Ingestible Smart Pills Market will possibly reach US$ 1,475.2 Mn Revenues by 2024

Advancements in the field of medical technology will continue to be directed towards processes that help manufacturers miniaturize their healthcare products, but without impacting their effectiveness. Persistence Market Research recently published its report on the global market for ingestible smart pills which projects that high demand for miniaturization of diagnostic disorders is driving the demand for ingestible smart pills. By the end of 2024, the global ingestible smart pills market is projected to grow at 7.7% CAGR and reach US$ 1,475.2 Mn in value.

In the report, titled “Ingestible Smart Pills Market: Global Industry Analysis and Forecast, 2016-2024,” the global demand for ingestible smart pills is predicted to surge on the account of following factors:

Read Report Overview @ https://www.persistencemarketresearch.com/market-research/ingestible-smart-pills-market.asp

Increasing Prevalence of Gastrointestinal Disorders: The report estimates that in a region like North America, more than 60 million people are annually diagnosed with gastrointestinal diseases. Early diagnosis of such disorders compels the use of proper endoscopic treatment, which incidentally necessitates the use of ingestible smart pills.

Availability of Accurate Data on Ingestible Smart Pills: Being the next big frontier in novel medical imaging & monitoring technology, ingestible smart pills are being extensively researched and compatible software for deriving data from these pills is being developed, and simultaneously upgraded. Component Advancements in Endoscopy: New endoscopic components developed by research institutes are treading along the trend of product miniaturization, supporting the inclusion of ingestible smart pills in endoscopic therapies.

Request Sample Report@ https://www.persistencemarketresearch.com/samples/14371

According to the report, more than 80% of global ingestible smart pill revenues will be emanating from sales of smart pills, as opposed to workstations. Demand for workstations is expected to witness downtrend towards the latter half of the forecast period. The report reveals that eight out of ten ingestible smart pills produced in the world will be used for medical imaging applications. In 2016, more than US$ 800 Mn worth of ingestible smart pills were accounted by medical imaging applications. The present value of global ingestible smart pills market is estimated to be US$ 958.2 Mn. By 2024-end, around 17% of this value will be attributed by revenues arising from sales of ingestible smart pills in health monitoring applications.

Download and View Report TOC, Figures and Tables @ https://www.persistencemarketresearch.com/market-research/ingestible-smart-pills-market/toc

The report also reveals that hospitals are the largest end-users of ingestible smart pills in the world. With more than 43% share, manufacturers of ingestible smart pills will continue directing their sales towards hospitals. Demand for ingestible smart pills is also expected to gain traction among clinics. In 2017 and beyond, North America will be observed as the most dominant region in the global ingestible smart pill market.

Although, the ingestible smart pills market in Asia-Pacific is expected to register speedy revenue growth at over 6% CAGR. The report has also profiled leading players in the global ingestible smart pill market, which include BodyCap Medical, Philips Respironics, Given Imaging Ltd., Olympus Corporation, Check-Cap Ltd., IntroMedic Co., Ltd., Medimetrics, CapsoVision, Inc., Proteus Digital Health, Inc., and Chongqing Jinshan Science and Component (Group) Co., Ltd.

About Us
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

Contact Us
Persistence Market Research
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353
Email: sales@persistencemarketresearch.com
Web: http://www.persistencemarketresearch.com

This release was published on openPR.