Smart pills have outperformed the conventional GI monitoring endoscopy with more convenient technology, which is becoming a standard non-invasive diagnosis technique for motility disorders. The emergence of these healthcare-cum-technology devices has addressed the soaring need for better imaging, diagnosis and monitoring of patient health. Moreover, it helps physicians in real-time patient monitoring. This is the essence of XploreMR’s new publication titled “Ingestible Smart Pills Market: Global Industry Analysis and Forecast, 2016–2024.” While targeting geographies, the analysts have observed that currently, North America, Europe and Asia Pacific regions are target markets for major players in the global ingestible smart pills market. On the other hand, while researching the segments, the analysts have found that the imaging application segment dominated the global ingestible smart pills market in terms of revenue in 2016. The analysts have differentiated key player strategies and have understood that the global ingestible smart pills market is characterized by the presence of both small and large-scale players. Key players are focusing on collaborations between companies and research institutes, partnerships and licensing agreements among companies and increasing research and development investment in smart pills.
Key Industry Development
In July 2016, Milacron Holdings launched eSTORE representing Milacron and Ferromatik branded Milacron extrusion machines, Mold-Masters hot runners and control systems fulfilling customers’ orders in North America and Europe. In January 2014, Baker Perkins re-organized its sales and service functions for its extrusion business to ensure customers benefit from a single point of contact for a wide range of services. In March 2013, Thermo Fisher Scientific Inc., launched the Thermo Scientific Pharma 11, a new version of parallel co-rating twin-screw extruder designed specifically for pharmaceutical research.
Porter’s analysis makes this report exclusive
- The degree of competition is high in the ingestible smart pills market
- Despite its nascent stage, the ingestible smart pills market displays intense competitive rivalry among top players
- Competition among these players is high due to competitive edge such as superior quality, low price and advanced features of these devices
- Although the major players dominate the market, there are a number of small players who have their components in the late stage of clinical trials and can pose a high competition during the forecasted period
- The ingestible smart pills market is dominated by a few leading manufacturers. Therefore the buyers have limited alternatives to choose from, which decreases their bargaining power
- Technological advances in the healthcare industry compel device and software developers to manufacture and commercialize new and sophisticated component-based devices, which increases the threat of new entrants
Global Market Study on Ingestible Smart Pills: Smart Pills Segment by Component Likely to Retain Its Dominance Through 2024Buy Now
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