1 / 18

Ingestible Smart Pills Market Analysis | Coherent Market Insights

Read here the market research report on u201cIngestible Smart Pills Marketu201d published by CMI team.

athiranair23
Download Presentation

Ingestible Smart Pills Market Analysis | Coherent Market Insights

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Coherent Market InsightS Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. Ingestible Smart PillsMarket Analysis (2020-2027) • Smart pills are small embedded electronic devices, which include sensors, cameras, patches and trackers. These electronic devices can easily be swallowed and it provides complete evaluation of the gastrointestinal tract. • The global ingestible smart pills market is estimated to account for US$ 1,175.4 Mn in terms of value and is expected to reach US$ 1,734.3 Mn by the end of 2027.

  3. Global Ingestible Smart Pills Market: Drivers • Increasing prevalence of gastrointestinal diseases is expected to propel growth of the global ingestible smart pills market over the forecast period. For instance, according to the study, ‘Worldwide incidence and prevalence of inflammatory bowel disease in the 21st century: a systematic review of population-based studies’, published in the journal Lancet in 2018, the prevalence of Crohn's disease in Germany was 22 per 100,000 and 319 per 100,000 in Canada. • Moreover, several benefits of ingestible smart pills are also expected to aid in growth of the market. For instance, according to a paper in the November 2019 issue of the Journal of Managed Care & Specialty Pharmacy, AdhereTech’s smart pill bottle platform improved adherence and patient satisfaction among a small sample of multiple myeloma patients.

  4. s Statistics: • Smart pills held dominant position in the global ingestible smart pills market in 2019, accounting for 81.7% share in terms of value, followed by workstation, respectively.

  5. Figure 1. Global Ingestible Smart Pills Market Share (%), by Value, by Treatment Type, 2019

  6. Global Ingestible Smart Pills Market: Restraints • Several players in the market are failing to attract investors, which is expected to hinder growth of the global ingestible smart pills market. For instance, in June 2020, Proteus Digital Health, Inc. filed for bankruptcy protection. In 2019, Proteus Digital Health, Inc. faced cash crunch and the company furloughed the majority of its employees for about two weeks in November 2019. • Moreover, high costs involved in R&D of ingestible smart pills is also expected to limit the market growth. The ingestible smart pills market is multidisciplinary and requires domain experts from various disciplines of science such as biochemists, biologists, microbiologists, immunologists, medical scientists and electronic engineers. It requires a consolidated effort between all these varied disciplines to develop sensors for particular applications. Additionally, prolonged R&D timelines with the inclusion of clinical trials required to test these sensor-embedded device adds up to significant expenditure.

  7. Global Ingestible Smart Pills Market: Opportunities  • The Covid-19 outbreak is expected to boost demand for digital medicine, thereby offering lucrative growth opportunities for players in the global ingestible smart pills market. For instance, in May 2020, Proteus Digital Health, Inc. announced a multi-year, outcomes-based initiative with the state of Tennessee’s Medicaid program, TennCare, in order to support TennCare-covered patients undergoing Hepatitis C treatment to achieve a cure through improved medication adherence and stronger connections to their care teams.

  8. Moreover, increasing prevalence of chronic disorders is expected to boost demand for ingestible smart pills market. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S. • The global ingestible smart pills market was valued at US$ 1,111.8 Mn in 2019 and is forecast to reach a value of US$ 1,734.3 Mn by 2027 at a CAGR of 5.7% between 2020 and 2027.

  9. Figure 2. Global Ingestible Smart Pills Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027

  10. Market Trends/Key Takeaways • High prevalence for needle fear is expected to propel growth of the global ingestible smart pills market over the forecast period. For instance, according to the study, ‘The fear of needles: A systematic review and meta-analysis,’ published in the Journal of Advanced Nursing in January 2019, the prevalence for needle fear ranged from 20-50% in adolescents and 20-30% in young adults. • Major players in the global ingestible smart pills market are focused on adopting collaboration and partnership strategies to expand their product portfolio.

  11. s • For instance, in July 2020, HOYA Corporation and Hitachi, Ltd. announced a five year contract regarding Endoscopic Ultrasound Systems by which Hitachi will continue supplying diagnostic ultrasound systems and ultrasound sensor related parts used in Endoscopic Ultrasound Systems.

  12. Global Ingestible Smart Pills Market: Competitive Landscape • Major players operating in the global ingestible smart pills market include, BodyCap Medical, Given Imaging Ltd., Olympus Corporation, Proteus Digital Health, Inc., CapsoVision, Inc., Chongqing Jinshan Science and Component (Group) Co., Ltd., Medimetrics, IntroMedic Co., Ltd., Check-Cap Ltd., Boston Scientific Corporation, HQ Inc., Smart Pill Inc., Medtronic plc, Philips Healthcare, etectRx, Inc., Novartis, Siemens Healthcare, Pentax Medical Company (HOYA Corporation), GE Healthcare, and Stryker Corporation.

  13. Global Ingestible Smart Pills Market: Key Developments • Major players in the global ingestible smart pills market are focused on approval and launch of new products to expand their product portfolio. For instance, in December 2019, etectRx, Inc. received the U.S. Food and Drug Administration (FDA) approval for its breakthrough patented ingestible event marker, the ID-Cap System.

  14. Request sample copy here • Request PDF brochure here • Request Customization here • Talk to Analyst • Buy Now • Reference: • https://www.coherentmarketinsights.com/market-insight/ingestible-smart-pills-market-4091

  15. About Us: • Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. • What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  16. Contact Us: • Mr. Shah • Coherent Market Insights Pvt. Ltd. • Address: 1001 4th ave, #3200 Seattle, WA 98154, U.S. • Phone: +1-206-701-6702 • Email :sales@coherentmarketinsights.com

  17. Thank You! Kindly follow CMI Social Media Profiles for the latest company updates Facebook Linkedin Twitter https://www.coherentmarketinsights.com/

More Related