The global Smart Pills Market is expected to reach USD
3.0 billion by 2025 at a CAGR of 15.5% during the forecast period, according to
a new report by Grand View Research, Inc. Increase in prevalence of diseases
such as colorectal cancer and gastrointestinal disorders, expansion in
geographical reach of major players, rising cancer screening awareness
programs, and expeditious FDA approvals are prime factors that are expected to
drive market growth over the forecast period.
Smart pills have transformed the landscape of small
bowel, colon, and gastrointestinal endoscopy by providing a non-invasive and
accurate method for visualizing distal duodenum, jejunum, small bowel,
colon, gastrointestinal, and ileum. Smart pills are mostly used for screening
and treatment of diseases such as colorectal cancer, gastroparesis, gastric
ulcers, and gastroesophageal disorders.
Consumers of smart pills mostly include geriatric
population, immobile patients, and patients with paralysis. Considering the
steady rise in geriatric population around the globe, the demand for advanced
medical devices will also increase as they offer a degree of convenience to
patients.
Established players in this market are enhancing their
portfolio by upgrading existing devices. On the other hand, new players are
focused on capturing emerging economies with breakthrough products that are
both advanced and affordable.
Further key findings from the report
suggest:
- Capsule endoscopy is the largest application segment
owing to factors such as growth in cancer screening awareness programs,
increase in incidence of Crohn’s disease and bowel cancer, and increase in
demand for minimally invasive procedures
- North America is the dominant region with the
largest revenue share. Wide availability of products, favorable
reimbursement policies, increase in government investments in healthcare,
and an overall rise in healthcare expenditure support market growth
- Asia Pacific is expected to witness the fastest
growth over the forecast period. Factors such as increase in disposable
income, mandatory healthcare insurance, and rise in healthcare expenditure
are expected to drive the market
- Commercially available smart pills include PillCam
Capsule, ABILIFY MYCITE, CapsoCam, and Olympus Endocapsule
- Key players in the smart pills market include
Medtronic, Olympus Corporation, Proteus digital Health, MediSafe, and
CapsoVision
About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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