Smart Pills Market - Trends Forecast Till 2028

Smart Pills Market – Trends Forecast Till 2028

The global smart pills market is anticipated to reach USD 832.8 million by 2020 growing at a CAGR of 16.5% during the forecasting period, 2020-2028. It has been analyzed that smart pills technology will assist patients and doctors so as to track increasing patient adherence, drug regimen compliance. Factors such as increasing bent towards minimally invasive procedures, rising cases of colon cancer, growing technological advancement in endoscopy procedures are driving the market for smart pills.

The global smart pills market is segmented into area, application, and geography.

Area segment is sub-segmented into the stomach, esophagus, small intestine, and large intestine

The application segment is segmented into patient monitoring, capsule endoscopy, and drug delivery

On the basis of application, the capsule endoscopy segment is expected to dominate the market for smart pills market during the forecast period 2020-2028

Geographically, the global smart pills market is sub-segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America and insights are provided for each region and major countries within the regions.

North America region is the largest contributor to the smart pills market in the forecast period 2020-2028 and the Asia-Pacific region is expected to expand with the highest growth rate during the forecast period 2020-2028.

Key players in the global smart pills market are Olympus Corporation (Japan), CapsoVision, Inc. (U.S.), Medimetrics S.A. de C.V. (Mexico), Given Imaging, Inc. (Israel), Bio-Images Research Limited (U.K.) among others

The companies have come up with various promotional activities in from of launch, investment, acquisition, and other, for instance:

• In 2019, Proteus launched smart chemotherapy pills for improving outcomes in cancer patients
• In 2019, Stanley Black & Decker and Pillo Health launched a pill-dispensing robot companion. It has been designed to help patients with chronic conditions for maintaining their medication schedule and health with the help of a built-in voice assistant to communicate with caregivers and patients.             

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In addition to the market data for the Smart Pills market. Delvens offers client-centric reports and is customized according to the company’s specific demand and requirements.

Research Methodology

Secondary Research

This research method involved the usage of extensive secondary sources (such as directories and databases)—Hoovers, Avention, annual reports, investor presentation, conferences like Jefferies conference)—to identify and collect information useful for this study of the smart pills market. The purpose of secondary research was to identify and collection of extensive, technical, market-oriented, and commercial studies of the global smart pills market. Through secondary research, the market is classified and segmented as per industry trends, developments, regional markets, products, and technological developments.

Primary Research

The primary sources mainly included several industry experts from the core and related industries and suppliers, manufacturers, distributors, alliances, and organizations related to all segments of this industry’s supply chain. In-depth interviews were conducted with various primary respondents—including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts—to obtain and verify critical qualitative and quantitative information as well as to assess future prospects. The following figure depicts the market research methodology used in drafting this report on the smart pills market.

Primary Respondent breakdown is given below:

Market Sizing

Top-down and bottom approaches were used to derive the market estimate and validate the total revenue of the smart pills market. This approach has also been used to derive the market for segmentation and sub-segmentation.

Data Validation

Impact analysis has been conducted for deriving the market size. After collecting the in-depth quantitative and qualitative data, we contact primary respondents in order to gain a 98.8% of confidence level on our data.

The data validation involves the primary research from the industry experts belonging to:

• Leading Companies
• Suppliers & Distributors
• Manufacturers
• Consumers
• Industry/Strategic Consultants