Smart Pills Market

Smart Pills Market

Smart Pills Market to Reach USD 14.3 billion by 2032, driven by the growth in investment in healthcare infrastructure across the globe: Global Insight Services

New York, July 2023: According to a new research study by Global Insight Services (GIS), the global Smart Pills market is expected to grow rapidly over the next 10 years to reach a value of more than USD 14.3 billion by 2032.

Small digital devices known as “smart pills” have a capsule-like shape and are supposed to conduct very complex tasks like sensing, imaging, and medicine administration. When swallowed, these capsules—which may contain a biosensor, an image sensor, a pH sensor, or a chemical sensor—travel along the gastrointestinal track to collect images that would be otherwise challenging to obtain. Additionally, smart pills come with a tiny wearable sensor patch that is linked to a provider portal and an app on a mobile device. These non-invasive tools have transformed how cancer and gastrointestinal problems are diagnosed and can take the place of more traditional diagnostic methods like endoscopy.

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Smart Pills Market: Key Trends and Drivers

One significant driver for the smart pills market is the growing demand for non-invasive and efficient drug delivery methods. Traditional oral drug administration often faces challenges, such as low patient compliance and inadequate absorption rates, which can affect treatment efficacy. Smart pills, equipped with innovative technologies like sensors and microprocessors, enable remote monitoring of medication intake, ensuring patients adhere to their prescribed regimens. Moreover, these pills can target specific areas within the body, releasing drugs at optimal locations for better absorption, thereby enhancing treatment outcomes. As healthcare providers and patients increasingly seek convenient and personalized healthcare solutions, the demand for smart pills is expected to rise, driving the growth of the smart pills market in the coming years.

Smart Pills Market: Restraints and Challenges

The rising concern over data privacy and security will restraint the smart pills market. Smart pills often utilize advanced technologies to track and transmit data, such as internal body conditions, medication adherence, and other vital health information. This real-time data collection raises apprehensions among consumers and healthcare professionals about potential breaches, unauthorized access, or misuse of sensitive medical data. Ensuring robust encryption, strict regulatory compliance, and implementing foolproof security measures are critical to address these concerns and gain trust in smart pill adoption. Failure to address these privacy and security issues adequately could hinder the widespread acceptance and adoption of smart pills, limiting their potential to revolutionize healthcare and patient monitoring.

Smart Pills Market Report Findings

The capsule endoscopy segment is anticipated to dominate the market during the forecast period

Based on the application, it is segmented into capsule endoscopy, drug delivery, and patient monitoring. The capsule endoscopy segment is anticipated to dominate the market during the forecast period. Capsule endoscopy, a non-invasive medical imaging technology that utilizes miniature wireless cameras embedded in ingestible capsules, enables physicians to visualize the gastrointestinal tract in unprecedented detail. This innovative approach has gained substantial traction due to its patient-friendly nature, eliminating the need for traditional endoscopic procedures that can be uncomfortable and invasive. With increasing prevalence of gastrointestinal disorders and rising demand for minimally invasive diagnostic techniques, capsule endoscopy is poised to experience substantial growth in the smart pills market, offering promising prospects for improved patient care and medical advancements in this domain.

The esophagus segment is anticipated to dominate the market during the forecast period

Based on the target area, it is segmented into the esophagus, small intestine, large intestine, and stomach. The esophagus segment is anticipated to dominate the market during the forecast period. Smart pills, equipped with cutting-edge sensor and imaging technologies, have shown great potential in revolutionizing the diagnosis and treatment of esophageal disorders, enabling healthcare professionals to obtain real-time insights into the patient’s gastrointestinal health. These smart pills can precisely target the esophagus, monitoring and detecting abnormalities, such as growths and lesions, with unprecedented accuracy and minimal invasiveness. As the global healthcare industry continues to prioritize early detection and personalized treatment options, the rising adoption of smart pills for esophageal target area segment growth holds promise in enhancing patient outcomes, streamlining medical procedures, and ultimately contributing to improved overall healthcare management.

The esophageal diseases segment is anticipated to dominate the market during the forecast period

Based on the disease indication, it is segmented into esophageal diseases, small bowel diseases, colon diseases, and others. The smart pills market is witnessing significant growth in the small bowel diseases segment due to the rising prevalence of gastrointestinal disorders and advancements in medical technology. Smart pills equipped with advanced sensors and wireless communication capabilities offer a non-invasive and real-time monitoring solution for small bowel diseases, providing valuable insights into the patient’s digestive health. These smart pills can detect abnormalities, inflammation, and other gastrointestinal conditions in the small bowel, facilitating early diagnosis and timely intervention. Additionally, the increasing adoption of smart pills by healthcare providers to improve patient outcomes and reduce the need for invasive procedures further propels the market growth in the small bowel diseases segment. As a result, the integration of smart pills into the management of small bowel diseases is anticipated to drive substantial market expansion in the coming years.

The hospital end user segment is anticipated to dominate the market during the forecast period

Based on the end user, it is segmented into hospitals, diagnostic centers, and research institutes. The hospital segment in the smart pills market has witnessed remarkable growth over recent years, fueled by the increasing adoption of advanced healthcare technologies and the rising prevalence of chronic diseases worldwide. Smart pills offer significant advantages in monitoring patient health, enabling real-time data collection, and improving diagnostic accuracy. Hospitals are increasingly embracing these innovative ingestible devices to enhance patient care, track medication adherence, and optimize treatment outcomes. Additionally, the integration of smart pill technologies into hospital settings has streamlined healthcare workflows, leading to improved patient management and operational efficiencies. With the continuous advancements in smart pill technology and a growing focus on patient-centric healthcare, the hospital segment is poised to experience further expansion, revolutionizing the way medical professionals diagnose and treat patients.

The North American region is anticipated to dominate the market during the forecast period

Region-wise, it is studied across the North America, Europe, Asia Pacific, and the Rest of the World. The North American region is anticipated to dominate the market during the forecast period. This is driven by advancements in healthcare technologies and an increasing emphasis on non-invasive and remote patient monitoring solutions. The region’s well-established healthcare infrastructure, coupled with a rising prevalence of chronic diseases and a growing elderly population, has further accelerated the adoption of smart pills as a promising diagnostic and therapeutic tool. Additionally, favorable government initiatives supporting digital health technologies and the presence of key market players investing in research and development have contributed to the region’s substantial expansion in the smart pills market. With a growing awareness among healthcare professionals and patients about the benefits of smart pills, North America continues to lead in this innovative sector, poised for continued growth and transformative impact on patient care and medical practices.

Moreover, medical researchers ongoing progress in the area of ingestible electronics is what is fueling this growth. The U.S. FDA and other regional agencies have been developing standards for obtaining approvals for digital smart tablets. Over the anticipated period, such actions are anticipated to fuel regional growth.

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Competitive Landscape

The key players studied in the report are Olympus Corporation, Proteus Digital Health Inc., CapsoVision Inc., MEDTRONIC, FUJIFILM Holdings Corporation, RF Co. Ltd., Check-Cap, BDD Limited, JINSHAN Science & Technology, and MEDISAFE among others.

Recent Developments

  • In January 2021, etectRx, Inc., entered into a partnership agreement with Pear Therapeutics, Inc., for the development of two product candidate in the CNS space integrating adherence sensors and PDTs. The partnership is the first of its kind in exploring the usage of digital pill solutions with PDTs.
  • In January 2019, Proteus Digital Health launched its first digital cancer chemotherapy pill in the market with an aim to help oncologists track treatment effectiveness and adherence in the cancer patient.
  • In October 2018, Proteus Digital Health expanded its partnership with Otsuka Pharmaceutical in order to continue the development and commercialization of its ingestible sensor pill platform.
  • In September 2017, Capso Vision Inc., announced the U.S. launch of Capso Cloud, a managing system that allowed physicians to extract data from the Capso Cam Plus smart pill eliminating the need to process capsule post-ingestion.

Smart Pills Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current global Smart Pills market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
  • A thorough analysis of market trends and restraints is provided.
  • Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
  • The forecasts in this report are made by examining the recent trends along with future Smart Pills market potential from 2022 to 2032 in terms of revenue.
  • Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Smart Pills market are also analyzed.
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global Smart Pills industry.

Global Smart Pills Market Segmentation

By Application

  • Capsule Endoscopy
  • Drug Delivery
  • Patient Monitoring

By Target Area

  • Esophagus
  • Small Intestine
  • Large Intestine
  • Stomach

By Disease Indication

  • Esophageal Diseases
  • Small Bowel Diseases
  • Colon Diseases
  • Others

By End User

  • Hospital
  • Diagnostic Center
  • Research Institute

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • The Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa

Key Players