London, United Kingdom (PressExposure) December 16, 2009 -- The global capsule endoscopy market was valued at $149.8 million in 2008. Driven by increasing awareness of the advantages of this device over traditional endoscopes and its increased utilization as the first line of diagnosis for small bowel disorders, this market is expected to grow at a CAGR of 26.3% during 2008 â 2015, to reach sales of $767.5 million in 2015. With only 4 companies in the market at present and a high proportion of individuals suffering from gastrointestinal disorders, this under-penetrated market will provide huge growth opportunities for small and emerging companies that come up with an innovative product offering.
Endoscopy has been in use for almost three decades now. Traditionally, endoscopes used fiber optics and a powerful lens system that also utilized a light source to illuminate and visualize the interiors of body cavities and joints. The endoscopic procedure, 30 years since its inception, still remains a painful procedure to the patient. The other major drawback that the flexible endoscopes or rigid endoscopes could not address in these 30 years was visualization of the small intestine. The small intestine remained the final frontier for endoscopic instruments; until the advent of Capsule Endoscopy (CE).
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