Smart pills are innovative ingestible medical devices that are finding application opportunities in areas such as diagnosis, drug delivery, and treatment. Substantial emphasis is being placed on the expansion and innovation of capsule-sized medical devices to make numerous safer and simpler types of medical procedures.
Major Key Players Competitive Analysis Covered:
The key players identified in the global smart pills market are
BDD Limited
Check-Cap
CapsoVision
INTROMEDIC
PENTAX Medical
JINSHAN Science & Technology
RF Co. Ltd. Inc.
Olympus Corporation
Proteus Digital Health
FUJIFILM Holdings Corporation Inc.
MEDISAFE
MEDTRONIC
Market Research Future (MRFR), the global smart pills market is expected to acquire a substantial market share at an impressive CAGR of 14.2% during the review period.
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The rising global geriatric population and growing prevalence of numerous types of chronic and acute disorders such as cancer, diabetes, and others, are influencing the growth of the smart pills market since they have led to a greater need for innovative medical solutions such as smart pills. These pills enable on-site diagnosis with smallest medical arrangements. On the other hand, there are numerous hindering factors in the form of government regulatory norms, the extensive product approval process, and expensive cost of advanced medical devices are likely to impact the market negatively over the review period.
Segmental Analysis
The global market for smart pills is segmented based on the target area, application, end-user, and disease indication.
Based on the target area, the market has been segmented into the esophagus, large intestine, stomach, and small intestine.
Based on the application, the smart pills market has been segmented into capsule endoscopy, drug delivery, patient monitoring, and others. The capsule endoscopy segment has been sub-segmented into controllable capsule endoscopy, colon capsule endoscopy, small bowel capsule endoscopy, and others. The patient monitoring segment is sub-segmented into capsule pH monitoring and others. Bases on end-user, the market has been into the diagnostic center, hospitals, and research institute. Based on the disease indication, the market is segmented into colon diseases, esophageal diseases, small bowel diseases, and others.
Regional Analysis
the global smart pills market has been covered across The Americas (North America and Latin America), the Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
The Americas (North America and South America) account for the largest market share in terms of value. North America, especially, is expected to retain its market share and continue to be highly lucrative during the assessment period. Influential factors such as the increasing prevalence of chronic disorders, the presence of steady reimbursement policies, and the rapid adoption of new age medical technologies are expected to contribute favorably on the region’s market.
Europe is assessed as the second largest region in the global smart pills market. It is driven significantly by factors such as the high healthcare expenditure by the government and increased the focus of market players on delivering efficient healthcare services.
The smart pills market in the Asia Pacific is expected to witness the fastest growth during the forecast period. The market growth is driven by the increasing patient pool, rapid healthcare penetration, rising investment in healthcare are enabling the smart pills market in APAC to display a healthy CAGR over the forecast period.
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The market in the Middle East and Africa is also likely to witness a rise in its growth rate over the review period. The healthcare sector is experiencing a tremendous change in the Middles East, which developing countries such as Saudi Arabia, UAE, and Qatar are leading. However, the unrest caused by politics and socio-political ideologies in certain parts of the MEA countries along with extensive dependence on the oil and gas sector may cause gradual growth.
LIST OF TABLES
Table 1 Global Smart Pills Market Synopsis, 2018–2023
Table 2 Global Smart Pills Market Estimates And Forecast, 2018–2023 (USD Million)
Table 3 Global Smart Pills Market, By Region, 2018–2023 (USD Million)
Table 4 Global Smart Pills Market, By Application, 2018–2023 (USD Million)
Table 5 Global Smart Pills Market, By Target Area, 2018–2023 (USD Million)
Table 6 Global Smart Pills Market, By Disease Indication, 2018–2023 (USD Million)
Table 7 Global Smart Pills Market, By End-User, 2018–2023 (USD Million)
Table 8 North America: Smart Pills Market, By Application, 2018–2023 (USD
Million)
…To be Continued.
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