Smart Pills Market by Application, Target Area, End User and Geography. Key Players are Medimetrics, CapsoVision, Bio-Images Research Limited, Olympus Corporation, Given Imaging, SmartPill Corporation, Siemens Healthineers, Medtronic, Philips, GE Healthca

Precision Business Insights (PBI) in its report titled “Smart Pills Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the smart pills market revenue growth over forecast period.

The smart pills market size was accounted for US$ XX Mn in 2018 and anticipated to account for US$ XX Mn by 2025. 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.

Smart pills market segmented on the basis of target area, application and end user.

Capsule Endoscopy Application Segment Expected to Dominate the Market

Based on application smart pills market is segmented into capsule endoscopy, drug delivery, and patient monitoring. The capsule endoscopy application segment was the highest contributor to the market, in 2017, and is anticipated to maintain its dominance throughout the forecast period. The growth of smart pills market is attributed to the increase in preferences toward non-invasive diagnostic procedures and the significant increase in gastrointestinal disorders across the globe.

Small Intestine Target Area Will Dominate the Revenue Share.

Based on the target area, the smart pills market is classified into the esophagus, small intestine, large intestine, and stomach. The small intestine target area accounted for the highest revenue in 2017 and is expected to maintain its dominance throughout the forecast period. The growth of the smart pill market is attributed to the significant increase in small intestinal disorders such as Crohn’s disease, celiac disease, and small bowel tumors.

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North America, Accounts for Major Revenue Share for Smart Pills Market

Precision Business Insights (PBI), smart pills market report analyses the market in different regions North America, Europe, Asia Pacific, Latin America and Middle East and Africa. According to regional analysis, North America accounted for major revenue share 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.

U.S FDA Approval Play Vital Role in Smart Pills Market

Approval from U.S FDA and launch of the product will play an important role in the development of the smart pills market. For instance, in November 2017, Otsuka America Pharmaceutical, Inc. received FDA approval for Abilify MyCite, (Aripiprazole tablets with sensor).

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Key players in the 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.).

Detailed Segmentation

By Target Area

o Stomach
o Esophagus
o Large Intestine
o Small Intestine

By Application

o Drug Delivery
o Capsule Endoscopy
o Patient Monitoring

By End Users

o Hospitals
o Clinics
o Research Institutes

Geography

o North America
 U.S.
 Canada
o Europe
 Germany
 UK
 France
 Russia
 Spain
 Italy
 Rest of Europe
o Asia-Pacific
 China
 Japan
 India
 ASEAN
 Rest of Asia Pacific
o Latin America
 Brazil
 Mexico
 Argentina
 Chile
 Rest of Latin America
o Middle East and Africa
 South Africa
 Gulf Cooperation Council Countries(GCCC)
 Rest of MEA

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This release was published on openPR.