The Global Smart Pill Technologies Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Global Smart Pill Technologies Market is estimated to be $ 2200 million and predicted to rise to $ 4927.33 million with a CAGR of 17.5%. The market is segmented by Application (Capsule Endoscopy (Small Bowel Video Capsule Endoscopy, Colon Capsule Endoscopy, OMOM Capsule Endoscopy Platform), Drug Delivery, Patient monitoring). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The market for Smart Pill Technologies is mainly driven due to increased prevalence of gastrointestinal diseases, sedentary lifestyle and high patient compliance on account of minimally invasive techniques. The advent of novel technologies such as catheter-less pH monitoring, ingestible sensors and wireless capsule based GI monitoring would foster an accelerated market growth. But, the market growth can be restrained due to possible health risks associated with a smart pill inserted into the body, privacy issues and ethical concerns.
Capsule endoscopy segment is expected to be one of the largest markets owing to the advantages attached such as disease diagnosis in small intestine. Drug delivery market is also expected to experience growth due to the benefit of improving medication efficiencies, improving patient compliance & convenience, and fast paced technology.
North America is the biggest market in terms of market share across the globe, followed by Europe. The market in North America is highly driven due to favorable reimbursement scenario, FDA approvals for smart pills, and rising investments by government and other agencies. The Smart Pill Technologies market in the Asia-Pacific region is projected to grow at the highest CAGR, which is greatly due to increasing reimbursements, training in endoscopes handling, and huge corporate investments in R&D.
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., are the major players of Global Smart Pill Technologies market.
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