The pharmaceutical industry is making use of AI for discovering new-fangled drugs. January 2020 witnessed the invention of the very first drug molecule using AI, whose patent lay with Japanese and British scientists. The medicine is being used for treating OCD (obsessive-compulsive disorder). Likewise, several promising formulas are being discovered as an outcome of AI-enabled lab experimenting. This would how the Capsule Endoscopy Belts Market look in the near future.
Capsule Endoscopy belts Examination is a Diagnostic procedure that consist of small wireless camera embedded in a vitamin-size capsule that take pictures of digestive tract. Capsule endoscopy belts was developed in mid 1990s, and has received FDA approval for use on 2001, and was FDA approved a first line small intestinal imaging device in 2003.
These capsules are very small, easy to swallow, painless and disposable in characteristics. Capsule endoscopy belts device is used to diagnose the Gastrointestinal related disorders such as GI bleeding, bowel diseases, stomach cancer and ciliac disease amongst other applications.
The capsule travel through the digestive tract from esophagus to small intestine, the camera takes thousands of pictures in all over the areas of GI system during the procedure. These pictures are transmitted to a data recorder which is implanted on a belt. The capsule endoscopy camera take 50,000 to 60,000 digital images in 8-9 hours.
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The procedure take 8-12 hours but the patient can go perform there routine task during the study. The capsule endoscopy belt includes wireless capsule, work station, sensor and data recorder. The data recording system is device that will be worn around the patient’s waist so that the images captured by the capsule will transmit easily to the data recording system.
The elderly population is highly prone to gastrointestinal diseases including certain types of cancers. The capsule endoscopy belts devices plays an integral role in early diagnosis and in the treatment of these diseases, along with innovative imaging technologies and new component innovations.
Rise in number of chronic gastrointestinal diseases such cancer, GI bleeding in developed as well as developing countries are expected to be the major driver of capsule endoscopy belts market over the forecast period.
Moreover, favorable reimbursement scenario in some developed region along with adoption of people towards technology enabled procedures are some drivers responsible for the growth of capsule endoscopy belts market over the coming years.
However, high cost of the procedure and complication such as capsule retention inside the body are some of the factor associated to impede the market growth over the forecast period. Also, poor health care facility and substitutes available in developing economies will also contribute to hamper the market potential over the coming years.
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The global capsule endoscopy belts market is segmented on the basis of product type, component type, by application, by end user and by region.
Capsule endoscopy belts market segmentation by product type:
- Oesophageal Capsule
- Small Bowel Capsule
- Colon Capsule
Capsule Endoscopy belts market segmentation by Component type:
- Capsule endoscopy Belts System
- Workstation and Recorders
Capsule Endoscopy belts market segmentation by Application:
- Chron’s Disease
- Small bowel Diseases
- Obscure Gastrointestinal diseases
- Small intestine diseases
- Esophageal diseases
- Colonic Diseases
- Others
Capsule Endoscopy belts market segmentation by end user:
- Hospital
- Ambulatory Surgical centers
- Specialty clinics
The capsule endoscopy belts market is expected to grow exponentially over the forecast period owing to have more number of R&D for technological innovations. The component segment of capsule endoscopy belts market is expected to hold the major market share over the forecast period due to its more number of units sold in the market.
According to the study, approximately 141,000 people in United States were diagnosed with GI related cancers and around 49,000 people died in the year 2011 as per the data revealed by American cancer Society. Also, according the Centers for Disease Control and Prevention, around 1.3% of U.S. adults were diagnosed with Crohn’s disease as compared to 0.9% adult patients in the year 1999.
Capsule endoscopy belts are widely used for the diagnosis of GI Bleeding considering the fact, the obscure gastrointestinal disease by application is expected to hold the next major share over the forecast period.
Geographically, the global Capsule endoscopy Belts market is segmented into regions such as Latin America, Europe, North America, South Asia, East Asia Middle East & Africa and Oceania. North America is expected to hold the major revenue due to acceptance of technologically enabled devices and due to availability of good healthcare infrastructure.
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The Europe region will show the next robust growth in terms of revenue share due to their reimbursement policies over the coming years South Asia And East Asia is expected to show a next robust growth due to increasing more number of healthcare facilities in these regions.
Middle East and Africa is expected to be the most lucrative regions considering the fact of poor healthcare infrastructure in these region. Considering all the fact, the Capsule endoscopy Belts market is expected to grow exponentially over the forecast period.
Example of some of the market participants of Capsule endoscopy Belts market identifies across the value chain include Medtronic Plc, Olympus Corporation, Stratis Medical Inc., Fujifilm Corporation, IntoMedic Co., Ltd., CapsoVision, RF System Lab, Chongqing Jinshan Science and Technology (Group) Co., Ltd, Given Imaging Ltd. Are some key market player for capsule endoscopy Belts market.
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