DUBLIN–(BUSINESS WIRE)–The “Smart Pills Technology Market By Application, By Target Area, By Disease Indication, By End User: Global Opportunity Analysis and Industry Forecast, 2020-2030” report has been added to ResearchAndMarkets.com’s offering.
The Smart Pill Technology Market size was valued at $3.2 billion in 2020 and is estimated to reach $7.5 billion by 2030, growing at a CAGR of 8.8% from 2021 to 2030.
Smart pills are capsule-sized ingestible medical devices consisting of elements such as sensors, cameras, patches, and trackers that help in better diagnostics, patient monitoring, as well as targeted drug delivery. They are majorly available in the form of vitamin capsule-sized pills and possess a small wearable sensor patch, an application on a mobile device, and a provider portal.
Once swallowed, it gets activated in the gut; the sensors provide information about the patient’s health parameters and the effectiveness of medication treatment leading to more informed healthcare decisions and optimized therapies. Moreover, smart pills have revolutionized the field of gastrointestinal diagnosis. These pills are non-invasive, and hence the user can be a potent alternative approach against invasive procedures such as gastrointestinal endoscopy/colonoscopy.
A considerable increase in the geriatric population, rise in chronic disorders such as cancer, diabetes, and others, and surge in prevalence of lifestyle-related disorders, such as obesity, gastroesophageal reflux disease (GERD), gastric ulcers, and others majorly drive the growth of the smart pills market. In addition, increased R&D investments in developing smart pills further boost the market growth. However, stringent government regulations regarding the increased use of these devices and the high cost associated with the ingestible sensors are the factors anticipated to restrain the growth of the market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the smart pills technology market analysis from 2020 to 2030 to identify the prevailing smart pills technology market opportunities.
- The Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the smart pills technology market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global smart pills technology market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
- Capsule Endoscopy
- Drug Delivery
- Patient Monitoring
By Target Area
- Small Intestine
- Large Intestine
By Disease Indication
- Barrett’S Esophagus
- Small Bowel Diseases
- Colon Cancer
By End User
- Hospitals and Clinics
- Diagnostic Centres
- Research Centres
- North America
- Rest of Europe
- South Korea
- Rest Of Asia Pacific
- South Africa
- Saudi Arabia
- Rest of LAMEA
Key Market Players
- RF Co., Ltd
- JINSHAN Science and Technology
- Proteus Digital Health
- HQ, Inc.
- CapsoVision, Inc.
- Medtronic Plc.
- Olympus Corporations
- IntroMedic Co., Ltd
- Check Cap
- Koninklijke Philips N.V
For more information about this report visit https://www.researchandmarkets.com/r/uablki
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900