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The smart pills market is forecasted to achieve notable growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 11%, as per The Business Research Company’s market report!

Read More On The Smart Pills Market Report 2022 – https://www.thebusinessresearchcompany.com/report/smart-pills-global-market-report

The Smart Pills Market Size In 2022 And Forecast
The global smart pills market grew from $4.03 billion in 2021 to $4.48 billion in 2022 at a compound annual growth rate (CAGR) of 11.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The smart pills market is expected to grow to $6.83 billion in 2026 at a CAGR of 11.1%.

The smart pills market consists of the sales capsule-sized ingestible medical devices with small embedded electronic products such as sensors, cameras, patches, and trackers.

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Growth In The Preference For Non-Invasive Procedures Is Driving The Growth Of The Smart Pills Market
For instance, smart pills have key applications in diagnostic imaging such as capsule endoscopy. The capsule endoscopy is a diagnostic procedure in which a smart pill (capsule enclosed micro-camera) is swallowed and images of the esophagus, stomach, and small intestine can be taken as the device pass through your gastrointestinal (GI) tract. Smart pills have revolutionized the diagnosis of gastrointestinal disorders and could replace conventional diagnostic techniques such as endoscopy. Therefore, non-invasive procedures are driving the smart pills market during the period.

Competitive Landscape And The Regional Analysis Of The Smart Pills Market
Major players in the smart pills market are Medtronic Plc., Olympus Medical Technology, CapsoVision, Inc., Novartis AG, Proteus Pharmaceuticals, Philips Healthcare, Microchips, Bio-Images Drug Delivery (BDD) Limited, Given Imaging, Inc., and Vitality.

Additionally, as per TBRC’s research – North America was the largest region in the smart pills market in 2021 holding the largest market share.

The Smart Pills Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the smart pills market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the smart pills market.

Extending Research And Development – A Key Trend In The Smart Pills Market
Extensive research and development are being carried out on the use of miniature chips such as Addressable Transmitters Operated as Magnetic Spins (ATOMS) which can be used as smart pills. ATOMS are silicon chip devices that use the principle of magnetic resonance imaging (MRI) to determine the location of atoms in a patient’s body using magnetic fields. ATOMS can be used in ingestible smart pills to diagnose and treat diseases from within the body. The devices can be used to monitor a patient’s gastrointestinal tract, blood, or brain. They also could measure factors that indicate the health of a patient such as pH, temperature, pressure, and sugar concentrations, and relay that information to doctors. The devices could even be instructed to release drugs.

Smart Pills Market Segmentation By The Business Research Company

1) By Product: Consumables And Reagents, Instruments, Software And Services

2) By Application: Clinical Diagnostics, Life Science Research, Industrial Applications, Other Applications

3) By Technology: Quantitative PCR, Digital PCR

4) By End-Use: Academic And Research Institutes, Pharmaceutical And Biotechnology, Clinical Diagnostics Labs And Hospitals, Other End Users

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Multivitamin Capsules And Tablets Global Market Report 2022

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