The smart pill market is projected to grow at a CAGR of 12.43% during the forecast period, reaching a total market size of US$4.856 billion in 2024 from US$2.405 billion in 2018. The rising prevalence of gastrointestinal diseases such as colon cancer is boosting the demand for smart pill technology on account of minimally invasive surgeries. Growing demand for minimally invasive surgeries and the replacement of painful injections with painless pills is spurring the growth of the smart pill market. Technological advancements in wireless health technology coupled with increasing R&D collaborations and partnerships amongst companies to convert injectable drugs into pills will continue to bolster the growth of the smart pill market during the forecast period. However, high costs and concerns over patients’ data privacy and sharing are restraining the growth of the smart pill market.
The “Smart Pill Market – Forecasts from 2019 to 2024” is an exhaustive study that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key markets, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by application and geography.
The smart pill market has been segmented based on application and geography. By application, the market is classified as drug delivery and patient monitoring.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific regions. The report also analyzes major countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries/regions present for the manufacturers.
Major players in the smart pill market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the smart pill market.
Frequently Asked Questions (FAQs)
Q1. What is the size of the global smart pill market?
A1. Smart Pill Market was valued at US$2.405 billion in 2018.
Q2. What will be the smart pill market size by 2024?
A2. The smart pill market is projected to reach a total market size of US$4.856 billion by 2024.
Q3. What are the growth prospects for the smart pill market?
A3. The global smart pill market is projected to grow at a CAGR of 12.43% during the forecast period.
Q4. What factors are anticipated to drive the smart pill market growth?
A4. Growing demand for minimally invasive surgeries and the replacement of painful injections with painless pills is spurring the growth of the smart pill market.
Q5. Who are the major players in the smart pill market?
A5. Key industry players profiled as part of the smart pill market report are Medtronic, Proteus Digital Health, Rani Therapeutics, Medimetrices, Otsuka America Pharmaceutical, Inc., among others.
Proteus Digital Health
Otsuka America Pharmaceutical, Inc.
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