Global Smart Pills Market: Overview
Smart pill is an ingestible pill that procedures force, temperature, and pH as it moves through the gastrointestinal area to charge gastrointestinal motility. Smart pill gets rid of radiation disclosure and is the only motility analysis that offers an entire transfer profile of the gastrointestinal area.
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Global Smart Pills Market: Growth Factors
Favorable reimbursement scenario across the globe is the significant reason that is propelling the growth of the global market. Further, the prevalence of gastrointestinal disorders is also fueling the global smart pills market growth. Additionally, factors such as controlled drug delivery increased sophistication in endoscopy procedures, and remote patient monitoring offered by smart pills are one of the significant factors fueling the growth of the global smart pills market. Adding more to the list, technological advancements are powering the growth of the global market. In addition to this, rising occurrence of colon cancer is also escalating the growth of the global market. Further, advantages provided by the smart pills technology are also fueling the global smart pills market growth. Adding more to the list, rising demand of smart pills from the industry is powering the growth of the global market. Additionally, patient fondness for minimally invasive procedures is one of the significant reasons fueling the growth of the global smart pills market.
On the other hand, the technological ineffectiveness of pill endoscopes is the main reason that restrains the growth of the global market. Moreover, high costs also hinder the growth of global smart pills market. Further, panic among patients concerning gulping down a microchip is hampering the global market. Moving further, poor adaptation of technology is also the main factor that restrains the global smart pills market
Global Smart Pills Market: Segmentation
On the basis of applications, the global smart pills market is mainly classified as patient monitoring, drug delivery, capsule endoscopy, and others. The capsule endoscopy sub-segment is further divided based on the application as abdominal pain, unexplained bleeding, ulcers, iron deficiency, polyps & tumors of a small intestine.
Based on geography, the global market is bifurcated into North America, the Middle East and Africa, Asia-Pacific, and Europe.
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Global Smart Pills Market: Regional Analysis
Favorable reimbursement scenario has elevated the global market in North America. Also, the prevalence of gastrointestinal disorders is escalating the global market specifically in the U.S. Factors such as controlled drug delivery, increased sophistication in endoscopy procedures, and remote patient monitoring offered by smart pills are boosting the global market in India, China, and Japan. Technological advancements have elevated the global market mainly in other parts of Asia Pacific. Also, rising prevalence of colon cancer is also escalating the global market in Germany. Reduction in the energy consumption has fueled the global market in the Europe. Also, patient preference for minimally invasive procedures is propelling the global market in the Middle East and Africa.
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Global Smart Pills Market: Competitive Players
Some of the key players in the global market for smart pills are Olympus Medical Technology, Boston Scientific Corporation, Siemens Healthcare, Smart pill Inc, Medtronic Inc, Pentax Medical Company, Philips Healthcare, Philips Healthcare, Novartis, Given Imaging Ltd, Stryker Corporation, and GE Healthcare.
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