Global Smart Pills Market was valued US$ 0.781 Bn in 2017 and is expected to reach US$ 2.234 Bn by 2026, at a CAGR of 14.04 % during a forecast period. The smart pills market is segmented into an application, target area, disease indication, end user, and region. In terms of application, smart pills market is segmented into capsule endoscopy, drug delivery, and patient monitoring. Based on target area segment, smart pills market is classified into the esophagus, small intestine, large intestine, and stomach. Further disease indication, smart pills market is divided into esophageal diseases, small bowel diseases, colon diseases, and others. In terms of the end user, smart pills market is classified into the hospital, diagnostic center, and research institute. Based on regions, the smart pills market is divided into five main regions are North America, Europe, Asia-pacific, Latin America and Middle East & Africa.
In terms of application, capsule endoscopy accounted the largest share in terms of revenue due to the increased sophistication in endoscopy procedures is projected to propel the growth of the global capsule endoscopy market. Apart from this, patient monitoring segment is projected to upright an outstanding CAGR during the forecast period. Based on the target area, the small intestine target area accounted for the highest revenue and is expected to maintain its dominance throughout the forecast period.
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This is attributed to the significant increase in small intestinal disorders such as Crohn’s disease, celiac disease, and small bowel tumors. The major driving factor of the smart pills market has increased the difficulty in endoscopy procedures, controlled drug delivery, easy remote patient monitoring scenario across the globe, patient preference for minimally invasive procedures, and rising prevalence of colon cancer. Technological incompetence of capsule endoscopes, high costs, and fear among patients regarding swallowing a microchip are limiting the growth of the global smart pills market. Additionally, poor adaptation of technology is also the main factor that restrains the global smart pills market.
Technological advancements, such as microprocessors, micro-camera, micro-sensors, and others, are predicted to create lucrative opportunities in the future. Geographically, The Asia Pacific market commanded the largest share of thel smart pills market due to the increasing reimbursements, training in endoscopes handling, and huge corporate investments in R&D in countries is driving the growth of the global smart pills market. The key player operating in global smart pills market are Proteus Digital Health, HQ, Inc., CapsoVision, Inc., Medtronic Plc., Olympus Corporations, IntroMedic Co., Ltd, RF Co., Ltd, JINSHAN Science & Technology, Check-Cap, and Koninklijke Philips N.V.
Scope of Global Smart Pills Market:
Global Smart Pills Market, by Application:
• Capsule Endoscopy • Drug Delivery • Patient Monitoring
Global Smart Pills Market, by Target Area:
• Esophagus • Small Intestine • Large Intestine • Stomach
Global Smart Pills Market, by Disease Indication:
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• Esophageal Diseases • Small Bowel Diseases • Colon Diseases • Others
Global Smart Pills Market, by End User:
• Hospital • Diagnostic Center • Research Institute
Global Smart Pills Market, by Region:
• North America • Europe • Middle East & Africa • Asia Pacific • Latin America
The key player operating in Global Smart Pills Market:
• Proteus Digital Health • HQ, Inc. • CapsoVision, Inc. • Medtronic Plc. • Olympus Corporations • IntroMedic Co. • Ltd, RF Co. • Ltd, JINSHAN Science & Technology • Check-Cap • Koninklijke Philips N.V.
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