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Smart Pills Market Poised To Reach $3.0 Billion By 2025: Grand View Research, Inc.

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Smart Pills Market Poised To Reach $3.0 Billion By 2025: Grand View Research, Inc.

March 15
14:43 2019

Grand View Research, Inc. – Market Research And Consulting
According to report published by Grand View Research, Smart pills have transformed the landscape of small bowel, colon, and gastrointestinal endoscopy by providing a non-invasive and accurate method for visualizing distal duodenum, jejunum, small bowel, colon, gastrointestinal, and ileum.

According to a report,“Smart Pills Market Analysis By Application (Products [Capsule Endoscopy, Drug Delivery], Tools, and Patient Monitoring Software), By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa), And Segment Forecasts, 2018 – 2025”, published by Grand View Research, Inc., The global smart pills market is expected to reach USD 3.0 billion by 2025 at a CAGR of 15.5% during the forecast period, according to a new report by Grand View Research, Inc. Increase in prevalence of diseases such as colorectal cancer and gastrointestinal disorders, expansion in geographical reach of major players, rising cancer screening awareness programs, and expeditious FDA approvals are prime factors that are expected to drive market growth over the forecast period.

Key Takeaways from the report:

  • Capsule endoscopy is the largest application segment owing to factors such as growth in cancer screening awareness programs, increase in incidence of Crohn’s disease and bowel cancer, and increase in demand for minimally invasive procedures

  • North America is the dominant region with the largest revenue share. Wide availability of products, favorable reimbursement policies, increase in government investments in healthcare, and an overall rise in healthcare expenditure support market growth

  • Asia Pacific is expected to witness the fastest growth over the forecast period. Factors such as increase in disposable income, mandatory healthcare insurance, and rise in healthcare expenditure are expected to drive the market

  • Commercially available smart pills include PillCam Capsule, ABILIFY MYCITE, CapsoCam, and Olympus Endocapsule

  • Key players in the smart pills market include Medtronic, Olympus Corporation, Proteus digital Health, MediSafe, and CapsoVision

Smart pills have transformed the landscape of small bowel, colon, and gastrointestinal endoscopy by providing a non-invasive and accurate method for visualizing distal duodenum, jejunum, small bowel, colon, gastrointestinal, and ileum. Smart pills are mostly used for screening and treatment of diseases such as colorectal cancer, gastroparesis, gastric ulcers, and gastroesophageal disorders.

Japan smart pills market, by application, 2014 - 2025 (USD Million)

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Global smart pills market, by product, 2016 (%)

Consumers of smart pills mostly include geriatric population, immobile patients, and patients with paralysis. Considering the steady rise in geriatric population around the globe, the demand for advanced medical devices will also increase as they offer a degree of convenience to patients.

Established players in this market are enhancing their portfolio by upgrading existing devices. On the other hand, new players are focused on capturing emerging economies with breakthrough products that are both advanced and affordable.

Grand View Research has segmented the smart pills market on the basis of application and region:

Application Outlook (Revenue, USD Million, 2014 – 2025)

  • Product

    • Capsule Endoscopy

    • Drug Delivery

  • Tools

  • Patient Monitoring Software

Regional Outlook (Revenue, USD Million, 2014 – 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • Japan

  • Latin America

    • Mexico

    • Brazil

  • MEA

    • South Africa

Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: Switzerland
Website: www.grandviewresearch.com/industry-analysis/smart-pills-market

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