Press release
Smart Pills Market is Estimated to Experience a Notable Rise in the Span of Coming Years | CapsoVision, Inc., Medtronic Plc
Smart Pills Market
The research report published by Allied Market Report states that the global smart pills market is estimated to reach $650 million by 2025. The report provides an in-depth analysis of growth factors, opportunities, market trends, key segments, and competitive landscape. Current market conditions and the future scenario of various regions have been analyzed in the report to help market players in devising expansion strategies. Moreover, it includes country-wise analysis of each region. Product portfolio and business segments of leading market players outline the competitive scenario. The report provides insights to help investors, stakeholders, and new entrants to determine potential opportunities and tap on them to gain competitive advantage.
The capsule endoscopy segment accounted for more than half of the total market share in 2017.
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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.
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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.
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 Major Key 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.
The Other Key Players Are:
GE Healthcare, NOVARTIS AG, Fujifilm Holdings Corporation, Bio-Images Drug Delivery (BDD) Limited, Quotient Clinical Ltd., Innovative Devices LLC, and PENTAX Medical.
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About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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