USD 5.33 Billion
Smart Pills Market Size, Share, Growth Analysis, By Application(Capsule Endoscopy, Targeted Drug Delivery, Vital Sign Monitoring), By Target Area(Esophagus, Small Intestine, Large Intestine, Stomach), By End-Users(Hospitals, Diagnostic Centers, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35I2313 |
Region:
Global |
Published Date: August, 2024
Pages:
219
|Tables:
92
|Figures:
76
Smart Pills Market Insights
Global Smart Pills Market size was valued at USD 4.7 Billion in 2022 and is poised to grow from USD 5.32 Billion in 2023 to USD 13.95 Billion by 2031, at a CAGR of 12.8% during the forecast period (2024-2031).
The increasing prevalence of chronic diseases and the need for better medication control are driving the growth of the smart pills market. The number of people suffering from chronic diseases such as heart disease, diabetes and respiratory problems is rapidly increasing worldwide. Patients with chronic disease should follow long-term regimens and strict adherence to treatment regimens. Patients will end up with poor medical outcomes, higher healthcare costs, complications for patients, etc. Medicine incorporates digital technology and uses smart medicines use to maintain medication tracking. Smart pills incorporate sensors, microchips, wireless communication capabilities and help patients with healthcare professionals and real-time data to understand information such as duration, dosage, other relevant parameters. The importance of medication compliance is increasing.
Other important growth factors of the smart pill technology market include attractive payment scenarios, patient demand for less invasive procedures, technological advancements in endoscopy techniques and the benefits of smart pill technology, such as improvements in endoscopic procedures driving the commercialization of smart drug technologies.
Patients and healthcare professionals are increasingly seeking more effective treatments, fueling the demand for new approaches such as smart medicine. Additionally, the combination of artificial intelligence and smart pill technology improves data analytics performance, facilitating early diagnosis, precise treatment and prevention strategies.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Capsule Endoscopy
Fastest Growth
Capsule Endoscopy
Growth Rate
12.8% CAGR
Global Smart Pills Market ($ Bn)
Country Share for North America Region (%)
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Smart Pills Market Segmental Analysis
Global smart pills market is segmented on the application, target area, end-user and region. Based on application, the market is segmented into capsule endoscopy, targeted drug delivery, and vital sign monitoring. Based on target area, the market is segmented into esophagus, small intestine, large intestine, and stomach. Based on end-users, the market is segmented into hospitals, diagnostic centers, and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Smart Pills Market Analysis by Target Area
Small intestine dominated the smart pills market and had the largest revenue share in 2023. Growing demand for non-invasive diagnostic tools driven by rising intestinal diseases, such as Crohn's and celiac diseases and advancements in capsule endoscopy technology further increase the market potential. In addition, the complex anatomy of the small intestine poses challenges for traditional gastrointestinal screening methods, making smart drugs an attractive alternative. All these factors combine to expand the use of smart drugs used and recognized in gastrointestinal health care. The small intestine is important in the smart pills market, especially as target areas for edible sensors and gastrointestinal drugs. Smart pills designed for these segments monitor body on a variety of parameters, such as pH levels, temperature and mobility, providing valuable insights into gastrointestinal health and irritable bowel syndrome (IBS).
The stomach is expected to grow significantly over the forecast period. Community therapy for gastrointestinal diseases such as colitis, Crohn's disease, and gastric cancer and for the systemic diseases such as diabetes mellitus, rheumatoid arthritis and vaccination requires an effective drug delivery system to remove natural gastrointestinal barriers. Capsules for the small intestine and stomach auxiliary can also be used to deliver drugs, allowing them to release drugs administered at a specific time or place. This accuracy improves therapeutic effectiveness and reduces side effects, making these segments crucial for patient-centric innovations within the global smart pills market.
Smart Pills Market Analysis by Application
Capsule endoscopy dominated the global smart pills market and accounted for the largest share of the revenue at 54.1% due to the painless method of diagnosing gastrointestinal diseases. This procedure requires the patient to swallow a large vitamin pill capsule which is wireless and equipped with cameras and smaller sensors. It is compact to support its detection and tracking purposes, so the procedure causes fewer problems, and provides quick and painless relief. The advantages of smart medicines, efficient health monitoring in terms of physiological parameters and accurate diagnosis lead to the expansion of global smart pills market.
Drug dispensing is the fastest growing segment in the smart pills market. Drug dispensing witnessed a CAGR of 11.1% during the forecast period due to structural improvements of the healthcare sector, patient awareness of chronic disorders and advanced delivery methods, such as because of devices that facilitate self-medication. The process is expected to increase the global demand for new, better drug delivery systems that are easier for more patients as well. The drug delivery segment plays an important role in the smart pills market, driving innovation in standard drug delivery and adherence solutions. Drug delivery technology is embedded in smart medicines, enabling precise, controlled release of drugs from the body, allowing healthcare providers to monitor and adjust dosages as needed and for optimal treatment. This ability is especially important for chronic conditions that require strict medication control such as diabetes and heart disease.
Global Smart Pills Market By Target Area (%)
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Smart Pills Market Regional Insights
The North America region in the smart pills market dominated the global market and accounted for the largest revenue share of 37.5% in 2023 driven by rising chronic diseases, especially gastrointestinal disorders and cancer associated with patient care improved. The advanced technologies, a large and discerning customers, regulatory approvals for new devices further expand the market besides the presence of key industry players creates a favorable environment for products. At the same time, the FDA plays a key role in shaping the market by approving cutting-edge technologies that revolutionize remote health monitoring. The smart pills market dominated the market and achieved the highest revenue in 2023. The increasing demand for medicines drives this growth increasing diseases, and technological advancements.
The Asia-Pacific region in the smart pills market is expected to grow at a CAGR of 12.7% during the forecast period, driven by factors such as increasing demand for minimally invasive surgery, leading to new procedures such as capsule endoscopy. It turned out that advantages such as convenience to provide and comprehensive examination of the gastrointestinal tract, capsule endoscopy will replace traditional techniques, and help the market grow. The smart pill market in China accounted for the largest share of revenue in 2023 driven by chronic side effects and smart pills designed for delivery to specific areas in the food chain or to monitor, detect vital signs, and provide time feedback. China’s emphasis on digital healthcare, Artificial Intelligence (AI) and Internet of Things (IoT) integration into the healthcare industry is fueling the growth and adoption of smart pill technology. Smart Pill technology aims to improve patient care by enhancing diagnostic capabilities, improving treatment accuracy and enabling remote health monitoring.
Global Smart Pills Market By Geography
- Largest
- Fastest
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Smart Pills Market Dynamics
Smart Pills Market Drivers
Digital Health Revolution Accelerates Smart Pill Adoption
- Integration of digital technologies in healthcare is a key driver for the smart pills market. With increasing demand for patient-centered care and real-time health monitoring, smart medicines offer innovative solutions that combine medication adherence with data monitoring. The unique advantages of smart medicines are degradation data, such as pH levels, temperature, and other physiological parameters, can be transmitted directly to healthcare providers. This allows physicians to better monitor patients, improve compliance, and reduce the possibility of medication errors implemented in the field. This rise in personalized precision medicine is pushing healthcare providers and physicians to invest in and adopt smart pharmaceutical solutions, which is the trend towards digital health solutions meet.
Aging and Population Growth and Chronic Diseases Are Driving Demand
- The increasing prevalence of chronic diseases, especially in the elderly population, is further increasing the demand for smart medicines. There are many elderly individuals who require routine medications for diseases such as cardiovascular issues, diabetes and gastrointestinal conditions, so adherence to prescribed medications is important. Smart pills for oral medication provide to improve medication adherence allowing caregivers and physicians to monitor whether patients are taking as prescribed.
Restraints
Increasing Debt Limits Broad Coverage
- Although smart medicine offers variable benefits, its high cost is a major barrier to widespread adoption. These devices require sophisticated electronics such as sensors, microchips, and wireless transmitters, increasing the manufacturing cost and expensiveness in the market. Consequently, these costs make smart medicine unaffordable, especially in low- and middle-income settings where healthcare budgets are tight. Furthermore, the lack of clear reimbursement policies for digital health technologies such as smart medicines for healthcare providers and insurers further compounds the challenge.
Data Privacy and Security Issues
- Smart pills generate a wealth of sensitive patient information, making individuals aware of potential privacy risks. Since these devices transmit health information via wireless networks, there are concerns about data security breaches that could compromise patient privacy. Data privacy laws such as GDPR in Europe and HIPAA in the United States sets high standards for handling patient data, making regulatory compliance and expensive process for companies involved in smart pill development. The need for action includes costs and complexities, which can prevent small firms from entering the market and slow down innovation in the sector.
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Smart Pills Market Competitive Landscape
The competitive environment in the smart pills market is dynamic, driven by advances in healthcare technology and growing interest in non-invasive diagnostic solutions. Strategic collaborations, partnerships and acquisitions are commonplace the extent of the department to make, and access growing markets. Companies are also investing in research to develop new products, such as swallowable sensors, capsules with integrated cameras, that meet the growing demand for more accurate and patient-friendly healthcare solutions role. This competitive environment fosters steady growth and market expansion worldwide.
Top Player’s Company Profiles in Smart Pills Market
- Medtronic PLC (Ireland)
- Proteus Digital Health Inc. (US)
- CapsoVision Inc. (US)
- Olympus Corporation (Japan)
- Medisafe (US)
- Bio-Images Research Limited (UK)
- BodyCap (France)
- Given Imaging Ltd. (Israel)
- Philips Healthcare (Netherlands)
- Medimetrics Personalized Drug Delivery B.V. (Netherlands)
- PENTAX Medical (Japan)
- Proteus Biomedical (US)
- Check-Cap Ltd. (Israel)
- Smart Pill Corporation (US)
- IntroMedic Co. Ltd. (South Korea)
- Acamp AG (Switzerland)
- Olympus Medical Systems Corporation (Japan)
- Medisim Ltd. (Israel)
- Medtronic Inc. (US)
- Medimetrics S.A. (Belgium)
- H.Q. Inc. (US)
- AstraZeneca PLC (UK)
- Novartis AG (Switzerland)
- EtectRx, Inc. (US)
- Innovative Health Solutions, Inc. (US)
- Boston Scientific Corporation (US)
Smart Pills Market Recent Developments
- In April 2024, PENTAX Medical EMEA released the innovative Digital Capture Module 9380 to optimize medical recording in ENT and speech-language pathology packages. This compact and portable tool gives the advanced and scalable recording systems that meet the evolving wishes of healthcare specialists. The 9380 units new benchmarks in clinical imaging generation with multi-camera source video recording, seamless recording playback functionality, and the intuitive software program interface
- In February 2023, AnX Robotica Corp. (US) released the NaviCam Small Bowel System in the United States. The NaviCam SB System uses spherical lens ear to lessen distortion and increase the sector of view, which is fundamental in the prognosis of intestinal disorder
- In November 2021, the U.S. The FDA has granted 510(k) clearance for its PillCam Small Bowel 3 system for remote endoscopy procedures
- In October 2021, Check-Cap (Israel) expanded C-Scan's manufacturing capacity and on-premises production line, as well as troubleshooting technical issues from a single supply point. The company expanded its production line largely to support the US. the pivotal research
Smart Pills Key Market Trends
- Advances in Sensor Technology Transforming Smart Drugs: Smart drugs are becoming more efficient and capable of monitoring more health data to rapid advances in micro-sensor technology. Modern smart tablets now have very small sensors that can collect detailed gastrointestinal data, including mobility, acid levels, and real-time drug absorption. They are repositioned as an autonomous tool important for behavioral development.
- Innovations Driving Increased Drug Sharing: Collaboration between pharmaceutical companies and digital health technology companies is accelerating the development of smart drugs. Such partnerships combine pharmaceutical expertise with advanced sensor technology, resulting in integrated solutions that match market demand. For example, collaborations to develop edibles that improve not only medication adherence, but also physiological response are becoming more common, driving innovation and helping pharmaceutical companies expand their business.
Smart Pills Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the smart pills market is leading the digital transformation of healthcare, delivering solutions that improve medication adherence, optimize chronic disease management, and provide real-time insight into patient health. An aging global population and increasing chronic conditions are increasing the demand for remote sensing solutions such as smart medicine management, while healthcare professionals and all patients seek ways to increase treatment adherence We are moving forward, as regulatory frameworks evolve to accommodate the evolution of digital health and as costs can come down as technological advances are anticipated will be central to sustainable service. This evolution not only enhances patient outcomes, but contributes to healthcare that continues to be preventative, data-driven and patient-centred.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.7 Billion |
| Market size value in 2031 | USD 13.95 Billion |
| Growth Rate | 12.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| 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:-
|
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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 Smart Pills 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 Smart Pills 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 Smart Pills 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 Smart Pills 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 Smart Pills Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Smart Pills 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.
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