Overview and Scope
Smart pills are used to deliver medication and are equipped with electronic sensors that emit signals to be captured by patches or smartphones when they are swallowed. These pills ensure drug regimen compliance and help track medication adherence of patients.
Sizing and Forecast
The smart pills market size has grown rapidly in recent years. It will grow from $4.98 billion in 2023 to $5.53 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to medication adherence, chronic disease management, clinical trials and research, aging population.
The smart pills market size is expected to see rapid growth in the next few years. It will grow to $8.49 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to remote patient monitoring, regulatory and quality standards, clinical trials and research, digital health integration. Major trends in the forecast period include wireless health monitoring, diagnostic and imaging capsules, data analytics and artificial intelligence, smart pill sensors, miniaturization and biocompatibility.
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Segmentation & Regional Insights
The smart pills market covered in this report is segmented –
1) By Target Area: Esophagus, Stomach, Small Intestine, Large Intestine
2) By Disease Indication: Esophageal Diseases, Colon Diseases, Small bowel Diseases, and Other Disease Indications
3) By Application: Capsule Endoscopy, Patient Monitoring, Drug Delivery
4) By End User: Hospital, Diagnostic Center, Research Institute
North America was the largest region in the smart pills market in 2023. Western Europe was the second-largest region in the smart pills market analysis. The regions covered in the smart pills market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing preference for non-invasive procedures is driving the smart pills market. The non-invasive procedures are diagnostic and treatment procedures that do not require an incision on the body or removal of tissues for the treatment or diagnosis. Smart pill is a wireless, ingestible capsule that can be easily swallowed and has a wide range of applications in capsule endoscopy, drug delivery, and patient monitoring. For instance, smart pills have key applications in diagnostic imaging such as capsule endoscopy. The capsule endoscopy is a diagnostic procedure in which a smart pill (capsule enclosed micro-camera) is swallowed and images of the esophagus, stomach, and small intestine can be taken as the device pass through your gastrointestinal (GI) tract. Smart pills have revolutionized the diagnosis of gastrointestinal disorders and could replace conventional diagnostic techniques such as endoscopy. Therefore, non-invasive procedures are driving the smart pills market during the period.
Key Industry Players
Major companies operating in the smart pills market include Medtronic plc, Olympus Corporation, CapsoVision Inc., Novartis AG, Proteus Digital Health Inc., Koninklijke Philips N.V., MicroCHIPS Inc., Bio-Images Drug Delivery (BDD) Ltd., Given Imaging Ltd., Vitality Inc., Boston Scientific Corporation, HQ Inc., Fujifilm Holdings Corporation, General Electric Company, Check-Cap Ltd., IntroMedic Co. Ltd., Jinshan Science & Technology Co. Ltd., PENTAX Medical, etectRx Inc., Pixie Scientific HQ Inc., ANX Robotica Corp., RF Co. Ltd., Shenzhen Jifu Medical Technology Co. Ltd., Otsuka America Pharmaceutical Inc., Medimetrics Personalized Drug Delivery B.V., Smart Pill Inc., Medisafe Inc., AdhereTech LLC, TabSafe Medical Services Inc.
The smart pills market report table of contents includes:
1. Executive Summary
2. Smart Pills Market Characteristics
3. Smart Pills Market Trends And Strategies
4. Smart Pills Market – Macro Economic Scenario
5. Global Smart Pills Market Size and Growth
…..
31. Global Smart Pills Market Competitive Benchmarking
32. Global Smart Pills Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Smart Pills Market
34. Smart Pills Market Future Outlook and Potential Analysis
35. Appendix
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