Smart Pills Market Top Leading Players with Strategies and Forecast 2027
Smart Pills Market
The global smart pills market is expected to exhibit a strong
14.2% CAGR over the forecast period from 2018 to 2023, according to the latest
research report from Market Research Future (MRFR).
The report presents a detailed analysis of the global smart pills
market by providing readers with a comprehensive overview of the market’s
historical trajectory. The leading drivers and restraints affecting the global
smart pills market are assessed in detail in the report. The historical impact
of these drivers and restraints is analyzed in context of the current impact of
these factors and projections are made for the likely impact of these drivers
and restraints over the forecast period. Various components of the global smart
pills market are also studied in the report and projections are made for the
growth trajectory of each distinct component. The various segments and
sub-segments within the global smart pills market are studied in detail in the
report. The study also makes a detailed analysis of the major players operating
in the global smart pills market and provides a detailed look at the various
competitive strategies employed by players in the global smart pills market.
Likely future conditions with respect to the competitive landscape of the
market are also explained in detail in the report.
Smart pills are used to track medication adherence in patients.
They can also be used to monitor the conditions inside the stomach, or to track
the progression of chronic diseases. Due to their smart capabilities, these
pills can transmit the information gained inside the patient directly to a
monitoring device, such as a computer, smartphone app, or smartwatch. The
increasing prevalence of diabetes is likely to be a major driver for the global
smart pills market over the forecast period. Smart pills can provide efficient
tracking of chronic diseases such as diabetes, allowing physicians to gain access
to detailed data and focus on countering the disease in a more informed manner.
Other lifestyle diseases such as GERD, gastric ulcers, and obesity are also
likely to be important for the global smart pills market’s growth
over the forecast period.
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Competitive Analysis:
Leading players in the global smart pills market include
Intromedic, Pentax Medical, Medisafe, Jinshan Science & Technology, BDD
Limited, Check-Cap, RF Co. Ltd., Fujifilm Holdings Corporation, Medtronic,
CapsoVision Inc., Proteus Digital Health Inc., and Olympus Corporation.
Segmentation:
The global smart pills market is segmented on the basis of
application, target area, disease indication, end user, and region.
On the basis of application, the global smart pills
market is segmented into capsule endoscopy, drug
delivery, patient monitoring, and others. The capsule endoscopy segment has
been further divided into small bowel capsule endoscopy, controllable capsule
endoscopy, colon capsule endoscopy, and others. Patient monitoring has been
divided into capsule pH monitoring and others.
By target area, the global smart pills market is
segmented into esophagus, small intestine, large intestine, and stomach.
On the basis of disease indication, the
global smart pills market is segmented into esophageal diseases, small bowel
diseases, colon diseases, and others.
By end use, the global smart pills market is segmented
into hospitals, diagnostic centers, and research institutes.
Regional Analysis:
The Americas are expected to dominate the global smart pills
market over the forecast period due to the increasingly favorable reimbursement
scenario and increasing government support. North America is the major regional
market for smart pills, as technological development is rife in North America.
The technology behind smart pills is quite complicated, requiring efforts from
computing companies and healthcare industry players. This has made North
America the epicenter of the smart pills market, as the presence of healthcare
technology players is quite strong in the region. The high prevalence of
chronic diseases in North America is also a significant factor in making this
the largest regional segment of the global smart pills market.
In October 2019, eLucid announced plans to extend its smart pill
monitoring services to smartwatches, allowing patients to receive reminders
straight on their smartwatches. The service already includes app notifications,
text messages, and phone calls.
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