Smart Pills Industry Top Key Players Growth Analysis and Trend Overview

Posted by Rohit Kamble on November 27th, 2019

Smart Pills Industry Scenario

Smart pills are ingestible medical devices which are capsule sized and cave applications in diagnosis, treatments and drug delivery. Market Research Future's findings during a study of the global Smart Pills Industry imply the growth of the market at a highly promising CAGR of 14.2% during the forecast period from 2018 to 2023. At this growth rate, the market is on track to achieve a value of USD 1,800 Mn by the end of 2023.

Government restrictions and difficulty getting approval for various medical devices is expected to impede market growth. The stringency of approval by regulatory authorities is accompanied by the high cost of smart pills to challenge the growth of the Smart Pills Industry. However, the demand for speedy diagnosis, and improving reimbursement policies are likely to reveal market opportunities.

Smart Pills Industry Key Players

Some of the key players in the global Smart Pills Industry are Olympus Corporation, Proteus Digital Health, Inc., CapsoVision, Inc., MEDTRONIC, FUJIFILM Holdings Corporation, RF Co., Ltd., Check-Cap, BDD Limited, JINSHAN Science & Technology, MEDISAFE, PENTAX Medical, and INTROMEDIC.

Smart Pills Industry Segmentation

Segmental analysis of the key components of the global Smart Pills Industry has been performed based on application, target area, disease indication, end-user, and region. Applications of smart pills are found in capsule endoscopy, drug delivery, patient monitoring, and others. Sub-division of the capsule endoscopy segment includes small bowel capsule endoscopy, controllable capsule endoscopy, colon capsule endoscopy, and others. Meanwhile, the patient monitoring segment is further divided into capsule pH monitoring and others.

Target area of smart pills is primarily segmented into the small intestine, large intestine, stomach, and esophagus.

Diseases indication which requires the use of smart pills includes esophageal diseases, small bowel diseases, colon diseases, and others.

End-users of smart pills includes hospitals, diagnostic centers, and research institutes.

Segmentation by geography includes key regions such as the Asia Pacific, the Middle East & Africa, the Americas, and Europe.

Smart Pills Industry Regional Analysis

The leadership position in the market is held by the Americas. The region has favorable reimbursement policies and a high rate of incidence for chronic and lifestyle diseases which has impacted the market significantly. Moreover, the region's developed economies have a strong affinity toward the adoption of highly advanced technology. This falls in line with these countries well-develop healthcare sectors.

The European market is another notable region which has a high number of lifestyle-related diseases related to the gastrointestinal system. Rising healthcare expenditure and a focus on R&D for the advancement of medical technology is expected to encourage market growth.

Meanwhile, the APAC has been identified as the fastest growing regional market. The regions massive population size of which a significant share belongs to the geriatric demographic is expected to impact growth. Moreover, the region is undergoing healthcare reforms and is increasingly adopting advanced medical technology. Growth opportunities in this regional market are high.

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Research Methodology

MRFR leverages its in-house expertise for drawing insightful conclusions into the market. Extensive primary and secondary research are undertaken which include SEC filings, interviews with stakeholders across the value chain, whitepaper references, etc. for backing the research findings. Top-down and bottom-up approaches employed validate the authenticity of the statistical observations available in the report. Furthermore, a multi-layer verification process is applied for eliminating deviations and discrepancies.

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Rohit Kamble

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Rohit Kamble
Joined: February 25th, 2019
Articles Posted: 194

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