The market for capsule endoscopy is one of the fastest growing segments in the multibillion-dollar gastrointestinal endoscopy market. The market opportunity is vast and highly underpenetrated, and an increasing number of competitors, new product innovations, and expanding indications for the technology are positioning capsule endoscopy as a market poised for growth – particularly if the technology is proven and FDA cleared for colon cancer indications.
Article preview from Medtech Insight - August, 2012
Capsule endoscopy is one of the fastest growing segments in the multibillion dollar gastrointestinal (GI) endoscopy market. Capsule endoscopy is a procedure in which patients swallow a tiny wireless camera that takes video images of the gastrointestinal tract as it passively travels through the digestive system. This pill-like video camera wirelessly transmits digital images of the digestive tract to a patient-worn receiver where the images are recorded and later downloaded for physician viewing. This revolutionary technology hit the US market in 2001 when market leader and capsule endoscopy pioneer, Given Imaging Ltd., first received US Food and Drug Administration (FDA) approval for its PillCam Platform for small bowel indications. Since then, the market has grown substantially, driven by increasing acceptance of capsule endoscopy, new indications for the technology, expanded reimbursement, and growth outside the US.
Although to date capsule endoscopy has been a relatively small part of the overall market for GI endoscopy products, and physicians have mostly used the devices to diagnose disorders of the small intestines and esophagus, the technology is poised for even greater growth ahead as manufacturers introduce new products capable of diagnosing disorders throughout the GI tract. With a growing number of competitors, new product innovations, and expanding indications for the technology, the market for capsule endoscopy could expand dramatically in the next few years, particularly if the technology is proven and FDA cleared for colon cancer indications. Companies with current or emerging technologies for capsule endoscopy include Given Imaging, Olympus Medical Systems Corp./Olympus Corp., IntroMedic Co. Ltd., CapsoVision Inc., Mu Ltd. of Japan, and Jianshan Science & Technology Ltd., based in Chongqing, China.
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