Smart Imaging Pills Market Poised to Capture a Double-Digit CAGR Between 2018 and 2023

MRFR in its latest report projects that the global Smart Imaging Pills Market will surge as impressive CAGR of 14.2% during the review period. Smart pills are ground-breaking ingestible medical devices.

They are finding application opportunities in areas such as drug delivery, treatment and diagnosis. A considerable emphasis is being placed on development of capsule-sized medical devices to make various types of medical procedures safer and simpler.

Expanding global geriatric population and increased prevalence of various types of chronic and acute disorders such as cancer, diabetes etc have led to a greater need for innovative medical solutions such as smart pills.

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These pills facilitate on-site diagnosis with minimum medical arrangements. Nonetheless, there are several challenges in the form of regulatory norms, lengthy product approval process and high cost that are yet to be tackled.

Global Smart Imaging Pills Market: Segmental Analysis

MRFR’s report includes a detailed segmental analysis of the market based on target area, application, end-user and disease indication.

Global Smart Imaging Pills Market, by Application

• Capsule Endoscopy
• Small Bowel Capsule Endoscopy
• Controllable Capsule Endoscopy
• Colon Capsule Endoscopy
• Other
• Drug Delivery
• Patient Monitoring
• Others

Global Smart Imaging Pills Market, by Target Area         

• Esophagus
• Small Intestine
• Large Intestine
• Stomach

Global Smart Imaging Pills Market, by Disease Indication

• Esophageal Diseases
• Small Bowel Diseases
• Colon Diseases
• Others

Global Smart Imaging Pills Market, by End User

• Hospitals
• Diagnostic Center
• Research Institute

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Smart Imaging Pills Market: Competitive Landscape

INTROMEDIC, PENTAX Medical, JINSHAN Science & Technology, Check-Cap, RF Co., Ltd., CapsoVision, Inc., Olympus Corporation, FUJIFILM Holdings Corporation, Proteus Digital Health, Inc., BDD Limited, MEDISAFE and MEDTRONIC are some of notable market players mentioned in the report.

Global Smart Imaging Pills Market: Regional Analysis

In the report, the market has been covered across Europe, Asia Pacific (APAC), North America, South America and the Middle East & Africa (MEA). North America and South America collectively hold the largest market share in terms of value. As per the organization Partnership to Fight Chronic Disease (PFCD) over 133 Mn people in the U.S have at least one chronic disease, which is equivalent to almost 45% of the total population. In the U.S., chronic diseases are also responsible for a sizable number of deaths.

Europe and Asia Pacific are the other two important market for smart pills. In Europe, factors such as high healthcare expenditure and increased focus on delivering effective healthcare is driving the growth of the market. The European Commission revealed that healthcare accounted for more 16% of total expenditure in Europe in 2016.

Meanwhile, the market in Asia Pacific is projected to witness the fastest growth during the forecast period. Fueled by the expanding patient pool, increased investment in healthcare and rapid healthcare penetration, the Smart Imaging Pills Market in APAC is set to exhibit a strong CAGR over 2022.

The market in MEA is also expected to register an impressive growth rate but from a smaller growth rate. The healthcare sector is undergoing tremendous transformation in the Middles East, which GCC countries such as Saudi Arabia, UAE and Qatar at the forefront.

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Factors such as rising incidence of chronic disorders, presence of robust reimbursement policies, rapid adoption of next-generation medical technologies are reflecting favourably on the region’s market.

At Market Research Future (MRFR), Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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