Press release
Smart Pills Market: Global Market Size, Dynamics, Regional Share, Trends, Competitor Analysis 2013 to 2017 and Forecast 2018 to 2024
Smart Pills Market
Global smart pills market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) over 2018 to 2024.
Market Outline: Smart Pills Market
Smart pills are the injectable medical devices taken orally to examine gastrointestinal tract. The advanced smart pills enable disease diagnosis, patient monitoring, and help to improve the drug delivery. Cameras, trackers, and sensors are commonly used smart pills swallowed by patient to get complete GI evaluation without surgery. Smart pills expected to replace the conventional diagnostic techniques such as colonoscopy and endoscopy.
Market Dynamics: Smart Pills Market
Increase in geriatric population coupled with rise in preference for minimally invasive surgical procedures are anticipated to drive the global smart pills market. Moreover, technological advancements of the smart pills, rise in prevalence of GI disorders, sophisticated healthcare infrastructure, wide applications with smart pills, and rise in disposable income are anticipated to fuel the global smart pills market over the forecast period. However, high cost of products, technological constraints the efficiency of capsule endoscopes, and patients fear regarding the smart pill swallowing are expected to dampen the growth of smart pills market.
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Market Scope: Smart Pills Market
Smart Pills market is segmented based on the application, target area, and end user
Based on the application, the market is segmented into the following:
• Drug Delivery
• Capsule Endoscopy
• Patient Monitoring
Based on the target area, the market is segmented into the following
• Stomach
• Esophagus
• Large Intestine
• Small Intestine
Based on the distribution channel, the market is segmented into the following:
• Hospitals
• Clinics
• Research Institutes
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Regional Analysis: Smart Pills Market
Geographically, global smart pills market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America smart pills market has a lucrative share attributed to increase in the prevalence of GI disorders due to change in lifestyle, innovation of newer smart pills by market players, and favorable reimbursement policies are fuel the market. Europe smart pills market is poised to grow at a notable CAGR due to adoption of technologically advanced smart pills, rise in government investment in healthcare sector, and well established healthcare infrastructure. Asia Pacific smart pills market has a lucrative growth owing to large patient pool with GI disorders, increase in healthcare expenditure, and entry of market players into Asia Pacific region are fuel the market.
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Competition Assessment: Smart Pills Market
Some of the players in the global smart pills market include:
• Medimetrics S.A. de C.V. (Mexico)
• CapsoVision, Inc. (U.S.)
• Bio-Images Research Limited (U.K.)
• Olympus Corporation (Japan)
• Given Imaging, Inc. (Israel)
• SmartPill Corporation (U.S.)
• Siemens Healthineers (U.S.)
• Medtronic plc (Ireland)
• Koninklijke Philips N.V. (Netherlands)
• GE Healthcare (U.S.)
• Otsuka America Pharmaceutical, Inc. (U.S.)
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