Smart Pills Market Size to surge at 11.4% CAGR by 2028

By Ashwin Naphade  | Date: November 01, 2022

Smart Pills Market Size to surge at 11.4% CAGR by 2028

Market Study Report provides a detailed overview of Smart Pills Market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

The global smart pills market is estimated to grow at a CAGR of 11.4% during the forecast period. The increasing geriatric population coupled with the growing prevalence of lifestyle-related disorders such as obesity, gastric ulcers, and gastroesophageal reflux disease (GERD) are some of the factors augmenting the global smart pills market. Further, the rise in chronic disorders such as cancer, diabetes, and others are also driving the market growth. Patients with certain lifestyle disorders are preferring minimally invasive procedures which are offering a significant opportunity for the growth of smart pills. Further, the increasing investments in R&D for the development of the smart pill will further drive the market growth.

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Market Segmentation

The global smart pills market has been analyzed on the basis of application, disease indication, target area, end user, and region. Based on application, the market is segmented into capsule endoscopy, patient monitoring, and drug delivery. The capsule endoscopy segment is gaining significant traction in the market. Based on disease indication, the market is segmented into esophageal diseases, colon diseases, digestive tract disease, small bowel tumors, and others. Among these, esophageal diseases segment is projected to contribute significantly to the market.

Based on target area, the market is further segmented into large intestine, small intestine, stomach, and esophagus. Among these, stomach segment is projected to exhibit considerable growth rate during the forecast period. Further, on the basis of end-user, the market is segmented into hospitals, diagnostics center, academic & research institutes, and others. Hospital segment is projected to hold a prominent share in the market. Geographically, the market is analyzed into North America, Western Europe, Eastern Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is estimated to exhibit a remarkable growth during the forecast period.

Market Structure and Competition Landscape

The global smart pills market is characterized by the presence of significant number of players. Some of the prominent players operating in the market include Otsuka Holding Co., Ltd., CapsoVision, Inc., GE Healthcare (General Electric Company), Boston Scientific Corporation, Medtronic PLC, RF Co. Ltd., Jinshan Science & Technology (Group) Co., Ltd., Veloce Corporation, and others. To maintain their market position, these industry players focus on various growth strategies such as partnerships, mergers and acquisitions, and product portfolio expansion. Some of the key developments in the smart pills market include:

•             In January 2021, etectRx Inc. and Pear Therapeutics Inc. entered into a partnership agreement for the development of two CNS product candidates integrating adherence sensors and PDTs (Prescription Digital Therapeutics). This is the first partnership of its kind to investigate the use of digital pill solutions with PDTs.

•             In September 2020, CapsoVision announced that the US Food and Drug Administration (FDA) would allow at-home administration of the CapsoCam Plus small bowel capsule endoscope during the COVID-19 pandemic for patients deemed eligible for at-home administration.

Some Important Points Answered in this Market Report Are Given Below:

  • Explains an overview of the product portfolio, including product development, planning, and positioning
  • Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
  • Detailed analysis of the market revenue over the forecasted period.
  • Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
  • Study on the segments that are anticipated to dominate the market.
  • Study on the regional analysis that is expected to register the highest growth over the forecast period

For more details on this report: https://www.marketstudyreport.com/reports/global-smart-pills-market-investment-growth-opportunity-analysis-2019-2028

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About Author

Ashwin Naphade     ibmag.com

Ashwin Naphade

Ashwin is into digital marketing since the last 2 years and has worked on multiple projects across various industries. He likes posting information and knowledge on multiple topics with an objective to create online visibility as well as share his inputs. His interest...

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