Smart Pills Market Analysis and Forecast to 2031: By Application (Capsule Endoscopy, Drug Delivery, Patient Monitoring), Target Area (Esophagus, Small Intestine, Large Intestine, Stomach), Disease Indication (Esophageal Diseases, Small Bowel Diseases, Col

Smart Pills Market Analysis and Forecast to 2031: By Application (Capsule Endoscopy, Drug Delivery, Patient Monitoring), Target Area (Esophagus, Small Intestine, Large Intestine, Stomach), Disease Indication (Esophageal Diseases, Small Bowel Diseases, Colon Diseases, Others), End User (Hospital, Diagnostic Center, Research Institute), and Region

The global smart pills market was valued at USD 4.2 billion in 2022 and it is anticipated to grow further till USD 14.3 billion by 2032, at a CAGR of 13.1% during the forecast period.

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.

Global Smart Pills Market Scope and Report Structure

Market Trends and Drivers

The market for smart pills is being driven by demand for cutting-edge drug delivery systems that offer advantages such optimal utilisation of the active pharmaceutical components, decreased dosage frequency, minimum adverse/side effects, targeted drug administration, and the safer carrier. Over the course of the projected period, the combination of cutting-edge technology, medical devices, and pharmaceuticals is anticipated to significantly enhance the market. It is anticipated that a sizable portion of the market for enhanced drug delivery systems will consist of patients with chronic conditions who must adhere to a specified medicine dosage at the target site.

Market Restraints and Challenges

The expensive cost of the ingestible sensors and strict government rules regarding the expanding use of these devices are the two reasons that are expected to slow the market's expansion.

Global Smart Pills Market Segmental Overview

The global smart pills market is segmented into application, target area, disease indication, end user, and region.

Global Smart Pills Market by Application

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. The key factors such as an increase in the geriatric population coupled with a rise in chronic disorders such as cancer, diabetes, and others are boosting the growth of the market.

Global Smart Pills Market by Target Area

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. The key factors such as a surge in the prevalence of lifestyle-related disorders such as obesity, gastroesophageal reflux disease, gastric ulcers, and others majorly drive the growth of the smart pills market.

Global Smart Pills Market by Disease Indication

Based on the disease indication, it is segmented into esophageal diseases, small bowel diseases, colon diseases, and others. The esophageal diseases segment is anticipated to dominate the market during the forecast period. The key factors such as increased R&D investment in developing smart pills are boosting the growth of the market.

Global Smart Pills Market by End User

Based on the end user, it is segmented into hospitals, diagnostic centers, and research institutes. The hospital end user segment is anticipated to dominate the market during the forecast period. The rise in technological advances pertaining to smart pills like bioelectronics, the availability of microprocessors, micro-cameras, miniaturization, and others are expected to offer lucrative opportunities in the upcoming years.

Geographical Analysis of the Global Smart Pills Market

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. 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.

Major Players in the Global Smart Pills Market

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.

COVID-19 Impact

The COVID-19 pandemic increased the use of smart pill testing and inventions as a result of industry participants' ongoing efforts to create goods that could aid in the disease's treatment. For instance, in an effort to combat the pandemic, the U.K. approved a potentially game-changing SARS-CoV-2 antiviral tablet in November 2021. The MHRA (Medicines and Healthcare products Regulatory Agency) of Britain has advised using the medicine molnupiravir in patients with mild to moderate COVID and at least one risk factor for the development of serious illness, such as heart disease, older age-related diabetes, and obesity.

Recent Developments

• 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.
• 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.
• 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.
• 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.

Frequently Asked Questions

Q1.

How big is the Smart Pills market?

Ans.

The global Smart Pills market size was USD 4.2 billion in 2022 and it is anticipated to grow further till USD 14.3 billion by 2032, at a CAGR of 13.1% from 2023 to 2032.

Q2.

What is the Smart Pills market growth rate?

Ans.

The growth rate of the Smart Pills market is 13.1%.

Q3.

Which region holds a major market share for the Smart Pills market?

Ans.

North America holds a major market share of the Smart Pills market in 2021.

Q4.

Which segment accounted for the largest Smart Pills market share?

Ans.

By end user, the hospitals segment accounted for the largest Smart Pills market share.

Q5.

Who are the key players in the Smart Pills market?
Ans. The global Smart Pills market report includes players such as 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.

Q6.

What are the factors driving the Smart Pills market growth?

Ans.

The major factors driving the growth of the market are the growing healthcare market in emerging countries.

Q7.

What are the key growth strategies of Smart Pills market players?

Ans.

The key growth strategies of Smart Pills market players are product launch and product approval.

Q8.

Which region will provide more business opportunities for the Smart Pills market during the forecast period?

Ans.

The Asia-Pacific region will provide more business opportunities for the Smart Pills market during the forecast period.

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