LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global capsule endoscopes market 2017-2021 to grow at a CAGR of close to 11% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global capsule endoscopes market for 2017-2021. Capsule endoscopy is a painless technique to evaluate gastrointestinal disorders. Capsule endoscopy is an eight-hour-long procedure, in which the patient swallows a small pill that has three components: a camera, a transmitter, a battery. This device captures images of the gastrointestinal tract and transfer them to a recording device, which can be downloaded on screen. The physician gives results after examining the images.
According to Barath Palada, a lead analyst at Technavio for medical imaging research, “Advances in technology, growing public awareness of the advantages of capsule endoscopes over conventional endoscopes, and their increased use in the first-line diagnosis of small bowel disorders are factors which will propel market growth.”
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global capsule endoscopes market:
- Presence of large patient pool with gastrointestinal disorders
- Increasing popularity of non-invasive techniques
- Focus on emerging economies
Presence of large patient pool with gastrointestinal disorders
The presence of a large patient pool with gastrointestinal disorders is expected to drive the market growth. The growing incidence of gastrointestinal disorders such as colorectal, esophageal, or pancreatic cancers; biliary disease; inflammatory bowel disease; and gastroesophageal reflux disease is expected to propel the market growth. The changes in lifestyle such as an increasingly unhealthy diets and physical inactivity are leading to health issues such as raised levels of blood pressure, blood glucose, lipids, and obesity.
“The increased prevalence of gastrointestinal diseases among the population has boosted the frequency of diagnostic screening procedures, which augurs well for the growth of the market,” says Barath.
Increasing popularity of non-invasive techniques
The usage of capsule endoscopy to diagnose esophageal cancer, colorectal cancer, and small bowel obstruction is growing significantly, which is expected to contribute to the growth of market. Non-invasive techniques reduce cost and hospital stay, lower risks of post-operation infections, and offer rapid results and faster recovery period. Numerous research studies have demonstrated the advantages of non-invasive techniques such as capsule endoscopy. This has fueled the adoption of capsule endoscopy in various medical facilities. Consumers prefer complication-free methods to diagnose gastrointestinal disorders, which drives the growth of the global capsule endoscopes market.
Focus on emerging economies
Another driver influencing the growth of the capsule endoscopes market is the presence of a large undiagnosed and untreated population in emerging economies due to which vendors are focusing on this region to generate substantial revenue.
The incidence and prevalence of gastrointestinal disorders in APAC, particularly in China and India, has been increasing over the past few years. Capsule endoscopes play a vital role in the early and accurate diagnosis of these diseases. Thus, the growing focus of leading vendors on emerging economies will positively impact the market growth of capsules endoscopes. Such initiatives will likely increase the adoption of capsule endoscopes during the forecast period.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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