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The market for capsule endoscopy is being driven by the growing prevalence of gastrointestinal disorders and the increasing geriatric population in both developed and developing nations. With colon cancer being reported as one of the leading causes of cancer deaths in countries, such as the United States, capsule endoscopic procedures for diagnosis are being widely adopted, hence, resulting in the market growth of capsule endoscopy. Moreover, the integration of various technological advancements such as artificial intelligence and machine learning in capsule endoscopy owing to increased government investment and increasing research and development (R&D) activities in the healthcare sector is strengthening the market growth. Furthermore, factors such as the growing levels of income and surging awareness regarding the benefits of painless and minimally invasive (MI) techniques of diagnosis are anticipated to strengthen the growth of the capsule endoscopy industry in the forecast period.
Some of the leading companies in the market are IntroMedic Co Ltd (KOSDAQ:150840) and CapsoVision Inc. The latter announced that the Food and Drug Administration (FDA) is expected to apply enforcement discretion to enable home administration of CapsoVision’s self-contained capsule endoscopy system, CapsoCam Plus, in September 2020. The system allows remote access for examining the small bowel mucosa in adults during the COVID-19 outbreak. By eliminating the need for in-person interaction between physician and patient, the CapsoCam Plus device is projected to offer optimal patient care while minimising the risk of exposure to SARS-CoV-2. Moreover, it enables the ingestion of capsules to eliminate the requirement of external equipment. The development of such innovative capsule endoscopy systems is expected to augment the market growth.
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The major players in the capsule endoscopy market are Fujifilm Holdings Corporation, Jinshan Science and Technology (Group) Co Ltd., Olympus Corporation, CapsoVision Inc., IntroMedic Co. Ltd., and Medtronic plc, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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