Smart Pill Technologies is the use of advanced methods for the preparation of prescription pills which has revolutionized patient monitoring, diagnosis of diseases and improved drug delivery. Smart pill technologies are the converging link between digital technology and healthcare industries. These smart pills have many benefits other than providing signals and alerts when consumed
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According to the report Asia Pacific Smart Pill Technologies Market, published by Market Data Forecast, the Asia Pacific market is projected to reach USD 1.12 billion by 2021, at a CAGR of 18.4% from 2016 to 2021.
Asia Pacific Smart Pill Technologies Market: Drivers & Restraints
The Asia Pacific smart pills technology market is estimated to showcase a robust growth in the forecast period, due to the rising prevalence of gastrointestinal diseases (like motility disorders, obscure gastrointestinal bleeding, colon cancer and Crohns disease), sedentary lifestyle and high patient compliance because of minimally invasive techniques. The introduction of novel technologies like ingestible sensors, catheter-less pH monitoring, and wireless capsule based GI monitoring would result in an accelerated market growth.
Capsule endoscopes provide complete examination of GI tract which consists of a complete view of stomach including oesophagus, small intestine and large intestine.
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Such pharmaceutical capsules play a vital role in differentiating between the healthy and unhealthy cells like targeted smart drug delivery or a targeted therapy. Collaborations between research institutions and companies, licensing agreements & partnerships amongst companies and augmented R&D investment on smart pills are some of the other factors boosting the market growth.
However, factors such as limited technical know-how, high costs, and low patient confidence are inhibiting market growth.
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Asia Pacific Smart Pill Technologies Market: Segmentation
- Capsule Endoscopy
o Small Bowel Video Capsule Endoscopy
o Colon Capsule Endoscopy
o OMOM Capsule Endoscopy Platform
- Small Bowel Capsule Endoscopy
- Controllable Capsule Endoscopy
- Storable Capsule Endoscope
- Colon Capsule Endoscope
- pH Capsule Wireless Monitoring System
- Impedance–pH Monitoring System
o Upgraded MiroCam and Advanced Capsule Endoscope
o The ANKON MCE System
- Drug Delivery
- Patient monitoring of cancer
By disease indication
- Occult GI Bleeding
- Crohn’s Disease
- Small Bowel Tumours
- Celiac Disease
- Inherited Polyposis Syndromes
Asia Pacific Smart Pill Technologies Market: Overview
The advent of the smart pills technology in the market is recent and it is penetrating the developed as well as developing countries. The rising demand for monitoring and treating diseases through advanced technologies is driving this market.
In the past few years the market has witnessed high percentages of adoption towards utilization because of the non-invasiveness, better patient accessibility and thorough monitoring. Capsule endoscopy commanded the highest revenue in 2014.
The first capsule endoscope model, which is now considered as a first-line tool for the diagnosis of abnormalities of the small bowel, was the PillCam SB. It got approval in Japan in April 2007.
GI monitoring application category is anticipated to register fastest growth in the aforementioned forecast period. Asia Pacific smart pill technologies market will witness considerable developments in innovation of a very wide range of products that require innovative marketing approaches.
The smart pill technologies market is presently underpenetrated and in its early stage of development. Though the maximum revenues are generated by the emerging economies, it is also observed that CAGR in the emerging economies are high.
It is because of the rising awareness in the latest innovative testing methods and the continuously improving economic conditions.
Asia Pacific Smart Pill Technologies Market: Region-wise Outlook
The Asia Pacific Smart Pill Technologies market is geographically categorized into India, China, Korea, Japan and others. The Smart Pill Technologies market in the Asia-Pacific region is projected to grow at the highest CAGR, which is greatly due to increasing reimbursements, training in endoscopes handling, and huge corporate investments in R&D in countries like Japan.
Asia Pacific Smart Pill Technologies Market: Key Players
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 Asia Pacific Smart Pill Technologies market.
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