Smart Pill Market Size Growth, Demand Analysis, Global Industry Research Trends, Manufacturers, Developments In Performances 2028

Global Smart Pill Market reached USD 1.12 Billion in 2018, to expand at a CAGR of 16.8% over the forecast period.

Demand for drug delivery systems having integral benefits such as targeted drug delivery, minimal side effects, optimal use of API, and reduced dosage frequency. With the integration of advanced technologies, innovative drugs, and medical devices into drug delivery systems, the demand for smart pills has surged considerably. People suffering from chronic diseases require specific dosage of medication, are the increasing target patient base of the smart pills market.

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There have been several studies and researches on smart pills for their potential use in diagnosis and in therapeutics of several chronic and acute diseases. Key players in emerging markets are keen on developing of innovative products, such as video endoscopy capsules, to get an early mover advantage.

The report provides information on the current scenario, detailed outlook on the global Regenerative Medicine market with thorough analysis of different segments which comprises of By Application (Product (Drug Delivery, Capsule Endoscopy, and Others), Tools, and Patient Monitoring), Operation (Monitoring and Imaging), End User (Ambulatory Surgery Centers & Hospitals, Independent Clinics, and Others).

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Recent trends of collaborations of local and global companies and the growing support of government and healthcare agencies are expected to have a synergistic effect on market growth. Such collaboration and exchange of technologies help in speeding up the development and boost the market competition.

• In December 2018, Stride Nutrition, which is a subsidiary of Pillsy, launched supplement subscription service of smart pills. The service includes a combination of adherence technology with various mail-order nutritional products.
• In September, 2019, eLucid mHealth, which is a leading healthcare technology company, granted US patents for its smart device Pill Connect. The device is used to monitor and cure the issues of non-adherence to medicines.
• Proteus, a digital medicine company, launched smart pills embedded with sensors and collaborate with the doctors, as a reminder for the pills. Also, it used to track activity levels. The company is planning to expand research and development for smart pills in cancer application.

Major Companies profiled in the report which are key players in the global Smart Pill market are Proteus Digital Health, Novartis AG, Medtronic, Inc., Boston scientific, Smart Pill, Inc., IntroMedic Co. Ltd., Bio-Images Research Limited, JINSHAN Science and Technology, and CapsoVision, Inc. among others.

Regional Analysis

North America is expected to account for the highest market share in the global smart pill market and further estimated to increase its share in the market over the forecast period. The growth of the region is primarily driven due to rapid growth in the geriatric population and an increase in disease complexities along with the developed health care infrastructure supported by government subsidiaries and the presence of key leading manufacturing companies.

The Asia-Pacific region is expected to hold the highest growth rate in the market during the forecast period owing to the growth in the population base, wide presence of local manufacturers in China, India, and Japan. According to the World Cancer Research Fund International, Japan ranks third among Asian countries in prevalence of stomach cancer. Increasing prevalence of target diseases along with growing government support is expected to create suitable growth opportunities in Japan.

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Also, the rise in disposable income of people and technological advancement in the healthcare industry are further enhancing the growth of the smart pill in the region in the future.

An Overview of the report
1. The report offers insights on the global overview of the Smart Pill market
2. The recent market developments are scrutinized to project latest trends along with growth rate projections
3. Deeper understanding of the competitive landscape of the major companies operating in the market
4. New Opportunities and challenges for the global Smart Pill market
5. Study of innovation and technological advancements in the industry

Analysts have undertaken research based on in-depth understanding of the market with qualitative and quantitative data. The market has been segmented into various segments such as product and room type along with regional analysis. The segments and sub-segments offer insights on current and potential growth trajectories.

Market Segmentation:

By Application
• Product
• Capsule Endoscopy
• Drug Delivery
• Others
• Tools
• Patient Monitoring

By Operation
• Imaging
• Monitoring

By End User
• Hospitals and Ambulatory Surgery Centers
• Independent Clinics
• Others

By Region:

North America
o By Country (US, Canada, Mexico)
o By Application
o By Operation
o By End User

Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Application
o By Operation
o By End User

Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Application
o By Operation
o By End User

Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Application
o By Operation
o By End User

Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Application
o By Operation
o By End User

Rest of the World
o By Region (South America, Africa)
o By Application
o By Operation
o By End User

Customization:

We provide customization of the study to meet specific requirements:
• By Segment
• By Sub-segment
• By Region/Country

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This release was published on openPR.