The pillcam endoscopy market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. The rise in a number of chronic diseases such as cancer and gastrointestinal diseases in developed as well as developing countries are some of the factors expected to drive the growth of the global pillcam endoscopy market. Advancement in pillcam endoscopy technology and hybrid imaging techniques, increase in a shift of patients towards the advanced diagnostics is one of the major factor driving the growth of the global pillcam endoscopy market. According to the data collected from Centre of Disease Control and Prevention, in 2018, the estimated number of adults with diagnosed ulcers are 14.8 million and percent of adults with diagnosed ulcers are 5.9% in the U.S.
The market is segmented based on application into colonic pillcam, bowel pillcam, oesophageal pillcam, and others, out of which, the bowel pillcam segment is anticipated to grab the largest share by the end of 2021 in the global pillcam endoscopy market by product. Bowel pillcam endoscopy aids physicians in evaluating critical gastrointestinal parts with the help of advanced visualization systems. On the basis of end-use industry, the hospitals segment in the global pillcam endoscopy market is projected to grow with a significant CAGR over the forecast period. The growth can be attributed due to the reason that hospitals provide healthcare services such as diagnostics and disease treatment with the help of modernized equipment. With the increasing prevalence of gastrointestinal diseases, rising number of gastrointestinal examinations are being conducted, which, in turn, is likely to drive the growth of the pillcam endoscopy market for the hospital segment during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. In the Asia Pacific, development has been made significantly to offer better healthcare services. The government supports the developments through various strategies, initiatives, and programs that help in increasing awareness regarding gastrointestinal disorders. Countries such as India, China and Japan have untapped potential and are likely to become the focal point of development in the region. The healthcare industries have shown readiness in adoption of the technological advancements of the West. The region has a large population base with high prevalence of gastrointestinal diseases and favourable regulatory scenario. Thus, these factors are likely to propel the regional growth of the market.
The global pillcam endoscopy market is further classified on the basis of region as follows:
Our in-depth analysis of the global pillcam endoscopy market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing prevalence of gastrointestinal and abdominal diseases, rising demand for minimally invasive endoscopy procedures and favorable government regulations are the key factors stimulating the market growth significantly
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
Costly therapies lack of skilled technicians and risks involved in endoscopy are estimated to hamper market growth.
The market in Asia Pacific region will provide ample growth opportunities owing to the growing healthcare services and medical technologies.
The major players dominating the pillcam endoscopy market are Olympus corporation, IntroMedic, Capsovision, Check-Cap, Shangxian Minimal Invasive Inc.among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product, end-use industry, application and region.
The bowel pillcam segment is anticipated to hold the largest market share owing to aids physicians in evaluating critical gastrointestinal parts with the help of advanced visualization systems.
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