Smart Pills Market Global Outlook 2019: Technological Growth, Essential Factors, Comprehensive Insights on Value with Status Analysis, Forecast 2023

Smart Pills Market: Information by Application (Patient Monitoring and Others), Target Area (Esophagus, Small Intestine, and Others), Disease Indication (Disease Indication, and Others) End User (Hospitals and Others)—Global Forecast till 2023

Market Outlook

MRFR in its latest report projects that the global smart pills market will surge as impressive CAGR of 14.2% during the review period. Smart pills are ground-breaking ingestible medical devices.

They are finding application opportunities in areas such as drug delivery, treatment and diagnosis. A considerable emphasis is being placed on development of capsule-sized medical devices to make various types of medical procedures safer and simpler.

Expanding global geriatric population and increased prevalence of various types of chronic and acute disorders such as cancer, diabetes etc have led to a greater need for innovative medical solutions such as smart pills.

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Key Players

INTROMEDIC, PENTAX Medical, JINSHAN Science & Technology, Check-Cap, RF Co., Ltd., CapsoVision, Inc., Olympus Corporation, FUJIFILM Holdings Corporation, Proteus Digital Health, Inc., BDD Limited, MEDISAFE and MEDTRONIC are some of notable market players mentioned in the report.

Market Segmentation:

MRFR’s report includes a detailed segmental analysis of the market based on target area, application, end-user and disease indication.

By target area, the market has been segmented into esophagus, stomach, large intestine and small intestine.

By application, the market has been segmented into drug delivery, patient monitoring, capsule endoscopy and others. The capsule endoscopy segment is further sub-segmented into colon capsule endoscopy, controllable capsule endoscopy, small bowel capsule endoscopy and others. The patient monitoring segment is further sub-segmented into capsule pH monitoring and others. Bases on end-user, the market has been into diagnostic center, research institute and hospitals.

By disease indication, the market is segmented into small bowel diseases, esophageal diseases, colon diseases and others.

Market by Regional Analysis

The Americas are expected to dominate the global smart pills market owing to the favorable reimbursement policies, increasing prevalence of chronic diseases, and adoption of highly advanced technology. According to The Partnership to Fight Chronic Disease (PFCD), more than 133 million Americans are suffering from at least one chronic disease which is equal to 45% of the total population and responsible for 7 out of 10 deaths.

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The European market is expected to be the second-largest smart pills market. The market growth in this region can be attributed to the increasing number of lifestyle-related diseases like obesity, gastroesophageal reflux disease (GERD), and gastric ulcers along with rising healthcare expenditure are expected to drive the growth of the market. According to the European Commission, in 2016 European nations invested 16.2% of its total expenditure on healthcare.

Asia-Pacific is expected to be the fastest-growing smart pills market during the forecast period owing to the increasing geriatric population in the region, continuously increasing investment in healthcare and the adoption of technology in healthcare. According to the Economic and Social Commission for Asia and the Pacific (ESCAP), 12.4% of the total Asian population is 60 or above 60-year-old and by 2050 one third of the population will cross 60 years.

The market in the Middle East & Africa is expected to account for the smallest share of the global smart pills market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.

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