What is Smart Pills Market?
Smart Pills is a medication that builds the psychological capacity of anybody taking it, regardless of whether the client is intellectually debilitated or typical. The Smart Pill goes through the GI plot and gathers weight, PH, and temperature information. After the case ingestion, an information beneficiary is worn on a belt or cord and records data gathered by the case. The information is downloaded to a PC furnishing doctors with the GI travel data to assess the stomach, little inside, and colon. The workplace visit will require around 30 minutes, at which point can go about typical day by day exercises. The visit doesn't need a medical clinic visit and doesn't open to radiation. SMART pill Conceptual PC work of art of two cerebrums inside a case, speaking to a savvy drug in an effectively regulated structure. Savvy drugs intend to invigorate districts of the mind, for example, the worldly and frontal projections, to improve insight, memory arrangement, and fixation. The name of the savvy pill presently alludes to any pill that can convey or control its conveyance of medication without the patient making a move past the underlying swallow.
The market study is being classified by Type (Capsule Endoscopy, Drug Delivery and Patient Monitoring) and major geographies with country level break-up.
CapsoVision, Inc. (United States), Given Imaging, Inc. (Israel), Medimetrics S.A. de C.V. (Mexico), Olympus Corporation (Japan), Bio-Images Research Limited (United Kingdom), Proteus (United States), Boston Scientific (United States), Fujifilm Holdings (Japan), Check-Cap (Israel) and Koninklijke Philips N.V.(Netherlands) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Medisafe (United States) and IntroMedic Co., Ltd (South Korea).
The companies are exploring the market by adopting expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Smart Pills market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Smart Pills market by Type, Application and Region.
On the basis of geography, the market of Smart Pills has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increased Patient Preference for Minimally Invasive Surgeries
- Growing usage of these non-invasive devices for the diagnosis of gastrointestinal disorders and cancer
Restraints
- Need for Rapid Drug Development Process
Opportunities
- The rising prevalence of chronic diseases such as breast cancer and colorectal cancer worldwide
- The FDA supports the development and use of new technology in prescription drugs and is committed to working with companies is booming the growth opportunities
Challenges
- Lack of awareness regarding smart pills
Market Leaders and some development strategies
In Jan 2019 Proteus United States-based company has launched a new smart pill product named Chemotherapy Pills to Improve Outcomes in Cancer Patients. It is oral chemotherapy equipped with its ingestible sensor, which aims to help oncologists track treatment effectiveness and adherence in their cancer patients.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Smart Pills Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry