The market share of the domestic three giants exceeded 80 per cent! The market demand for this endoscopic field iexpanding rapidly

On July 12, 2024, Guangzhou SIDECE released the world’s first capsule mobile gastroscope, which is the world’s first mobile capsule gastroscope system without a host, wearable devices, and can be applied in multiple scenarios on a large scale, filling the international gap.

Capsule endoscope is a painless and non-invasive diagnostic tool. The capsule endoscope looks like an ordinary small pill, which can be swallowed with water to complete the endoscopic examination of the digestive tract, filling the gaps that cannot be seen by gastroscopy and colonoscopy, greatly improving the diagnosis and detection rate of digestive diseases.

01

The proportion of certified domestic brands has exceeded 80%

The barrier to entry for capsule endoscopy technology is high, and there are few market participants. The number of new registration certificates for capsule endoscopes has been on the rise over the years, with some years experiencing a surge in approved numbers. Among them, the brands newly approved for capsule endoscopy in 2024 are SIDECE Medical’s capsule gastroscopy system and Huiwei Medical’s capsule ultrasound electronic esophagoscope.

From the perspective of the number of certificates obtained by enterprises, due to some expired certificates that have not been renewed, there are currently 11 companies holding 21 valid capsule endoscope registration certificates, including 8 domestic brands and 3 imported brands.

02

High market concentration

The market share of the three domestic giants has exceeded 80%

According to estimates, the market size of capsule endoscopy in China has grown rapidly from 2019 to 2022, with a compound annual growth rate of up to 35.87%. With the favorable policies of increased market volume and updated medical equipment after the end of the epidemic, it is expected that the market size will reach 1.54 billion in 2024.

In terms of market share, the localization rate of capsule gastroscopy industry is relatively high, with Jinshan Science&Technology, Ankon, and Jifu Medical accounting for over 80% of the total market share. The market share of imported brands is relatively low, and the overall market concentration is high.

03

There is a huge demand for early screening of digestive tract cancer

Non invasive and painless examination may become the preferred choice for patients in the future

According to the China’s Malignant Tumor Disease Burden in 2022 issued by the National Cancer Center in 2024, China’s colorectal cancer and gastric cancer ranked among the top five incidence rate of all cancers in 2022, with the number of new patients exceeding 875800.

The “Healthy China 2030” initiative proposes to strengthen the prevention and control of major diseases, implement cancer prevention and control actions, promote prevention screening, early diagnosis and treatment, and scientific research, and focus on alleviating the pain points of people’s livelihoods.

At present, although capsule endoscopy is relatively expensive, some provinces and cities have gradually included it in healthcare security.. With the inclusion of capsule endoscopy in medical insurance nationwide in the future, the capsule endoscopy market is bound to further expand, and the market size is expected to reach 2.3 billion by 2030.

China is encouraging China end uses for more domestic products in latest years. Thus, more and more overseas manufacturers are planning localization in China. BradyKnows localization team has extensive experiences in facility establishment, audit, supplier evaluation, manufacturing, registration, and marketing in China. Pls feel free to let us know any questions on China entry via info@bradyknowsmedical.com

Source：Joinchain

Translated & edited：Bradyknow