A smart pill is an ingestible capsule with miniaturized micro-electronics which includes an electric component such as sensors, cameras, microchip, etc. Wireless capsule, a receiver, and computer software are the basic components of smart pills procedure. Smart pills are used in a wide range of applications such as detection and monitoring of various physiological measures of the gastrointestinal tract, drug delivery, and patient monitoring. Smart pills are ingestible in nature and can be swallowed by the oral route of administration. Drug delivery by smart pills is emerging technology which shows significant opportunity for the pharmaceutical industry to exploit the untapped market in the coming years.
Increasing incidence of chronic diseases such as gastrointestinal tract disease, colorectal cancer, etc. and rising geriatric population are expected to boost the demand for smart pills during the forecast period. For instance, according to the American Cancer Society, around 95,520 new cases of colon cancer and around 39,910 cases of rectal cancer were diagnosed in 2017 across the United States. In addition, increase in technological advances pertaining to smart pills such as miniaturization of electronic components and an integrated circuit, availability of microprocessors, integration of advanced and innovative drugs, and others are also expected to fuel the growth of smart pill market during the forecast period. Furthermore, the high adoption of minimally invasive surgeries and the paradigm shift from conventional techniques towards smart pills for diagnosis and monitoring of gastrointestinal tract disease have also fuelled the growth of the market during the forecast period. However, the technological incompetence of capsule endoscopes, huge cost of smart pill and dearth of skilled healthcare professionals are some of the factors which hinder the growth of the market.
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Various notable players operating in the market, include Boston Scientific Corporation, Capsovision Inc., Chongqing Jinshan Science & Technology Group Co. Ltd., Fujifilm Holdings Corporation, GE Healthcare, Acamp, Given Imaging Inc., Intromedic Co. Ltd., Karl Storz Gmbh & Co., Medimetrics, Olympus Corporation, Pentax Medical Company, Proteus Digital Health Inc. among others.
Companies are focussing on merger & acquisition, collaboration, partnership, research, and development activities whereas, major companies are adopting merger & acquisition strategy to expand their geographical presence. For instance, in 2016, Boston Scientific Corporation acquired EndoChoice Holdings Inc.
The global smart pill market has been segmented on the basis of application, target area, indication, end user and key geographies. Based on Application, the market comprises capsule endoscopy, drug delivery, and patient monitoring. The research report “global smart pill market” provides in-depth analysis of global smart pill market based on application, target area, indication, end user and major geographies for the forecast period from 2018 to 2025. The report also highlights the major market drivers propelling the growth as well as challenges faced by market participants. The research report provides market size and forecast for the global Smart Pill Market. In addition, the report also analyses the competitive landscape, major players and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.
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Key questions answered in this research report:
1. At what pace is smart pill market growing? What will be the growth trend in the future?
2. What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
3. What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the smart pill market?
4. What are the various application areas and how they are poised to grow?
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