USD 866.61 billion
Report ID: SQSG35H2020 | Region: Global | Published Date: February, 2024 | Pages: 264 | Tables: 121 | Figures: 76
Global Smart Pills Technology Market size was valued at USD 866.61 billion in 2021 and is poised to grow from USD 944.57 billion in 2022 to USD 7500 billion by 2030, growing at a CAGR of 8.8% in the forecast period (2023-2030).
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.
Global Market Size
USD 866.61 billion
To get more reports on the above market click here to Buy The Report
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.
To get detailed analysis on other segments, Request For Sample Report
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.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Smart Pills Technology Market Driver
Smart Pills Technology Market Restraint
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
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
Smart Pills Technology Market Recent Developments
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.
|Market size value in 2021
|USD 866.61 billion
|Market size value in 2030
|USD 7500 billion
|Forecast Unit (Value)
|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)
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
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.
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.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.