The global smart
pills market is expected to reach USD 3.0 billion by 2025 at a CAGR of
15.5% during the forecast period, according to a new report by Grand View
Research, Inc. Increase in prevalence of diseases such as colorectal cancer and
gastrointestinal disorders, expansion in geographical reach of major players,
rising cancer screening awareness programs, and expeditious FDA approvals are
prime factors that are expected to drive market growth over the forecast
period.
Smart pills have transformed the landscape of small
bowel, colon, and gastrointestinal endoscopy by providing a non-invasive and
accurate method for visualizing distal duodenum, jejunum, small bowel,
colon, gastrointestinal, and ileum. Smart pills are mostly used for screening
and treatment of diseases such as colorectal cancer, gastroparesis, gastric
ulcers, and gastroesophageal disorders.
Consumers of smart pills mostly include geriatric
population, immobile patients, and patients with paralysis. Considering the
steady rise in geriatric population around the globe, the demand for advanced
medical devices will also increase as they offer a degree of convenience to
patients.
Established players in this market are enhancing their
portfolio by upgrading existing devices. On the other hand, new players are
focused on capturing emerging economies with breakthrough products that are
both advanced and affordable.
Browse full research report on Smart Pills Market: https://www.grandviewresearch.com/industry-analysis/smart-pills-market
Further
key findings from the report suggest:
- Capsule endoscopy is the largest application segment owing to
factors such as growth in cancer screening awareness programs, increase in
incidence of Crohn’s disease and bowel cancer, and increase in demand for
minimally invasive procedures
- North America is the dominant region with the largest revenue
share. Wide availability of products, favorable reimbursement policies,
increase in government investments in healthcare, and an overall rise in
healthcare expenditure support market growth
- Asia Pacific is expected to witness the fastest growth over the
forecast period. Factors such as increase in disposable income, mandatory
healthcare insurance, and rise in healthcare expenditure are expected to
drive the market
- Commercially available smart pills include PillCam Capsule, ABILIFY
MYCITE, CapsoCam, and Olympus Endocapsule
- Key players in the smart pills market include Medtronic, Olympus
Corporation, Proteus digital Health, MediSafe, and CapsoVision
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/medical-devices
Grand
View Research has segmented the smart pills market on the basis of application
and region:
Application
Outlook (Revenue, USD Million, 2014 - 2025)
- Product
- Capsule
Endoscopy
- Drug
Delivery
- Tools
- Patient
Monitoring Software
Regional
Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- Japan
- Latin America
- Mexico
- Brazil
- MEA
- South Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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