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Report [2019-2026], Smart Pills Market Size, Share, Growth, Trends, Competitive Analysis, Revenue, Driving Factors and Forecast

Key Companies Covered in the Smart Pills Market Research Report Are Proteus Digital Health, Medtronic, CapsoVision, Inc., Olympus Corporation, Otsuka Pharmaceutical Co., Ltd., MEDISAFE and other key market players.

/EIN News/ -- Pune, India, Nov. 17, 2020 (GLOBE NEWSWIRE) -- The global smart pills market size is set to gain traction from the increasing usage of these non-invasive devices for the diagnosis of gastrointestinal disorders and cancer. They can ever replace the traditional diagnostic techniques such as endoscopy. The report further states that smart pills include chemical sensor, pH, or biosensor. When swallowed, they can travel along the gastrointestinal tract for capturing images.  North America is likely to remain in the dominant position throughout the near future by earning the largest smart pills market share.

Smart Pills Industry Developments:

  • In January 2019, Proteus Digital Health launched its first digital cancer chemotherapy pill in the market with an aim to help oncologists track treatment effectiveness and adherence in the cancer patients.
  • In October 2018, Proteus Digital Health expanded its partnership with Otsuka Pharmaceutical in order to continue the development and commercialization of its ingestible sensor pill platform.
  • In September 2017, CapsoVision Inc., announced the U.S launch of CapsoCloud, a managing system that allowed physicians to extract data from the CapsoCam Plus smart pill eliminating the need to process capsules post-ingestion.


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High Prevalence of Gastrointestinal Reflux Diseases to Aid Growth

The rising prevalence of chronic diseases such as breast cancer and colorectal cancer worldwide is set to be a vital driver for the smart pills market growth in the coming years. Additionally, the higher occurrences of lifestyle-related disorders, namely, gastric ulcers and gastrointestinal reflux diseases (GERD) would also affect growth positively. Hence, people nowadays are shifting towards innovative treatment options.

Moreover, patients prefer minimally invasive procedures more than the conventional treatment options. This factor is expected to surge the demand for smart pills in the forthcoming years. Also, smart pills have certain beneficial properties, such as easy remote patient monitoring, targeted drug delivery, and advanced capsule endoscopy. However, they are expensive and this, in turn, may hinder growth.

The outbreak of the COVID-19 pandemic has shattered the economy worldwide. Many hospitals are exhibiting a lower number of beds for coronavirus positive patients. Until and unless a vaccine is discovered, we are unable to estimate the timeline up to when this situation would continue. Our elaborate research reports will help you in generating more revenues by choosing the correct strategy.


To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/smart-pills-market-103122


Increasing Awareness Programs about Lifestyle Related Diseases to Favor Growth in Europe

Regionally, North America is likely to remain in the dominant position throughout the near future by earning the largest smart pills market share. This growth is attributable to the presence of favorable reimbursement policies, rising usage of novel technologies, and higher cases of cancer in the region.

The American Cancer Society mentioned that in the U.S., approximately, 43,340 new cases of colorectal cancer are detected every year. This is a prominent factor that would boost growth in this region.

Europe, on the other hand, is set to exhibit a significant CAGR in the forthcoming period on account of the increasing awareness programs about lifestyle related diseases. Also, the increasing healthcare expenditure is anticipated to aid growth. Asia Pacific is likely to grow considerably backed by the major contributions of Australia, China, and Japan.


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List of key manufacturers operating in the Global Smart Pills Market:

  • Proteus Digital Health
  • Medtronic
  • CapsoVision, Inc.
  • Olympus Corporation
  • Otsuka Pharmaceutical Co., Ltd.
  • MEDISAFE
  • Other renowned companies


Smart Pills Market Segmentations:

By Application     

•              Capsule Endoscopy

•              Targeted Drug Delivery

•              Vital Sign Monitoring

By End User         

•              Hospital & Specialty Clinics

•              Diagnostic & Research Centers

By Geography      

•              North America (USA, Canada)

•              Europe (UK, Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

•              Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

•              Latin America (Brazil, Mexico, Rest of Latin America)

•              Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)


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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:

  • Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
  • Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
  • Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
  • Number of procedures and average price of procedures
  • Replacement rate and pricing of capital equipment
  • Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
  • Market & technological trends, new product developments, product pipeline.


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