According to the report, the Smart Pill Technologies Market size in Europe was worth USD 948.87 Million in 2022 and is projected to reach USD 2080.35 Million by 2027, growing at a CAGR of 17.0% during the forecast period from 2022 to 2027.
The growing senior population and rising prevalence of chronic diseases such as diabetes, cancer, obesity, gastroesophageal reflux disease, gastric ulcers, and others are major factors driving the market growth. In contrast, rising demand for minimally invasive treatment with early detection of medical problems and innovation of new products such as bioelectronics, micro-cameras, miniaturization, and others will also help to boost the market growth in Europe.
Increasing R&D projects to develop effective intelligent pills will also provide attractive market prospects in the coming years. The devices are made so a layperson may read that data with ease. Most companies offer suitable software that collects data over time and provides vital information on patient health and lifestyle tips. The Bluetooth component of these intelligent pill devices allows them to be connected to smartphones. Users can access data in a statistical and user-friendly way due to this. The demand for smart pills has risen as a result of this.
Factors such as attractive reimbursement scenarios, focused medicine delivery, convenient remote patient monitoring, technical advancements in endoscopic techniques, and the rising prevalence of colon cancer are fueling the growth of this market. In addition, an increasing preference for non-invasive procedures is driving the demand for smart pills.
Market restraints include strict regulatory policies and high equipment costs, while market risks include adverse effects of treatment. Furthermore, while customizability benefits the smart pill industry, it may also be a disadvantage and a time-consuming process because it is tough to create according to unique consumer needs. Furthermore, adaptability is a challenge, and these factors can operate as a market restraint. Finally, because smart pills are expensive, they are only used in a restricted number of developing regions. As a result, one of the reasons limiting the expansion of the little pill industry is the high cost.
This research report on the Europe Smart Pill Technologies Market has been segmented and sub-segmented into the following categories.
Geographically, Europe is the second-largest market for smart pill technology globally. Superior healthcare infrastructure, increased awareness of GI disorders among patients and doctors, high adoption of technological developments, and the growing senior population is all driving market expansion in Europe.
The German smart pill technologies market and France's smart pill technologies market are expected to have significant market growth during the period due to the high rate of development and increasing government initiatives to improve healthcare infrastructure. In addition, the increasing prevalence of chronic diseases due to changing lifestyles will boost the regional market growth.
The U.K smart pill technologies market held a considerable market share which is likely to grow during the period due to the robust medical infrastructure and high diagnostic and care rates and improvements. Furthermore, by 2025, the quickly rising population and many patients suffering from long-term conditions such as cancer, diabetes, and others are predicted to force the intelligent pill market forward.
KEY MARKET PLAYERS
Top Companies leading the Europe Smart Pill Technologies Market Profiled in the Report are Given Imaging, Inc., Medimetrics S.A. de C.V, Philips Healthcare, Smartpill, Inc., Medtronic, Inc, Proteus Digital Health Inc, Olympus Corporation, Bio-Images Research Limited, Novartis, Given Imaging Ltd, Pentax Medical Company, Boston Scientific Corporation, IntroMedic Inc, CapsoVision, Inc, Chongqing Jinshan Science & Technology Group Co. Ltd, GE Healthcare, Siemens Healthcare, Stryker Corporation
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Capsule Endoscopy
184.108.40.206 Small Bowel Video Capsule Endoscopy
220.127.116.11 Colon Capsule Endoscopy
18.104.22.168 OMOM Capsule Endoscopy Platform
22.214.171.124 Upgraded MiroCam and Advanced Capsule Endoscope
126.96.36.199 The ANKON MCE System
5.1.3 Drug Delivery
5.1.4 Patient monitoring
5.1.5 Y-o-Y Growth Analysis, By Application
5.1.6 Market Attractiveness Analysis, By Application
5.1.7 Market Share Analysis, By Application
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Application
6.1.4 Market Attractiveness Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Application
6.1.5 Market Share Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Application
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 CapsoVision, Inc.
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Given Imaging, Inc.
8.3 Medimetrics S.A. de C.V.
8.4 Olympus Corporation
8.5 Bio-Images Research Limited
8.7 Given Imaging Ltd
8.8 Philips Healthcare
8.9 Smartpill, Inc.
8.10 Medtronic, Inc.
8.11 Pentax Medical Company
8.12 Siemens Healthcare
8.13 Stryker Corporation
8.14 GE Healthcare
8.15 Boston Scientific Corporation
8.16 IntroMedic Inc.
8.17 Chongqing Jinshan Science & Technology Group Co. Ltd.
8.18 Proteus Digital Health Inc.
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures
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