Bharat Book Bureau provides Market Research Market Report on “Smart Pills Market by Application, Target Area, End User, Region – Global Forecast to 2028”UNDER Life Sciences Market Research Report Category. The report offers a collection of superior market research, market analysis, competitive intelligence and market reports. global The smart pill market is projected to reach USD 1.1 billion by 2028 from USD 0.6 billion in 2023, at a CAGR of 11.8% during the forecast period. The growth in this market is mainly driven by increasing demand for non-invasive diagnostic monitoring devices, technological advancements in capsule endoscopy and significant advancements in capsule endoscopy technology.
Growing demand for advanced drug delivery systems and the need for a rapid drug development process are expected to provide opportunities for market players during the forecast period. On the other hand, the technological incapacity of smart pills under certain conditions is expected to restrain the market growth to some extent in the coming years “The vital signs monitoring segment is projected to grow at the highest CAGR during the forecast period.” Based on application, the market for smart pills is segmented into targeted drug delivery, capsule endoscopy, and vital signs monitoring. The vital signs monitoring segments are projected to grow at the highest CAGR during the forecast period. This is due to the increasing need for accurate and precise measurement of internal body temperature and insufficient integration with digital health systems in conventional vital signs monitoring devices. As healthcare systems strive for comprehensive patient interoperability and records, the growing need for vital sign monitoring devices that seamlessly integrate with digital health systems becomes essential. The increasing demand for efficient integration is expected to increase the adoption of smart pills due to advanced connectivity and compatibility with digital health systems. “The colon target area accounted for the second largest market share during the forecast period. Based on the target area, the smart pill market is broadly segmented into, small intestine, colon, esophagus, and stomach. The target area of the large intestine occupies the second largest position in 2022 and this is attributed to the increasing cases of colorectal cancer and the need for effective screening, diagnosis and monitoring of inflammatory bowel diseases and other gastrointestinal disorders. Rising cases of colorectal cancer have contributed to the growing adoption of smart colon pills since smart pills can reach areas of the colon that can be challenging to visualize with traditional methods. Diagnostic Centers Segment to Account for Second Largest Market Share in 2022 Based on end-users, the smart pill market is broadly segmented into diagnostic centers, hospitals, and other end-users. Diagnostic centers are the second largest users in the smart pill market. This can be attributed to advances in technology, demand for non-invasive diagnostics and improved diagnostic accuracy. The integration of smart pills into diagnostic centers has been a key factor in driving usage by providing enhanced diagnostic capabilities, improved patient experience, improved operational efficiency and the ability to facilitate remote diagnostics. Europe accounts for the second largest share of the smart pill market in 2022 In 2022, Europe accounted for the second largest share of the smart pill market. This may be attributed to factors such as an increasing aging population and increased use of capsule endoscopy for gastrointestinal bleeding. The adoption of capsule endoscopy by the European Society of Gastrointestinal Endoscopy (ESGE) guidelines provides a standardized approach for healthcare professionals, increasing the quality of care provided to patients. As a result, there is a growing demand for smart pills and related technologies, driven by the increased use of capsule endoscopy for gastrointestinal bleeding.
Profile Breakdown of Smart Pills Market Key Players:
• By company type: Level 1- 60%, Level 2- 30%, and Level 3- 10% • By designation: C-level executives- 50%, Directors- 40% and others- 10%. •By region: North America- 45%, Europe- 35%, Asia Pacific- 15%, and Rest of the World- 5%.
Key Players in the Smart Pills Market
Key players operating in the smart pill market include RF Co., Ltd (Japan), etectrx (US), Olympus Corporation (Japan), BodyCap (France), Chongqing Jinshan Science Technology (Group) Co., Ltd (China), Check-Cap Ltd. (Israel), CapsoVision, Inc. (USA), ANX Robotica Corp. (USA), Medtronic plc (USA), IntroMedic (South Korea), Shenzen Jifu Medical Technology Co., Ltd (China) and Otsuka America Pharmaceutical, Inc. (USA).
The report analyzes the Smart Pills market and aims to estimate the market size and future growth potential of this market based on various segments such as application, target area, and end user. The report also includes a product portfolio matrix of various smart tablet products available in the market. The report also provides a competitive analysis of the leading players in this market, along with their company profiles, service offerings, and key market strategies.
Reasons to buy the report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them gain a larger market share. Firms purchasing the report may use one or any combination of the strategies mentioned below to strengthen their market position.
This report provides insight into the following points:
•Market penetration: Comprehensive information on the product portfolios offered by the leading players in the global smart pill market. The report analyzes this market by applications, target area, and end user. •Service Enhancement/Innovation: Detailed Insights into Future Trends in the Global Smart Pills Market •Market Development: Comprehensive information on profitable emerging markets by applications, target area and end user. •Market diversification: Comprehensive information about new services or service enhancements, growing geographies, recent developments and investments in the global smart pill market. •Competitive assessment: In-depth assessment of the market shares, growth strategies, product offerings, company valuation framework, and capabilities of the key players in the global smart pill market.
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