As per our analysis, the size of the Smart Pills Technologies Market in the Middle East & Africa was worth USD 242 Million in 2023 and is projected to reach USD 541 Million by 2028, growing at a CAGR of 17.38% during the forecast period from 2023 to 2028.
The market for MEA smart pills technologies is primarily driven by the rising prevalence of geriatric gastrointestinal diseases, changing lifestyles, including a shift in diet patterns, and an aging population, as older people are more likely to develop gastrointestinal disorders such as ulcerative colitis and IBD. In addition, capsule endoscopy is increasingly used to treat intestinal health conditions such as small bowel tumors, Crohn's disease, and celiac disease, obscuring GI hemorrhage.
Hepatologists are increasingly using capsule endoscopy to assess and detect the severity of oesophageal varices. In addition, smart tablets are becoming increasingly popular among patients since they are less invasive and are associated with a sedentary lifestyle. The smart pill technology market is expected to grow because of increased investments in smart pill technology research and development and collaborations between research institutions and corporations.
The traditional scopes used for colonoscopy are inconvenient for the patients. The demand for smart pills has risen as a result of this. These pills are likely to replace traditional endoscopy for certain purposes, as they have changed the diagnosis of gastrointestinal illnesses. As a result of the constant improvements in the field of endoscopy and the increased demand for effective diagnosis of gastrointestinal diseases, the market is predicted to rise rapidly over the forecast period.
The market's growth pace is slowed by the high cost of installing and maintaining laboratory equipment, a lack of technology, and a lack of patient confidence. Furthermore, the likelihood of health hazards linked with a smart pill implanted in the body may impact market growth. Moreover, privacy and ethical concerns primarily affect market growth over the projection period.
The market's expansion has slowed because of the abrupt deployment of lockdown. During the pandemic, research and development of smart pills technologies were halted or postponed. In addition, the flights were prohibited by the government, and no exchange activities took place.
This research report on the Middle East & Africa Smart Pills Technologies Market has been segmented and sub-segmented into the following categories.
Geographically, the Middle East & Africa smart pills technologies market is projected to increase throughout the forecast period due to the population growth, and people becoming more aware of gastrointestinal problems, diagnoses, and treatments are anticipated to grow.
The UAE smart pills technologies market is anticipated to grow significantly due to the rising frequency of geriatric gastrointestinal diseases, favorable reimbursement scenarios, and the changing lifestyle market is seeing a positive impact. In addition, several organizations also support smart pill research and development.
The Saudi Arabia smart pills technologies market is predicted to reach decent heights due to improved patient accessibility, detailed monitoring, and non-invasiveness, and has witnessed a high rate of acceptance in recent years. In 2014, capsule endoscopy was expected to generate the most income. The PillCam SB was the first capsule endoscope and is currently considered a first-line tool for detecting minor intestinal disorders.
The South African smart pills technologies market is estimated to grow at a rising CAGR due to significant advancements in producing a wide range of new goods. However, in this region, the innovative pill technologies market is currently underserved and in its early stages of development.
KEY MARKET PLAYERS
Major Companies dominating the Middle East & Africa Smart Pills Technologies Market Profiled in the Report are CapsoVision, Inc., Given Imaging, Inc., Medimetrics S.A. de C.V., Olympus Corporation, Bio-Images Research Limited, Novartis, Given Imaging Ltd, Philips Healthcare, Smartpill, Inc., Medtronic, Inc., Pentax Medical Company, Siemens Healthcare, Stryker Corporation, GE Healthcare, Boston Scientific Corporation, IntroMedic Inc., Chongqing Jinshan Science & Technology Group Co. Ltd., Proteus Digital Health Inc.,
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