Smart Pill Technologies Market Size, Share, Growth & Forecast 2023

Overview

Smart pill technology is employed to diagnose duct (GI) disorders like constipation and gastroparesis. This technology functions by providing information on numerous parameters like pH scale, temperature, and pressure of GI tract. This technology contains a wireless capsule, a receiver worn (by the patient) and pc software system that analyzes and kinds the collated info. It is an emerging technology that holds potential within the field of medical medicine. This technology is very helpful for diagnosing duct disorders which remain unknown to physicians because of restricted diagnostic scope.

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Europe Smart Pill Technologies Market has been estimated at USD 811 Million in 2018 and is projected to reach USD 1795 Million by 2023, at a CAGR of 17.0% during the forecast period from 2018 to 2023. Favorable compensation state of affairs across the world, patient preference for minimally invasive procedures, and rising prevalence of carcinoma are some of the factors driving the market growth.

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Drivers and Restraints

The ****** good pills technology market is predicted to register a considerable growth within the future, attributable to the enhanced prevalence of duct diseases (such as motility disorders, carcinoma, obscure duct trauma and Crohn’s disease), inactive fashion and high patient compliance on account of minimally invasive techniques. The appearance of novel technologies like catheter-less pH scale observance, ingestible sensors and also the wireless capsule primarily based GI observance would foster associate accelerated market growth. Capsule endoscopes give the entire examination of canal that consists of a whole read of the abdomen together with musculature, and huge gut. Such pharmaceutical capsules play a significant role in differentiating between the healthy and unhealthy cells like targeted good drug delivery or a targeted medical aid.

According to Centers for sickness management and hindrance (CDC) 2015, it’s presently calculable that concerning 1–1.3 Million individuals suffer from IBD within the U.S. Prevalence of colitis is 201 per 1000 adults and colitis is 238 per one 1000 adults. Also, the ever-changing fashion connected syndromes and disorders can more boost this market.

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Regional Overview

North America and Europe conjointly accounted for the biggest market share within the overall Smart Pill Technologies Market, in 2014. Europe accounted for major shares of market revenue in 2014. The expansion in this region is primarily attributed to the first adoption of novel technologies, an outsized patient population, and high disposable incomes and also the contemporary selling and commercializing of smart pill product.

The major market contributors for the ****** Smart Pill Technologies Market are CapsoVision, Inc., Given Imaging, Inc., Medimetrics S.A. de C.V., Olympus Corporation, Bio-Images Research Limited, Novartis, Given Imaging Ltd, Philips Healthcare, Smartpill, Inc., Medtronic, Inc., Pentax Medical Company, Siemens Healthcare, Stryker Corporation, GE Healthcare, Boston Scientific Corporation, IntroMedic Inc., Chongqing Jinshan Science & Technology Group Co. Ltd., Proteus Digital Health Inc.,

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