The global smart pills market is expected to exhibit a strong 14.2% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR).
The report presents a detailed analysis of the global smart pills market by providing readers with a comprehensive overview of the market’s historical trajectory. The leading drivers and restraints affecting the global smart pills market are assessed in detail in the report. The historical impact of these drivers and restraints is analysed in context of the current impact of these factors and projections are made for the likely impact of these drivers and restraints over the forecast period. Various components of the global smart pills market are also studied in the report and projections are made for the growth trajectory of each distinct component. The various segments and sub-segments within the global smart pills market are studied in detail in the report. The study also makes a detailed analysis of the major players operating in the global smart pills market and provides a detailed look at the various competitive strategies employed by players in the global smart pills market. Likely future conditions with respect to the competitive landscape of the market are also explained in detail in the report.
Smart pills are used to track medication adherence in patients. They can also be used to monitor the conditions inside the stomach, or to track the progression of chronic diseases. Due to their smart capabilities, these pills can transmit the information gained inside the patient directly to a monitoring device, such as a computer, smartphone app, or smartwatch. The increasing prevalence of diabetes is likely to be a major driver for the global Smart Pills Market Trends a cover the forecast period. Smart pills can provide efficient tracking of chronic diseases such as diabetes, allowing physicians to gain access to detailed data and focus on countering the disease in a more informed manner. Other lifestyle diseases such as GERD, gastric ulcers, and obesity are also likely to be important for the global Smart Pills Market over the forecast period.
Segmentation:
The global megalife pills market is segmented on the basis of application, target area, disease indication, end user, and region.
On the basis of application, the global smart pills market is segmented into capsule endoscopy, drug delivery, patient monitoring, and others. The capsule endoscopy segment has been further divided into small bowel capsule endoscopy, controllable capsule endoscopy, colon capsule endoscopy, and others. Patient monitoring has been divided into capsule pH monitoring and others.
By target area, the global smart pills market is segmented into esophagus, small intestine, large intestine, and stomach.
On the basis of disease indication, the global smart pills market is segmented into esophageal diseases, small bowel diseases, colon diseases, and others.
By end use, the global smart pills market is segmented into hospitals, diagnostic centers, and research institutes.
Competitive Analysis:
Leading players in the global smart pills market include Intromedic, Pentax Medical, Medisafe, Jinshan Science & Technology, BDD Limited, Check-Cap, RF Co. Ltd., Fujifilm Holdings Corporation, Medtronic, CapsoVision Inc., Proteus Digital Health Inc., and Olympus Corporation.
Regional Analysis:
The Americas are expected to dominate the global smart pills market over the forecast period due to the increasingly favorable reimbursement scenario and increasing government support. North America is the major regional market for smart pills, as technological development is rife in North America. The technology behind smart pills is quite complicated, requiring efforts from computing companies and healthcare industry players. This has made North America the epicenter of the smart pills market, as the presence of healthcare technology players is quite strong in the region. The high prevalence of chronic diseases in North America is also a significant factor in making this the largest regional segment of the global smart pills market.
In October 2019, eLucid announced plans to extend its smart pill monitoring services to smartwatches, allowing patients to receive reminders straight on their smartwatches. The service already includes app notifications, text messages, and phone calls.
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