IMARC Group, a leading market research company, has recently released a report titled “Smart Pills Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global smart pills market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Smart Pills Market?
The global smart pills market size reached US$ 4.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.7 Billion by 2028, exhibiting a growth rate (CAGR) of 7.5% during 2023-2028.
What are Smart Pills?
Smart pills refer to the ingestible medical devices that comprise of sensors, cameras, trackers, patches, etc. They are utilized to record various physiological metrics and processes in the body. Smart pills aid in providing improved and accurate therapy, diagnostics, monitoring, etc., while eliminating the need for invasive procedures. At present, several manufacturers are introducing innovative product variants with advanced batteries and onboard memory. Smart pills also assist in remote patient monitoring and telemedicine. Additionally, they offer wireless transmission of information in real-time and precise measurement of the effects of the medication.
Request for a PDF sample report: https://www.imarcgroup.com/smart-pills-market/requestsample
What are the Growth Prospects and Trends in the Smart Pills Industry?
The escalating prevalence of cancer and malignant gastrointestinal (GI) disorders is shifting the consumer preferences from conventional diagnostic techniques, such as endoscopy, which is primarily driving the smart pills market. In line with this, the increasing adoption of smart pills for providing multidimensional pictures of the body's internal parts non-invasively, over endoscopy devices which come with high risks of infection transmission and esophageal tearing, is further catalyzing the market growth. Moreover, the expanding pediatric population, who are relatively more vulnerable to targeted diseases, is acting as another significant growth-inducing factor. Besides this, the rising demand for minimally invasive surgeries (MIS) to diagnose and treat chronic diseases is also augmenting the global market. Furthermore, the elevating utilization of smart pills in the defense sector to monitor the core body temperatures of soldiers in real-time is positively influencing the product demand. This, in turn, is anticipated to fuel the smart pills market over the forecasted period.
Who are the Key Players Operating in the Smart Pills Market?
- CapsoVision Inc.
- Check-Cap Ltd.
- General Electric Company
- IntroMedic Co. Ltd.
- Jinshan Science & Technology (Group) Co. Ltd.
- Koninklijke Philips N.V.
- Medtronic plc
- Olympus Corporation
- PENTAX Medical (Hoya Corporation).
What is Included in Market Segmentation?
The report has categorized the market based on target area, disease indication, application, and end user.
Breakup by Target Area:
- Esophagus
- Small Intestine
- Large Intestine
- Stomach
Analysed by Disease Indication:
- Esophageal Diseases
- Small Bowel Diseases
- Colon Diseases
- Others
Based on Application:
- Capsule Endoscopy
- Drug Delivery
- Patient Monitoring
Breakup by End User:
- Hospitals
- Diagnostic Centers
- Research Institutes
Regional Analysis:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Email: sales@imarcgroup.com
Follow us on Twitter: @imarcglobal
LinkedIn: https://www.linkedin.com/company/imarc-group/mycompany/
