Global Smart Pill Market is Expected to Grow USD 4.0 billion by 2024, at an Estimated Annual CAGR 16.18%
Global Smart Pill Market, By Technology, Application, Geography – Industry Trends and Forecast to 2024
Smart Pill market is an ingestible capsule which helps in measuring temperature, pressure and pH as it too analyzes the gastrointestinal issues such as constipation and gastroparesis as it can be performed at a clinic or doctor’s office in order to access motility disorders like gastroparesis and chronic constipation. Smart Pill also decreases patient down-time and furthermore eliminates radiation exposure and is the only motility test that gives an entire transit profile of the GI tract.
Major Market Drivers and Restraints:
• Favourable reimbursement scenario
• Rising preference of non-invasive procedure
• Technological incompetence and high cost
• Market Segmentation: Smart Pill Market
On the basis of technology, the smart pill market is segmented into capsule endoscopy system and gastrointestinal monitoring systems. Capsule endoscopy system is sub segmented into capsule endoscope, work stations and recorders.
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On the basis of application, the smart pill market is segmented into capsule endoscopy, monitoring and drug delivery.
• North America
• South America
• Middle East and Africa
Global Smart Pill Market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
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Some of the major players operating in smart pill market are
• CapsoVision, Inc
• Novartis, Given Imaging, Inc
• Koninklijke Philips N.V
• Medimetrics S.A. de C.V
• Olympus Corporation
• Bio-Images Research Limited
• Stryker, PENTAX Medical
• Siemens Healthcare private Limited
• Boston Scientific Corporation
• GE Corporate
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Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
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