Capsule Endoscopy Market Size, Share, Growth Analysis, By Product(Capsule Endoscope, Work Stations & Recorders), By Application(Small Intestine Disorder, Esophageal Disorder, Colonic Disorder), By End User(Hospitals, Diagnostic Laboratories, Specialty Clinics), By Region - Industry Forecast 2024-2031

North America region is expected to hold the largest market share in the global capsule endoscopy market

North America dominated the market in 2020 and held the largest share of the capsule endoscopy market due to rising preference for minimally invasive screening procedures, surge in technologically advanced products and systems, and improvement in healthcare infrastructure. It is projected that North America will continue to exhibit this trend throughout the forecast period. The market opportunity for capsule endoscopy systems is growing in the region as a result of increased awareness about early screening for diseases like gastrointestinal disorders, cancer, and other chronic problems. For instance, 75 million endoscopies are performed in the United States every year, with 68%, being gastrointestinal endoscopies. Also, in November, 2021, the US Food and Drug Administration (FDA) approved the PillCam Small Bowel 3 system for remote endoscopy procedures.

Asia Pacific is projected to have a significant CAGR of 10.3% in the global capsule endoscopy market from 2022-2028. The rapid growth in demand for capsule-based endoscopic technology for screening procedures in this region is responsible for this advancement. The market for capsule endoscopy is expanding quickly due to factors such as the region's strong economic growth, expanding healthcare infrastructure, rising elderly population, the existence of major competitors, and a constantly evolving start-up landscape. Additionally, the region's new businesses have been investing in R&D projects to create contemporary, improved devices. Untapped potential makes nations like China, Japan, and India likely to take centre stage in the region's development. The healthcare sectors have demonstrated a willingness to absorb Western technological innovations. Therefore, these factors are likely fuelling the market's regional growth.