The global Smart Pill Technology Market is expected to grow at a CAGR of 17% reaching $965 Million by the year 2017.
(PRWEB) November 18, 2012
According to a new market research report, “Smart Pill Technology Market (2012-2017)”, published by MarketsandMarkets (http://www.marketsandmarkets.com), global Smart Pill Technology Market is expected to grow at a CAGR of 17% reaching $965 Million by the year 2017. The research report is an attempt to unveil the incredible breakthrough in medical electronic technologies using Bio-MEMS (Biological Micro-Electro Mechanical Systems).
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Smart Pill Technology, also known as Ingestible Capsule Technology (ICT) incorporates miniaturized micro-electronic systems in a single chip enclosed in a small capsule. The capsule is administered orally for diverse diagnostic and bio-medical applications. Capsule Endoscopy is already in command in the current Smart Pills market. Next generation ingestible electronic capsules for drug delivery and patient monitoring are the emerging technologies under SPT.
The technical report on Smart Pills categorizes the Smart Pill technology into Capsule endoscopy, Smart pills for drug delivery and Patient monitoring smart pills. Each technology is thoroughly analyzed through extensive primary and secondary research. This technology report is further divided into segments and sub-segments for each technology providing exhaustive technology analysis for 2009, 2010 and 2011, as well as forecast up to 2017. This technology report identifies the potential market drivers and restraints to anticipate the future technology trends, opportunities and overcoming the challenges. The market is segmented and revenues are forecasted on the basis of major regions such as North America, Europe, Asia-Pacific and Middle-east and Africa. The key countries are covered and their respective market adoption potentials for smart pills are analyzed. Further, market is segmented and revenues are forecasted on the basis of applications. The report also provides effective and elaborative valuation of SPT investors and incubators with profitable investment opportunities. Multi-criteria based decision making using AHP (Analytical Hierarchy process) tool reveals significant impact and technology adoption potential for Smart Pills.
The global Smart Pill Technology Market is expected to grow at a CAGR of 17% reaching $965 Million by the year 2017.The rapid growth of SPT is attributed due to the rising number of screening treatments for Gastro-Intestinal (GI) disorders and as well as the improved reimbursement coverage across the developing and developed nations. The emerging economics such as Asia-Pacific nations, Middle East countries & Africa are the future driving factors for the Smart Pill Technology market due to their growing GDP, healthcare awareness and rising demand for minimally invasive medical treatments.
SPT has enormous potential advantages. Early detection of cancer and unknown Gastro-Intestinal (GI) disorders using non-invasive smart medical pills would be life saving for patients. Smart pills, enabled by Bio-MEMS (Biological Micro-Electro-Mechanical Systems), facilitates in effective imaging, patient monitoring and drug delivery, thenceforth opening opportunity doors for novel therapeutic and diagnostic treatments for life threatening diseases. With the growing R&D efforts, novel product innovations, regulatory approvals and competitive landscape, the Smart Pills market is poised for dramatic growth in the coming five years.
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