Capsule Endoscopy Market by Share, Growth, Trends, and Forecast up to 2024
Capsule endoscopy is a painless, minimally invasive procedure used for the detection of digestive disorders. In capsule endoscopy, a pill-sized endoscope is swallowed by the patient and images of the digestive tract are recorded and later examined for the diagnosis of various intestinal diseases. Capsule endoscopies are performed to detect Crohn’s disease, celiac disease, obscure gastrointestinal bleeding, tumors in the small intestine, adverse reactions to nonsteroidal anti-inflammatory drugs (NSAID), and various other conditions that inflict the digestive system. Various types of capsule endoscopes are used to examine the small bowel, esophagus, and colon. The primary components of capsule endoscopes are a camera, a transmitter, batteries, and a light source.
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One of the key factors driving the capsule endoscopy market is the rising incidence of gastrointestinal diseases. According to the National Institutes of Health, around 60 to 70 million Americans are affected by gastrointestinal diseases each year. In 2004 alone, an estimated 236,000 deaths, 72 million ambulatory care visits, and 4.6 million hospitalizations were attributed to gastrointestinal diseases in the U.S., with the healthcare expenditure on these diseases pegged at around US$142 bn each year.
The global market for capsule endoscopy has been witnessing a steady rise in demand owing to a number of factors, including the presence of supportive government initiatives, the demand for more accurate and faster diagnostic tools, the rise in the global geriatric population, and the introduction of technologically advanced devices such as endoscopes with a longer battery life, Wi-Fi-enabled capsules, and magnetic and hybrid versions.
The demand for small bowel capsules has been consistent owing to their rising usage for the detection of medical conditions such as inflammatory bowel disease, small bowel neoplastic lesions, obscure gastrointestinal tract bleeding, and Crohn’s disease. The demand for colon capsules is also anticipated to witness a rise in the coming years owing to the increasing prevalence of colon cancer. The demand for less invasive diagnostic procedures in such cases is likely to push the market for colon capsule endoscopy.