The Capsule Endoscopy Market is highly competitive, with a considerable number of players operating in the market. Most of the companies operating in the capsule endoscopy market are present across the globe and have wide distribution and sales networks through partnerships or authorized dealers.

According to new market research titled 'Capsule Endoscopy Market to 2027 – Global Analysis and Forecasts by Product, Application, and End User.' The global capsule endoscopy market is expected to reach US$ 697.29 Mn in 2027 from US$ 368.65 Mn in 2019. The market is projected to grow with a CAGR of 8.3% from 2020-2027.

The most notable market participants in the Capsule Endoscopy market include Olympus Corporation, Medtronic, IntroMedic and CapsoVision among others. These players hold a considerable share in the capsule endoscopy market owing to their product offerings.

Medical conditions, such as gastrointestinal disorders, inflammatory bowel diseases, and colorectal cancer, have increased significantly in recent years due to various environmental factors as well as a change in the lifestyle of individuals worldwide. The cases of colorectal cancer are increasing worldwide. For instance, as per the Global Capsule Endoscopy Market, in 2018, about 1,849,518 new cases of colorectal cancer were recorded worldwide. Awareness and screening play a vital role in reducing the mortality rate associated with colorectal cancer. Moreover, aging increases the risk of GI disorders such as CRC, inflammatory bowel disease, and appendicitis; hence, screening is important to avoid complications and further progression of gastrointestinal disorders. Additionally, the growing demand for less invasive diagnosis platforms is among the key factors supporting the growth of the capsule endoscopy market. This is expected to significantly improve the patient base preferring capsule endoscopy.

The global capsule endoscopy market, based on application, has been segmented into obscure gastrointestinal bleeding (OGIB), Crohn’s disease, small bowel diseases and other end users. In 2019, the small bowel diseases segment held the largest share of the market. Obscure gastrointestinal bleeding (OGIB) segment is expected to register the significant growth during the forecast period due to the increasing incidences of obscure gastrointestinal bleeding in western countries.

The companies operating in the market have undertaken various growth strategies to strengthen their position in the market. Some of the commonly witnessed developments in the market were mainly organic, such as product launch. Product launch helps to increase the market share of a company quickly and also reduces the barriers a company might face while venturing into a new market. Apart from this, partnerships have also been witnessed in the market. Various players in the market have preferred to partnered with other players as it is less expensive, less risky, and faster compared to other inorganic growth methods such as sales and marketing efforts.

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