The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health

NEW YORK , NEW YORK, UNITED STATES, September 8, 2021 /EINPresswire.com/ -- According to the current analysis of Reports and Data, the global Capsule Endoscopy market was valued at USD 0.60 Billion in 2018 and is expected to reach USD 1.30 Billion by year 2026, at a CAGR of 9.0 %. The study covers the capsule endoscopy procedure used for the medical examination of various chronic diseases. Endoscopic capsules are available for a variety of endoscopy processes ranging from gastrointestinal tract inspection, respiratory tract inspection, reproductive tract inspection, etc. Modern capsule endoscopy process is disrupting the market by enabled to have a 360-degree view of the medical inspection.

Rising prevalence of chronic diseases, gastrointestinal infections, peptic ulcers, bowel tumors, abdominal bleeding would result in the growth of the capsule endoscopy market globally. Significant focus of healthcare companies on development of modern technology in capsule endoscopy, availability of public as well private funds for research, and favorable regulatory scenario, are some of the key factors propelling market growth in the industry. However, cost associated in the procedure, availability of other medical examination procedures like ultrasound, global supply chain of the associated equipment, are the major hinderances that would affect the growth of the capsule endoscopy market during 2019-2026.

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Market Overview:

The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.

The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, R&D activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.

The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Capsule Endoscopy market in these key regions.

Further key findings from the report suggest

? Capsule Endoscopy market is growing at a CAGR of 10.1 % in Asia Pacific followed by North America and Europe, with 9 % and 8.7 % CAGR, respectively. High disease prevalence across the globe is the key factor to accelerate the market growth during forecast period across all regions.

? Among the various components of this industry, capsule endoscopy takes up the majority market share, which is around 50 %, the rest is accounted by data recording devices and workstations.

? The global capsule endoscopy equipment market is dominated by established giants. New entrants have a good scope to come up with technical advancements in the existing products however, good sources of funding needed.

? Ageing population, beyond 65 years of age is expected to rise substantially from the previous decade, which lays down a lucrative opportunity for the market.

? Asia Pacific is expected to account for the 19.7% of the global capsule endoscopy Developing nations such China, and India are likely to witness high growth for the period.

? Penetration level of healthcare facilities into the untapped regions across the globe would hinder the growth of the capsule endoscopy market.

? Rising rate of various chronic diseases like cancer, is going to be one of the most important drivers of the market.

? Key participants include Olympus Corporation, RF System Lab, Given Imaging Ltd., Chongqing Jinshan Science & Technology Company, Fujifilm Corporation, Intromedic Co Ltd., CapsoVision Inc.

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For the purpose of this report, Reports and Data has segmented the capsule endoscopy market on the basis of product type, application type, component type, end use, and region:

By Product Type (Revenue, USD Million; 2016?2026)

? Colonic capsule
? Bowel capsule
? Esophageal capsule

By Application Type (Revenue, USD Million; 2016?2026)

? Gastrointestinal tract
? Respiratory tract
? Female reproductive tract
? Ear
? Urinary tract

By Component Type (Revenue, USD Million; 2016?2026)

? Wireless Capsule
? Image recorder
? Image workstation

By End Use (Revenue, USD Million; 2016?2026)

? Hospital
? Clinic
? Research centers
? Others

Regional Outlook (Revenue in USD Million; 2016?2026)

? North America
? Europe
? Asia Pacific
? Middle East & Africa
? Brazil

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