The Europe Smart Pill Technologies market has been estimated at USD 594 Million in 2016 and is projected to reach USD 1302.31 Million by 2021, at a CAGR of 17.0%
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PR-Inside.com: 2017-12-07 12:58:07
Smart pill technology is used to diagnose gastrointestinal disorders such as gastroparesis and constipation. The primary function of the system includes medication recording for the patient, with information pertaining to various parameters such as pressure, temperature and pH of gastrointestinal facts. The technology is expected to improve outcomes and workflow and decrease hospital readmissions.
The market for Smart Pill Technologies is mainly driven due to increased prevalence of gastrointestinal diseases, sedentary lifestyle and high patient compliance on account of minimally invasive techniques. The advent of novel technologies such as catheter-less pH monitoring, ingestible sensors and wireless capsule based GI monitoring would raise an accelerated market growth. But, the market growth can be restrained due to possible health risks associated with a smart pill inserted into the body, privacy issues and ethical concerns.
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Europe market for Smart Pill Technologies is segmented based on Application. By Application, the market is further sub-segmented into Capsule Endoscopy, Drug Delivery, Patient monitoring. Capsule Endoscopy segment is further sub-segmented into Small Bowel Video Capsule Endoscopy, Colon Capsule Endoscopy, OMOM Capsule Endoscopy Platform, MiroCam, Upgraded MiroCam and Advanced Capsule Endoscope, The ANKON MCE System and CapsoCam. Capsule endoscopy segment is expected to be one of the largest markets owing to the advantages attached such as disease diagnosis in small intestine. Drug delivery market is also expected to experience growth due to the benefit of improving medication efficiencies, improving patient compliance & convenience, and fast paced technology.
Geographically, Europe market for Smart Pill Technologies is segmented into Germany, U.K., Spain, France and Italy. Europe is the second biggest market in terms of market share across the globe. The market in Europe is highly driven due to advanced healthcare infrastructure, increasing awareness about GI diseases among patient and physician, high adoption of technological developments, growing geriatric population which is creating wide range of opportunities for market players.
CapsoVision, Inc., Given Imaging, Inc., Medimetrics S.A. de C.V., Olympus Corporation, Bio-Images Research Limited, Novartis, Given Imaging Ltd, Philips Healthcare, Smartpill, Inc., Medtronic, Inc., Pentax Medical Company, Siemens Healthcare, Stryker Corporation, GE Healthcare, Boston Scientific Corporation, IntroMedic Inc., Chongqing Jinshan Science & Technology Group Co. Ltd., Proteus Digital Health Inc., are the major players of Europe Smart Pill Technologies market.
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