Research Nester published a report titled “Smart Pills Patient Monitoring Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global smart pills patient monitoring market in terms of market segmentation by application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global smart pills patient monitoring market is anticipated to attain a CAGR of ~15% over the forecast period, i.e., 2022 – 2031. On the basis of application, the market is segmented into, colonoscopy, Crohn’s disease, small bowel tumors, and others, out of which, the colonoscopy segment is anticipated to hold the notable share over the forecast period owing to the growing incidences of diseases, such as, intestinal tuberculosis, appendicitis, and colon rectal cancer, which require colonoscopy for diagnosis..
The global smart pills patient monitoring market is estimated to grow on the back of increasing adoption of technology in healthcare sector. Smart pills are used to monitor the vitals of patients, as they are embedded with wireless sensors. Moreover, the growing prevalence of various diseases, such as, cancer, diabetes, and others, are estimated to boost the market growth. According to the data by the World Health Organization (WHO), 422 million people suffer from diabetes.
On the basis of geographical analysis, the global smart pills patient monitoring market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share throughout the forecast period on the account adoption of advanced technology in the healthcare sector. Moreover, increasing investment in medical research activities is further anticipated to boost the regional market growth. According to the data by the World Bank, North America spent 2.734% of its GDP for R&D activities in 2018.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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Technological Advancement in Healthcare to Boost the Market Growth
According to the World Bank data, 2.204% of the global GDP was spent for R&D activities in 2018.
The adoption of technology in medical sector is estimated to primarily increase the demand for smart pills. Moreover, technological advancements in endoscopy procedures, and rising prevalence of colon cancer are expected to fuel the market growth. Furthermore, the increasing expenditure for research activities in the healthcare sector is further anticipated to encourage the demand for smart pills for patient monitoring.
However, high initial investment is expected to operate as key restraint to the growth of global smart pills patient monitoring market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global smart pills patient monitoring market which includes company profiling of Eisai Co., Ltd., Otsuka Pharmaceutical Co. Ltd., Allergan, Inc., TauRx Therapeutics Ltd., AbbVie Inc., Novartis AG, Siemens Healthcare GmbH, CapsoVision, Inc., and Medimetrics S.A. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smart pills patient monitoring market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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