The global electronic pill market is expected to reach an approximate CAGR of 15% during the forecast period. The electronic pill is an ingestible capsule that is embedded with sensors and camera. After ingesting the pill, the pill captures several images per second of the gastrointestinal tract which is received by the connected recording device. It is a monitoring system used to monitor temperature, pH, conductivity and dissolved oxygen. Electronic Pills are used for diagnostics of various gastrointestinal tract diseases like colon cancer, colon polyps, gastrointestinal bleeding and other infectious diseases. The increase in preference of non-invasive methods for diagnostics is driving the growth of the market. Moreover, the rising geriatric population, increasing prevalence of gastrointestinal diseases like colorectal cancer, changing lifestyle, increasing unhealthy eating habits, controlled drug delivery and better way of endoscopy procedures are major factors influencing the growth of the market.
According to the American Cancer Society, Inc. in 2017, 27,150 men and 23,110 women had colorectal cancer in the US. Thus, such a high incidence rate of colorectal cancer provides favorable backgrounds for the market growth. Also, growing demand for rapid and precise diagnostics, adoption of advanced technology are the key factors for the market to grow.
However, factors such as bowel obstruction, lack of awareness, capsule retention and high costs are expected to restrict the market growth during the forecast period.
Segmentation
The global electronic pill market is segmented on the basis of Application, Target area, Parts and end user. The electronic pill market, by application, is sub-segmented into Capsule Endoscopy, Drug Delivery, and Patient Monitoring. Target area category includes Oesophagus, Stomach, Small Intestine, and large intestine.
By parts, the market is categorized into biocompatible capsule encasing microsensors, Control chip, Radio transmitter and Power source. On the basis of end-user, the market is segmented into Hospitals, Diagnostic centers, Clinical Research Organizations and Medical Centers.
On the basis of region, the global Electronic Pill market is segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
Global Electronic Pill Market, by Key Players
- CapsoVision, Inc. (US),
- Given Imaging Ltd. (Israel),
- Medimetrics (Mexico),
- Bio-Images Drug Delivery BDD LTD (UK),
- Proteus Digital Health (US),
- Olympus Corporation,
- Medtronic,
- Medisafe,
- JINSHAN Science & Technology,
- INTROMEDIC
Market Segmentation and Key Market Players
Global Electronic Pill Market, by Application
- Capsule Endoscopy
- Drug Delivery
- Patient Monitoring
Global Electronic Pill Market, by Target area
- Esophagus
- Stomach
- Small Intestine
- Large Intestine
Global Electronic Pill Market, by Parts
- Biocompatible capsule encasing microsensors
- Silicon diodes
- Ion-Sensitive Field-Effect Transistor
- Direct Contact Gold Electrode
- Electrode Electrochemical Cell
- Control chip
- Radio transmitter
- Power source
Global Electronic Pill Market, by End-User
- Hospitals
- Diagnostic Centers
- Clinical Research Organizations
- Medical Centers
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