Smart Pills Market - Global Forecast and Analysis 2019-2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 2, 2019--
The “Smart Pills Market by Application and Geography - Global Forecast and Analysis 2019-2023” report has been added to ResearchAndMarkets.com’s offering.
The global smart pills market report looks at factors such as the increasing prevalence of chronic conditions, product launches and growing demand for non-invasive procedures and increasing medication adherence. However, high costs associated with smart pills procedures, stringent regulations on smart pills manufacturing and usage, and lack of skilled professionals and ethical concerns may hamper the growth of the smart pills industry over the forecast period.
The smart pills market analysis considers sales from both diagnostics and drug therapies. In 2018, the diagnostics segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as technological advancement in capsule endoscopy will play a significant role in the diagnostics segment to maintain its market position.
Global Smart Pills Market: Overview
Growing demand for non-invasive procedures and increasing medication adherence
The demands for non-invasive diagnostic procedures is increasing, owing to their ease of operation, fewer side-effects, and minimum discomfort. Smart pill endoscopy device is likely to replace conventional diagnostic technique such as endoscopy and colonoscopy. Smart pills are unique devices that can be easily swallowed and offer a non-invasive examination of the GI tract. These pills enable health monitoring of various psychological metrics and measuring of medication adherence in patients. This will lead to the expansion of the global smart pills market at a CAGR of over 10% during the forecast period.
Technological advancements in smart pills
Regular advances in technology and the emergence of digital medicine have expanded the therapeutic applications of medical devices. Smart pills are a combination of drug and device technology. A smart pill is an innovative method of drug delivery, which involves the use of sensors and cameras embedded into tiny edible devices. Such medical devices ensure better diagnostics, monitoring, and treatment of life-threatening medical conditions by allowing doctors to monitor their patients’ body functions in real-time. Thus, advances in technology, such as software up-gradation and innovative systems, and the integration of microchips with smart pills, are expected to have a positive impact on the overall market growth.
With the presence of several major players, the global smart pills market is moderately fragmented. The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading smart pills manufacturers, that include CapsoVision Inc., Chongqing Jinshan Science & Technology (Group) Co. Ltd., Intromedic Co. Ltd., Medtronic Plc, Olympus Corp., Otsuka Holdings Co. Ltd.
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY APPLICATION
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/hjyk10
View source version on businesswire.com:https://www.businesswire.com/news/home/20190902005252/en/
Laura Wood, Senior Press Manager
For E.S.T. Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
INDUSTRY KEYWORD: HEALTH OTHER TECHNOLOGY TECHNOLOGY PHARMACEUTICAL
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 09/02/2019 01:11 PM/DISC: 09/02/2019 01:11 PM