Dublin, Sept. 20, 2022 (GLOBE NEWSWIRE) -- The "North America Smart Pills Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application, Disease Indication, and End User" report has been added to ResearchAndMarkets.com's offering.
The North America smart pills market is expected to reach US$ 5,300.85 million by 2028 from US$ 2,314.71 million in 2021. The market is estimated to grow at a CAGR of 12.6% from 2021 to 2028.
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.
Market Dynamics
Market Drivers
- Rising Demand for Minimally Invasive Surgical Procedures
- Increase in Strategic Collaborations & Partnerships On Smart Pills
Market Restraints
- High Cost of Smart Pill
- Market Opportunities
- Increasing Demand for Drug Delivery System
Future Trends
- Remote Patient Monitoring Through Smart Pills
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.
Key Topics Covered:
1. Introduction
2. North America Smart Pills Market - Key Takeaways
3. Research Methodology
4. North America Smart Pills Market - Market Landscape
5. North America Smart Pills Market - Key Market Dynamics
6. North America Smart Pills Market -Country Analysis
7. North America Smart Pills Market Analysis - By Application
8. North America Smart Pills Market Revenue and Forecasts To 2028 - Disease Indication
9. North America Smart Pills Market Revenue and Forecasts To 2028 - End User
10. North America Smart Pills Market - Regional Analysis
11. North America Smart Pills Market-Industry Landscape
12. Company Profiles
13. Appendix
Companies Mentioned
- Capso Vision, Inc.
- Medtronic
- Check-Cap
- PENTAX Medical
- Olympus Corporation
- Otsuka Holdings Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/p5fa98
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