DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Smart Pill Technology Market 2012 2016" report to their offering.
One of the key factors contributing to this market growth is increasing prevalence of gastro-intestinal (GI) disorders. The Global Smart Pill Technology market has also been witnessing the trend of growing popularity of dental tourism. However, limited availability of smart pill technology devices could pose a challenge to the growth of this market.
Key vendors dominating this market space Given Imaging Ltd., Novartis AG, Olympus Medical Corp., and Philips Healthcare.
Other vendors mentioned in the report Medimetrics, Medtronic Inc.
TechNavio recognizes the following companies as the key players in the Smart Pill Technology Market: Novartis, Olympus Medical Systems Corp., and Given Imaging Ltd.
Commenting on the report, an analyst from TechNavio's Healthcare team said: ''The prevalence of GI diseases such as colorectal cancer and esophagitis has increased over time, leading to the need for screening procedures as many such diseases can be cured when detected early. It is estimated that colorectal cancer accounts for more than 10 percent of the total number of cancer cases worldwide. The increased need for screening for various GI diseases increases the scope for the usage of endoscopy devices. Moreover, since many healthcare institutions prefer endoscopes and smart pills for screening procedures for GI disorders, the growth of the market is expected to increase during the forecast period.''
According to the report, one of the key drivers in this market is the significant rise in the number of people suffering from GI disorders, which is mainly a result of changing lifestyles and food habits. Consequently, there has been an increase in the diagnosis and treatment of GI disorders.
Further, the report states that the lack of awareness about smart pill technology and its benefits is another key challenge faced by the vendors in this market.
The report also includes a discussion on the other prominent vendors in this market,such as Philips Healthcare, Medtronic Inc., and Medimetrics.
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