Europe Capsule Endoscopy Market

Europe Capsule Endoscopy Market Size (2023 to 2028)

Between 2023 and 2028, the capsule endoscopy market in the European region is expected to grow at a CAGR of 8.64% and be worth USD 283.42 million in 2023 and USD 428.92 million by 2028.

The capsule endoscopy market in Europe is driven by the increase in stomach ailments, minor intestine disorders, namely Crohn's disease, ulcerative colitis and GERD, rising cases of colorectal cancers, and the increase in the geriatric population across nations. The elderly population is increasing with a greater tendency to be affected by gastrointestinal diseases. It will eventually require capsule endoscopy, which is more likely to affect the growth of the European capsule endoscopy market. According to WHO, the global population base in the age group above 65 is expected to increase from 8% in 2000 to 17% in 2050. 1 in 77 British men and 1 in 131 British women will be diagnosed with stomach cancer in their lifetime.  Nearly 55% of these stomach cancer cases in the UK are preventable, with early diagnosis and treatment. This is why the European market is growing directly. This is expected to significantly improve patient healthcare quality, leading to the growth of the studied market.

There is a rise in the number of cases of colon cancer in the year 2018. As a result, the endoscopic capsules market is experiencing tremendous growth in the European market and hence offers several new opportunities for growth and development in research. According to the American Cancer Society, it is estimated that around 97,550 new cases of colon cancer have been observed. As reported by the CDC, each year, colorectal cancer causes approximately 608,500 deaths worldwide, and more than 14.8 million colonoscopies are performed. Additionally, the growing demand for a less invasive diagnostic platform is one of the key factors supporting the market, as mentioned above. According to the latest WHO data published in 2019, deaths from stomach cancer in France reached 5,600, or 1.45% of total deaths in France, while the deaths in Germany reached 10,850, or 1.55% of all deaths in the region.

Although the capsule endoscopy market in Europe is growing tremendously, the market is anticipated to have various risk factors and complications, namely irritation, patient compliance, lack of skilled professionals, among others. These risks and complications will have a negative impact on the European capsule endoscopy market during the forecast period.

This research report on the European capsule endoscopy market has been segmented and sub-segmented into the following categories.

By Accessories:

• Wireless Capsule
• Workstation and Receiver

By Product:

• Small Bowel
• Esophageal
• Colon

By Application:

• Crohn’s Disease
• OGIB (Obscure Gastrointestinal Bleeding)
• Small Intestine Tumor
• Others

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

The United Kingdom is anticipated to grow at the highest CAGR rate of 8.9% in the European market during the forecast period. This regional market growth can be attributed to the increasing prevalence rate of gastrointestinal disorders and colorectal cancer, improved healthcare infrastructure, availability of specialized healthcare professionals, the presence of favorable reimbursement policies, and the growing adoption of minimally invasive capsule endoscopy by patients.

France is expected to grow at a lucrative rate during the forecast period due to increased levels of patient awareness, high disposable income, a growing geriatric population, and a significant presence of untapped opportunities for cancer screening.

Germany is considered to be the second-largest holder of the European capsule endoscopy market during the forecast period. Gastrointestinal disorders such as Crohn's disease, ulcerative colitis, and colorectal cancer are the major factors that drive market growth in this region. About one in eight new cancers seen in Germany are related to the large intestine or rectum. In 2018, approximately 26,600 women and 32,400 men were newly diagnosed with colorectal cancer. Other factors supporting the market growth are due to the focus on research and development, which further supports the market's growth.

The Netherlands, although it ranks third in the rankings, is still considered the fastest-growing market. The country has enormous opportunities due to the support of funds and technological advancements in the medical sector.

KEY MARKET PLAYERS:

A few of the noteworthy companies operating in the European capsule endoscopy market profiled in this report are RF Co. Ltd., IntroMedic Co., Ltd., AccuRead Endoscopy Inc., Boston Scientific Corporation, Medtronic Plc, Olympus Corporation, CapsoVision, Inc., Northside Gastroenterology Endoscopy Center, LLC., Chongqing Jinshan Science & Technology Co., Interscope Inc. and Given Imaging Ltd.