Global Intelligent Pills Market :Industry Analysis and Forecast (2020-2027)Posted by maximizenetworkid on December 28th, 2020 Global Intelligent Pills Market is estimated to reach US$ 750 Mn. by 2027, growing at a CAGR of 12.1 % and was worth US$ 285 Mn. in 2019.
A smart pill is an ingestible medical device mainly available in a capsule sized vitamin pill and which in combination with a small electronic embedded product or appliances and drugs in it, such as patches, trackers, camera or sensors, sends wireless information about patients health parameters that help in monitoring and better diagnosis. Which, once swallowed, gets activated and offer non-invasive examination. Besides, smart pills have revolutionized the gastrointestinal diagnosis procedure and are likely to replace conventional diagnostic technique to give a potent alternative approach such as gastrointestinal endoscopy Market Dynamics: The report comprises of various segments as well an analysis of the trends and factors that are playing a substantial role in the market. These factors involve the drivers, restraints, opportunities and challenges for the key companies and stakeholders in the industry. The increasing need for minimally invasive devices, accurate therapeutic treatment strategies with increasing medication adherence, led to increasing demands for non-invasive diagnostic smart pills procedures, because of the fewer side-effects, ease of operation, better diagnostics of life-threatening medical conditions and various investment by many manufactures in R&D promotes improved drug portfolio. According to the report analysis, increasing medication and preference over conventional diagnostic devices for convenient and the small bowel diseases diagnosis will contribute to increasing demand for non-invasive drug therapy and smart pills which in turn will lead to market growth. However, certain barriers such as high cost related with the ingestible sensors and stringent regulations concerning the increased use of technical devices, lack of knowledge and fear among patients about swallowing a microchip are few many factors estimated to restrain the market growth. Opportunities: Moreover, the increase in technological advances relating to smart pills such as micro-cameras, availability of microprocessors, bioelectronics, miniaturization, and others are expected to offer beneficial opportunities in future. Global Intelligent Pills Market: Market Segmentation: The report covers competitive analysis of the Intelligent Pills Market in each of the geographical segments thereby providing insight into a market share at the macro as well as micro levels. On the basis of application, capsule endoscopy segment is estimated to have more than half of total market share because of the innovation in technology advancement and growing acceptance of smart pills for GI disease diagnosis and treatment, such as small bowel disease diagnosis in intestine and colon cancer in which would register the highest CAGR of 13.6% because of the esophageal diseases and others research analysis and increasing occurrences of colon cancer. In terms of End- User, hospital pharmacy is accounted to have more than half of total market share and is expected to continue its dominance over the forecast with the highest CAGR of 12.6% from 2019 to 2027, because of the increasing acceptance of capsule endoscopes in GI tract disorders diagnosis rate with increasing hospitalization using less time-consuming protocols, improved efficiencies with cost-efficient procedure and patient compliance. Global Intelligent Pills Market: Regional analysis North America’s Intelligent Pills Market was valued at US$ 995 Mn in 2019 and is expected to reach a value of US$ 2215 Mn by 2027, with a CAGR of 17.2%. North America is the largest market and accounted to dominate nearly half of the market with 57.1% share of which U.S, Canada contributes for major market because of the rapid acceptance of new endoscopic technologies, approvals by FDA, technological advancements, positive reimbursement scenario and increasing funding on investments by government and other companies in R&D for clinical trial as to potential growth also increasing cases of collateral cancer and for smart pills are many factors that will propel the market growth. However, Asia-Pacific excluding japan registers the highest CAGR of 14% because of the high incidences to GI disorders and large investment for R&D by major agencies and government support and health insurance All these factors are responsible deliver the growth. Competitive Analysis:Global Intelligent Pills Market: These market players in the Intelligent Pills Market have implemented various strategies such as partnerships, joint ventures, collaborations, expansions, new product launches and other crucial aspects to lessen the competition in the competitive landscape Technavio is a leading global research company of North America in the U.S with US$ 212.97 million in smart pills during 2019-2027. Followed by Major manufacturers covered in the smart pills market are Chongqing Jinshan Science & Technology (Group) Co. Ltd., CapsoVision Inc., Intromedic Co. Ltd., Medtronic Plc, Olympus Corp., and Otsuka Holdings Co. Ltd. Global Intelligent Pills Market, By Application • Capsule Endoscopy • Esophagus • Occult GI Bleeding • Hospital Pharmacy • North America • Medtronic, Inc. Global Intelligent Pills Market Visit Full Report below links :https://www.maximizemarketresearch.com/market-report/global-intelligent-pills-market/54314/ About Us: Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors. Contact info: Like it? Share it! More by this author |
