Ingestible Smart Pills Market, By Component (Smart Pills (Patient Monitoring, Capsule Endoscopy (Small Bowel Endoscopy, Esophagus Endoscopy, Colon Endoscopy)), Workstation), By Application (Imaging, Monitoring), By End User (Hospitals, Clinics, Research Institutes, Home Healthcare), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published In : Aug 2020

Code : CMI4091

Pages :178

Formats :

Excel and PDF

Industry : Medical Devices

Ingestible Smart Pills MarketSize and Trends

The global ingestible smart pills market is estimated to account for US$ 1,175.4 Mn in terms of value and is expected to reach US$ 1,734.3 Mn by the end of 2027.

Smart pills held dominant position in the global ingestible smart pills market in 2019, accounting for 81.7% share in terms of value, followed by workstation, respectively.

Figure 1. Global Ingestible Smart Pills Market Share (%), by Value, by Treatment Type, 2019

The global ingestible smart pills market was valued at US$ 1,111.8 Mn in 2019 and is forecast to reach a value of US$ 1,734.3 Mn by 2027 at a CAGR of 5.7% between 2020 and 2027.

Figure 2. Global Ingestible Smart Pills Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027

Market Trends/Key Takeaways

Global Ingestible Smart Pills Market: Trends High prevalence for needle fear is expected to propel growth of the global ingestible smart pills market over the forecast period. For instance, according to the study, ‘The fear of needles: A systematic review and meta-analysis,’ published in the Journal of Advanced Nursing in January 2019, the prevalence for needle fear ranged from 20-50% in adolescents and 20-30% in young adults.

Major players in the global ingestible smart pills market are focused on adopting collaboration and partnership strategies to expand their product portfolio. For instance, in July 2020, HOYA Corporation and Hitachi, Ltd. announced a five year contract regarding Endoscopic Ultrasound Systems by which Hitachi will continue supplying diagnostic ultrasound systems and ultrasound sensor related parts used in Endoscopic Ultrasound Systems.