The global capsule endoscopy market size was USD 507.5 Million in 2023 and is expected to register a revenue CAGR of 8.8% during the forecast period. Growing prevalence of gastro-intestinal disorders, rising demand for minimally invasive procedures, along with rising investments in Research & Development (R&D) activities are major factors driving revenue growth of the market.
In addition, consumer’s shifting preference towards minimally invasive therapeutic procedures by avoiding surgery is another major factor driving market revenue growth. Capsule endoscopy enables the physician to look into internal images of gastrointestinal tract. This procedure involves swallowing a capsule fitted with a tiny camera that captures thousands of pictures while travelling through digestive tract and small intestine. Capsule endoscopy has been widely used for diagnosis and treatment of gastrointestinal cancer, chronic abdominal pain, Crohn’s disease, celiac disease, and excessive bleeding and ulcers.
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This allows physicians to detect infections and abnormalities in gastrointestinal track to give accurate and better treatment. Various risks associated with surgery includes bowel obstruction, band slippage, nausea and vomiting, and gallstones, among others. Companies are also investing in R&D activities, working on product innovations, new product launches, partnerships, and forming mergers and acquisitions, which is another factor driving market revenue growth. For instance, on 18 April 2022, Royal Philips and Oulu University Hospital (Finland) signed a strategic 10-year partnership agreement to support hospital’s ambitious OYS2032 revitalization program. This program intends to change Oulu University Hospital’s operations and infrastructure to fulfil demands of future specialized treatment for region’s roughly 750,000 residents to revolutionize patient diagnosis and treatment, Philips is offering its most recent image-guided therapy technologies and solutions, as well as maintenance, consulting, and financing services to revolutionize patient diagnosis and treatment, maintenance, consulting, and financing services. This agreement also helps the hospital to achieve its quadruple aim of better health outcomes, higher efficiency, and improve patient and employee experiences, hence the companies will work together to develop efficiencies and innovations.
Moreover, incorporation of various technologies in capsule endoscopy is also driving revenue growth. For instance, on 9 August 2022, Medtronic India, the pharmaceutical company introduced GI Genius, an endoscopic module powered by Artificial intelligence (AI) with the objective to treat colon cancer,. By providing improved visibility during colonoscopy, the recently created medical solution helps doctors to find and cure colorectal cancer by providing real-time data. On 11 November 2023, AI Medical Service Inc. announced that it had received ‘Breakthrough Device’ designation from Food and Drug Administration, for its artificial intelligence programs that scrutinize images of endoscopy performed for further diagnosis of gastric cancer. Such technological advancements are also significantly driving revenue growth of the capsule endoscopy market.
Driver: Rising demand for minimally invasive therapeutic treatment along with rising investments in capsule endoscopy
Increasing consciousness about negative after-effects of surgery among individuals has eventually increased adoption of minimally invasive therapeutic treatment procedures. For instance, according to National Centre for Biotechnology Information, minimally invasive therapeutic treatments are more palatable to patients since they need fewer incisions, cause less discomfort, and leave no unsightly scars and less hospital stays, which also reduces costs. In addition, it is reportedly preferred by surgeons as it shortens the healing process and lowers possibility of side effects such as intestinal adhesions, incisional hernias, and wound dehiscence. The healthcare sector’s aggressive marketing and promotion of equipment further add to its appeal. Such factors are extensively driving growth of minimally invasive procedures, which eventually rises demand for the capsule endoscopy market. Major companies are also investing in R&D activities and working on product development. For instance, on 4 October 2023, AI Medical Service Inc. announced that it successfully raised USD 42.9 million in ‘Series B funding from World Innovation Lab, Globis Capital Partners, Sony Innovation Fund by Innovation Growth ventures, and a few other third-party companies. This latest funding will be used by the company to support clinical trials, advance development pipeline, hire skilled staff, buy equipment, and expand globally. The company also intends to speed up the process of regulatory approval and aid in global advancement of endoscopic medical care through continued development of its technology.
Restraint: Changes in legislation governing surgical interventions and endoscopic screening procedures
When other Gastrointestinal (GI) diseases, such as bleeding cannot be detected, indirectly capsule endoscopy is thought to be a safe procedure. But there always remains a slight possibility that the capsule would become ’stuck’ in the digestive system. In addition, bleeding is a possibility, especially if the capsule travels through a closed area, (stricture) in which there are inflammatory issues or tissue injury. A capsule can occasionally result in symptoms including nausea, vomiting, and abdominal pain. Various infections might also occur if the camera that is inserted in GI tract is not properly sterilized and cleaned.
COVID-19 pandemic had a substantial influence on the market owing to t elective procedures that were postponed, delayed, canceled, or underperformed. Changes in legislation governing surgical interventions and endoscopic screening procedures, as well as supply-chain interruptions, along with a lack of skilled professionals to carry out the diagnosis, are other significant factors restricting revenue growth of the capsule endoscopy market.
Based on product, the global capsule endoscopy market has been segmented into esophageal capsule, colonic capsule, and bowel capsule. The bowel capsule segment accounts for a major revenue share over the forecast period. Increasing prevalence of Irritable Bowel Syndrome (IBS) and rising need to diagnose such disorder for therapeutic purposes are primarily driving revenue growth of this segment. For instance, as per International Foundation for Gastrointestinal Disorders, in the U.S., between 25 and 45 million humans suffer from IBS. Nearly two-thirds of IBS patients are female. Men make up about 1 in 3 IBS patients. According to the National Center for Biotechnology Information, between 2.3% and 15.8% of Chinese people have IBS.
Based on end-use, the global capsule endoscopy market has been segmented into hospitals, ambulatory surgery centers, clinics, and others. The hospitals segment is expected to account for largest market share over the forecast period. Factors, such as cleanliness, better emergency services, availability of doctors, and treatment at reasonable prices especially in government-based hospitals, are major factors driving revenue growth of this segment. Moreover, promising reimbursement plans and policies by government authorities are also driving revenue growth of this segment. For instance, in the U.S. Medica coverage policy covers capsule endoscopy expenses under an insurance coverage plan.
Based on application, the global capsule endoscopy market has been segmented into Obscure Gastrointestinal Bleeding (OGIB), small intestine tumors, and Crohn’s disease. The obscure gastrointestinal bleeding segment is expected to register a significant revenue growth rate over the forecast period. The diagnosis of OGIB has been transformed by Capsule Endoscopy (CE), which enables non-invasive viewing of small bowel mucosa. Since it is non-invasive, CE is recommended by doctors and is frequently used as the initial diagnostic method for OGIB. Use of capsule endoscopes for OGIB is growing as a result of advantages such as real-time imaging, picture capturing, examination of entire small intestine, and accurate and dependable results. Furthermore, introduction of capsule-based endoscopic screening for OGIB as opposed to more traditional techniques, including double-balloon enteroscopy, is also changing trends and driving revenue growth of this segment.
Based on regional analysis, the North America market accounted for largest revenue share in 2021. Increasing resilience and dependency on minimally invasive therapeutic procedures, along with rising incidence of various gastro-intestinal diseases is driving revenue growth in this region. For instance, as per the National Center for Biotechnology Information, Upper Gastrointestinal Bleeding (UGIB) occurs more frequently among individuals compared to Lower Gastrointestinal Bleeding (LGIB). Rate of UGIB among the U.S. population is approximately 67 per 100,000, while LGIB incidence accounts for 36 per 100,000 individuals. According to research, upper GI bleeding causes up to 20,000 mortalities per year in the U.S. Number of deaths owing to gastro-intestinal bleeding is comparatively high, which eventually rises demand for capsule endoscopy. Moreover, major companies are also present and get involved in various strategic collaborations, product launches, and partnerships. Furthermore, increasing number of product approvals by government authorities along with increasing R&D activities by companies is also expected to drive market revenue growth in the upcoming years. For instance, on 15 March 2021, the U.S. Food and Drug Administration (FDA) approved PillCam Small Bowel 3 system for use in remote endoscopic treatments, according to a statement from Medtronic plc. With the help of Amazon logistics and Medtronic’s PillCam technology, PillCam SB3 HOME program aims to provide patients with rapid and reliable results while they remain in the comfort of their homes.
The Europe market accounted for a significant revenue share in 2022. Increasing prevalence gastro-intestinal disorders, rising incidences of Inflammatory bowel disease along with incorporation of various technologies such as artificial intelligence, robotic endoscopy, as well as wireless technologies are being increasingly incorporated in capsule endoscopy treatment. For instance, as per research, in Germany, the number of new IBD diagnoses in Germany would rise by 325% by 2032 compared to 2000. The European Society of Gastrointestinal Endoscopy (ESGE) recommends small-bowel video capsule endoscopy as initial evaluation for patients with unexplained gastrointestinal bleeding. ESGE recommends performing a small bowel capsule endoscopy after the bleeding episode, ideally within 14 days, to improve diagnostic yield in patients with overt cryptic gastrointestinal bleeding. Such recommendations by national bodies are also positively driving revenue growth in this region.
The Asia Pacific market accounted for a steady revenue share over the forecast period. This is due to increasing investments in the healthcare sector, along with rising R&D activities by major companies and government support in form of funds and investments. For instance, on 4 October 2020, in a Series C fundraising round, Jifu Medical, a company that makes a capsule-sized endoscope instrument, raised millions of dollars. Greenwoods Investment is the principal investor and Bojiang Capital is one of the other investors. The company’s minimally invasive diagnostic solutions for digestive system will receive some of the funding. These funds will also be used to increase production and market magnetic induction capsule endoscopes made by Jifu. In addition, this capsule is also simple to use, less invasive than a conventional paroral endoscopy, and painless.
Competitive landscape of the global capsule endoscopy market is fragmented and highly competitive with multiple players operating on global and regional levels. Key players are engaged in portfolio expansion, R&D, and strategic alliances to expand their reach in the market. Partnership, collaborations, agreements, regional expansions, mergers, acquisitions, and new product launches are among other growth tactics used by the leading companies to expand their market presence. Smaller businesses set themselves apart by developing distinctive products. To gain a presence in the market, competitors are working on differentiating their products to offer unique value propositions. Market suppliers are also capitalizing on current growth opportunities in fast-growing categories while protecting their positions in slower-growing segments. Certain initiatives taken by start-ups are also creating a major difference and steadily expected to gain a stable market presence in the future.
Some of the major companies included in the global market report are Intromedic, Olympus Corporation, Jinshan Science & Technology, Fujifilm Corporation, CapsoVision, Inc., Medtronic, RF Co., Ltd., Check-Cap, Tracxn Technologies Limited, and Shangxian Minimal Invasive Inc.
- On 3 November 2022, Ysbyty Gwynedd started testing new colon capsule endoscopy cameras to check for bowel cancer. At Ysbyty Gwynedd, as a part of nationwide project, tiny cameras, which patients may swallow to get tested for bowel cancer are currently being tested. The Pillcam Colon capsule is simple-to-take pill that contains two cameras. It gives doctors detailed images to help them spot polyps, which can develop into bowel cancer and establish whether a colonoscopy is required.
Segments Covered in the report
This report offers historical data and forecasts revenue growth at a global, regional, and country levels, and provides an analysis of market trends in each segment, sub-segment, region, and country from 2023 to 2032. For the purpose of this report, has segmented the global capsule endoscopy market based on product, end-use, application, component, and region:
Capsule Endoscopy Market Report Scope
Segments covered By Product Outlook, End-use Outlook, Application Outlook, Component Outlook, Regional Outlook
By Product Outlook
By End-use Outlook
Ambulatory Surgery Centers
By Application Outlook
Obscure Gastrointestinal Bleeding (OGIB)
Small Intestine Tumor
By Component Outlook
Middle East & Africa
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