Global Electronic Pill Market Research Report, By Application (Capsule Endoscopy, Drug Delivery), Target Area (Oesophagus, Stomach), Parts (Biocompatible Capsule Encasing Microsensors), End-User (Diagnostics Centers, Hospitals) – Global Forecast Till 2027
Market Highlights
The global electronic pill market is expected to reach an approximate CAGR of 15% during the forecast period.
The growing prevalence of gastrointestinal diseases, increasing unhealthy food consumption, increase in research and development activities, growing government reimbursement policies, rising geriatric population, increased need for rapid diagnostics, and adoption of advanced technologies are the key factors for the electronic pill market to grow. However, factors such as bowel obstruction, lack of awareness, capsule retention and high costs are expected to restrict the market growth during the forecast period.
Segmentation
The global Smart Pills Market has been segmented based on application, target area, part, and end user.
By application, the electronic pill market has been segmented into capsule endoscopy, drug delivery, and patient monitoring.
By target area, the electronic pill market has been segmented into oesophagus, stomach, small intestine, and large intestine.
By part, the electronic pill market has been segmented into biocompatible capsule encasing microsensors, control chip, radio transmitter and power source.
By end user, the electronic pill market has been segmented into Hospitals, diagnostic centers, clinical research organizations, and medical centers.
Regional Analysis
By region, the electronic pill market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
In 2017, the global electronic pill market was led by the Americas. The dominance of the Americas market can be attributed to the surging prevalence of gastrointestinal diseases, vigorous R&D activities and fast uptake of the latest technologies in the region.
Europe follows the Americas closely and is estimated to showcase substantial growth over the forecast period. Escalating cases of gastric cancer and high demand for diagnostics services is fuelling the growth of the market.
The APAC electronic market is likely to witness the fastest growth over the forecast period. The growth of the market can be attributed to increasing patient population, growing medical tourism in the region, and extensive R&D activities and high investment by the governments in the region create a conducive environment for the growth of the market.
The MEA market accounts for the least share of the electronic pill market. The growth of the market might be restrained by stringent government policies and poor economic conditions.
Competitive Landscape
Medtronic, JINSHAN Science & Technology, Medimetrics (Mexico), Medisafe, CapsoVision, Inc. (US), Given Imaging Ltd. (Israel), (Bio-Images Drug Delivery) BDD LTD (UK), Proteus Digital Health (US), Olympus Corporation, and INTROMEDIC are the distinguished players in the electronic pill market.
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Industry Updates
February 2019 – a new electronic pill equipped with Wi-Fi transmitter has been developed which is capable of harvesting energy from inside a patient’s stomach and record core body temperature and then send data to an external monitor.
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