What is Smart Pills Drug Delivery Market?
Smart pills are the capsules that are prescribed to patients and are equipped with electronic sensors, which send a wireless message to devices, like patches, tablets, or smartphones outside the body when they are ingested. Smart pills are capable of eliminating the need for invasive procedures. The wireless communication of smart pills allows the understanding of real-time information. Various advances are being undertaken in the smart pills, such as advances in batteries and on-board memory, which are making them significant for long-term usage. These smart capsules could also be designed to sense infections, allergic reactions, or other events, and then release a drug in response. Hence, all these factors contribute to the increasing research that will be responsible for driving the overall market.
The market study is being classified, by Application (Hospitals, Medical Research Center, Pharmaceutical Factory and Others) and major geographies with country level break-up.
CapsoVision (United States), Check-Cap (Israel), etectRx Inc. (United States), Jinshan Science and Technology (China), Koninklijke Philips NV (Medimetrics) (The Netherlands), Medtronic PLC (Ireland), Otsuka Pharmaceutical Co. Ltd (Japan), Intromedic (South Korea) and Olympus Medical Technology (Japan) are some of the key players profiled in the study.
The vendors in this market are majorly focusing on developing innovative services in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA predicts that United States and Japanese Players will contribute to the maximum growth of Global Smart Pills Drug Delivery market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Smart Pills Drug Delivery market by Type, Application and Region.
On the basis of geography, the market of Smart Pills Drug Delivery has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Preference for Minimally Invasive Devices
- Increasing Incidence of Gastrointestinal Disorders
- Advancements in Biotechnological
- Stringent Regulations for the Approval of Smart Pills
- Potential Health Risk
- Increased Government Spending On Medical Sector
CapsoVision announced that the U.S Food & Drug Administration (FDA) will apply enforcement discretion which allows at-home administration of the CapsoCam Plus small bowel capsule endoscope during the COVID-19 pandemic for patients who are determined eligible for at-home administration.
Key Target AudienceProviders of Smart Pills Drug Delivery, End-Users, Potential Investors, Regulatory Bodies, Market Research Firms and Others
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