Market Report - Smart Pills Market Size, Company Share To 2020: Grand View Research, Inc.

Market Report - Smart Pills Market Size, Company Share To 2020: Grand View Research, Inc.

Increasing demand for novel endoscopic tools which are capable of monitoring human anatomy and various other gastrointestinal structures are expected to boost usage rates of smart pills over the forecast period. Based on multiple factors such as density, temperature, pressure, pH, and other, smart pills focuses on the medication recording. Furthermore, growing geriatric population with gastrointestinal (GI) disorders like gastric ulcers, gastritis, and constipation, increasing adolescent population with unhealthy food habits like skipping meals, consumption of junk food, and poor diet, and growing predominance of gastrointestinal disorders such as GERD, gastroparesis, diverticulitis and colitis are expected to positively reinforce market growth over the estimated period of seven years. Moreover, increasing demand for MIS procedures, growing prevalence of colon cancer & peptic ulcers, implementation of technological advancement in endoscopic procedures and endoscopic therapies like esophageal banding, and technological advancements such as integration of software based analysis, and wireless capsule implementation are amongst few factors propelling market growth.

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The capsule endoscopy emerged as one of the highest revenue contributing application area of smart pills. The adaptation rates of capsule endoscopy is encouraged by the introduction of various reimbursement policies by the government, growing prevalence of peptic ulcers & crohn’s disease, and growing demand for fast and uncomplicated diagnosis. Furthermore, drug delivery is expected to grow at a lucrative rate over the forecast period owing to the factors such as growing awareness regarding targeted drug deliveries among the patient population, and growing demand for effective and efficient treatment options.

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