The capsule endoscopy systems market is expected to generate revenue of $399.7 million by 2020, registering a compound annual growth rate (CAGR) of 14.8 percent during 2015-2020, according to a report from Allied Market Research.

In 2014, the wireless disposable capsules segment held about 95 percent of the overall market and will continue to dominate the market throughout the forecast period, the report says.

Capsule endoscopy is an advanced non-invasive technique that uses wireless disposable video capsule, workstations and recorders for the diagnosis of gastrointestinal disorders such as peptic ulcers, Crohn's disease and obscure gastrointestinal bleeding. The capsule aids in capturing images, which are transmitted to the recorders and analyzed through workstations software.

Capsule endoscopy is on track to gradually replace conventional gastrointestinal monitoring techniques, largely due to the non-invasiveness and convenience, according to the report.

The report also found that the small bowel diseases segment accounted for the highest revenue in 2014. The wireless disposable capsules segment is projected to be the fastest growing segment in global capsule endoscopy systems component market, registering a CAGR of about 15.3 percent during the forecast period.

The Asia-Pacific region is projected to be the fastest growing capsule endoscopy market, registering a CAGR of 15.5 percent during 2015-2020. North America and Europe together accounted for about 83 percent of the capsule endoscopy systems market revenue in 2014 and are expected to maintain their lead throughout the forecast period. A large patient base, rising healthcare costs and quick adoption of innovative technologies are the key factors responsible for market growth in these regions, according to the report.

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