U.S (New York)–This Smart Pills Market Report gives evaluation and insights primarily based on authentic consultations with necessary gamers such as CEOs, Managers, Department Heads of Suppliers, Manufacturers, and Distributors etc.
The global smart pills market was valued at $257 million in 2017, and is expected to reach $650 million by 2025, registering a CAGR of 12.1% from 2018 to 2025. Smart pill is an ingestible capsule with miniaturized micro-electronics. Smart pill is designed to visualize the gastrointestinal tract, thus allowing for the diagnosis and observation of lesions and disease states or conditions. As the capsule travels through the digestive tract, the camera clicks thousands of pictures that are transmitted to a recorder worn by the patient on a belt around the waist. Smart pills are widely being used for the diagnosis of various gastrointestinal disorders such as Barrett’s Esophagus, Irritable Bowel Syndrome, GERD (Gastroesophageal reflux disease) and others.
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In addition, smart pills are also being used for targeted drug delivery and patient monitoring. Smart pills find applications in solving the problem of medication non-adherence and enables the doctor to track the medication consumption patterns of a patient.
The key factors driving the market growth include rise in prevalence of gastrointestinal disorders such as ulcers, Crohn’s disease, colon cancer and others, favorable reimbursement scenario across the globe, and the preference of a patient toward minimally invasive diagnostic procedures. In addition, benefits offered by the smart pills such as non-invasive diagnostic procedures, controlled/targeted drug delivery, and real-time patient monitoring boost the growth of the market. However, stringent governmental regulations regarding the use of smart pills and high cost associated with them are anticipated to hamper the market growth. On the contrary, technological advancements, such as microprocessors, micro-camera, micro-sensors, and others, are predicted to create lucrative opportunities in the future.
The global smart pills market is segmented based on application, target area, disease indication, end user, and region. Based on application, the market is divided into capsule endoscopy, drug delivery, and patient monitoring. Based on target area, the market is classified into esophagus, small intestine, large intestine, and stomach. Based on disease indication, it is classified into Barrett’s esophagus, Crohn’s disease, small bowel tumor, celiac disease, colon cancer, and others. Based on end user, it is classified into hospital, diagnostic center, and research center. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
Key Benefits for Smart Pills Market :
The study provides an in-depth analysis of the smart pills market with the current trends and future estimations to elucidate the imminent investment pockets.
A comprehensive analysis of the factors that drive and restrict the market growth is provided.
A comprehensive quantitative analysis of the industry is provided from 2018 to 2025 to assist stakeholders to capitalize on the prevailing market opportunities.
An extensive analysis of the key segments of the industry helps to understand the trends in the smart pills market globally.
Key players and their strategies are provided to understand the competitive outlook of the industry.
Smart Pills Key Market Segments :
By Application
Capsule Endoscopy
Drug Delivery
Patient Monitoring
By Target Area
Esophagus
Small Intestine
Large Intestine
Stomach
By Disease Indication
Esophageal Diseases
Small Bowel Diseases
Colon Diseases
Others
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By End User
Hospital
Diagnostic Center
Research Institute
By Region
North America
U.S.
Canada
Mexico
Europe
UK
France
Germany
Italy
France
Russia
Rest of Europe
Asia-Pacific
Japan
China
India
South Korea
Taiwan
Australia
Rest of Asia-Pacific
LAMEA
Saudi Arabia
South Africa
Brazil
Turkey
Argentina
Rest of LAMEA
KEY MARKET PLAYERS
Proteus Digital Health
HQ, Inc.
CapsoVision, Inc.
Medtronic Plc.
Olympus Corporations
IntroMedic Co., Ltd
RF Co., Ltd
JINSHAN Science & Technology
Check Cap
Koninklijke Philips N.V
The other players in the value chain include (profiles not included in the report)
GE Healthcare
NOVARTIS AG
Fujifilm Holdings Corporation
Bio-Images Drug Delivery (BDD) Limited
Quotient Clinical Ltd.
Innovative Devices LLC
PENTAX Medical
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
In this report, the following important queries are addressed:
- What is the Global market’s sales value, production value, consumption value, import, and export (including North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
- Who are the major manufacturers in this sector on a global scale? How are their capacity, production, sales, pricing, cost, gross, and revenue operating?
- What are the vendors’ market prospects and risks in the international industry?
- Which product types, end users, or applications might be looking for additional growth prospects? What is each type’s and application’s market share?
- What specific strategies and limitations are keeping the market in check?
- What is the various marketing, sales, and distribution channels in the international market?
- What are the upstream raw materials, as well as the manufacturing machinery?
- What are the Market opportunities, market risk, and market overview of this industry?
Key Benefits of This Market Research:
- Industry drivers, restraints, and possibilities included in the study
- Neutral point of view on the market performance
- Recent enterprise developments and developments
- Competitive panorama and techniques of key players
- Potential and area of interest segments and areas exhibiting promising increase covered
- Historical, current, and projected market size, in phrases of value
- In-depth evaluation of the Market
- Overview of the regional outlook of the Market
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