Global Smart Pills Technology Market by Technology (Capsule Endoscopy, Patient Monitoring, Drug Delivery) by Disease Indications (Occult GI Bleeding, Crohn’s Disease, Small Bowel Tumors, Celiac Disease) – Business Overview, Analysis and Industry Forecast 2017-2023

Report Overview

Global Smart Pills Technology Market was valued at USD 2.62 Billion in the year 2017. Global Smart Pills Technology Market is further estimated to grow at a CAGR of 21% from 2018 to reach USD 8.22 Billion by the year 2023. The smart pill is a wireless capsule that can be swallowed, and with the help of a receiver (worn by patients) and software that analyzes the pictures captured by the smart pill, the physician is effectively able to examine the gastrointestinal tract.

The global Smart Pills Technology Market is segmented on the basis of technology, disease indication and by region. On the basis of technology, the market is segmented Capsule Endoscopy, Patient Monitoring and Drug Delivery of which Capsule Endoscopy segment is expected to hold the highest market share during the forecast period and are expected to grow with highest CAGR. On the basis of Disease Indications, the market is segmented as Occult GI Bleeding, Crohn’s Disease, Small Bowel Tumors, Celiac Disease, Inherited Polyposis Syndromes and Others in which Occult GI Bleeding segment holds the highest market share in the forecasted period.

North America region holds the highest market share in 2017 and the Asia Pacific is considered as the fastest growing market in the forecasted period. At a country level, the U.S is the major markets in North America region and holds a substantial market share in 2017 and it is projected to grow at a gradual pace in the coming years. North America is anticipated to dominate the market during the analysis period, due to the presence of high-quality healthcare systems and modern medical technology in the country.

Drivers:

            Increasing Preference for Minimally Invasive Device.

            Technological Advancements in Capsule Endoscopes.

            Rise in Incidences of Colon Cancer.

Restraints:

            Technological Incompetence of Capsule Endoscopes.

            Ethical Constraints.

Opportunities:

            Need for Rapid Drug Development Process.

Challenges:

            Potential Health Risks.

            Increasing Cost with Technological Advancement.

Given Imaging Inc. (Israel), Olympus Corporation (Japan), CapsoVision Inc. (U.S), Bio-Images Research Ltd. (U.K), Boston Scientific Corporation (U.S), Ge Healthcare (U.S) and Novartis AG (Switzerland) are some of the key players in the global Smart Pills Technology Market. Rising research and development expenses to address the changing demand of end users. Similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of the top players in the last 5 years.

Key Benefits for Stakeholders

Smart Pills Technology product manufacturers

Healthcare professionals and R&D centers

Research and Consulting organization

Government agencies & authorities

By Technology

Capsule Endoscopy

            Small Bowel Video Capsule Endoscopy

            Colon Capsule Endoscopy

Patient Monitoring

Drug Delivery

By Disease Indications     

Occult GI Bleeding

Crohn’s Disease

Small Bowel Tumors

Celiac Disease

Inherited Polyposis Syndromes

Others

By Region

North America

Europe

Asia-Pacific

RoW

Key Market Players

Given Imaging Inc.

Olympus Corporation

Capso Vision Inc.

Bio-Images Research Ltd.

Boston Scientific Corporation 

Ge Healthcare

Acamp

Novartis AG

Microchips

Vitality 

(Another brief information of 10 companies will be provided in the report)

Research Methodology:

Genesis Market Insights follows in-depth Research Methodology focused on reducing deviation in the collected data. GMI offers the most precise evaluations and projection for the market numbers. GMI engages following Market Engineering techniques –

1.      Raw Market Data is collected and compared with the Existing in-house Data on a broad front.
2.      Both Bottom-Up and Top-Down approaches are analyzed for segmenting and estimating measurable aspects of the market.
3.      To avoid bias, we filter the collected data collected from authenticated sources.
4.      GMI has a well proven Statistical Modeling System for estimates and forecasts.
5.      Further, the report findings are validated with the Industry Expert Panel on face to face or telephonic interviews.
6.      Panelists are approached from Leading Enterprises across the value chain including manufacturers, suppliers, technology providers, domain experts and buyers so as to validate a thorough and balanced market overview.

Detailed customization is also available for you. Further, if the report listed above does not meet wour key requirements. Our customized research report will analytically cover the required market information you need which will help you to plan your business decisions.