Smart Pills Market Outlook 2025 Opportunity and Growth Analysis with Top Key Vendors
According to a new report
published by KD Market Insights, titled, Smart Pills Market by
Application, Target Area, Disease Indication, and End User: Global Opportunity
Analysis and Industry Forecast, 2017 - 2025, the global smart pills market was
valued at $257 million in 2017, and is projected to reach $650 million by 2025,
growing at a CAGR of 12.1% from 2018 to 2025. The capsule
endoscopy segment accounted for more than half of the total market share in
2017.
Smart pills are
capsule-sized ingestible medical devices that consist of micro-sensors,
micro-cameras, patches, and trackers. Smart pills by making use of these
micro-sensors and cameras help in more appropriate and non-invasive disease
diagnostics. Smart pills, being non-invasive can be a potent alternative
approach against invasive procedures such as gastrointestinal
endoscopy/colonoscopy. The product has its wide application in drug delivery
and real-time patient monitoring. It is an innovative approach to gather images
from areas of the gastrointestinal tract, such as colon, where traditional
endoscopies are unable to reach. Once swallowed, sensors provide information
about various health parameters of the patient and the effectiveness of the
medication treatment, which facilitate in taking informed healthcare decisions
and optimized therapies.
Moreover, a significant
rise in geriatric population, rise in chronic disorders such as cancer,
diabetes, and others, drive the smart pills market growth. In addition,
increased R&D investments by manufacturers in developing smart pills boosts
the market growth. However, stringent governmental regulations regarding the
vigorous use of these devices and high cost associated with the ingestible
sensors is anticipated to restrain the market growth. On the contrary, surge in
technological advances in bioelectronics, and availability of microprocessors
are anticipated to offer lucrative opportunities in the future.
The capsule endoscopy
segment generated the highest revenue in 2017 and is expected to maintain its
dominance throughout the forecast period. This is attributed to the increase in
use of capsule endoscopes for diagnosis of gastrointestinal disorders and surge
in preferences for non-invasive procedures. In addition, the capsule endoscopy
segment is expected to register the highest growth rate during the forecast
period.
Key Findings of the
Smart Pills Market Study:
- The small intestine
segment, by target area dominated the smart pills market in 2017 and is
expected to maintain this trend during the forecast period.
- The colon disease segment, by disease indication, is expected to register highest CAGR of 13.6% from 2018-2025.
- U.S. generated the highest revenue in the global smart pills market in 2017 accounting for more than half of the market in North America.
- Asia-Pacific is the fastest growing region in the smart pills market in 2017 and is anticipated to experience rapid growth during the forecast period.
- The colon disease segment, by disease indication, is expected to register highest CAGR of 13.6% from 2018-2025.
- U.S. generated the highest revenue in the global smart pills market in 2017 accounting for more than half of the market in North America.
- Asia-Pacific is the fastest growing region in the smart pills market in 2017 and is anticipated to experience rapid growth during the forecast period.
North America was the
leading revenue contributor to the global market in 2017, owing to the increase
in healthcare investments by the government, surge in R&D expenditure for
the development of smart pills, and technological advancements regarding
diagnostic procedures. Asia-Pacific is expected to witness the highest growth
rate throughout the forecast period, due to increase in healthcare facilities,
surge in disposable income, and rise in awareness towards non-invasive
diagnostic procedures.
The report provides an
extensive competitive analysis and profiles of the key market players, such as
Proteus Digital Health, HQ, Inc., CapsoVision, Inc., Medtronic Plc., Olympus
Corporations, IntroMedic Co., Ltd, RF Co., Ltd, JINSHAN Science &
Technology, Check Cap, and Koninklijke Philips N.V. The other players in the
value chain (not included in the report) include GE Healthcare, NOVARTIS AG,
Fujifilm Holdings Corporation, Bio-Images Drug Delivery (BDD) Limited, Quotient
Clinical Ltd., Innovative Devices LLC, and PENTAX Medical.
About Us:
KD Market Insights offers a comprehensive database of syndicated
research studies, customized reports, and consulting services. These reports
are created to help in making smart, instant and crucial decisions based on
extensive and in-depth quantitative information, supported by extensive
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make an informed decision, by keeping them and ourselves up to date with the
latest trends in the market.
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New York, USA 12207
Telephone: +1 (518) 300-1215
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