The geriatric population is highly vulnerable to gastrointestinal disorders. Various smart pills are now being analyzed for potential application in therapeutics and diagnosing several acute and chronic diseases. Patients with chronic diseases who follow a specified dose of medication at the target site are anticipated to form a large customer base for advanced drug delivery products. The increasing demand for minimally invasive surgical procedures has led to innovative techniques such as capsule endoscopy. Capsule endoscopy is expected to replace traditional endoscopy methods due to its advantages, including ease of administration and detailed observation of the gastrointestinal tract. The capsule endoscopy plays a vital role in the early diagnosis and proper treatment of these disorders, along with hybrid imaging technologies and new component innovations. For instance, as per the University of Texas Health Science Center, the deployment of various colorectal cancer screening procedures, such as capsule endoscopy, improves adherence to screening. The university conducted a study comprising randomly assigned patients aged 50 to 75 and inferred that capsule endoscopy gives better diagnostic results than CT colonography. Such findings are estimated to boost the segment growth over the forecast period. Patients with a maximal requirement for home healthcare services face challenges concerning access and use of smart pills. This has resulted in developers and producers increasing the accessibility and usability of these devices, thereby facilitating the interpretation of data more simply. Most industries offer compatible software for collecting data over a longer duration, conveying valuable information about patient health, and providing suggestions for enhancing their quality of life. Being connected to smartphones through Bluetooth and providing data in user-friendly & statistical format is boosting the demand for smart pills.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the smart pills market. The North America smart pills market is expected to grow at a good CAGR during the forecast period.
North America Smart Pills Market Segmentation
The North America smart pills market is segmented based on application, disease indication, and end user. Based on application, the market is segmented into capsule endoscopy, drug delivery, and patient monitoring. The capsule endoscopy segment is sub segmented into small bowel video capsule endoscopy, colon capsule endoscopy, controllable capsule endoscopy, storable capsule endoscopy, and other capsule endoscopy. Based on disease indication, the market is segmented into gastrointestinal diseases, neurological disorders, cancer, inherited disorders, and other disease indications. Based on end user, the market is segmented into hospitals and clinics, research institutes, and home healthcare. By Country, the North America smart pills market is segmented into the US, Mexico, and Canada.
North America Smart Pills Market – Companies Mentioned
Capso Vision, Inc.; Medtronic; Check-Cap; PENTAX Medical; Olympus Corporation; and Otsuka Holdings Co., Ltd are among the leading companies in the North America smart pills market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 2,314.71 Million |
| Market Size by 2028 | US$ 5,300.85 Million |
| CAGR (2021 - 2028) | 12.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Application
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
1. Capso Vision, Inc.
2.Medtronic
3.Check-Cap
4.PENTAX Medical
5.Olympus Corporation
6.Otsuka Holdings Co., Ltd.
The North America Smart Pills Market is valued at US$ 2,314.71 Million in 2021, it is projected to reach US$ 5,300.85 Million by 2028.
As per our report North America Smart Pills Market, the market size is valued at US$ 2,314.71 Million in 2021, projecting it to reach US$ 5,300.85 Million by 2028. This translates to a CAGR of approximately 12.6% during the forecast period.
The North America Smart Pills Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Smart Pills Market report:
The North America Smart Pills Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Smart Pills Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Smart Pills Market value chain can benefit from the information contained in a comprehensive market report.
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