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Smart Pills Market Likely to Emerge Over a Period of 2018 - 2025 | Growth Registered at 12.1% CAGR

03-14-2019 04:38 AM CET | Health & Medicine

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Smart Pills Market Likely to Emerge Over a Period of 2018 - 2025 |

The increasing prevalence of gastrointestinal (GI) disorders among the geriatric population and the growing requirement for diagnostic examinations drive the growth of the market. However, long approval process and high cost related to smart pills hinder the market growth. On the other hand, the augmenting need for technological advancements and heavy inflow of R&D investments would provide new opportunities to the market.

The research provides detailed analyses of the top investment pockets, industry trends, driving forces & opportunities, key market segments, major developments, and competitive landscape. According to the report, the global smart pills market generated $256.7 million in 2017 and is estimated to reach $650.3 million by 2025, growing at a CAGR of 12.1% from 2018 to 2025.

Market players are Proteus Digital Health, HQ, Inc., CapsoVision, Inc., Medtronic Plc., Olympus Corporations, IntroMedic Co., Ltd, RF Co., Ltd, JINSHAN Science & Technology, Check-Cap, and Koninklijke Philips N.V.

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Small intestine segment to dominate in terms of revenue by 2025 -

Smart pills for small intestine segment accounted for nearly half of the total market share in 2017, owing to the prevalence of small intestinal disorders including Crohn's Disease, celiac disease, and others. This segment would remain dominant in terms of revenue through 2025. Moreover, smart pills for large intestine segment would register the highest CAGR of 13.6% from 2018 to 2025, owing to rise in incidence of large intestinal disorders including colon cancer and others. The other target areas analyzed in the report include esophagus and stomach.

Diagnostic centers segment to contribute its lion's share by 2025 -

Diagnostic centers segment accounted for more than half of the total market share in 2017 and is expected to continue its lion's share through 2025. This is attributed to the rise in adoption of capsule endoscopes for the diagnosis of GI tract disorders along with safe, cost-efficient, and less time-consuming protocols followed at diagnostic centers. However, hospitals segment would grow at the highest CAGR of 12.6% from 2018 to 2025, owing to the increase in hospitalization rate for disease diagnosis. The research centers segment would grow at a steady rate during the forecast period.

North America to garner the highest revenue, Asia-Pacific to grow the fastest -

Easy access and rapid adoption of the newest endoscopic technologies in North America have enabled the region to contribute nearly half of the total market share 2017. However, Asia-Pacific would register the highest CAGR of 14% from 2018 to 2025, owing to rise in prevalence of GI disorders and huge investments in R&D activities by major industry players.

Key Findings of the Smart Pills Market Study:

• The small intestine segment, by target area dominated the smart pills market in 2017 and is expected to maintain this trend during the forecast period.
• The colon disease segment, by disease indication, is expected to register highest CAGR of 13.6% from 2018-2025.
• U.S. generated the highest revenue in the global smart pills market in 2017 accounting for more than half of the market in North America.
• Asia-Pacific is the fastest growing region in the smart pills market in 2017 and is anticipated to experience rapid growth during the forecast period.

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About Us:

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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