Smart pills have emerged as revolutionary technological innovation, which links healthcare with digital technology. The introduction of smart pills has shown a promising response. The key application of smart pills is patient monitoring that includes monitoring of parameters such as pH, temperature, pressure and drug adherence in patients. According to the World Health Organization (WHO)estimate, over 50% of us fail to take medicines correctly, while over 50% of drugs are prescribed or sold inappropriately. This leads to disastrous consequences, resulting in significant complications and deterioration of patient health. To overcome this several pharmaceutical companies have developed smart pill having an ingestible sensor.

The Smart Pills Patient Monitoring Market is expected to grow at a steady rate of around 12% during the forecast period (2022-2028). The tremendous growth of the market is due to the rising patient pool globally and the associated surge in the demand to monitor patients. The introduction of smart pills have enabled the effective monitoring of patients’ vitals as per the requirement of the disease. Apart from this, the growing adoption of oral drugs in comparison to surgery and other invasive methods is also projected to propel the market growth during the forecast period. Furthermore, the increase in medical research and development activities aiming to develop novel therapies, along with the growing investment is also expected to drive market growth. For instance, according to the World Bank Data, 2.204% of the global GDP was spent for R&D activities in 2018.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=35025

According to UnivDatos Market Insights (UMI)’ research report “Global Smart Pills Patient Monitoring Market”, the market is expected to witness robust growth during the forecast period (2022-2028) owing to rise in technological advancements and an increase in consumer preference in healthcare sector. The companies are also introducing novel products in the market, which is also propelling segmental growth. For instance, in 2017, U.S. FDA granted approval to Abilify MyCite (aripiprazole tablets with sensor) developed by Ostuka Pharmaceutical. It has an ingestible sensor embedded in the pill that records that the medication was taken. 

Based on target area, the market is segmented into small intestine, esophagus, large intestine, and stomach. The small intestine segment held a considerable share in the market in 2020. The smart pills help in tracking the food movement through the digestive tract. Moreover, continuous research and development is also propelling segmental growth during the forecast period. For instance, in December 2022, researchers at UC San Diego designed a battery-free, pill-shaped ingestible biosensing system designed to provide continuous monitoring in the intestinal environment. The pill aids in-situ access to the small intestine, thus making glucose monitoring easier while generating continuous results.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=35025

Based on the end-user, the smart pills patient monitoring market is segmented into hospitals, specialty clinics, surgical centers, and others. The specialty clinics segment is expected to grow with high CAGR during the forecast period. Specialty clinics are emerging out of the general hospitals as a universal trend. The ever-increasing demand for healthcare services has opened up significant scope for new opportunities in delivering affordable healthcare services to the rural and semi-urban populations of the world. This, coupled with the rising number of diseases, makes it essential for healthcare players to strive to increase the ease of availability of healthcare services. The above-mentioned factors are driving the segmental growth during the forecast period.

APAC to witness extensive growth

For a better understanding of the market adoption of the smart pills patient monitoring industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. Growing demand for minimally invasive treatments with early detection of medical issues, technological advancement and innovation of new products such as bioelectronics, micro-cameras, miniaturisation, and others will boost market growth. Growing geriatric population and increasing prevalence of chronic diseases such as diabetes, cancer, obesity, gastroesophageal reflux diseases, gastric ulcers, and others. Additionally, expanding R&D initiatives for the creation of powerful smart medicines will open up lucrative market potential in the coming years.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the smart pills patient monitoring market are Medtronic PLC; Otsuka Pharmaceutical Co., Ltd.; Novartis AG; CapsoVision, Inc.; FUJIFILM Corporation; BMedical Pty Ltd; PENTAX Medical; INTROMEDIC; Boston Scientific Corporation; and General Electric Company.

“Global Smart Pills Patient Monitoring Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.       

Market Segmentation:

1.     By Target Area (Small Intestine, Esophagus, Large Intestine, And Stomach)

2.     By End User (Hospitals, Specialty Clinics, Surgical Centers, And Others)

3.     By Region (North America, Europe, Asia-Pacific, Rest of the World)

4.     By Company (Medtronic PLC; Otsuka Pharmaceutical Co., Ltd.; Novartis AG; CapsoVision, Inc.; FUJIFILM Corporation; BMedical Pty Ltd; PENTAX Medical; INTROMEDIC; Boston Scientific Corporation; and General Electric Company)

Key questions answered in the study:

1.     What are the current and future trends of the global smart pills patient monitoring industry?

2.     How the industry has been evolving in terms of the target area, and end-user?

3.     How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.     What are the key growth drivers and challenges for the global smart pills patient monitoring industry?

5.     What is the customer orientation, purchase behavior, and expectations from the global smart pills patient monitoring suppliers across various region and countries?

Table of Content:-

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY 4.   EXECUTIVE SUMMARY

5 IMPACT OF COVID-19 ON THE SMART PILLS PATIENT MONITORING MARKET

6 SMART PILLS PATIENT MONITORING MARKET REVENUE (USD BN), 2020-2028F

7 MARKET INSIGHTS BY TARGET AREA

8 MARKET INSIGHTS BY END USER

9 MARKET INSIGHTS BY REGION

10 SMART PILLS PATIENT MONITORING MARKET DYNAMICS

11 SMART PILLS PATIENT MONITORING MARKET OPPORTUNITIES

12 SMART PILLS PATIENT MONITORING MARKET TRENDS

13 DEMAND AND SUPPLY-SIDE ANALYSIS

14 VALUE CHAIN ANALYSIS

15 COMPETITIVE SCENARIO

16 COMPANY PROFILED

17 DISCLAIMER