The global capsule endoscope and workstations market stood at around US$ 179.9 Million in 2021 and is slated to increase at a CAGR of 16.2% to reach a valuation of US$ 841.0 Milion by 2032.
“Increasing demand for minimally invasive procedures and rising prevalence of target illnesses will set the tone for capsule endoscope and workstations market growth.”
| Attributes | Details |
|---|---|
| Capsule Endoscope and Workstations Market Value in 2021 | US$ 179.9 Million |
| Capsule Endoscope and Workstations Market Value in 2032 | US$ 841.0 Million |
| Capsule Endoscope and Workstations Market CAGR (2022 to 2032) | 16.2% |
A capsule-sized medical equipment with a camera, battery, transmitter, and light source is known as a capsule endoscope. The patient then swallows the capsule, which records photos of the digestive system that are later saved in a registering device attached to the patient's body. Physicians and healthcare professionals review these high-resolution images afterward to assess and compile crucial data regarding the medical condition.
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The increasing prevalence of serious diseases such as cancer, orthopedic disorders, acid reflux disease, and neurological problems among the population is accelerating market growth. People suffering from these conditions go through severe complications and sometimes it becomes life-threatening. For the early diagnosis and proper treatment of these target illnesses, the capsule endoscope and workstations play an important role. Additionally, the increasing global prevalence of gastrointestinal disorders is further rising the demand for the capsules endoscope and workstations.
Furthermore, the capsule endoscopy’s integration of various technology improvements to increase reading experience, diagnostics capabilities, and accuracy is further boosting the market growth. Besides this, artificial intelligence is also a key factor in the market growth of the capsule endoscope and workstation market.
The increasing demand for painless and minimally invasive diagnostic procedures among patients is predicted to raise market growth in the projected period. Apart from this, the improving healthcare industry in developing and underdeveloped nations are attributed to propelling the market growth in the near future.
Geographically, the global capsule endoscope and workstations market is segmented into seven major regions which include North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.
Among these regions, North America is expected to hold a major share in the global capsule endoscope and workstations market, followed by Europe. The increasing incidence of cancer is expected to propel the demand for capsule endoscopes. Furthermore, the upsurge in ulcer cases, as well as the early diagnosis and treatment for ulcers, is playing an important role in the market development.
The increase in healthcare spending along with the establishment of endoscopic training centers and the rising awareness of minimally invasive surgeries in developing countries is expected to expand the market growth in the Asian region. Owing to the low adoption of such advanced products in Latin America and the Middle East and Africa, are likely to show moderate market growth.
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Some of the key players operating in the capsule endoscope and workstations industry are MEDTRONIC, IntroMedic Co., Ltd., Olympus Corporation, Chongqing Jinshan Science & Technology (Group) Co., Ltd., RF System Lab Co., Ltd., CapsoVision, Shangxian Minimal Invasive Inc., FUJIFILM Holdings Corporation, Check Cap, AnX Robotics and others.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 16.2% 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2012 to 2021 |
| Forecast Period | 2022 to 2032 |
| Qualitative Units | Revenue in USD Million, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segment Covered | Component, Application, Region |
| Region Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East & Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC, South Africa, Israel |
| Key Players | MEDTRONIC; IntroMedic Co., Ltd.; Olympus Corporation; Chongqing Jinshan Science & Technology (Group) Co., Ltd.; RF System Lab Co., Ltd.; CapsoVision; Shangxian Minimal Invasive Inc.; FUJIFILM Holdings Corporation; Check Cap; AnX Robotica |
| Customization | Available Upon Request |
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The global capsule endoscope and workstations market is anticipated to register a CAGR of 16.2% during the forecast period.
The capsule endoscope and workstations market is projected to be about US$ 841.0 Mn by the end of year 2032.
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Capsule Endoscope and Workstations Market
