This Smart Pill Technologies market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Smart Pill Technologies market.
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 is the converging link between digital technology and healthcare industries. These smart pills have many benefits other than providing signals and alerts when consumed. By programming the pill accordingly, it can trigger a reminder according to the remainder time whenever the pill needs to be consumed. It can alert the physician, patient, medical staff or the caretaker when the medicine has been consumed which will help in accurate documentation of patient compliance or adherence. It can also provide alerts if the pill hasn't been consumed on a timely routine since multiple medications need to be taken by a large number of patients. Physicians do a good job of triangulating medications with their patients, since new additions/OTC medications are not routinely documented. So with the use of smart pill technology, the data collected can further be of assistance by identifying potential drug-drug interactions, errors in dosage, schedule errors and help identify/prevent adverse events. Pills can also turn to be useful in sending alert signals when medicines are past their expiry date.Patients on medications such as antibiotics can be monitored and alerted to complete their course to ensure that drug resistance is not encountered.
Smart Pill Technologies Market: Drivers and Restraints
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Smart Pill Technologies Market: Segmentation
The Smart pill technologies market is classified on the basis of application, disease indication and geography.
Smart Pill Technologies Market: Overview
The smart pill technologies has recently entered the market and is rapidly penetrating the developed as well as developing countries. The growing demand and escalating adoption rate for monitoring and treating diseases by newly advanced technologies has given an impetus to the global smart pill technologies market. In the last few years the market has seen high percentage of acceptance towards usage due to non-invasiveness, better patient accessibility and thorough monitoring. Capsule endoscopy accounted for the highest revenue in 2014. The first capsule endoscope model, which is now regarded as a first-line tool for the detection of abnormalities of the small bowel, was the PillCam SB. It was approved in Japan in April 2007. GI monitoring application segment is expected to register fastest growth in the forecast period, amongst all other segments. In the coming years, global smart pill technologies market will witness significant developments in innovation of a wide range of new products that will require novel marketing approaches. The smart pill technologies market is currently underpenetrated and in its nascent stage of development. Although the maximum revenues are generated by the developed countries, it is also observed that CAGR in the developing countries are high. The reason for the growth in the CAGR can be attributed to the increasing awareness in the latest innovative testing methods and the continuously improving economic conditions.
Smart Pill Technologies Market: Region-wise Outlook
On the basis of geography, Global Smart pill technologies market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. North America and Europe collectively accounted for the largest market share in the overall smart pills technology market, in 2014. North America accounted for about half the share of market revenue in 2014. The growth in this region is primarily attributed to the early adoption of novel technologies, a large patient population, high disposable incomes and the fresh marketing and commercializing of smart pill products. Asia Pacific is expected to grow at a remarkable CAGR for smart pills technologies market due to increasing healthcare awareness.
Smart Pill Technologies Market: Key Players
Key players in the global Nucleic Acid Testing market include CapsoVision, Inc., Given Imaging, Inc., Medimetrics S.A. de C.V., Olympus Corporation, and Bio-Images Research Limited, IntroMedic Inc., Chongqing Jinshan Science & Technology Group Co. Ltd., Proteus Digital Health Inc., Novartis AG, and Philips Healthcare.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Future Market Insights.
Unique Requirements? Customize this Report
- Customize by Region, Country, Application, Product, & other segments
- Integrate our Insights with your Existing Data
- Determine the scope of the study to suit your requirements
Let FMI Help You!
- Gain Insights on Key Smart Pill Technologies Market Impacting Forces
- Know the Winning Strategies of Market Leaders
- Get Deep-Dive Analysis on Each Segment
- Identify the Sources that will Drive Top-Line Revenue
Based on application, the global smart pill technologies market is segmented into the following:
- Capsule Endoscopy
- Small Bowel Video Capsule Endoscopy
- Colon Capsule Endoscopy
- OMOM Capsule Endoscopy Platform
- Small Bowel Capsule Endoscopy
- Controllable Capsule Endoscopy
- Storable Capsule Endoscope
- Colon Capsule Endoscope
- pH Capsule Wireless Monitoring System
- Impedance–pH Monitoring System
- Upgraded MiroCam and Advanced Capsule Endoscope
- The ANKON MCE System
- Drug Delivery
- Patient monitoring of cancer
Based on disease indication, the global smart pill technologies market is segmented into the following:
- Occult GI Bleeding
- Crohn’s Disease
- Small Bowel Tumors
- Celiac Disease
- Inherited Polyposis Syndromes
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, BENELUX)
- Eastern Europe (Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa)
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
Frequently Asked Questions
Why choose FMI?
- With a global presence and a trusted partner to several Fortune 500 firms, FMI covers 1 billion+ data points to build a diversified portfolio for market benchmarking
- Market Reports researched and peer reviewed by industry experts from across the globe
- We follow a multi-dimensional method of analysis monitoring a three-layer data validation process
- In addition to demand-side market assessment, our data triangulation methodology involves supply-side research
- Primary research includes mandatory field interviews with stakeholders involved
- Customizing reports according to client specification is also our forte
What will you discover from Smart Pill Technologies Market report?
- The current and future market size, covering each aspect and nuanced trends across key national and geographic markets
- An overview of the market report, providing an imperative visual of the varied market subdivisions and overall forecast statistics in terms of value and volume
- Extensive database and key dynamics elevating the market with varied verticals associated
- Underlying Smart Pill Technologies Market forces that are compelling consumers or businesses to purchase the product
- How novel technologies and consumer-centric innovations will create new value-adding opportunities for companies active in the Smart Pill Technologies Market
- What will be environment and regulatory impacts on the market over the next decade
Which framework has been used to develop the Smart Pill Technologies Market report?
- Investment Feasibility Matrix - It shows returns on investment, level of competition, success rate of investment, and potential risks associated with the market. The analysis shows that the competition is high in the established market, while the returns for short-term investment are also taken into consideration
- Relative Maturity Mapping – The relative maturity is measured according to three growth phases (growth, maturity, decline)
- Relative PLC (Product Life Cycle) – Analysis of the emergence of prominent players and competitive test prices which are driving factors behind every market. (expected market behavior, observed market behavior, expected market performance, observed market performance)