London, United Kingdom (PressExposure) July 12, 2011 -- The global capsule endoscope systems market was worth $186.9m in 2010 and is expected to reach $323.6m in 2017. Increased adoption of capsule endoscopy, along with advancements in technology and the availability of High Definition (HD) systems are set to drive the global capsule endoscope systems market. Also driving the market is the increased prevalence of gastrointestinal (GI) diseases such as esophagitis, gastroesophageal reflux disease, obscure gastrointestinal bleeding, celiac disease, Crohn's disease, Colorectal Cancer (CRC) as well as growing awareness of disease conditions among the general population leading to increase in screening procedures.
Capsule endoscope systems have the fastest growth rate of all other categories in the GI endoscope devices market. The fast growth of capsule endoscope systems can be attributed to improved reimbursement coverage across developed economies from early on, as well as the increase in screening procedures of the small bowel.
Reimbursement coverage for capsule endoscopy was initially provided for the diagnosis of obscure bleeding of the small bowel only by third party payers in countries such as Germany. However, as of December 2009, the reimbursement was extended for capsule endoscopy of the small bowel for suspected Crohn's disease, tumors and other pathologies. Several countries including the UK, France, Sweden and Denmark cover capsule endoscopy for broader indications.
Market growth can also be attributed to increase in number of small bowel screening procedures. Small intestine pathologies are difficult to diagnose. However, capsule endoscopy was proved useful in diagnosing lesions, tumors and other pathologies that are normally hidden inside mucosal layers. The efficiency of the capsule endoscope system in this area is resulting in increased physician preference for small bowel investigations.
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Given Imaging continues its dominance in the global capsule endoscope systems market with a share of 82% in 2010, followed by Olympus with a share of 13%. Given Imaging with its strong product portfolio is a key market player in capsule endoscope systems market. Given Imaging holds a competitive advantage in the capsule endoscope systems market due to its range of products and solutions.
The Given Imaging product portfolio in the capsule endoscope system device market includes PillCam ESO, PillCam SB, and a PillCam COLON which is undergoing clinical trials for safety and efficacy. Given Imaging, among other companies, is conducting several clinical trials on different capsule endoscope system models so as to offer enhanced features such as locomotion and steering capabilities, as well as exploring possible applications such as drug delivery, biosensing, tactile sensing and pH sensing
GlobalData's new report, "Capsule Endoscope Systems - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017" provides key data, information and analysis on the global capsule endoscope systems market. The report provides market landscape, competitive landscape and market trends information on the capsule endoscope systems market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings.
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