SMART PILL MARKET SET TO GROW TO OVER $2.4BN IN 2017
07 August 2017
Visiongain has launched a new pharma report Smart Pill Market World Market Forecast 2017-2027: See Prospects for Capsule Endoscopy, Drug Delivery and Patient Monitoring in North America, South America, Europe, Asia-Pacific and the Rest of the World
Smart Pill technology is a revolutionary technological innovation that has bridged 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 it also provides complete evaluation of the gastrointestinal tract (GIT).
The emergence of these ‘healthcare-cum-technology’ devices has addressed the soaring need for 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.
The lead Visiongain report analyst for this report commented; “The Value Chain of the Smart Pill technology market includes different stakeholders such as Raw material suppliers, Manufacturers, Suppliers/distributers, Service providers, and Payers (Hospitals and clinics). Each stakeholder plays a different role and the activities indicate the direct influence that production processes have on the Smart Pill technology market. The functioning of primary activities is supplemented by supporting activities without any disruption in the production process. These support activities in the Smart Pill technology include technological advancements, patent protection, research and development activities along with government regulations and reimbursement. Primary and secondary activities are greatly influenced by external stakeholders such as suppliers, end-users and payers (Hospitals and clinics).
However, clinicians, doctors and gastroenterologist sometimes prefer traditional endoscopy procedures due to its comparatively lower cost than capsule endoscopy systems. Moreover, in under developed regions like Africa, doctors for the sake of patient’s affordability mostly prefer traditional endoscopy techniques. However, the diagnostic results offered by the capsule endoscopy technique is far better than traditional endoscopy techniques, thus, the smart pill market is expected to increase significantly in size over the forecast period”
The Smart Pill Market World Market Forecast market is highly competitive with many different players entering the market. The report discusses selected leading companies in the market. Notable companies in the global smart pill market Cerner Corporation,
GE Healthcare, Proteus Digital Health Inc, Boston Scientific Corporation, Capso Vision Inc., Fujifilm Holdings Corporation, Medtronic PLC, Bio-Image Drug Delivery Limited (BDD), Hoya Corporation (PENTAX Medical) and Olympus Corporation.
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