USD 866.61 billion
Global Smart Pills Technology Market Size, Share, Growth Analysis, By Application(Capsule Endoscopy, Patient Monitoring), By Target Area(Esophagus, Stomach), By Disease(Crohn’s Disease, Celiac Disease), By End User(Hospital & Specialty Clinics, Diagnostic) - Industry Forecast 2024-2031
Report ID:
SQSG35H2020 |
Region:
Global |
Published Date: February, 2024
Pages:
264
|
Tables:
121 |
Figures:
76
Global Smart Pills Technology Market Insights
Global Smart Pills Technology Market size was valued at USD 866.61 billion in 2019 and is poised to grow from USD 944.57 billion in 2023 to USD 7500 billion by 2031, growing at a CAGR of 8.8% in the forecast period (2024-2031).
Smart pills are small digital devices described as having a capsule-like shape and design and possessing highly developed capabilities including sensing, imaging, and medicine delivery. These capsules, which may include a biosensor, an image sensor, a pH sensor, or a chemical sensor, travel down the gastrointestinal tract after being eaten to get pictures that would be otherwise challenging to obtain. Another feature of smart pills is a tiny wearable sensor patch that connects to a provider portal and an app on a mobile device. These non-invasive tools can take the place of traditional diagnostic methods like endoscopy and have transformed the way that cancer and gastrointestinal illnesses are diagnosed.
The development of digital health technologies has long focused on improving medication adherence. One such example is the use of smart pills to identify gastrointestinal conditions including gastroparesis and constipation. This technique consists of a wireless capsule that analyses and organises the data, computer software, and a receiver worn by the patient. The system's main purpose is to record the patient's pharmaceutical regimen together with data on other factors including pressure, temperature, and stomach pH. The pill is powered by batteries, and the pill transmits signals back to it using the power of stomach juices. The data contains crucial details including the patient's pulse rate, body temperature, and digesting time. The information is transferred to a mobile application that doctors use to monitor and diagnose patients with great flexibility.
US Smart Pills Technology Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Capsule Endoscopy
Fastest Growth
Patient Monitoring
Growth Rate
8.8% CAGR
Global Smart Pills Technology Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Smart Pills Technology Market Size By Application, 2021-2028 ($ Bn)
Global Smart Pills Technology Market Size By Application, 2021-2028 (%)
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Global Smart Pills Technology Market Segmental Analysis
Smart Pills Technology Market is segmented based on the Application, target area, disease, end user, and region. According to application, the Smart Pills Technology Market is sub segmented into Capsule Endoscopy, Patient Monitoring and Drug Delivery. Based on target area, the Smart Pills Technology Market is segmented into Esophagus, Stomach, Small Intestine and Large Intestine. On the basis of disease, Smart Pills Technology Market is sub segmented into Crohn’s Disease, Celiac Disease, Inherited Polyposis Syndromes, Small Bowel Tumors, Occult GI Bleeding and others. According to end user the Smart Pills Technology Market is sub segmented into Hospital & Specialty Clinics, Diagnostic and Research Centers. Based on Region, Smart Pills Technology Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Smart Pills Technology Market Analysis by Application
The capsule endoscopy segment held the largest Global Smart Pills Technology Market share in 2021. The capsule endoscopy segment is further sub segmented into Small Bowel Video Capsule Endoscopy and Colon Capsule Endoscopy. This expansion is mostly due to increased research efforts and financing from different organisations, along with growing acceptance by the world's healthcare sector to boost the effectiveness and simplicity of endoscopic operations. Capsule endoscopy is a crucial application field since smart tablets are used to treat GI tract disorders such Crohn's disease, unidentified GI haemorrhage, celiac disease, and small bowel tumours. The conventional colonoscopy scopes are uncomfortable for the patients. This has led to an increase in the demand for smart medications. For some indications, these tablets are anticipated to displace conventional endoscopy since they have transformed the way gastrointestinal illnesses are diagnosed.
The patient monitoring segment is expected to grow at a high CAGR during the forecast period. The major drivers for market growth in the next years range from an increase in awareness of issues linked to medication non-adherence.
Smart Pills Technology Market Analysis by Disease
The sector with the largest revenue in 2021 was Barrett's esophageal disease, and it is anticipated that it will continue to dominate the market for the whole forecast period. In the next years, market growth is predicted to be driven by the rise in the prevalence of gastrointestinal illnesses. The most common cause of Barrett's oesophagus is prolonged exposure to stomach acid. The majority of those with chronic gastro-oesophageal reflux disease are diagnosed with it.
From the Crohn's disease category, the smart pill technology market is predicted to see significant development through the forecast period. For instance, in the IBD (Inflammatory Bowel Diseases) Journal in January 2021, SmartTab published their article titled "Advancing High Tech Drug Delivery Systems for the Treatment of Crohn's Disease." In order to optimally deliver the medicinal contents to the designated sections of the GI tract, the company's capsule technology uses radio frequency (RF) signalling.
Global Smart Pills Technology Market By Application, 2021 (%), 2023 (%)
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Global Smart Pills Technology Market Regional Insights
North America dominated the Global Smart Pills Technology Market share in 2021. This can be attributed to factors such increase in colorectal cancer incidence, technical developments in the healthcare industry, and the regulatory clearance of new medicines. All of these elements are anticipated to present growth prospects for the regional players. Some of the key elements that are anticipated to propel North America to the forefront of the smart pill market growth include the expanding elderly population, complexity of numerous diseases, and presence of a strong healthcare infrastructure. The region's R&D initiatives are also anticipated to boost market expansion. Additionally, other factors driving market growth in this region include the rising demand for smart pill technologies, uptake of novel technologies, wide patient population, high disposable income, and innovative marketing and commercialization strategies for smart pill products.
Asia Pacific Smart Pill Technology market is expected to grow the fastest during the forecast period on account of the increasing healthcare awareness. Although the technology of smart pills is still relatively new in the Asian market, rising corporate investments, shifting reimbursement policies, and funding for endoscopic research in this region will propel market expansion. The other significant factors that will affect the expansion of the smart pill technology market in the Asia Pacific are the rising incidence of stomach and gastrointestinal problems in the region and the expanding assistance of the regional government bodies to establish a decent healthcare infrastructure.
Global Smart Pills Technology Market By Geography, 2021-2028, 2024-2031
- Largest
- Fastest
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Global Smart Pills Technology Market Dynamics
Smart Pills Technology Market Driver
- The demand for smart pill technologies is anticipated to increase significantly in the coming years as a result of the rising prevalence of gastrointestinal diseases (such as motility disorders, colon cancer, obscure gastrointestinal bleeding, and Crohn's disease), sedentary lifestyle, and high patient compliance as a result of minimally invasive techniques.
- Additionally, the smart pill technology market would be further boosted by the evolving syndromes and illnesses linked to lifestyle. The penetration of developed and developing nations will also be aided by rising disposable income to purchase the novel technologies that are emerging in the market for smart pills. This will significantly affect the smart pill technology market. The market will also be driven by the growing elderly population, who is more prone to IBD, Ulcerative colitis, and Crohn's disease.
Smart Pills Technology Market Restraint
- The development of the market is being hampered despite the many advantages that the technology behind smart tablets offers. These hurdles include the lack of technological sophistication in capsule endoscopes and patient anxiety about ingesting a microchip. Furthermore, high cost of the ingestible sensors and strict government rules regulating the expanding usage of these devices are expected to limit market expansion.
- The smart pills technology market may be constrained by high cost connected with them and insufficient reimbursement regulations in developing nations to provide complete coverage to patients. Additionally, strict government rules around their use and the technological limitations of various smart pill situations are impeding their uptake throughout the projection period.
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Global Smart Pills Technology Market Competitive Landscape
Global Smart Pills Technology Market is mildly fragmented and moderately competitive. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. Major players include Medtronics, Capso Vision Inc., Olympus Corporation, Pentax Medical (Hoya) and etectRx. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Smart Pills Technology Market Top Player's Company Profiles
- Medtronic plc
- Philips Healthcare
- Olympus Corporation
- Boston Scientific Corporation
- CapsoVision, Inc.
- GE Healthcare
- Fujifilm Holdings Corporation
- IntroMedic Co., Ltd.
- Medisafe
- Given Imaging Ltd.
- Vitality, Inc.
- MC10 Inc.
- Johnson & Johnson
- Siemens Healthineers
- Novartis AG
- Becton, Dickinson and Company
- Proteus Biomedical, Inc.
- Pentax Medical
- Microchips Biotech, Inc.
Smart Pills Technology Market Recent Developments
- In September 2022, with the release of its brand-new HB Smart Pills Management System, HealthBeacon plc, the industry leader in digital therapeutics for injectable pharmaceuticals, has expanded the scope of its platform to handle challenging and essential pill regimens. Up to nine oral drugs may be managed by the stylish HB Smart Pills solution, which is meant to fit into a patient's home and works smoothly with the company's current technology platform. The cutting-edge HB Smart Pills technology alerts the patient when prescription refills are necessary and captures pictures of pill containers to monitor medication compliance.
- In January 2021, Pear Therapeutics, Inc. and etectRx, Inc. partnered to develop two product candidates for the CNS market that include adherence sensors and PDTs (Prescription Digital Therapeutics). The collaboration is the first of its type to examine how to use PDTs and digital pill solutions.
Global Smart Pills Technology Key Market Trends
- The Smart Pill Expert System (SPES) uses AI-IoT technologies to automate the administration of pills and has a good user interface. SPES's mission is to serve every person and institution that depends on medication by offering expertise in real-time diagnosis. Medical Non-Adherence (MNA) is a significant contributor to lengthy healing times, financial difficulties, and early mortality. This device is designed to be used in nursing homes, hospices, and home healthcare facilities. It can concurrently meet the demands of one user and several users. Family members, nurses, and medical professionals may follow and monitor users continually thanks to APT and online services. SPES has a failure rate of less than 5% due to little human interaction. The system's primary objective is to give the appropriate drug to the appropriate patient at the appropriate time. The SPE System's major benefit is its ability to accommodate numerous users concurrently and regulate and "monitor operations to prevent any faults from occurring. The SPES offers a physical dispensation that is simple to maintain together with a chatbot that uses artificial intelligence to predict users' health and can respond to their questions. A reliable, secure mechanism for user authentication and authorisation has been implemented into the proposed system. The health care chatbot's performance in administering medications and accuracy of answers is superior to that of its current counterparts.
Global Smart Pills Technology Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Smart Pills Technology Market analysis, the prevalence of lifestyle-related disorders like gastrointestinal reflux diseases (GERD), gastric ulcers, and others is rising along with the incidence of chronic diseases like colorectal and breast cancer. These are some of the key factors driving the demand for advanced treatment options. Advanced capsule endoscopy, targeted medication administration, and simple remote patient monitoring are a few advantages provided by smart pills that are leading to an increase in their use in the treatment of patients with cancer and gastrointestinal illnesses.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 866.61 billion |
| Market size value in 2031 | USD 7500 billion |
| Growth Rate | 8.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Smart Pills Technology Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Smart Pills Technology Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Smart Pills Technology Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Smart Pills Technology Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Smart Pills Technology Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Smart Pills Technology Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Smart Pills Technology Market Report Snapshots
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