The Business Research Company’s Smart Pills Global Market Report 2021 – COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, October 4, 2021 /EINPresswire.com/ — According to the new market research report ‘Smart Pills Global Market Report 2021’ published by The Business Research Company, the smart pills market size is expected to grow from $2.31 billion in 2020 to $2.5 billion in 2021 at a compound annual growth rate (CAGR) of 8.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The smart pills market is expected to reach $3.32 billion in 2025 at a CAGR of 7.3%. The growing preference for non-invasive procedures is driving the smart pills market.
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The smart pills market consists of the sales of capsule sized ingestible medical devices with a small embedded electronic product such as sensors, cameras, patches, and trackers. Once swallowed, the smart pill gets activated in the gut and the sensors provide information about patient’s health parameters and the effectiveness of medication leading to more optimized therapies. The smart pills market includes the sales of various ingestible smart medical devices that help in better diagnosis, patient monitoring and targeted drug delivery. The smart pills used in hospitals, diagnostic centers and research institutes are included in the smart pills market.
Trends In The Global Smart Pills Market
Extensive research and development is being carried on the use of miniature chips such as Addressable Transmitters Operated as Magnetic Spins (ATOMS) which can be used as smart pills. ATOMS are silicon chip devices that use the principle of magnetic resonance imaging (MRI) to determine location of atoms in a patient’s body using magnetic fields. ATOMS can be used in ingestible smart pills to diagnose and treat diseases from within the body. The devices can be used to monitor a patient’s gastrointestinal tract, blood, or brain. They also could measure factors that indicate the health of a patient such as pH, temperature, pressure, and sugar concentrations and relay that information to doctors. The devices could even be instructed to release drugs. For instance, scientists at Caltech (California Institute of Technology) have developed a miniature medical chip that can be used as a smart pill.
Global Smart Pills Market Segments:
The global smart pill market is further segmented based on application, end user, target area, disease indication and geography.
By Application: Capsule Endoscopy, Patient Monitoring, Drug Delivery
By End User: Hospital, Diagnostic Center, Research Institute
By Target Area: Esophagus, Stomach, Small Intestine, Large Intestine
By Disease Indication: Esophageal Diseases, Colon Diseases, Small Bowel Diseases, and Others
By Geography: The global smart pills market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Smart Pills Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides smart pills market overviews, analyzes and forecasts market size and growth for the global smart pills market, smart pills market share, smart pills market players, smart pills market segments and geographies, smart pills market’s leading competitors’ revenues, profiles and market shares. The smart pills market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Smart Pills Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Smart Pills Market Organizations Covered: Medtronic Plc., Olympus Medical Technology, CapsoVision, Inc., Novartis AG, Proteus Pharmaceuticals, Philips Healthcare, Microchips, Bio-Images Drug Delivery (BDD) Limited, Given Imaging, Inc, Vitality, Boston Scientific Corporation, Boston Scientific Corporation, HQ, Inc., Fujifilm Holdings Corporation, GE Healthcare.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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