Capsule Endoscopy Segment to Grow at Faster CAGR During 2022–2028
According to our new research study on “Smart Pills Market Forecast To 2028 - Global Analysis by Application, Disease Indication, End User, and Geography,” the smart pills market size is expected to reach US$ 9,061.29 million by 2028 from US$ 4,019.30 million in 2021; it is estimated to grow at a CAGR of 12.3% from 2022 to 2028. The report highlights trends prevailing in the market and the factors driving and hindering the smart pills market growth. The growth of the global smart pills market is attributed to the rising demand for minimally invasive surgical procedures and the increase in strategic collaborations & partnerships on smart pills. However, the high cost of smart pills is the major factor hindering smart pills market growth.
Based on application, the global smart pills market is segmented into capsule endoscopy, drug delivery, and patient monitoring. The capsule endoscopy segment held the largest market share in 2021. However, the drug delivery segment is estimated to register the highest CAGR during the forecast period. Capsule endoscopy is a treatment that involves taking photographs of the digestive tract with a small wireless camera. A capsule endoscopy camera is contained within a vitamin-sized capsule that is swallowed. The camera collects thousands of photographs through the digestive tract and transmits them to a recorder that the patient wears on a belt around the waist. Capsule endoscopy is frequently used to allow doctors to examine the small intestine, which is difficult to access with standard endoscopy. The most common reason for capsule endoscopy is to look for a cause of small intestine hemorrhage. Polyps, inflammatory bowel illness (Crohn's disease), ulcers, and small intestinal cancers can be detected with it. Capsule endoscopy is a safe procedure and carries very few risks. CRE Fixed and Wire guided Balloon Dilators offered by Boston Scientific provide consistent performance for Balloon Endoscopy with optimal control, efficiency, and technology. Therefore, due to above-mentioned factors, capsule endoscopy is likely to experience growth in the smart pills market during the forecast period.
Smart Pills Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Application (Capsule Endoscopy, Drug Delivery, and Patient Monitoring), Disease Indication (Gastrointestinal Diseases, Neurological Disorders, Cancer, Inherited Disorders, and Other Disease Indications), and End User (Hospitals and Clinics, Research Institutes, and Home Healthcare)
Smart Pills Market Growth Report - Industry Overview 2028
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CapsoVision, Inc.; Medtronic; Check-Cap; PENTAX Medical; Olympus Corporation; BodyCap; Otsuka America Pharmaceutical, Inc.; IntroMedic Co., Ltd; Jinshan Science & Technology.; and RF Co., Ltd are among the leading companies operating in the global smart pills market.
The report segments the smart pills market as follows:
Based on the application, the smart pills market is segmented into capsule endoscopy, drug delivery, and patient monitoring. Based on disease indication, the smart pills market is segmented into gastrointestinal diseases, neurological disorders, cancer, inherited disorders, and other disease indications. Based on end user, the smart pills market is segmented into hospitals and clinics, research institutes, and home healthcare. Based on geography, the smart pills market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
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