Global market for Smart Pills expected to reach $2.2 billion in 2021

Monday, June 5, 2017 Research News
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LONDON, June 5, 2017 /PRNewswire/ -- Highlights

·         The global market for smart pills reached $720 million

in 2015.

·         This market is expected to increase from $850 million in 2016 to $2.2 billion in 2021 at a compound annual growth rate (CAGR) of 21.1% for 2016-2021.

·        

United States market for smart pills is expected to grow from $468 million in 2016 to nearly $1.2 billion at a CAGR of 20.6% from 2016 through 2021.

sia market for smart pills is expected to grow from $110 million in 2016 to $310 milliom in 2021 at a CAGR of 23.0% from 2016 through 2021.

• The global market for smart pills reached $720 million in 2015. This market is expected to increase from $850 million in 2016 to $2.2 billion in 2021 at a compound annual growth rate (CAGR) of 21.1% for 2016-2021.• United States market for smart pills is expected to grow from $468 million in 2016 to nearly $1.2 billion at a CAGR of 20.6% from 2016 through 2021.• Asia market for smart pills is expected to grow from $110 million in 2016 to $310 milliom in 2021 at a CAGR of 23.0% from 2016 through 2021.IntroductionSmart pills are ingestible medical devices consisting of elements such as sensors, cameras, patches, and trackers that help to improve diagnostics, drug delivery and monitoring of various disorders. These unique devices can be easily swallowed and offer noninvasive drug delivery, as well as thorough examination of the gastrointestinal (GI) tract. Smart pills also enable comprehensive health monitoring of various physiological metrics and the measuring of medication adherence in patients. Smart pill technology has revolutionized diagnosis and imaging related to the GI tract through wide acceptance of capsule endoscopy in the past decade. Capsule endoscopy is regarded as a major technical innovation, influencing the investigation and management of various small-bowel diseases, esophageal disorders and colonic disorders. These ingestible capsule endoscopes are designed to provide complete examination of the GI tract including images of the esophagus, stomach, small intestine, and large intestine. Capsule endoscopy is noninvasive and causes minimal discomfort. Variouscapsule endoscopes available in the market include small-bowel capsules, colon capsules and esophageal capsule endoscopes. The small-bowel capsule is the most commonly used capsule endoscope in patients with acute GI bleeding. The capsule endoscopy segment is one of the largest segments in the smart pills market and has gained a strong footprint.After the success of capsule endoscopy, smart pills are now expanding into patient monitoring and drugdelivery segments due to the various advantages of these digital pills over conventional monitoring and oral drug-delivery techniques. They can also provide the practitioner with information pertaining tovarious parameters such as pH, temperature and pressure of the GI tract. Some smart pills are designed to monitor and control drug release, while others are designed to record data related to drug release. These technologies offer therapeutic advantages over their conventional counterpart drugs in multiple ways. Delivering a drug at the precise location and releasing it at the right time is very important for desired therapeutic effect, and smart pills fulfill these tasks accurately. Additionally, they improve the effectiveness and reduce the toxicity of the drug. Since the information that they collect can be transmitted to external devices, both patients and healthcare providers can be empowered to make better decisions based on the drug-delivery results.Study Goals and ObjectivesThis study, Smart Pills: Applications and Global Markets, provides an overview of smart pills and their applications in diagnosis, drug delivery and patient monitoring, and gives a detailed analysis of competitive environments. It covers a wide variety of smart pills and technologies that predominantly accelerate the monitoring, diagnosis and treatment of diseases and disorders. This study includes information about emerging smart pill technologies, market players, issues, and trends, and offers other information affecting the pharmaceutical, medical device and diagnostics industry. The study meets the criteria above by analyzing the global pharmaceutical, medical device and diagnostics industry in light of the most recently available information. In addition to looking at currentand future markets, this report analyzes the technological, demographic and economic developments that may have a long-term impact on the size and structure of the pharmaceutical, medical device and diagnostics market. The future of smart pills is also discussed with forecasts.More specific objectives are to:• Identify and segment the key smart pills and technologies used for diagnosis, monitoring, treatment, and prevention of various diseases and disorders.• Analyze current and future device technologies by market segments.• Identify and evaluate the impact of demographic, economic and other factors that will drive future demand for the smart pills market.• Identify promising new smart pills and technologies still in the development and testing stage, and assess the probability that they will be commercialized successfully in the next five years.• Forecast the potential market based on pipeline devices, taking into account the estimated probability that they will be commercialized.This study will provide the reader with the knowledge to adequately view and assess smart pills and provide insights into their market potential.Reasons for Doing This StudyThe pharmaceutical and medical device industry is under pressure due to rising research and development (R&D) costs and the shrinking product pipeline worldwide. The annual number of new drugs approved by the Food and Drug Administration (FDA) for marketing has significantly declined, but at the same time R&D spending by pharmaceutical manufacturers has increased manyfold. Patent expiry and the rise of generics are a few other challenges that pharma giants are facing. The pharmaceutical and medical device industry has moved away from traditional areas of development to search for new and technologically advanced smart solutions in order to manage these challenges. Medical device companies are inclined towards capsule endoscopy to replace conventional diagnostic techniques such as endoscopy and colonoscopy for the investigation and management of various smallbowel diseases, esophageal disorders, colonic disorders, and so forth. Apart from diagnosis, these smart capsules also provide information about various parameters such as pH, temperature and pressure ofthe GI tract.Pharmaceutical manufacturers are also turning to smart pill technology to deal with the current challenges associated with R&D costs, shrinking pipelines, and the rise of generics. A smart pill is a type of oral tablet that incorporates some type of medical device, such as a microchip, that controls the release of the active pharmaceutical ingredient after ingestion. These smart pills do not make patients more intelligent, but rather function more smartly than traditional drugs. They improve the safety or effectiveness of an existing drug with targeted delivery, controlled drug release, compliance monitoring, and several other benefits. Furthermore, these new products may generate new patents, allowing manufacturers to compete with generics. Overall, smart pills offer diagnosis, drug delivery, real-time data monitoring, logical calculation, and network communication. Smart pill applications can be categorized into three major segments:diagnosis, drug delivery and patient monitoring. The growth of the smart pills market is driven mainly by factors such as the growing elderly population, the rising prevalence of chronic diseases, and technological advancements in medical devices.Developed nations from the U.S., Europe and Asia are undergoing a strategic change, with the focus of the industry moving from minimally invasive to completely noninvasive solutions for various GI disorders and chronic disease conditions. The U.S. dominates the global smart pills market, followed by Europe,Asia and the rest of the world (ROW). The large market shares of U.S. and Europe can be attributed to a greater accessibility of advanced technologies and the presence of a large number of leading market players. The growth of the smart pills technology field during the forecast period is reflective of increasing population and rising healthcare needs, escalated consumer healthcare spending, improvement of regional infrastructure, and growing investments of the leading players and respective government agencies.This report is the first edition to cover smart pills and technologies for diagnosis, drug delivery and patient monitoring, with analysis of its key growth areas and quantitative market projections for technologies and devices. This study attempts to provide the reader with information about and analysis of smart pills and their applications in dealing with today's current challenges.Scope of ReportSmart pills include smart ingestible pill-size devices and technologies (e.g., capsule endoscopy, pill-size drug/device combination–based ingestible electronic tablets, microsize capsules for patient monitoring, etc.), which are relatively new and more advanced and give better outcomes in the diagnosis, drug delivery, treatment adherence, health monitoring, and management associated with various diseases. This report is an analytical business tool whose primary purpose is to describe the thorough evaluation of the global market for smart pills. The format of the study is organized around the following:• Detailed description of smart pills and technologies.• Demographics and cost burden of targeted diseases.• Regulatory structure.• Market characterization, unmet need, market size, and segmentation.• Market drivers and restraints.• Detailed market projections through 2021.• Competition and market shares.• Pricing and reimbursement.• Description of marketed and pipeline (R&D) products along with information about their regulatory status and clinical trials.• Observations and conclusions regarding the future of ingestible smart pills.• Profiles of market participants and associations.Information SourcesThis report has been written for vendors of the pharmaceutical and advanced medical equipment sector seeking to understand the potential market for their products and their competitors' products in key markets, as well as for governmental and international agencies seeking to understand the commercial and medical potential of smart pill technologies. This study is especially intended for readers in the:• Pharmaceutical and medical industry.• Executive management and marketing community.• Medical research institution community.• Investment community.• Financial and analyst communityMethodologyThe findings and conclusions of this report are based on information gathered through primary and secondary data collection methods. Primary methods included interviews with key executives, product managers, clinical specialists, and other related key personnel involved in the medical device anddiagnostics industry. Secondary sources included published literature, investment reports, trade publications, trade associations, company literature, online databases, and various business journals that have an emphasis on related medical devices and diagnostic areas. All of these sources were usedto produce the market estimates contained in this report. With 2016 as a baseline, market forecasts were developed for 2016 to 2021. These projections werebased on a consensus of primary contacts combined with BCC Research's understanding of the key market drivers and their impact from a historical and analytical perspective. The analytical methodologies used to generate the market estimates are described comprehensively in the section on detailed market projections. All dollar projections presented in this report are in 2016 constant dollars.Geographic BreakdownIn this report, the geographic regions considered for market analysis include, and only include:• North AmericaEuropeAsia.• Rest of the World (ROW).Download the full report: https://www.reportbuyer.com/product/4923596/About ReportbuyerReportbuyer is a leading industry intelligence solution that provides all market research reports from top publishershttp://www.reportbuyer.com  For more information: Sarah Smith Research Advisor at Reportbuyer.com Email: [email protected]  Tel: +44 208 816 85 48 Website: www.reportbuyer.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-market-for-smart-pills-expected-to-reach-22-billion-in-2021-300468707.html

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