According to the report “Smart Pill Technologies”, published by Market Data Forecast, the global market is projected to reach USD 4827.33 million by 2021, at a CAGR of 17.5% from 2016 to 2021.
Smart Pill Technologies is the use of advanced methods for the preparation of prescription pills which has revolutionized patient monitoring, diagnosis of diseases and improved drug delivery. Smart pill technologies are the converging link between digital technology and healthcare industries.
The market is mainly driven due to benefits provided by the smart pills technology such as technological advancements in endoscopy procedures, targeted drug delivery, and easy remote patient monitoring. But, the market growth can be hampered due to higher associated cost and poor adaptation of technology especially in developing countries.
Global Market for Smart Pill Technologies is segmented based on Application into further sub-segments as follows:
- Capsule Endoscopy
- Small Bowel Video Capsule Endoscopy
- Colon Capsule Endoscopy
- OMOM Capsule Endoscopy Platform
- Upgraded MiroCam and Advanced Capsule Endoscope
- The ANKON MCE System
- Drug Delivery
- Patient monitoring
Geographically, the market for Smart Pill Technologies is segmented as below:
- North America
- Latin America
- Middle-East and Africa
CapsoVision, Inc., Given Imaging, Inc., Medimetrics S.A. de C.V., Olympus Corporation, Bio-Images Research Limited, Novartis, Given Imaging Ltd, Philips Healthcare, Smartpill, Inc., Medtronic, Inc., Pentax Medical Company, Siemens Healthcare, Stryker Corporation, GE Healthcare, Boston Scientific Corporation, IntroMedic Inc., Chongqing Jinshan Science & Technology Group Co. Ltd., Proteus Digital Health Inc., are the major players of Global Smart Pill Technologies market.
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