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Smart Pills Patient Monitoring Market: Current Analysis and Forecast (2022-2028)

Publisher UnivDatos Market Insights
Published Jan 01, 2023
Length 142 Pages
SKU # Univ17768282

Description

Smart Pills Patient Monitoring Market: Current Analysis and Forecast (2022-2028)

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% 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 helps 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.
  • On the basis of end-user, the market is segmented into hospitals, speciality clinics, surgical centers, and others. The hospitals segment held the maximum share in the market in 2020. This is mainly due to the high number of patients admitted to hospitals for a variety of conditions and the rising demand for early diagnosis and treatment. Moreover, the rising number of hospitals globally will drive market growth.
  • For a better understanding of the market adoption of the smart pills patient monitoring, 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.
  • Some of the major players operating in the market include 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.

Table of Contents

142 Pages
1 MARKET INTRODUCTION
1.1. Market Definitions
1.2. Main Objective
1.3. Stakeholders
1.4. Limitation
2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1. Research Process of the Smart Pills Patient Monitoring Market
2.2. Research Methodology of the Smart Pills Patient Monitoring Market
2.3. Respondent Profile
3 MARKET SYNOPSIS
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
7.1. Small Intestine
7.2. Esophagus
7.3. Large Intestine
7.4. Stomach
8 MARKET INSIGHTS BY END USER
8.1. Hospitals
8.2. Speciality Clinics
8.3. Surgical Centers
8.4. Others
9 MARKET INSIGHTS BY REGION
9.1. North America
9.1.1. U.S.
9.1.2. Canada
9.1.3. Rest of North America
9.2. Europe
9.2.1. Germany
9.2.2. U.K.
9.2.3. France
9.2.4. Italy
9.2.5. Spain
9.2.6. Rest of Europe
9.3. Asia-Pacific
9.3.1. China
9.3.2. Japan
9.3.3. India
9.3.4. Rest of Asia-Pacific
9.4. Rest of World
10 SMART PILLS PATIENT MONITORING MARKET DYNAMICS
10.1. Market Drivers
10.2. Market Challenges
10.3. Impact Analysis
11 SMART PILLS PATIENT MONITORING MARKET OPPORTUNITIES
12 SMART PILLS PATIENT MONITORING MARKET TRENDS
13 DEMAND AND SUPPLY-SIDE ANALYSIS
13.1. Demand Side Analysis
13.2. Supply Side Analysis
14 VALUE CHAIN ANALYSIS
15 COMPETITIVE SCENARIO
15.1. Competitive Landscape
15.1.1. Porters Fiver Forces Analysis
16 COMPANY PROFILED
16.1. Medtronic PLC
16.2. Otsuka Pharmaceutical Co., Ltd.
16.3. Novartis AG
16.4. CapsoVision, Inc.
16.5. FUJIFILM Corporation
16.6. BMedical Pty Ltd
16.7. PENTAX Medical
16.8. INTROMEDIC
16.9. Boston Scientific Corporation
16.10. General Electric Company
17 DISCLAIMER

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