Press release
Smart Pills Market by Top Manufacturers – Proteus Digital Health, HQ, Inc., CapsoVision, Inc., Medtronic Plc., Olympus Corporations, IntroMedic Co., Ltd, RF Co., Ltd, JINSHAN Science & Technology, and Koninklijke Philips N.V.
Global Smart Pills Market
A considerable increase in geriatric population, rise in chronic disorders such as cancer, diabetes, and others, and surge in prevalence of lifestyle-related disorders, such as obesity, gastroesophageal reflux disease (GERD), gastric ulcers, and others majorly drive the growth of the smart pills market. In addition, increased R&D investments in developing smart pills further boost the market growth. However, stringent government regulations regarding the increased use of these devices and high cost associated with the ingestible sensors are the factors anticipated to restrain the growth of the market. Furthermore, rise in technological advances pertaining to smart pills such as bioelectronics, availability of microprocessors, micro-cameras, miniaturization, and others are predicted to offer lucrative opportunities in future.
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Smart pills are capsule-sized ingestible medical devices that consist of micro-sensors, micro-cameras, patches, and trackers. Smart pills by making use of these micro-sensors and cameras help in more appropriate and non-invasive disease diagnostics. Smart pills, being non-invasive can be a potent alternative approach against invasive procedures such as gastrointestinal endoscopy/colonoscopy. The product has its wide application in drug delivery and real-time patient monitoring. It is an innovative approach to gather images from areas of the gastrointestinal tract, such as colon, where traditional endoscopies are unable to reach. Once swallowed, sensors provide information about various health parameters of the patient and the effectiveness of the medication treatment, which facilitate in taking informed healthcare decisions and optimized therapies.
Moreover, a significant rise in geriatric population, rise in chronic disorders such as cancer, diabetes, and others, drive the smart pills market growth. In addition, increased R&D investments by manufacturers in developing smart pills boosts the market growth. However, stringent governmental regulations regarding the vigorous use of these devices and high cost associated with the ingestible sensors is anticipated to restrain the market growth. On the contrary, surge in technological advances in bioelectronics, and availability of microprocessors are anticipated to offer lucrative opportunities in the future.
The capsule endoscopy segment generated the highest revenue in 2017 and is expected to maintain its dominance throughout the forecast period. This is attributed to the increase in use of capsule endoscopes for diagnosis of gastrointestinal disorders and surge in preferences for non-invasive procedures. In addition, the capsule endoscopy segment is expected to register the highest growth rate during the forecast period.
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North America was the leading revenue contributor to the global market in 2017, owing to the increase in healthcare investments by the government, surge in R&D expenditure for the development of smart pills, and technological advancements regarding diagnostic procedures. Asia-Pacific is expected to witness the highest growth rate throughout the forecast period, due to increase in healthcare facilities, surge in disposable income, and rise in awareness towards non-invasive diagnostic procedures.
The report provides an extensive competitive analysis and profiles of the key market players, such as
• Proteus Digital Health, HQ, Inc.,
• CapsoVision, Inc.,
• Medtronic Plc.,
• Olympus Corporations,
• IntroMedic Co., Ltd,
• RF Co., Ltd,
• JINSHAN Science & Technology, 3
• Check Cap, and
• Koninklijke Philips N.V.
The other players in the value chain (not included in the report) include GE Healthcare, NOVARTIS AG, Fujifilm Holdings Corporation, Bio-Images Drug Delivery (BDD) Limited, Quotient Clinical Ltd., Innovative Devices LLC, and PENTAX Medical.
Table Of Content
Chapter: 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models
Chapter: 2: EXECUTIVE SUMMARY
2.1. CXO perspective
Chapter: 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.2.2. Top Winning Strategies
3.3. Porters five forces analysis
3.4. Market share analysis
3.5. Market dynamics
3.5.1. Drivers
3.5.1.1. Rising prevalence of gastrointestinal disorders
3.5.1.2. Increase in the R&D investments in developing smart pills by manufacturers
3.5.2. Restraints
3.5.2.1. Lengthy timelines regarding approval of smart pills
3.5.2.2. Higher costs associated with the smart pills
3.5.3. Opportunity
3.5.3.1. Increase in the technological advancements pertaining to smart pills
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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.
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