The global capsule endoscopy systems market is poised for rapid growth in the near future, according to a report by Allied Market Research.
Here are eight key trends:
1. The market is expected to generate revenues of $399.7 million by 2020.
2. It is estimated to grow at a compound annual growth rate of 14.8 percent from 2015 to 2020.
3. Increasing popularity of varied capsule types such as small bowel, esophagus and colon, the growing aging population and the rising incidences of gastrointestinal disorders are some factors that will drive the market growth.
4. However, unclear reimbursement policies, stringent regulations and the high cost of capsule endoscopy systems could hamper the growth
5. In 2014, the wireless disposable capsules segment held around 95 percent share in the overall market.
6. North America and Europe collectively accounted for around 83 percent of the capsule endoscopy systems market revenue in 2014.
7. The Asia-Pacific region is projected to be the fastest growing market for capsule endoscopy systems, registering a CAGR of 15.5 percent from 2015 to 2020.
8. Key players in the market include Given Imaging, Olympus, IntroMedic and CapsoVision.