Smart Pills Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025– Growing geriatric population is one of the major driving factors of Global Smart Pill Market.
Smart Pills Market was valued at USD 1262.3 Million in 2018 and is projected to reach around USD 4129.4 Million by 2025, at a CAGR of 18.45% during the forecast period.
Smart pill is a wireless capsule that helps to measures pressure, ph and temperature data from GI tract and wirelessly transmits that information to a data receiver worn on a belt or lanyard. This data get downloaded to a computer, and allows physician to analyze the information. Smart pill make data available for gastric emptying time combined small/large bowel transit time and whole gut transit time. Pills can monitor diverse body functions such as ph, respiratory rate and heart rate from inside the gastrointestinal tract.
Global smart pills market report is segmented on the basis of application, target area, disease indication, end-user and region. Based on application, the smart pills market is segmented into capsule endoscopy, drug delivery and patient monitoring Based on the target area, the smart pills market is segmented into the esophagus, small intestine, large intestine and stomach. Based upon disease indication, the smart pills market is segmented into esophagus, small intestine, large intestine and stomach. Based upon end-user, the smart pills market is segmented into hospital, diagnostic center and research institute.
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The regions covered in this Smart Pills Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Smart pill is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Global Smart Pills Market Report–
Proteus CapsoVision Inc., Medtronic Plc., IntroMedic Co., Ltd, RF Co., Ltd, JINSHAN Science & Technology, Check-Cap, and Koninklijke Philips N.V, Olympus Corporations, GE Healthcare, NOVARTIS AG, Fujifilm Holdings Corporation, Bio-Images Drug Delivery Limited, Quotient Clinical Ltd., Innovative Devices LLC, Digital Health, HQ, Inc., PENTAX Medical and others.
Global Smart Pills Market Dynamics–
Growing prevalence of chronic diseases drive the growth of smart pill market. For instance; according to WHO, chronic diseases are the foremost causes of death and disability worldwide. The major chronic diseases now reason for almost 60% of all deaths and 43% of the global burden of disease. And through 2020 their influence is expected to increase and it will be 73% of all deaths and 60% of the global burden of disease. In addition, the smart pills are the more convenient alternatives to endoscopies and expeceted as a major driver of the market’s growth. Moreover, recent developments in patient monitoring systems expand the possible uses of smart pill technology. However, high price of smart pills may restrain the market growth. Moreover, research and development in this field can provide an opportunity to the market.
North America Dominates the Global Smart Pills Market
North America dominates the global smart pills market, due to fast regulatory approval of new products and rising prevalence of chronic diseases in this region. For instance; according to National Center for Chronic Disease Prevention and Health Promotion (NCCDPHP) in America 6 in 10 Americans live with at least one chronic disease like heart disease, cancer, stroke, or diabetes such instance drive the market growth. Asia Pacific is anticipated to witness the fastest growth owing to an increase in the rates of gastrointestinal disorders in the region.
Key Benefits for Global Smart Pills Market Report –
- Global market report covers in depth historical and forecast analysis.
- Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global market report helps to identify opportunities in market place.
- Global market report covers extensive analysis of emerging trends and competitive landscape.
Smart Pills Market Segmentation:–
- Capsule Endoscopy
- Drug Delivery
- Patient Monitoring
By Disease Indication
- Esophageal Diseases
- Small Bowel Diseases
- Colon Diseases
By Target Area
- Small Intestine
- Large Intestine
- Diagnostic Center
- Research Institute
- North America
- Asia Pacific
- Southeast Asia
- Latin America
- Middle East and Africa
- Rest of Middle East and Africa
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