The smart pills technology market on a global level was valued as a USD 187.91 million industry in 2016 and is expected to grow at a rapid rate. It is set to become a USD 579.60 million market by 2021. This market is expected to grow at a CAGR of 20.65%.
The use of smart pills, which seemed futuristic and improbable a hundred years ago, is now becoming a reality. The idea of having something that is minute but all-powerful in one’s body, and able to track bodily functions and forewarn of potential illnesses, has started to appeal to many people. The increased need for convenient, minimally invasive devices and accurate therapeutic treatment strategies has led to an increased interest in research on smart pill.
Global Smart Pills Drug Delivery Market - Market Dynamics
The report details several driving and restraining factors for the global smart pills drug delivery market. Some of these are listed below.
The market is segmented into four categories. The categories being patient monitoring systems, smart pill drug delivery modes, capsule endoscopy, and diagnostics. The market trends, forecasting, and the geographic analysis is done in detail for the smart pill drug delivery market on a global basis. Geographical trends are also available for this data.
The US has been the market leader in smart pill capsule endoscopy since 2012. After the US, Europe has the major market share. In the emerging markets, this technology is still in the starting stages but in the future, the emerging markets are expected to show a rise in the market share.
Some of the key players in the market are:
Key Deliverables in the Study