Smart Pills Market, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years.
The global smart pills market was valued at $257 million in 2017, and is expected to reach $650 million by 2025, registering a CAGR of 12.1% from 2018 to 2025. Smart pill is an ingestible capsule with miniaturized micro-electronics. Smart pill is designed to visualize the gastrointestinal tract, thus allowing for the diagnosis and observation of lesions and disease states or conditions. As the capsule travels through the digestive tract, the camera clicks thousands of pictures that are transmitted to a recorder worn by the patient on a belt around the waist. Smart pills are widely being used for the diagnosis of various gastrointestinal disorders such as Barrett’s Esophagus, Irritable Bowel Syndrome, GERD (Gastroesophageal reflux disease) and others. In addition, smart pills are also being used for targeted drug delivery and patient monitoring. Smart pills find applications in solving the problem of medication non-adherence and enables the doctor to track the medication consumption patterns of a patient.
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The key factors driving the market growth include rise in prevalence of gastrointestinal disorders such as ulcers, Crohn’s disease, colon cancer and others, favorable reimbursement scenario across the globe, and the preference of a patient toward minimally invasive diagnostic procedures. In addition, benefits offered by the smart pills such as non-invasive diagnostic procedures, controlled/targeted drug delivery, and real-time patient monitoring boost the growth of the market. However, stringent governmental regulations regarding the use of smart pills and high cost associated with them are anticipated to hamper the market growth. On the contrary, technological advancements, such as microprocessors, micro-camera, micro-sensors, and others, are predicted to create lucrative opportunities in the future.
The global smart pills market is segmented based on application, target area, disease indication, end user, and region. Based on application, the market is divided into capsule endoscopy, drug delivery, and patient monitoring. Based on target area, the market is classified into esophagus, small intestine, large intestine, and stomach. Based on disease indication, it is classified into Barrett’s esophagus, Crohn’s disease, small bowel tumor, celiac disease, colon cancer, and others. Based on end user, it is classified into hospital, diagnostic center, and research center. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits for Stakeholders:
- The study provides an in-depth analysis of the smart pills market with the current trends and future estimations to elucidate the imminent investment pockets.
- A comprehensive analysis of the factors that drive and restrict the market growth is provided.
- A comprehensive quantitative analysis of the industry is provided from 2018 to 2025 to assist stakeholders to capitalize on the prevailing market opportunities.
- An extensive analysis of the key segments of the industry helps to understand the trends in the smart pills market globally.
- Key players and their strategies are provided to understand the competitive outlook of the industry.
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Smart Pills Key Market Segments :
By Application
Capsule Endoscopy
Drug Delivery
Patient Monitoring
By Target Area
Esophagus
Small Intestine
Large Intestine
Stomach
By Disease Indication
Esophageal Diseases
Small Bowel Diseases
Colon Diseases
Others
By End User
Hospital
Diagnostic Center
Research Institute
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