“The healthcare industry is witnessing a paradigm shift from traditional devices to more sophisticated and programmed ones. Growing demand for noninvasive procedures, sophisticated drug delivery techniques, and improved patient monitoring solutions are propelling the growth of this market. Companies are increasingly focusing on investing in R&D activities for the development of the smart pills technology in order to meet consumer expectations and to help in the treatment of various diseases.
The smart pills market is segmented on the basis of applications and regions. On the basis of applications, capsule endoscopy accounted for the largest share of the smart pills market in 2014. On the basis of regions, North America is expected to grow at the highest CAGR during the forecast period. The high growth of this region can be attributed to the favorable reimbursement scenario, FDA approvals for smart pills, and investment by government and other agencies.
The smart pills market has few players as two major segments of the market are under R&D phase. The companies in this market focus on growth strategies such as new product launches; agreements, partnerships, collaborations, and others (approvals and expansion) to increase their customer base.
The major players in the global smart pills market include CapsoVision, Inc. (U.S.), Given Imaging, Inc. (Israel), Medimetrics S.A. de C.V. (Mexico), Olympus Corporation (Japan), and Bio-Images Research Limited (U.K.).
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help the firms in garnering a greater market share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
â¢ Market Penetration: Comprehensive information on product portfolios and services offered by the 10 major players in the smart pills market. The report analyzes the smart pills technology across geographies
â¢ Product Development/Innovation: Detailed insights on the upcoming technologies, research and development activities, and new product launches in the smart pills market
â¢ Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the smart pills market across geographies
â¢ Market Diversification: Extensive information about new products and services, untapped geographies, recent developments, and investments in the smart pills market
â¢ Competitive Assessment: In-depth assessment of strategies, products, and services of the leading players in the smart pills market
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