Europe Smart Pills Market, By Type (Multiparameter Monitoring and Single Parameter Monitoring), Disease Indication (Occult Gastrointestinal Bleeding, Crohn’s Disease, Small Bowel Tumors, Celiac Disease, Inherited Polyposis Syndromes and Mental Disorders), Application (Capsule Endoscopy, Drug Delivery and Patient Monitoring of Cancer), End User (Hospital, Diagnostic Centers and Others), Country (Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Hungary, Lithuania, Austria, Ireland, Norway, Poland and Rest of Europe) Industry Trends and Forecast to 2029
Market Analysis and Insights of Smart Pills Market
Data Bridge Market Research analyses that the smart pills will exhibit a CAGR of around 19.17% for the forecast period of 2022-2029. Increasing prevalence of chronic and autoimmune diseases across the world, continuous attempts being made to embrace the best pharmaceutical drugs and vaccines, growing patient preference for minimally invasive surgeries, and increased expenditure for the development of healthcare infrastructure are the major factors attributable to the growth of smart pills market.
The smart pills are capsule-sized ingestible medicinal devices equipped with cameras, patches, sensors, and trackers, as the title indicates. Smart pills are used to track the effects of tablets on patients and to better understand the efficacy of pharmacological treatments, allowing for better healthcare decisions.
Growing technological advancements in capsule endoscopes is a major factor fostering the growth of market. Rising expenditure on the development of healthcare infrastructure, increasing geriatric population and rising incidences of cancer are other factors also fostering the growth of the market. Rising unmet medical needs augmenting the demand for health care services, growing necessity of rapid drug development process and personal disposable income are some other indirect determinants that will create lucrative market growth opportunities.
However, non-favourable reimbursement scenario in the developing and under developed economies will pose a major challenge to the market growth. Strict regulations for the approval of medical devices will further challenge the market growth rate. Requirement of high capital to purchase high-cost equipment will further derail the market growth rate.
This smart pills market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on smart pills market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Smart Pills Market Scope and Market Size
The smart pills market is segmented on the basis of type, disease indication, application and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Based on type, the smart pills market is segmented into multiparameter monitoring and single parameter monitoring.
- On the basis of disease indication, the smart pills market is segmented into occult gastrointestinal bleeding, Crohn’s disease, small bowel tumors, celiac disease, inherited polyposis syndromes and mental disorders.
- Based on application, the smart pills market is segmented into capsule endoscopy, drug delivery and patient monitoring of cancer.
- Smart pills market has also been segmented based on the end user into hospital, diagnostic centers and others.
Smart Pills Market Country Level Analysis
The smart pills market is analysed and market size insights and trends are provided by country, type, disease indication, application and end user as referenced above.
The countries covered in the smart pills market report are Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Hungary, Lithuania, Austria, Ireland, Norway, Poland and Rest of Europe
Germany, France and U.K. in Europe dominate the smart pills market owing to the increasing government initiative to improve healthcare infrastructure, higher usage of drug delivery systems in healthcare facilities, high prevalence of autoimmune diseases in these countries and increasing personal disposable income.
The country section of the smart pills market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Patient Epidemiology Analysis
The smart pills market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analysis of epidemiology to smart pills market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the smart pills market in the growth period.
Competitive Landscape and Smart Pills Market Share Analysis
The smart pills market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to smart pills market.
Some of the major players operating in the smart pills market report are Boston Scientific Corporation, GENERAL ELECTRIC COMPANY, Medtronic, Microchip Technology Inc., Novartis AG, Koninklike Philips N.V., Stryker, Pixie Scientific, LLC, Proteus Digital Health, FUJIFILM Holding Corporation, INTROMEDIC, MEDISAFE, Check-Cap, PENTAX Medical, JINSHAN Science & Technology, CapsoVision, HQ Inc., Medimetriks Pharmaceuticals Inc., and Cerner Corporation among others.