Seattle, WA -- (SBWIRE) -- 09/19/2019 -- Smart pills can be used to monitor the drug adherence, temperature and some other parameters in the patients. Smart pills are ingestible medical devices that can be taken orally to examine the gastrointestinal tract (GI).The advanced technology of smart pills helps in monitoring of patients, disease diagnosis, and help to improve the drug delivery. This might help physicians to monitor the patient's conditions, and to check the timely routine of patient's medication. The smart pills may alert about the expiry date of medicines, drug completion course and prevent from adverse events. These are expected to replace conventional diagnostic techniques such as endoscopy and colonoscopy. The need for convenient, and accurate treatment strategies has generated the interest in the research of smart pills.
Increasing prevalence of gastro-intestinal diseases is expected to boost the market growth
People above 65 years of age are more vulnerable to Inflammatory Bowel Disease (IBD). Therefore, increasing prevalence of IBD in geriatric population is expected to lead to high demand for smart pills. Elderly people often forget or may take the wrong medication. For instance, according to World Health Organization (WHO), 50% of people forget to take pills or take wrong medication, which may have adverse effects on health. The novel smart pills technology has a potential to efficiently address this situation. Moreover, according to the Centers for Disease Control and Prevention (CDC), around 1 million people suffered from IBD in the U.S. in 2015. Such increase in the incidences of gastrointestinal diseases can be attributed to unhealthy or changing lifestyle, low fiber intake, food intolerance, allergies, and stress. Conventional approaches fail to offer accurate results in the treatment of these diseases. This in turn increases the demand for precise diagnosis and monitoring of diseases, which is expected to boost demand for smart pills.
Though the adaptability in the patients and to customize the product according to consumer needs will be some of the causes which might slowdown the smart pills market.
The global smart pills market is segmented on the basis of applications, disease indication and geography
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On the basis of application
- Capsule Endoscopy
- Small-bowl Video Capsule Endoscopy
- Colon Capsule Endoscopy
- OMOM Capsule Endoscopy
Small Bowel Capsule Endoscopy
Controllable Capsule Endoscopy
Storable Capsule Endoscope
Colon Capsule Endoscope
pH Capsule Wireless Monitoring System
Impedance-pH Monitoring System
- Upgraded MiroCam
- Advanced Capsule Endoscope
On the basis of disease indications
- Occult GI Bleeding
- Crohn's Disease
- Small Bowel Tumors
- Celiac Disease
- Inherited Polyposis Syndromes
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Increasing health awareness and early adoption to novel technologies is propelling growth of the smart pills market in Europe
On the basis of region, the smart pills market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is expected to hold dominant position in the market over the forecast period. This is owing to factors such as early adoption of smart pill technology in the region, adoption of novel marketing and commercialization strategies by major market players, and increasing prevalence of lifestyle diseases in the region. Europe is also expected to witness significant growth in the market. The market in Asia Pacific is expected to witness substantial growth, owing to increasing health awareness, training in endoscope handling, and increasing prevalence of colon cancer and intestinal infections. Moreover, increasing investments in research and development in Japan and other Asia Pacific countries is also expected to boost the market growth in the region.
The development of novel technologies and partnership between companies helping to boost growth in the smart pills market
The key players operating the smart pills market globally are Boston Scientific Corporation, Olympus Medical Technology, Smart Pill Inc, Medtronic, Philips Healthcare, Given Imaging Ltd and Novartis, Siemens Healthcare, Pentax Medical Company, GE Healthcare, Stryker Corporation.
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