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

Global Capsule Endoscopy Market size was valued at USD 799.36 million in 2019 and is poised to grow from USD 898.48 million in 2023 to USD 2,288.95 million  by 2031, growing at a CAGR of 12.4% in the forecast period (2024-2031).

Due to the increasing demand for capsule-based endoscopes and endoscopic systems for various screening and diagnostic procedures, there is intense competition among the existing providers. The rivalry is also growing as a result of technological developments made in the field of endoscopy by important players. Prominent market players are taking steps to grow their R&D in the field of capsule-based endoscopic technologies, as well as strategic alliances with other market competitors through mergers and acquisitions, product launches, collaborations, and other activities. IntroMedic Co., Ltd., Olympus Corporation, Chongqing Jinshan Science & Technology (Group) Co., Ltd., RF System lab, and CapsoVision are a few of the key players in the capsule endoscopy market. 'Medtronic', 'Olympus Corporation', 'IntroMedic Co., Ltd.', 'Fujifilm Holding Corporation', 'CapsoVision, Inc.', 'RF System lab', 'Given Imaging Ltd. (A subsidiary of Medtronic)', 'Chongqing Jinshan Science & Technology (Group) Co., Ltd.', 'Intromedic', 'RF System Lab', 'Check-Cap', 'Medisafe Distribution Inc.', 'Jinshan Science & Technology Group Co., Ltd.', 'CapsoVision', 'Covidien Ltd.', 'Stryker Corporation', 'EndoChoice, Inc.', 'Boston Scientific Corporation', 'Pentax Medical (Hoya Corporation)', 'SMART Medical Systems Ltd.'

The global market for capsule endoscopy is projected to be driven by the increasing technical developments in endoscopic treatments.

Increase in Gastrointestinal Disorders Worldwide to Drive Global Capsule Endoscopy Market Growth - Due to a variety of environmental factors as well as a shift in people's overall lifestyles, medical illnesses such gastrointestinal disorders, inflammatory bowel diseases, and colorectal cancer have developed dramatically in recent years. Globally, the number of cases of colorectal cancer is rising. The second most prevalent disease to cause death and the third most frequently diagnosed cancer is colorectal cancer. The death rate linked to colorectal cancer can be significantly decreased by screening and increased awareness. Additionally, GI problems like CRC, inflammatory bowel disease, and appendicitis are more likely to develop as people age; for this reason, screening is crucial to prevent complications and further development of GI disorders. According to the National Colorectal Round Table, screening at age of 50 can prevent 230,000 deaths from colorectal cancer. The need for capsule endoscopy is predicted to rise significantly in the upcoming years due to the rise in these medical disorders. The standard procedure for detecting colorectal cancer is a colonoscopy. However, capsule endoscopy is being used more frequently as a result of the limitations of colonoscopy and the rising need for minimally invasive procedures. A non-invasive wireless diagnostic technique called capsule endoscopy gives doctors a thorough view of the small intestine. The use of technology has completely changed how small intestine problems like cancer, inflammatory bowel disease, celiac disease, and mysterious gastrointestinal bleeding are diagnosed and treated.

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