Smart pill technology is a revolutionary technological innovation that has reduced the gap between healthcare and digital technology. Smart pills are basically medical devices and small embedded electronic appliances such as sensors, cameras and trackers.
This electronic device can be easily swallowed and provides complete evaluation of the gastrointestinal tract (GIT). The emergence of these healthcare-cum-technology devices has addressed the soaring need of better diagnostics and monitoring. It has outperformed the conventional GI monitoring endoscopy with more convenient smart pill technology, which has now become the standard non-invasive diagnosis technique for motility disorders. Moreover, it helps physicians in real-time patient monitoring through remote controlling options.
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In order to produce a holistic assessment of the market, a variety of factors is considered, including demographics, business cycles, and microeconomic factors specific to the market under study. Global Smart Pills Technology Market report 2021 also contains a comprehensive business analysis of the state of the business, which analyzes innovative ways for business growth and describes critical factors such as prime manufacturers, production value, key regions, and growth rate.
The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
The global smart pills technology market is expected to register a substantial growth in the future, owing to the increased prevalence of gastrointestinal diseases (such as motility disorders, colon cancer, obscure gastrointestinal bleeding and Crohns disease), sedentary lifestyle and high patient compliance on account of minimally invasive techniques.
The advent of novel technologies such as catheter-less pH monitoring and wireless capsule based GI monitoring would foster an accelerated market growth. Collaborations between research institutions and companies, licensing agreements & partnerships amongst companies and augmented R&D investment on smart pills are some of the other factors boosting the market growth. Despite several advantages, factors such as high costs, limited technical know-how and low patient confidence are likely to restrain the growth of the market.
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The report segments the smart pills technology market on the basis of technology, application and geography. On the basis of technology, the market is segmented into capsule endoscopy technology and gastrointestinal monitoring technology. Based on application, the market has been classified into diagnosis and monitoring.
Geographic breakdown and deep analysis of each of the aforementioned segments have been included for North America, Europe, Asia Pacific and LAMEA. Comprehensive competitive analysis and profiles of major market players such as Proteus Digital Health, CapsoVision, Inc., Given Imaging, Inc., Olympus Corporation, Chongqing Jinshan Science & Technology Group Co. Ltd, and IntroMedic Co. Ltd have also been provided in the report.
This report provides an extensive analysis of the current and emerging market trends and dynamics in the global smart pills market
In-depth analysis has been done in this report by constructing market estimations for the key market segments for the period of 20142020
Geographically, the smart pills technology market is analyzed based on various regions such as North America, Europe, Asia Pacific and LAMEA
Exhaustive analysis is done for the market by application such as diagnosis and monitoring
The studies evaluating competitive landscape and value chain have been taken into account in this report to help in understanding the competitive environment across the geographies
Detailed SWOT analysis of the key market players is provided to illustrate the adopted business strategies
The report entails the detailed quantitative analysis of the current market and estimations through 2014-2020 that assists in identifying the prevailing market opportunities to capitalize on
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KEY MARKET SEGMENTS:
The Global Smart Pills technology market segmentation is illustrated below:
Global Smart Pills Technology Market By Technology
Capsule endoscopy technology
Small bowel capsule endoscope
Colon capsule endoscope
Esophagus capsule endoscope
Workstations and recorders
Gastrointestinal Monitoring Technology
Single parameter (pH) monitoring
Multi parameter (pH, temp, pressure) monitoring
Global Smart Pills Technology Market By application
Global Smart Pills Technology Market By geography
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The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
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This market report shows the projected market size for the pain management devices market at the end of the forecast period. The report also examines the historical and current market sizes.
On the basis of various indicators, the charts present the year-over-year growth (%) and compound annual growth rate (CAGR) for the given forecast period.
The report includes an overview of the market, its geographical scope, its segmentation, and the financial performance of key players.
The report examines the current state of the industry and the potential growth opportunities in North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa.
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The report analyzes companies across the globe in detail.
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This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.
It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.
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