Capsule endoscopy systems market to hit $399.7m by 2020

Allied Market Research has claimed that the capsule endoscopy systems market will generate revenue of almost $400 million by 2020, registering a CAGR of 14.8% during 2015–2020. The company states in its new report that capsule endoscopy will gradually replace conventional gastrointestinal monitoring techniques, largely due to its non-invasiveness and convenience.

Capsule endoscopy uses a wireless disposable video capsule, workstations and recorders for the diagnosis of gastrointestinal disorders such as peptic ulcers, Crohn’s disease and obscure gastrointestinal bleeding (OGB). The capsule aids in capturing images, which are transmitted to the recorders and analysed through workstations and software. Wireless disposable capsules held a 95% share in the overall market in 2014.

The study finds that the wireless disposable capsules segment is projected to be the fastest growing segment in the global capsule endoscopy systems component market to 2020, registering a CAGR of ~15.3% during the forecast period. Within target diseases, the colonic diseases segment is projected to register fastest growth during forecast period. The Asia–Pacific region is projected to be the fastest growing capsule endoscopy market, registering a CAGR of 15.5% during 2015–2020.

Market growth will be driven by key factors such as the increasing popularity of varied capsule types, such as small bowel, oesophagus and colon; a growing ageing population; and rising incidences of gastrointestinal disorders. Growth will be particularly strong in North America and Europe — which collectively accounted for around 83% of the capsule endoscopy systems market revenue in 2014 — due to a large patient base, rising healthcare expenditure and quick adoption of innovative technologies.

To view the report ‘World Capsule Endoscopy Systems — Market Opportunity and Forecast, 2014-2020’, visit the Allied Market Research website.