The global capsule endoscopy market is predicted to see a 8.8 percent compound annual growth rate and exceed a value of $1.09 trillion by 2030, as investments and consumer preference for minimally invasive surgeries are on the rise.
A main reason for the market growth is a combination of the heightened presence of gastrointestinal disorders and the growing consumer demand for minimally invasive procedures, according to a June 28 news release from Reports and Data.
Consumers view capsule endoscopy as a safer, patient-friendly alternative, and physicians view it as a more accurate and effective way to observe the small intestine and provide treatment. Physicians are increasingly using this method to diagnose and treat gastrointestinal cancer, chronic abdominal pain, Crohn's disease, celiac disease, excessive bleeding and ulcers, according to the report.
The second major reason for the predicted increase in market value is increased investments in research and development activities. The growing prevalence in capsule endoscopy is accelerating the rate at which companies within the market develop product innovations, create new products, establish partnerships and participate in mergers and acquisitions, according to the report.