Smart Pills Market, By Area (Stomach, Esophagus, Small Intestine, Large Intestine), Application (Patient Monitoring, Capsule Endoscopy, Drug Delivery), Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
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: