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(MoneyNewsWire.Net, October 11, 2017 ) According to the report North America Smart Pill Technologies Market, published by Market Data Forecast, the Market has been estimated at USD 726 Million in 2016 and is projected to reach USD 1605.37 Million by 2021, at a CAGR of 17.2% during the forecast period from 2016 to 2021. Smart pills are basically medical devices and small embedded electronic appliances such as sensors, cameras and trackers. It has outperformed the conventional GI monitoring endoscopy with more convenient smart pill technology, which has now become the standard non-invasive diagnosis technique for motility disorders. Moreover, it helps physicians in real-time patient monitoring through remote controlling options.
Get a comprehensive overview of the North America Smart Pill Technologies Market: http://www.marketdataforecast.com/market-reports/north-america-smart-pill-technologies-market-1684/
The market for Smart Pill Technologies is mainly driven due to favorable reimbursement scenario, patient preference for minimally invasive procedures, technological advancements in endoscopy procedures, and rising prevalence of colon cancer. But, the market growth can be hampered due to barriers to technology such as age, cost and utility, and fear among patients regarding swallowing a microchip.
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North America market for Smart Pill Technologies is segmented based on Application. By Application, the market is further sub-segmented into Capsule Endoscopy, Drug Delivery, Patient monitoring. Capsule Endoscopy segment is further sub-segmented into Small Bowel Video Capsule Endoscopy, Colon Capsule Endoscopy, OMOM Capsule Endoscopy Platform, MiroCam, Upgraded MiroCam and Advanced Capsule Endoscope, The ANKON MCE System and CapsoCam. Capsule endoscopy segment is expected to be one of the largest markets owing to the advantages attached such as disease diagnosis in small intestine. Drug delivery market is also expected to experience growth due to the benefit of improving medication efficiencies, improving patient compliance & convenience, and fast paced technology.
Geographically, North America market for Smart Pill Technologies is segmented into U.S. and Canada. North America is the biggest market in terms of market share across the globe. The market in North America is highly driven due to favorable reimbursement scenario, FDA approvals for smart pills, and rising investments by government and other agencies.
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CapsoVision, Inc., Given Imaging, Inc., Medimetrics S.A. de C.V., Olympus Corporation, Bio-Images Research Limited, Novartis, Given Imaging Ltd, Philips Healthcare, Smartpill, Inc., Medtronic, Inc., Pentax Medical Company, Siemens Healthcare, Stryker Corporation, GE Healthcare, Boston Scientific Corporation, IntroMedic Inc., Chongqing Jinshan Science & Technology Group Co. Ltd., Proteus Digital Health Inc., are the major players of North America Smart Pill Technologies market.
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