Smart Pills Market Share, Top Leading Players with Strategies and Forecast 2030
Market Insights
The
emergence of advanced medical technology has resulted in several innovations
such as smart pills. Smart pills are ingestible medical devices which are
capsule sized and cave applications in diagnosis, treatments and drug delivery.
Market Research Future's findings during a study of the Smart Pills
Market is projected to reach USD 1,569.69 Million by 2030 at 15.90% CAGR during
the forecast period 2022-2030.
Smart pills
have huge potential and several important applications, particularly in
diagnosis. Smart pills are growing as a highly effective method of endoscopy,
particularly for gastrointestinal diseases. Urbanization and rapid lifestyle
changes leaning toward unhealthy diets and poor eating habits have led to
distinctive increasing lifestyle disorders such as gastroesophageal reflux
disease (GERD), obesity, and gastric ulcers. Increasing incidences of chronic
diseases such as diabetes and cancer are also impacting positive growth for the
global smart pills market. The above-mentioned factors have increased the need
for on-site diagnosis, which can be achieved by smart pills. Moreover, the
expanding geriatric population and the resulting increasing in degenerative
diseases has increased demand for smart pills.
Government
restrictions and difficulty getting approval for various medical devices is
expected to impede market growth. The stringency of approval by regulatory
authorities is accompanied by the high cost of smart pills to challenge the
growth of the Smart Pills Market Share. However, the demand for speedy
diagnosis, and improving reimbursement policies are likely to reveal market
opportunities.
Market Segmentation
Segmental
analysis of the key components of the global Smart Pills Market Trends has been performed based on
application, target area, disease indication, end-user, and region.
Applications of smart pills are found in capsule endoscopy, drug delivery,
patient monitoring, and others. Sub-division of the capsule endoscopy segment
includes small bowel capsule endoscopy, controllable capsule endoscopy, colon
capsule endoscopy, and others. Meanwhile, the patient monitoring segment is
further divided into capsule pH monitoring and others.
Target area
of smart pills is primarily segmented into the small intestine, large
intestine, stomach, and esophagus.
Diseases
indication which requires the use of smart pills includes esophageal diseases,
small bowel diseases, colon diseases, and others.
End-users
of smart pills includes hospitals, diagnostic centers, and research institutes.
Segmentation
by geography includes key regions such as the Asia Pacific, the Middle East
& Africa, the Americas, and Europe.
Regional Analysis
The
leadership position in the Smart Pills Market Outlook is held by the Americas.
The region has favorable reimbursement policies and a high rate of incidence
for chronic and lifestyle diseases which has impacted the market significantly.
Moreover, the region's developed economies have a strong affinity toward the
adoption of highly advanced technology. This falls in line with these countries
well-develop healthcare sectors.
The
European market is another notable region which has a high number of
lifestyle-related diseases related to the gastrointestinal system. Rising
healthcare expenditure and a focus on R&D for the advancement of medical
technology is expected to encourage market growth.
Meanwhile,
the APAC has been identified as the fastest growing regional market. The
regions massive population size of which a significant share belongs to the
geriatric demographic is expected to impact growth. Moreover, the region is
undergoing healthcare reforms and is increasingly adopting advanced medical
technology. Growth opportunities in this regional market are high.
Key Players
Competitors
of importance in the Smart Pills Market Players have been recorded and analyzed
in MRFR's report. These market players include RF Co., Ltd., CapsoVision,
Inc., JINSHAN Science & Technology, BDD Limited, MEDTRONIC, Check-Cap,
PENTAX Medical, INTROMEDIC, Olympus Corporation, FUJIFILM Holdings Corporation,
MEDISAFE, and Proteus Digital Health, Inc.
Related Report-
Contrast
Media Market Research Report- Forecast to 2027
Global
Medical Robotics Market Research Report- Forecast To 2027
About US:
Market Research Future (MRFR) enable customers to unravel
the complexity of various industries through Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
Contact us:
Market Research Future (part of Wantstats Research and Media
Private Limited),
99 Hudson Street,5Th Floor, New York,
New York 10013
Comments
Post a Comment