North America Capsule Endoscopy System Market Size, Share & Industry Trends Analysis Report By Component (Capsule Endoscope and Work-stations & Recorders), By Disease Type, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Capsule Endoscopy System Market would witness market growth of 11.5% CAGR during the forecast period (2022-2028).
Capsule endoscopy was found to be between 83 and 89 percent accurate in detecting celiac disease, while a biopsy is still required for a final diagnosis. This visualization technique is passive, though, because the camera is simply eaten and allowed to travel through the system on its own. Even if the method has a higher chance of detecting an intestinal problem, the image may be transient or veiled, affecting the test's outcomes.
Small Bowel Capsule Endoscopy, often known as Pillcam, is a vital diagnostic technique for checking the small bowel for disease. This technique of endoscopy can see sections of the small intestine that aren't visible with regular Panendoscopy (Gastroscopy) or Colonoscopy. Patients are urged to take a capsule containing a small camera for the Pillcam process. As it passes through the gastrointestinal tract, the capsule's camera continuously collects photos before delivering them wirelessly to a recorder. Within one to two days, the capsule is normally gone out painlessly with the feces.
Minimally invasive screening treatments are becoming more popular in North America, as is the use of technologically advanced products and systems. Furthermore, enhanced healthcare infrastructure is another aspect increasing capsule endoscopy demand. In addition, increased awareness of early screening for diseases including gastrointestinal disorders, cancer, and other chronic problems is one of the major drivers of market growth in the area.
According to the American Cancer Society, around 141,000 persons in the United States were diagnosed with colorectal cancer in 2011, with approximately 49,000 deaths. Furthermore, colon cancer is the third most commonly diagnosed disease in the United States, as well as the third largest cause of death. As a result, a large patient population with gastrointestinal (GI) disease necessitates proper diagnosis and surveillance. Given Imaging was the first to design the capsule endoscopy model, which was initially used in industrialized countries in 2001. For GI disorders such as Crohn's disease, colorectal cancer, unexplained gastrointestinal hemorrhage, polyposis syndromes, and small bowel tumors, the capsule endoscopy system has emerged as a viable therapy and diagnosis technique.
The US market dominated the North America Capsule Endoscopy System Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $352.1 million by 2028. The Canada market is poised to grow at a CAGR of 14.1% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 13.1% during (2022 - 2028).
Based on Component, the market is segmented into Capsule Endoscope and Work-stations & Recorders. Based on Disease Type, the market is segmented into Small Intestine Disorder, Esophageal Disorder, and Colonic Disorder. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fujifilm Holdings Corporation, Medtronic PLC, Olympus Corporation, Check Cap Ltd., CapsoVision, Inc., Chongqing Jinshan Science and Technology Group Co., Ltd., IntroMedic Co., Ltd., RF Systems Lab, Shangxian Minimal Invasive, Inc., and AnX Robotica Corp.
Scope of the Study
Market Segments Covered in the Report:
- Capsule Endoscope
- Work-stations & Recorders
By Disease Type
- Small Intestine Disorder
- Esophageal Disorder
- Colonic Disorder
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Fujifilm Holdings Corporation
- Medtronic PLC
- Olympus Corporation
- Check Cap Ltd.
- CapsoVision, Inc.
- Chongqing Jinshan Science and Technology Group Co., Ltd.
- IntroMedic Co., Ltd.
- RF Systems Lab
- Shangxian Minimal Invasive, Inc.
- AnX Robotica Corp.
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