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Smart Pills Market by Application (Capsule Endoscopy, Patient Monitoring, and Drug Delivery), Target Area (Stomach, Esophagus, Small Intestine, and Large Intestine), Disease Indication (Esophageal Diseases, Small bowel Diseases, Colon Diseases, and Others), and End User (Hospital, Diagnostic Center, and Research Center): Global Opportunity Analysis and Industry Forecast, 2018 - 2025

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LI_181138
Pages: 228
Sep 2018 | 1534 Views
 
Author's : Kavita Joshi, Tanvi Sapatnekar & Onkar Sumant
Tables: 146
Charts: 48
 

Smart Pills Market Overview:

Smart pills are capsule-sized ingestible medical devices consisting of elements such as sensors, cameras, patches, and trackers that help in better diagnostics, patient monitoring, as well as targeted drug delivery. They are majorly available in the form of a vitamin capsule sized pill and possess small wearable sensor patch, an application on a mobile device, and a provider portal. Once swallowed, it gets activated in the gut; the sensors provide information about patient’s health parameters and the effectiveness of medication treatment leading to more informed healthcare decisions and optimized therapies. Moreover, smart pills have revolutionized the field of gastrointestinal diagnosis. Smart pills, being non-invasive can be a potent alternative approach against invasive procedures such as gastrointestinal endoscopy/colonoscopy. The global smart pills market was valued at $257 million in 2017, and is expected to reach $650 million by 2025, registering a CAGR of 12.1% from 2018 to 2025.

Smart Pills Market
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A considerable increase in geriatric population, rise in chronic disorders such as cancer, diabetes, and others, and surge in prevalence of lifestyle-related disorders, such as obesity, gastroesophageal reflux disease (GERD), gastric ulcers, and others majorly drive the growth of the smart pills market. In addition, increased R&D investments in developing smart pills further boost the market growth. However, stringent government regulations regarding the increased use of these devices and high cost associated with the ingestible sensors are the factors anticipated to restrain the growth of the market. Furthermore, rise in technological advances pertaining to smart pills such as bioelectronics, availability of microprocessors, micro-cameras, miniaturization, and others are predicted to offer lucrative opportunities in future.

Smart Pills Market By Application

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Application segment review

Based on application, the smart pills market is bifurcated into capsule endoscopy, drug delivery, and patient monitoring. The capsule endoscopy application segment was the highest contributor to the market, in 2017, and is anticipated to maintain its dominance throughout the forecast period. This is attributed to the increase in preferences toward non-invasive diagnostic procedures and the significant increase in gastrointestinal disorders across the globe.

Smart Pills Market By Target Area

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Target Area segment review

Based on the target area, the smart pills market is classified into the esophagus, small intestine, large intestine, and stomach. The small intestine target area accounted for the highest revenue in 2017 and is expected to maintain its dominance throughout the forecast period. This is attributed to the significant increase in small intestinal disorders such as Crohn’s disease, celiac disease, and small bowel tumors.

Smart Pills Market By Region

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Geography segment review

Based on region, the smart pill market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market in 2017, accounting for highest share, and is anticipated to maintain this trend throughout the forecast period. However, Asia-Pacific is projected to register the highest growth rate from 2018 to 2025. 

The report provides a comprehensive analysis of the leading companies operating in the global market such as Proteus Digital Health, HQ, Inc., CapsoVision, Inc., Medtronic Plc., Olympus Corporations, IntroMedic Co., Ltd, RF Co., Ltd, JINSHAN Science & Technology, Check-Cap, and Koninklijke Philips N.V. The other key players in the value chain (not included in the report) include GE Healthcare, NOVARTIS AG, Fujifilm Holdings Corporation, Bio-Images Drug Delivery (BDD) Limited, Quotient Clinical Ltd., Innovative Devices LLC, and PENTAX Medical

Key Benefits for the Smart Pills Market:

  • The study provides an in-depth analysis of the smart pills market with the current trends and future estimations to elucidate the imminent investment pockets.

  • Comprehensive analysis of the factors that drive and restrict the market growth is provided.

  • Comprehensive quantitative analysis of the industry is provided from 2018 to 2025 to assist stakeholders to capitalize on the prevailing market opportunities.

  • Extensive analysis of the key segments of the industry helps to understand the trends in smart pills market globally.

  • Key players and their strategies are provided to understand the competitive outlook of the industry.

Smart Pills Market Key Segments

By Application

  • Capsule Endoscopy
  • Drug Delivery
  • Patient Monitoring

By Target Area

  • Esophagus
  • Small Intestine
  • Large Intestine
  • Stomach

By Disease Indication

  • Esophageal Diseases
  • Small Bowel Diseases 
  • Colon Diseases
  • Others

By End User

  • Hospital
  • Diagnostic Center
  • Research Institute

By Region

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • UK
    • France
    • Germany
    • Italy
    • France
    • Russia
    • Rest of Europe
  • Asia-Pacific

    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Australia
    • Rest of Asia-Pacific
  • LAMEA 

    • Saudi Arabia
    • South Africa
    • Brazil
    • Argentina
    • Rest of LAMEA
 

Chapter: 1:    INTRODUCTION

1.1.    Report description
1.2.    Key benefits for stakeholders
1.3.    Key market segments
1.4.    Research methodology

1.4.1.    Secondary research
1.4.2.    Primary research
1.4.3.    Analyst tools & models

Chapter: 2:    EXECUTIVE SUMMARY

2.1.    CXO perspective

Chapter: 3:    MARKET OVERVIEW

3.1.    Market definition and scope
3.2.    Key findings

3.2.1.    Top investment pockets
3.2.2.    Top Winning Strategies

3.3.    Porter’s Five Forces analysis
3.4.    Market share analysis
3.5.    Market dynamics

3.5.1.    Drivers

3.5.1.1.    Less complex and painful diagnostic examinations

3.5.1.2.    Rise in prevalence of gastrointestinal disorders
3.5.1.3.    Increase in the R&D investments in developing smart pills by manufacturers

3.5.2.    Restraints

3.5.2.1.    Lengthy timelines regarding approval of smart pills
3.5.2.2.    Higher costs associated with the smart pills

3.5.3.    Opportunity

3.5.3.1.    Increase in the technological advancements pertaining to smart pills

Chapter: 4:    SMART PILLS MARKET, BY APPLICATION

4.1.    Overview

4.1.1.    Market size and forecast

4.2.    Capsule Endoscopy

4.2.1.    Key trends and opportunities
4.2.2.    Market size and forecast

4.3.    Drug Delivery

4.3.1.    Key trends and opportunities
4.3.2.    Market size and forecast

4.4.    Patient Monitoring

4.4.1.    Key trends and opportunities
4.4.2.    Market size and forecast

Chapter: 5:    SMART PILLS MARKET, BY TARGET AREA

5.1.    Overview

5.1.1.    Market size and forecast

5.2.    Esophagus

5.2.1.    Market size and forecast

5.3.    Stomach

5.3.1.    Market size and forecast

5.4.    Small Intestine

5.4.1.    Market size and forecast

5.5.    Large Intestine

5.5.1.    Market size and forecast

Chapter: 6:    SMART PILLS MARKET, BY DISEASE INDICATION

6.1.    Overview

6.1.1.    Market size and forecast

6.2.    Esophagus Diseases

6.2.1.    Market size and forecast

6.3.    Small Bowel Disease

6.3.1.    Market size and forecast
6.3.2.    Crohn’s Disease

6.3.2.1.    Market size and forecast

6.3.3.    Small bowel tumors

6.3.3.1.    Market size and forecast

6.3.4.    Celiac disease

6.3.4.1.    Market size and forecast

6.3.5.    Others

6.3.5.1.    Market size and forecast

6.4.    Colon Diseases

6.4.1.    Market size and forecast

6.5.    Others

6.5.1.1.    Market size and forecast

Chapter: 7:    SMART PILLS MARKET, BY END USER

7.1.    Overview

7.1.1.    Market size and forecast

7.2.    Diagnostic Centers

7.2.1.    Market size and forecast

7.3.    Hospitals

7.3.1.    Market size and forecast

7.4.    Research Institutes

7.4.1.    Market size and forecast

Chapter: 8:    SMART PILLS MARKET, BY REGION

8.1.    Overview

8.1.1.    Market size and forecast

8.2.    North America

8.2.1.    Key trends and opportunities

8.2.2.    North America market size & forecast, by country
8.2.3.    North America market size & forecast, by application
8.2.4.    North America market size & forecast, by target area
8.2.5.    North America market size & forecast, by disease indication
8.2.6.    North America market size & forecast, by end user

8.2.6.1.    U.S. market size & forecast
8.2.6.2.    Canada market size & forecast
8.2.6.3.    Mexico market size & forecast

8.3.    Europe

8.3.1.    Key trends and opportunities
8.3.2.    Europe market size & forecast for smart pills market, by country
8.3.3.    Europe market size & forecast, by application
8.3.4.    Europe market size & forecast, by target area
8.3.5.    Europe market size & forecast, by disease indication
8.3.6.    Europe market size & forecast, by end user

8.3.6.1.    Germany market size & forecast
8.3.6.2.    France market size & forecast
8.3.6.3.    UK market size & forecast
8.3.6.4.    Italy market size & forecast
8.3.6.5.    Spain market size & forecast
8.3.6.6.    Russia market size & forecast
8.3.6.7.    Rest of Europe market size & forecast

8.4.    Asia-Pacific

8.4.1.    Key trends and opportunities
8.4.2.    Asia-Pacific market size & forecast, by country
8.4.3.    Asia-Pacific market size & forecast, by application
8.4.4.    Asia-Pacific market size & forecast, by target area
8.4.5.    Asia-Pacific market size & forecast, by disease indication
8.4.6.    Asia-Pacific market size & forecast, by end user

8.4.6.1.    Japan market size & forecast
8.4.6.2.    China market size & forecast
8.4.6.3.    India market size & forecast
8.4.6.4.    Australia market size & forecast
8.4.6.5.    South Korea market size & forecast
8.4.6.6.    Taiwan market size & forecast
8.4.6.7.    Rest of Asia-Pacific market size & forecast

8.5.    LAMEA

8.5.1.    Key trends and opportunities
8.5.2.    LAMEA market size & forecast, by country
8.5.3.    LAMEA market size & forecast, by application
8.5.4.    LAMEA market size & forecast, by target area
8.5.5.    LAMEA market size & forecast, by disease indication
8.5.6.    LAMEA market size & forecast, by end user

8.5.6.1.    Brazil market size & forecast
8.5.6.2.    South Africa market size & forecast
8.5.6.3.    Saudi Arabia market size & forecast
8.5.6.4.    Argentina market size & forecast
8.5.6.5.    Rest of LAMEA market size & forecast

Chapter: 9:    COMPANY PROFILES

9.1.    CapsoVision, Inc.

9.1.1.    Company overview
9.1.2.    Company snapshot
9.1.3.    Operating business segments
9.1.4.    Product portfolio
9.1.5.    Key strategic moves and developments

9.2.    Check-Cap Ltd.

9.2.1.    Company overview
9.2.2.    Company snapshot
9.2.3.    Operating business segments
9.2.4.    Product portfolio

9.3.    HQ.Inc.

9.3.1.    Company overview
9.3.2.    Company snapshot
9.3.3.    Operating business segments
9.3.4.    Product portfolio

9.4.    IntroMedic Co., Ltd

9.4.1.    Company overview
9.4.2.    Company snapshot
9.4.3.    Operating business segments
9.4.4.    Product portfolio
9.4.5.    Business performance
9.4.6.    Key strategic moves and developments

9.5.    JINSHAN Science & Technology

9.5.1.    Company overview
9.5.2.    Company snapshot
9.5.3.    Operating business segments
9.5.4.    Product portfolio
9.5.5.    Key strategic moves and developments

9.6.    Koninklijke Philips N.V.

9.6.1.    Company overview
9.6.2.    Company snapshot
9.6.3.    Operating business segments
9.6.4.    Product portfolio
9.6.5.    Business performance

9.7.    Medtronic plc

9.7.1.    Company overview
9.7.2.    Company snapshot
9.7.3.    Operating business segments
9.7.4.    Product portfolio
9.7.5.    Business performance
9.7.6.    Key strategic moves and developments

9.8.    OLYMPUS Corporation.

9.8.1.    Company overview
9.8.2.    Company snapshot
9.8.3.    Operating business segments
9.8.4.    Product portfolio
9.8.5.    Business performance

9.9.    Proteus Digital Health

9.9.1.    Company overview
9.9.2.    Company snapshot
9.9.3.    Operating business segments
9.9.4.    Product portfolio
9.9.5.    Key strategic moves and developments

9.10.    RF Co., Ltd.

9.10.1.    Company overview
9.10.2.    Company snapshot
9.10.3.    Operating business segments
9.10.4.    Product portfolio

LIST OF TABLES

TABLE 01.    GLOBAL SMART PILLS MARKET, BY APPLICATION 2017–2025 ($MILLION)
TABLE 02.    CAPSULE ENDOSCOPE AVAILABLE IN THE MARKET
TABLE 03.    GLOBAL SMART PILLS MARKET FOR CAPSULE ENDOSCOPY, BY REGION, 2017–2025 ($MILLION)
TABLE 04.    SMART CAPSULE FOR DRUG DELIVERY AVAILABLE IN THE MARKET
TABLE 05.    SMART PILLS MARKET FOR DRUG DELIVERY, BY REGION, 2017–2025 ($MILLION)
TABLE 06.    SMART PILLS FOR PATIENT MONITORING AVAILABLE IN THE MARKET
TABLE 07.    SMART PILLS MARKET FOR PATIENT MONITORING, BY REGION, 2017–2025 ($MILLION)
TABLE 08.    GLOBAL SMART PILLS MARKET, BY TARGET AREA, 2017–2025 ($MILLION)
TABLE 09.    SMART PILLS MARKET, FOR ESOPHAGUS, BY REGION, 2017–2025 ($MILLION)
TABLE 10.    SMART PILLS MARKET, FOR STOMACH, BY REGION, 2017–2025 ($MILLION)
TABLE 11.    SMART PILLS MARKET, FOR SMALL INTESTINE, BY REGION, 2017–2025 ($MILLION)
TABLE 12.    GLOBAL SMART PILLS MARKET, FOR LARGE INTESTINE, BY REGION, 2017–2025 ($MILLION)
TABLE 13.    GLOBAL SMART PILLS MARKET, BY DISEASE INDICATION, 2017–2025 ($MILLION)
TABLE 14.    GLOBAL SMART PILLS MARKET, FOR ESOPHAGUS DISEASES, BY REGION, 2017–2025 ($MILLION)
TABLE 15.    GLOBAL SMART PILL MARKET, FOR SMALL BOWEL DISEASES, BY REGION, 2017–2025 ($MILLION)
TABLE 16.    GLOBAL SMART PILL MARKET, FOR COLON DISEASES, BY REGION, 2017–2025 ($MILLION)
TABLE 17.    GLOBAL SMART PILLS MARKET, BY END USER, 2017–2025 ($MILLION)
TABLE 18.    GLOBAL SMART PILLS MARKET FOR DIAGNOSTIC CENTRES, BY REGION, 2017–2025 ($MILLION)
TABLE 19.    GLOBAL SMART PILLS MARKET FOR HOSPITALS, BY REGION, 2017–2025 ($MILLION)
TABLE 20.    GLOBAL SMART PILLS MARKET FOR RESEARCH INSTITUTES, BY REGION, 2017–2025 ($MILLION)
TABLE 21.    GLOBAL SMART PILLS MARKET, BY REGION, 2017–2025 ($MILLION)
TABLE 22.    NORTH AMERICA SMART PILLS MARKET, BY COUNTRY, 2017–2025 ($MILLION)
TABLE 23.    NORTH AMERICA SMART PILLS MARKET, BY APPLICATION, 2017–2025 ($MILLION)
TABLE 24.    NORTH AMERICA SMART PILLS MARKET, BY TARGET AREA, 2017–2025 ($MILLION)
TABLE 25.    NORTH AMERICA SMART PILLS MARKET, BY DISEASE INDICATION, 2017–2025 ($MILLION)
TABLE 26.    NORTH AMERICA SMART PILLS MARKET, BY END USER, 2017–2025 ($MILLION)
TABLE 27.    EUROPE SMART PILLS MARKET, BY COUNTRY, 2017–2025 ($MILLION)
TABLE 28.    EUROPE SMART PILLS MARKET, BY APPLICATION, 2017–2025 ($MILLION)
TABLE 29.    EUROPE SMART PILLS MARKET, BY TARGET AREA, 2017–2025 ($MILLION)
TABLE 30.    EUROPE SMART PILLS MARKET, BY DISEASE INDICATION, 2017–2025 ($MILLION)
TABLE 31.    EUROPE SMART PILLS MARKET, BY END USER, 2017–2025 ($MILLION)
TABLE 32.    ASIA-PACIFIC SMART PILLS MARKET, BY COUNTRY, 2017–2025 ($MILLION)
TABLE 33.    ASIA-PACIFIC SMART PILLS MARKET, BY APPLICATION, 2017–2025 ($MILLION)
TABLE 34.    ASIA-PACIFIC SMART PILLS MARKET, BY TARGET AREA, 2017–2025 ($MILLION)
TABLE 35.    ASIA-PACIFIC SMART PILLS MARKET, BY DISEASE INDICATION, 2017–2025 ($MILLION)
TABLE 36.    ASIA-PACIFIC SMART PILLS MARKET, BY END USER, 2017–2025 ($MILLION)
TABLE 37.    LAMEA SMART PILLS MARKET, BY COUNTRY, 2017–2025 ($MILLION)
TABLE 38.    LAMEA SMART PILLS MARKET, BY APPLICATION, 2017–2025 ($MILLION)
TABLE 39.    LAMEA SMART PILLS MARKET, BY TARGET AREA, 2017–2025 ($MILLION)
TABLE 40.    LAMEA SMART PILLS MARKET, BY DISEASE INDICATION, 2017–2025 ($MILLION)
TABLE 41.    LAMEA SMART PILLS MARKET, BY END USER, 2017–2025 ($MILLION)
TABLE 42.    CAPSOVISION: COMPANY SNAPSHOT
TABLE 43.    CAPSOVISION: OPERATING SEGMENTS
TABLE 44.    CAPSOVISION: PRODUCT PORTFOLIO
TABLE 45.    CHECK- CAP: COMPANY SNAPSHOT
TABLE 46.    CHECK-CAP OPERATING SEGMENTS
TABLE 47.    CHECK-CAP PRODUCT PORTFOLIO
TABLE 48.    HQ. COMPANY SNAPSHOT
TABLE 49.    HQ.: OPERATING SEGMENTS
TABLE 50.    HQ.: PRODUCT PORTFOLIO
TABLE 51.    INTROMEDIC: COMPANY SNAPSHOT
TABLE 52.    INTROMEDIC: PRODUCT PORTFOLIO
TABLE 53.    JINSHAN: COMPANY SNAPSHOT
TABLE 54.    JINSHAN: PRODUCT SEGMENTS
TABLE 55.    JINSHAN: PRODUCT PORTFOLIO
TABLE 56.    PHILIPS: COMPANY SNAPSHOT
TABLE 57.    PHILIPS: OPERATING SEGMENTS
TABLE 58.    PHILIPS: PRODUCT PORTFOLIO
TABLE 59.    MEDTRONIC: COMPANY SNAPSHOT
TABLE 60.    MEDTRONIC: OPERATING SEGMENTS
TABLE 61.    MEDTRONIC: PRODUCT PORTFOLIO
TABLE 62.    OLYMPUS: COMPANY SNAPSHOT
TABLE 63.    OLYMPUS: OPERATING SEGMENTS
TABLE 64.    OLYMPUS: PRODUCT PORTFOLIO
TABLE 65.    PROTEUS: COMPANY SNAPSHOT
TABLE 66.    PROTEUS: OPERATING SEGMENTS
TABLE 67.    PROTEUS: PRODUCT PORTFOLIO
TABLE 68.    RF CO., LTD: COMPANY SNAPSHOT
TABLE 69.    RF : PRODUCT SEGMENTS
TABLE 70.    RF CO.: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 01.    SMART PILLS MARKET SEGMENTATION
FIGURE 02.    TOP INVESTMENT POCKETS IN SMART PILLS MARKET, 2017
FIGURE 03.    TOP WINNING STRATEGIES, BY YEAR, 2016-2018*
FIGURE 04.    TOP WINNING STRATEGIES, BY DEVELOPMENT, 2016-2018* (%)
FIGURE 05.    TOP WINNING STRATEGIES, BY COMPANY, 2016-2018*
FIGURE 06.    HIGH BARGAINING POWER OF SUPPLIERS
FIGURE 07.    MODERATE BARGAINING POWER OF BUYERS
FIGURE 08.    LOW THREAT OF SUBSTITUTION
FIGURE 09.    HIGH THREAT OF NEW ENTRANT
FIGURE 10.    LOW COMPETITIVE RIVALRY
FIGURE 11.    MARKET SHARE ANALYSIS, 2017
FIGURE 12.    GLOBAL SMART PILLS MARKET: RESTRAINTS, DRIVERS, AND OPPORTUNITY
FIGURE 13.    GLOBAL SMART PILLS MARKET FOR CROHN’S DISEASE, 2017–2025 ($MILLION)
FIGURE 14.    GLOBAL SMART PILLS MARKET FOR SMALL BOWEL TUMORS, 2017–2025 ($MILLION)
FIGURE 15.    GLOBAL SMART PILLS MARKET FOR CELIAC DISEASE, 2017–2025 ($MILLION)
FIGURE 16.    GLOBAL SMART PILLS MARKET FOR CELIAC DISEASE, 2017–2025 ($MILLION)
FIGURE 17.    U.S. SMART PILLS MARKET, 2017-2025 ($ MILLION)
FIGURE 18.    CANADA SMART PILLS MARKET, 2017-2025 ($ MILLION)
FIGURE 19.    MEXICO SMART PILLS MARKET, 2017-2025 ($ MILLION)
FIGURE 20.    GERMANY SMART PILLS MARKET, 2017-2025 ($ MILLION)
FIGURE 21.    FRANCE SMART PILLS MARKET, 2017-2025 ($ MILLION)
FIGURE 22.    UK SMART PILLS MARKET, 2017-2025 ($ MILLION)
FIGURE 23.    ITALY SMART PILLS MARKET, 2017-2025 ($ MILLION)
FIGURE 24.    SPAIN SMART PILLS MARKET, 2017-2025 ($ MILLION)
FIGURE 25.    RUSSIA SMART PILLS MARKET, 2017-2025 ($ MILLION)
FIGURE 26.    REST OF EUROPE SMART PILLS MARKET, 2017-2025 ($ MILLION)
FIGURE 27.    JAPAN SMART PILLS MARKET, 2017-2025 ($ MILLION)
FIGURE 28.    CHINA SMART PILLS MARKET, 2017-2025 ($ MILLION)
FIGURE 29.    INDIA SMART PILLS MARKET, 2017-2025 ($ MILLION)
FIGURE 30.    AUSTRALIA SMART PILLS MARKET, 2017-2025 ($ MILLION)
FIGURE 31.    AUSTRALIA SMART PILLS MARKET, 2017-2025 ($ MILLION)
FIGURE 32.    TAIWAN SMART PILLS MARKET, 2017-2025 ($ MILLION)
FIGURE 33.    REST OF ASIA-PACIFIC SMART PILLS MARKET, 2017-2025 ($ MILLION)
FIGURE 34.    BRAZIL SMART PILLS MARKET, 2017-2025 ($ MILLION)
FIGURE 35.    SOUTH AFRICA SMART PILLS MARKET, 2017-2025 ($ MILLION)
FIGURE 36.    SAUDI ARABIA SMART PILLS MARKET, 2017–2025 ($MILLION)
FIGURE 37.    ARGENTINA SMART PILLS MARKET, 2017–2025 ($MILLION)
FIGURE 38.    REST OF LAMEA SMART PILLS MARKET, 2017–2025 ($MILLION)
FIGURE 39.    INTROMEDIC, 2015–2017 ($MILLION)
FIGURE 40.    PHILIPS: NET SALES, 2015–2017 ($MILLION)
FIGURE 41.    PHILIPS: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 42.    PHILIPS: REVENUE SHARE BY GEOGRAPHY, 2017 (%)
FIGURE 43.    MEDTRONIC, 2015–2017 ($MILLION)
FIGURE 44.    MEDTRONIC: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 45.    MEDTRONIC: REVENUE SHARE BY GEOGRAPHY, 2017 (%)
FIGURE 46.    OLYMPUS: REVENUE, 2015–2017 ($MILLION)
FIGURE 47.    OLYMPUS: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 48.    OLYMPUS: REVENUE SHARE BY GEOGRAPHY, 2017 (%)

 

Smart pills are capsule-sized ingestible medical devices that consist of sensors, cameras, patches, and trackers that help in better diagnostics, patient monitoring, as well as targeted drug delivery. Smart pills, being non-invasive can be a potent alternative approach against invasive procedures such as gastrointestinal endoscopy/colonoscopy. The major factors that drive the growth of the global smart pills market are rise in R&D expenditure pertaining to smart pills, increase in per capita expenditure on healthcare in developing economies, and favorable government regulations.

The major factors that contribute to the market growth include increase in geriatric population, rise in gastrointestinal disorders such as GERD, colorectal cancer, and others. In addition, increased use of smart pills in diagnostic centers and hospitals for the diagnosis of the disease significantly drives the growth of the market. Further, smart pills are being considered as a potent alternative to traditional, painful, endoscopic procedures, which also is expected to fuel the market growth.

Moreover, capsule endoscopy accounted for the largest market share in the application segment owing to its increased use in diagnostic procedures for gastrointestinal disorders. Capsule endoscopy is being widely performed to diagnose the aforementioned disease indications and thereby, significantly contributes for the growth of smart pills globally. There have been remarkable advancements as well as some major developments, such as devices with more throughput and accurate results, in this market. Nevertheless, the growth in need of non-invasive devices has increased the demand for innovative technologies along with newer versions of capsule endoscopes.

 

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