The global demand for Smart Pill Market is presumed to reach the valuation of nearly USD XX MN by 2026 from USD XX MN in 2019 with a CAGR of XX% under the study period of 2020 - 2026.
Smart pills, also known as digital pill, are medications equipped with edible electronic sensors that send a wireless message to devices such as tablets, smartphones, and patches outside the body when they are ingested. The concept of digital pill by using sensors and chips to improve the health of an individual is new. The pill was approved for use in human in 2017 by the FDA.
Smart pill is gaining robust popularity in pharmaceutical and healthcare sector. Smart pill is changing the normalised drug culture and is about to heighten the relationship into reality. Currently, smart pills are available for brain disease, chronic disease, and cancer. Researchers are now investigating it for other diseases too. The study revealed that half of the medications for chronic disease aren't taken as directed while about one-third of patients don't even fill their prescriptions. These pills provide important benefits to the irresistible number of people who have trouble taking their medications as they should. The chronic diseases patients are expected to form a large customer base for the smart pill market. Attributed to rising opportunities for other therapeutic, companies within the market are launching new products to diversify the motility by collecting and analyzing data. However few studies suggest that smart pill may have negative effects on healthy people, the drug slows reaction time and impairs their ability to respond promptly and failed to improve their task and performance. This is projected to raise a concern about its application.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of Smart Pill.
The entire Smart Pill market has been sub-categorized into target area, application, and end-user. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Target Area
- Capsule Endoscopy
- Patient Monitoring
- Drug Delivery
By End User
- Small Intestine
- Large Intestine
- Diagnostic Center
- Research Center
This section covers regional segmentation which accentuates on current and future demand for Smart Pill market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Smart Pill Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Smart Pill market include Medtronic PLC, Proteus Digital Health, CapsoVision, Inc., Olympus Corporation, and Medisafe. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.