Smart Pills Patient Monitoring Market Attain ~USD 28 Billion by 2035

by Research Nester
Smart Pills Patient Monitoring Market

Research Nester assesses the growth of global smart pills patient monitoring market which is anticipated to be on account of the growing proportion of chronic diseases and expanding ratio of geriatric populace across the globe.

Research Nester’s recent market research analysis on “Smart Pills Patient Monitoring Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global smart pills patient monitoring market in terms of market segmentation by target area, application, disease indication, end-user, and by region.

Growing Concern and Demand for Non-Invasive Processes to Drive Growth of Global Smart Pills Patient Monitoring Market

The global smart pills patient monitoring market is estimated to grow majorly on account of the increased frequency of gastrointestinal reflux disease among people. This condition develops when stomach acid frequently flows back into the tube that connects the mouth and stomach (esophagus). If acid reflux occurs often over time, it may progress to GERD. GERD is a life-threatening disease that does not go away on its own. Untreated GERD can induce esophageal inflammation and problems such as ulcers, strictures, and an increased risk of Barrett’s esophagus, a predecessor to esophageal cancer. For instance, in the United States, roughly 25% of the population suffers from gastrointestinal reflux disease (GERD), generally known as chronic acid reflux.

Furthermore, increasing success ratio and technological developments in capsule endoscopy are also projected to drive the growth of the market as the endoscopy procedure is highly deployed in the screening process of various gastrointestinal disorders. A long, thin tube is inserted directly into the body during an endoscopy to inspect an internal organ, such as the digestive tract. Endoscopy is mainly a non-invasive process to detect the internal organ’s functionality and so on. Additionally, with the use of tools such as the capsule endoscopy method, the small bowel, which is typically a cryptic and inaccessible part of the GI system, may now be reached.

Some of the major growth factors and challenges that are associated with the growth of the global smart pills patient monitoring market are:

Growth Drivers:

  • A Surge in Missed Medication Scenarios
  • Rising Occurrence of Neurological Diseases Across the Globe

Challenges:

The price associated with smart pills for patient monitoring is comparatively higher than the traditional pills and medicines as these pills are a combination of cutting-edge technology comprising several kinds of sensors and trackers. Moreover, the stringent regulations developed by the government of nations regarding the utilization of smart pills are also estimated to hinder the growth of the market. Through these pills, the dosage of a patient is tracked by his/her physician. The disadvantage of more tracking is that a patient would have to abandon even more privacy. Therefore, these are some of the major factors anticipated to hamper the growth of the global smart pills patient monitoring market.

Access our detailed report at: https://www.researchnester.com/reports/smart-pills-patient-monitoring-market/3864

By application, the global smart pills patient monitoring market is segmented into capsule endoscopy, patient monitoring, and drug delivery. Amongst these segments, the capsule endoscopy segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. This growth is ascribed to the mounting inclination in people for non-invasive processes, along with the significant escalation in the cases of various types of gastrointestinal diseases including peptic ulcers, irritable bowel syndrome, ulcerative colitis, and so on. For instance, every year, over 5 million people worldwide suffer from peptic ulcer disease, with a lifelong prevalence of nearly 6-12% in the general populace.

By region, the North America smart pills patient monitoring market is to generate the highest revenue by the end of 2035. This growth is anticipated by the higher prevalence of colorectal cancer in people owing to the surge in inactive lifestyles, followed by the escalating proportion of aged people in the region. For instance, in the United States, more than 1 million people were expected to be diagnosed with colorectal cancer by 2022. In contrast, over 21 million people who were entitled to colorectal cancer screening did not obtain one. In addition to this, rising healthcare spending, and increased investment in medical research activities are also expected to drive market growth during the forecast period in the region.

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This report also provides the existing competitive scenario of some of the key players of the global smart pills patient monitoring market which includes company profiling of AbbVie Inc., Novartis AG, CapsoVision, Inc., Medimetrics, SA de CV, TauRx Pharmaceuticals Ltd, Medtronic plc, Olympus Corporation, etectRx, Otsuka Pharmaceutical Co. Ltd., FUJIFILM Holdings Corporation, and others.     

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