Global Capsule Endoscopy Market expected to register at CAGR of 8.82% and is anticipated to reach USD 967.4 million by 2023 | Emerging Technologies, Competition & Strategies of Key Players, Regional Analysis and Region Wise Performance

Capsule endoscopy, a digestive capsule-encased micro-camera is used to diagnosis gastrointestinal complications such as chronic pain, small intestinal bleeding, ulcer, and abnormal tissue growth where the traditional endoscopy is ineffective.  This diagnostic procedure images the esophagus, stomach, and small intestine as the device pass through the gastrointestinal (GI) tract. The real-time data provided by the capsule is used to expedite the diagnosis process and hence, the faster treatment and recovery in the gastrointestinal complications.

Resultantly, the uptake of capsule endoscopy is widening rapidly over the past few years. The larger absorption leads to driving the growth of capsule endoscopy market. Moreover, technological advancements transpired into the field of medical science are escalating the market on the global platform.

Acknowledging the enormous growth, the market perceives currently; Market Research Future (MRFR) in its newly published study report confirms that the global capsule endoscopy market is expected to garner exponential accruals posting a CAGR over 8.7% throughout the assessment period (2018-2023).

Additionally, factors such as the growing prevalence of intestinal diseases and cancerous tumors & diseases substantiate market growth. The rapidly changing lifestyle of people and their inclination towards the sedentary lifestyle is acting as a significant tailwind pushing up market growth, increasing the occurrences of gastrointestinal diseases and stomach cancer.

Substantial investments put into the R&D activities to bring the betterments in the endoscopy are, in turn, driving the market growth to an extent. Also, favorable reimbursement policies alongside government funding are playing a significant role in the growth of the capsule endoscopy market.

On the flip side, factors such as the high cost associated with the capsule endoscopy procedures and limited reimbursement along with the risk of capsule retention are impeding the market growth. Besides, the low awareness among physicians about the benefits of capsule endoscopy is a dominant factor hampering the market growth, acting as a major headwind.

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Global Capsule Endoscopy Market – Segmentations

The MRFR analysis is segmented into five key dynamics for enhanced understanding.

By Type                 : Workstation, Wireless Capsule Endoscopy, Receiver Capsule Endoscopy, and others.

By Purpose            : Treatment, Investigation, Diagnostics, and others.

By Application       : Intestine Disease, Crohn's Disease, GIT Bleeding, and others.

By End-user           : Diagnostic Centers, Clinics & Hospitals, Medical Research Institutes, and others.

By Regions             : Asia Pacific, North America, Europe, and the Rest-of-the-World.