Segmentation by Product (Colonic pillcam, Bowel pillcam, Oesophageal pillcam); by End-use Industry (Hospitals, Diagnostic Laboratories, Specialty Clinics and Others); and by Application (Obscure Gastrointestinal Bleeding (OGIB), Crohn’s Disease, Small Intestine Tumour, and Others) – Global Demand Analysis and Opportunity Outlook 2021-2029
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Our in-depth analysis of the global pillcam endoscopy market includes the following segments:
By Product
By End-use Industry
By Application
Growth Drivers
Challenges
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:
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: 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
Ans: The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
Ans: Costly therapies lack of skilled technicians and risks involved in endoscopy are estimated to hamper market growth.
Ans: The market in Asia Pacific region will provide ample growth opportunities owing to the growing healthcare services and medical technologies.
Ans: The major players dominating the pillcam endoscopy market are Olympus corporation, IntroMedic, Capsovision, Check-Cap, Shangxian Minimal Invasive Inc.among others.
Ans: 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.
Ans: The market is segmented by product, end-use industry, application and region.
Ans: 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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