There is a tremendous increase in the use of smart pills in healthcare with a wide range of applications such as capsule endoscopy, patient monitoring, and drug delivery. Also known as smart medicines, smart pills are ingestible capsules embedded with miniaturized microelectronics. These pills primarily monitor the compliance of a patient to a prescribed drug regimen. Therefore, patient monitoring has become one of the major areas of application in this market. Smart pills are also used for various disease indications such as gastrointestinal diseases, cancer and neurological disorders.
The "Global Smart Pills Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the smart pills market with detailed market segmentation by application, disease indication, end user, and geography. The report provides key statistics on the market status of the leading smart pills market players and offers key trends and opportunities in the market.
- Based on application, the market is bifurcated into capsule endoscopy, drug delivery, and patient monitoring
- Based on disease indication, the market is bifurcated into gastrointestinal diseases, neurological disorders, cancer, inherited disorders, and other disease indications
- Based on end user, the market is bifurcated into hospitals and clinics, research institutes, and home healthcare
- Increasing demand for advanced drug delivery system
- Growing minimally invasive surgical procedures
- Increasing awareness and support by the healthcare providers to use smart pills
- High cost of smart pills and lack of reimbursement in the developing regions is expected to slow down the growth of market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The smart pills market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the smart pills market in these regions.
IMPACT OF COVID-19 ON SMART PILLS MARKET
COVID-19 pandemic has served vital growth opportunities for the smart pills market due to growing research and development activities. Furthermore, the growing demand for better healthcare facilities services has increased tremendously amid the COVID-19 pandemic. Therefore, it is expected to increase the use of smart pills in the coming years. In addition, the increasing demand for a proper diagnosis for COVID-19 infection is likely to enhance the growth of smart pills in the coming future.
The report covers key developments in the smart pills market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from smart pills market are anticipated to lucrative growth opportunities in the future with the rising demand for smart pills in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Smart pills market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- CapsoVision, Inc.
- Given Imaging, Inc.
- Boston Scientific Corporation
- Proteus Digital Health
- Fujifilm Holdings Corporation
- PENTAX Medical
- Lucid Group Limited
- SYNECTICS MEDICAL LTD
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.