Smart Pills Market Size 2021
Smart pills Market are indigestible capsules which are being used in multiple healthcare applications such as medical imaging, drug delivery, cancer diagnostics, etc. Smart pills are essentially microelectronic devices that have the capability of reaching different parts of the digestive system without having any counter effects on the individual's body. Check-Cap, for instance, provides micro pills that help in the faster detection of polyps, thereby preventing the formation of cancerous cells. The rising demand for accurate diagnosis and treatment of adverse health conditions using advanced imaging systems is leading to the growth of the global Smart Pills Market Size.
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Major Key Players:
Some of the players operating in the Smart Pills Market Size are BDD Pharma Ltd, CapsoVision, Inc, Check-Cap, etectRx, HQ, Inc., Jinshan Science & Technology (Group) Co., Ltd., Medimetrics Personalized Drug Delivery B.V., Medtronic, Olympus, Veloce Digital Health, amongst others.
Key findings of the report:
In terms of revenue, the global Smart Pills Market Size was valued at US$ 3234.14 Mn in 2019 and is anticipated to grow at a CAGR of 18.50% over the forecast period.
North America accounted for the highest market share in the global Smart Pills Market Size in 2019. The greater awareness regarding the use of smart pills in countries like the U.S. and Canada, coupled with the higher investment in technological innovation in healthcare is a major reason for the greater share of North America in the global Smart Pills Market Size. However, the APAC region is expected to show the highest growth during the forecast years in the global Smart Pills Market Size.
Diagnostic imaging accounted for a considerable share in the global Smart Pills Market Size as far as the applications of smart pills are concerned. The ability of the smart pills to provide accurate imaging of the digestive tract, with a greater degree of accuracy, is leading due to the growth of smart pills for diagnostic imaging.
Acute gastrointestinal bleeding segment is expected to show considerable growth in the global Smart Pills Market Size during the forecast years. Gastrointestinal bleeding is a major concern amongst the healthcare professionals as it can lead to complications, thereby increasing the fatality rate. Studies show that the annual expenditure on gastro-related illnesses was around US$ 136 billion in the U.S. alone. Smart pills can help in the faster diagnosis of gastrointestinal illnesses, especially internal bleeding in the small intestine, thereby saving countless lives.
Market Segmentation
By Application
Diagnostic Imaging
Vital Sign Monitoring
Targeted Drug Delivery
By Area
Esophagus
Stomach
Small Intestine
Large Intestine
Others
By Disease Indication
Acute gastrointestinal bleeding
Crohn’s disease (CD)
Esophagitis and Barrett’s esophagus
Others
By End User
Hospitals
Clinics
Diagnostic Centers
Research Centers
Universities
Others
By Region
North America
U.S
Canada
Mexico
Rest of North America
Europe
France
The UK
Spain
Germany
Italy
Nordic Countries
Denmark
Finland
Iceland
Sweden
Norway
Benelux Union
Belgium
The Netherlands
Luxembourg
Rest of Europe
Asia Pacific
China
Japan
India
New Zealand
Australia
South Korea
Southeast Asia
Indonesia
Thailand
Malaysia
Singapore
Rest of Southeast Asia
Rest of Asia Pacific
Middle East and Africa
Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
.…
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