Smart pills are small capsule-sized ingestible medical devices. Smart pills are used for diagnosis, treatment, and drug delivery. The growing geriatric population and with-it increasing diseases like paralysis are responsible for increasing demand for on-site diagnosis, increasing cases of chronic diseases like diabetes, cancer, and others, and rising prevalence of lifestyle disorders such as obesity, gastroesophageal reflux disease (GERD), and gastric ulcers are expected to drive the growth of the market.
Some of the key players in the global smart pills market are FUJIFILM Holdings Corporation, INTROMEDIC, Olympus Corporation, Proteus Digital Health, Inc., RF Co., Ltd., Check-Cap, JINSHAN Science & Technology, MEDTRONIC, MEDISAFE, BDD Limited, PENTAX Medical, and CapsoVision, Inc.
The global smart pills market has been segmented on the basis of application, target area, disease indication, and end-user.
The application segment has been segregated on the basis of capsule endoscopy, drug delivery, patient monitoring, and others. Capsule endoscopy segment has been classified into small bowel capsule endoscopy, controllable capsule endoscopy, colon capsule endoscopy, and others. capsule pH monitoring and other applications can be covered under patient monitoring segment.
On the basis of the target area, the market has been classified as esophagus, small intestine, large intestine, and stomach.
The market, by disease indication, has been segmented into esophageal diseases, small bowel diseases, colon diseases, and others.
The end-user segment is divided into hospitals, diagnostic center, and research institute.
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The American market is expected to dominate the global smart pills market during the forecast period due to the increase in chronic disorders, adoption of advanced technology in healthcare, and favorable reimbursement and regulatory authorities.
The European market is expected to be the second-largest due to increasing number of lifestyle related diseases like obesity, gastroesophageal reflux disease (GERD), and gastric ulcers and increasing healthcare expenditure.