Capsule Endoscope and Workstations Market Size Growing at a CAGR of 16.2% From 2022 to 2032
The global capsule endoscope and workstations market size growing at a CAGR of 16.2% from 2022 to 2032 was valued at US$ 179.9 Mn in 2021 and is projected to reach US$ 605.1 Mn by 2028.
What are the Key Capsule Endoscope and Workstations Market Trends?
The sales of capsule endoscope and workstations market is expected to be accelerated by the development of Wi-Fi-enabled capsules with longer battery life and improved camera quality to improve capsule endoscopy’s diagnostic capabilities.
Thirty five percent of the population suffering ulcers suffer from serious complications and sometimes become life threatening.
It is estimated that approximately 500,000 new ulcer cases are detected each year and at a time 5 million people are affected with ulcers in the United States.
Therefore, for the early diagnosis and proper treatment of capsule endoscope and workstations market plays a pivotal role.
Artificial intelligence (AI) is predicted to be one of the key factors in capsule endoscope and workstations market growth.
Capsule endoscopy’s integration of various technology improvements to increase reading experience, accuracy, and diagnostic capabilities is likely to fuel market expansion.
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The demand for capsule endoscope and workstations is projected to rise as more consumers acquire the benefits of painless and minimally invasive (MI) diagnostic methods that do not require anesthesia.
Over the forecast period, many additional variables, such as expanding expenditure capabilities and improvements in the healthcare industry, are estimated to boost the global capsule endoscope and workstations market growth.
What are the Key Drivers of the Capsule Endoscope and Workstations Market?
Endoscopy is increasingly being utilized to diagnose a variety of serious illnesses, including cancer, orthopedic problems, neurological problems, and acid reflux disease (GERD).
The increased prevalence of target illnesses such as cancer, neurodegenerative, infectious, immunological, metabolic, and cardiovascular diseases is likely to increase the need for endoscopic operations in the approaching years, propelling the capsule endoscope and workstations market further.
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Furthermore, the rising global prevalence of gastrointestinal illnesses and colorectal cancer is expected to boost capsule endoscope and workstations market growth.
Moreover, the capsule endoscopy market in Asia Pacific is predicted to increase at a healthy rate throughout the forecast period.
This is due to an increased demand for capsule endoscope and workstations in this region for capsule-based endoscopic technology for screening operations.
Owing to its clinically proven effectiveness and superiority over barium x-rays in the diagnosis of Obscure Gastrointestinal Bleeding, the use of capsule endoscopy for the diagnosis of Obscure Gastrointestinal Bleeding is projected to fuel the growth of the worldwide capsule endoscopy market.
Which are the Limitations to the Growth of the Capsule Endoscope and Workstations Market?
High cost of latest technology devices and lack of skilled professionals are the major barriers which affect the growth of capsule endoscope and workstations market.
Which are the Opportunities Available in the Capsule Endoscope and Workstations Market?
The growing incidence of cancer, quick improvements in healthcare infrastructure, the rapid rise of medical tourism, and the availability of flexible legislation encourage endoscopy equipment manufacturers to expand their operations.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
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