Smart Pills Technology Market Expected to Reach $6,321.6 million by 2030| Business Intelligence Insights (BII)

Publisher Name : Business Intelligence Insights (BII) Publish Date : 2022-06-18  

     

As per Business Intelligence Insights (BII) study, the global  Smart Pills Technology Market attained revenue growth of USD 3,291.5 million in 2021 and it is projected to reach around USD 6,321.6 million by 2030, growing at an 8.5% CAGR.

The Smart Pill Technology Market trends include an increase in the geriatric population, an increase in chronic diseases such as cancer and diabetes, and an increase in the prevalence of lifestyle-related disorders such as obesity, and gastroesophageal reflux disease (GERD), stomach ulcers, and others. Smart pills are ingestible capsule-sized medical devices that contain elements such as sensors, cameras, patches, and trackers to aid in better diagnostics, patient monitoring, and targeted drug delivery. They are mostly available as vitamin capsule-sized tablets and contain a tiny wearable sensor patch, a mobile device application, and a provider portal. It is triggered in the gut after being ingested; the sensors offer information on the patient's health parameters and the success of drug therapy, resulting in more informed healthcare decisions and optimized remedies.

The growing preference of patients for minimally invasive surgeries is fuelling the expansion of the smart pill market. Smart pills have emerged as a game-changing technical innovation, bridging the digital-healthcare divide. The introduction of these healthcare-related technological equipment has made it possible to meet the growing demand for improved monitoring and diagnostics. The appropriate reimbursement coverage in nominated nations is likely to drive the growth of the smart pills market over the forecast period. Furthermore, technical advancements in capsule endoscopes are expected to drive the growth of the smart pills market. Furthermore, the rise in colon cancer rates is expected to dampen the growth of the smart pill industry. Moreover, the requirement for rapid drug development would give further chances for the growth of the smart pills market in the future years.

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Smart Pills Technology Market: Companies Mentioned

•  RF Co., Ltd
•  JINSHAN Science and Technology
•  Proteus Digital Health
•  HQ Inc.
•  CapoVision Inc.
•  Medtronic Plc.
•  Olympus Corporations
•  IntroMedic Co., Ltd
•  Check Cap
•  Koninklijke Philips N.V

Key Highlights of the Report

•  The most revenue was created by capsule endoscopy in the forecast period, and this dominance is likely to continue throughout the forecast period. This is due to an increase in the prevalence of gastrointestinal problems such as gastroesophageal reflux disease (GERD), irritable bowel syndrome (IBS), ulcers, and others. However, the patient monitoring sector is predicted to develop at the fastest rate during the forecast period, owing to increased awareness about the problems associated with medication non-adherence, which are the primary reasons driving the Smart Pill Technology Market growth in the coming years.

•  Hospitals & Clinics generated the most revenue in the forecast period, and this dominance is likely to continue throughout the forecast period. The increase in the number of colon cancer patients is also expected to give a Smart Pill Technology Market opportunity. With the evolution of wireless devices and microscopic cameras, terms such as "embeddable" and "wearables" are becoming increasingly widespread, allowing users to identify diseases and health concerns or problems earlier and more easily.

•  North America dominated the Smart Pill Technology Market in the forecast period and is predicted to do so again due to factors such as technical improvements in the healthcare sector, a rise in the prevalence of colorectal cancer, and regulatory clearance of new products. Furthermore, the rising incidence of colorectal cancer and regulatory clearance of innovative products will drive the growth of the region's smart pills market during the projection period. Several regional authorities, including the US FDA, have been developing procedures for obtaining authorization for digital smart pills. Such measures are likely to drive the regional growth over the estimated time frame.

•  The report contains qualitative and quantitative research on the global Smart Pills Technology Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards. 

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Revenue-generating Segment Highlights

By Application 
•  Capsule Endoscopy 
•  Drug Delivery 
•  Patient Monitoring

By Target Area 
•  Esophagus 
•  Stomach 
•  Small Intestine 
•  Large Intestine

By Disease Indication
•  Barrett'S Esophagus 
•  Small Bowel Diseases 
•  Colon Cancer 
•  Others

By End User
•  Hospitals and Clinics 
•  Diagnostic Centres 
•  Research Centres

By Region
•  North America
o  U.S.
o  Canada
•  Europe 
o  Germany
o  U.K.
o  France
o  Italy
o  Spain
o  Rest of Europe
•  Asia Pacific 
o  China
o  India
o  Japan
o  Rest of Asia Pacific
•  Latin America 
o  Brazil
o  Mexico
o  Rest of Latin America
•  Middle East and Africa 
o  UAE
o  South Africa
o  Rest of Middle East and Africa (MEA)

Ready to generate outstanding revenue opportunities with Business Intelligence Insights (BII)’ exclusive Smart Pills Technology market study. Highlights of the overall market will be included in the research, as well as frequently asked questions such as –

•  What are the historical and projected revenue figures, as well as the CAGR, for the forecast period?
•  What is the current trend taking place in the market space?
•  What are the business techniques that will influence competitive scenarios as well as the market's growth potential?
•  What market drivers, restraints, and challenges are influencing market demand and growth?
•  In the approaching years, which regions and segments will generate significant revenue and emerge as industry leaders?

The Smart Pills Technology Market report's competitive scenario examines, assesses, and positions firms based on a variety of performance characteristics. The financial performance of organizations over the last few years, growth plans, product innovations, new product launches, investments, market share growth, and so on are some of the elements analysed in this research. Don't wait any longer; take a comprehensive approach and achieve your business objectives with our Smart Pills Technology Market Forecast Report 2022- 2030 – Order Now!

About Us

Business Intelligence Insights is the global provider of market intelligence, consultancy services, and syndicated & customized reports. We are focused on assisting business leaders and suppliers in making decisions by providing timely and insightful market research and consulting services. We offer global, and regional expertise in technology, industry, opportunities, trends, industry analysis, market data, and strategic guidance. Our analysis and insight help business professionals, executives, and investors make fact-based technology decisions and achieve their key business objectives. Our reports are featured distinct research approaches, rigorous methodologies, and comprehensive sector coverage.

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