Smart Pills Market: Global Market Size, Dynamics, Regional Share, Trends, Competitor Analysis 2015 to 2020 and Forecast 2021 to 2027

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Smart Pills Market: By Application (Drug Delivery, Capsule Endoscopy, Patient Monitoring), By Target Area (Stomach, Esophagus, Large Intestine, Small Intestine), By End User (Hospitals, Clinics, Research Institutes), and Geography 

 

 

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Report

Description

global Smart Pills Market was valued at $258 million in 2020 and is expected to reach $651 million by 2027, registering a CAGR of 12.2% from 2021 to 2027. Smart pills are the injectable medical devices taken orally to examine gastrointestinal tract. The advanced smart pills enable disease diagnosis, patient monitoring, and help to improve the drug delivery. Cameras, trackers, and sensors are commonly used smart pills swallowed by patient to get complete GI evaluation without surgery. Smart pills expected to replace the conventional diagnostic techniques such as colonoscopy and endoscopy. Increase in geriatric population coupled with rise in preference for minimally invasive surgical procedures are anticipated to drive the global smart pills market. Moreover, technological advancements of the smart pills, rise in prevalence of GI disorders, sophisticated healthcare infrastructure, wide applications with smart pills, and rise in disposable income are anticipated to fuel the global market over the forecast period. However, high cost of products, technological constraints the efficiency of capsule endoscopes, and patients fear regarding the smart pill swallowing are expected to dampen the growth of the market.Capsule endoscopy, for example, was developed in response to a high demand for minimally invasive surgical treatments. Capsule endoscopy is projected to replace traditional endoscopic methods due to advantages such as ease of administration and thorough monitoring of the gastrointestinal tract. In November 2017, Otsuka America Pharmaceutical, Inc. received FDA approval for Abilify MyCite, (Aripiprazole tablets with sensor)

 


Global Smart Pills Market

MARKET SUMMARY
-
12.2%
  • Study Period– 2021-2027
  • Base Year– 2020
  • CAGR– 12.2%
  • Largest Market– North America
  • Fastest Growing Market– Europe

Smart Pills Market

  • Smart Pills market is segmented based on the application, target area, and end-user
  • Smart Pills Market gives historical, current, and future market sizes (US$ Mn) of product type and distribution channel and geographic regions.
  • This report studies market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market.
  • In addition, the market report includes regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition.
  • Moreover, PBI analyzed the market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities).
  • Key stakeholders of the market report include suppliers, manufacturers, marketers, policy makers engaged in manufacturing and supply of Infant nutrition
Market Key Players
  • Medimetrics S.A. de C.V.
  • CapsoVision, Inc.
  • Bio-Images Research Limited
  • Olympus Corporation
  • Given Imaging, Inc.
  • SmartPill Corporation
  • Siemens Healthineers
  • Medtronic plc
  • Koninklijke Philips N.V.
  • GE Healthcare
  • Otsuka America Pharmaceutical, Inc.
Growth

Smart Pills Market

The rise in the prevalence of lifestyle-related conditions such as obesity, gastroesophageal reflux disease (GERD), stomach ulcers, and others, as well as a significant increase in the senior population, all contribute to the expansion of the smart pill market. Increased R&D investments in the development of smart pills will also help the industry flourish. However, strict government rules regulating the rising usage of these devices, as well as the expensive cost of ingestible sensors, are expected to limit the market’s growth. Furthermore, improvements in smart pill technology, such as bioelectronics, microprocessors, micro-cameras, miniaturisation, and others, are expected to create lucrative prospects in the future.


North-America Got Significant Share

Smart Pills Market

Geographically, global smart pills market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America smart pills market has a lucrative share attributed to increase in the prevalence of GI disorders due to change in lifestyle, innovation of newer smart pills by market players, and favorable reimbursement policies are fuel the market. Europe smart pills market is poised to grow at a notable CAGR due to adoption of technologically advanced smart pills, rise in government investment in healthcare sector, and well established healthcare infrastructure. Asia Pacific smart pills market has a lucrative growth owing to large patient pool with GI disorders, increase in healthcare expenditure, and entry of market players into Asia Pacific region are fuel the market.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Key Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2015 to 2020) and forecast (2021 to 2027)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Smart Pills Market Segmentation


Location

GEOGRAPHY


Report

Table Of Content


Report

Company Profile

  • Medimetrics S.A. de C.V. (Mexico)
  • CapsoVision, Inc. (U.S.)
  • Bio-Images Research Limited (U.K.)
  • Olympus Corporation (Japan)
  • Given Imaging, Inc. (Israel)
  • SmartPill Corporation (U.S.)
  • Siemens Healthineers (U.S.)
  • Medtronic plc (Ireland)
  • Koninklijke Philips N.V. (Netherlands)
  • GE Healthcare (U.S.)
  • Otsuka America Pharmaceutical, Inc. (U.S.)

Description

global Smart Pills Market was valued at $258 million in 2020 and is expected to reach $651 million by 2027, registering a CAGR of 12.2% from 2021 to 2027. Smart pills are the injectable medical devices taken orally to examine gastrointestinal tract. The advanced smart pills enable disease diagnosis, patient monitoring, and help to improve the drug delivery. Cameras, trackers, and sensors are commonly used smart pills swallowed by patient to get complete GI evaluation without surgery. Smart pills expected to replace the conventional diagnostic techniques such as colonoscopy and endoscopy. Increase in geriatric population coupled with rise in preference for minimally invasive surgical procedures are anticipated to drive the global smart pills market. Moreover, technological advancements of the smart pills, rise in prevalence of GI disorders, sophisticated healthcare infrastructure, wide applications with smart pills, and rise in disposable income are anticipated to fuel the global market over the forecast period. However, high cost of products, technological constraints the efficiency of capsule endoscopes, and patients fear regarding the smart pill swallowing are expected to dampen the growth of the market.Capsule endoscopy, for example, was developed in response to a high demand for minimally invasive surgical treatments. Capsule endoscopy is projected to replace traditional endoscopic methods due to advantages such as ease of administration and thorough monitoring of the gastrointestinal tract. In November 2017, Otsuka America Pharmaceutical, Inc. received FDA approval for Abilify MyCite, (Aripiprazole tablets with sensor)

 

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