Smart Pills Market is anticipated to grow further till USD 14.3 billion, at a CAGR of 13.1% during the forecast period 2022-2031

The global smart pills market was valued at USD 4.2 billion in 2022 and it is anticipated to grow further till USD 14.3 billion by 2032, at a CAGR of 13.1% during the forecast period.

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Small digital devices known as "smart pills" have a capsule-like shape and are supposed to conduct very complex tasks like sensing, imaging, and medicine administration. When swallowed, these capsules-which may contain a biosensor, an image sensor, a pH sensor, or a chemical sensor-travel along the gastrointestinal track to collect images that would be otherwise challenging to obtain. Additionally, smart pills come with a tiny wearable sensor patch that is linked to a provider portal and an app on a mobile device. These non-invasive tools have transformed how cancer and gastrointestinal problems are diagnosed and can take the place of more traditional diagnostic methods like endoscopy.

Market Trends and Drivers:

The market for smart pills is being driven by demand for cutting-edge drug delivery systems that offer advantages such optimal utilisation of the active pharmaceutical components, decreased dosage frequency, minimum adverse/side effects, targeted drug administration, and the safer carrier. Over the course of the projected period, the combination of cutting-edge technology, medical devices, and pharmaceuticals is anticipated to significantly enhance the market. It is anticipated that a sizable portion of the market for enhanced drug delivery systems will consist of patients with chronic conditions who must adhere to a specified medicine dosage at the target site.

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Global Smart Pills Market Segmentation:

By Application:
• Capsule Endoscopy
• Drug Delivery
• Patient Monitoring

By Target Area:
• Esophagus
• Small Intestine
• Large Intestine
• Stomach

By Disease Indication:
• Esophageal Diseases
• Small Bowel Diseases
• Colon Diseases

By End User:
• Hospital
• Diagnostic Center
• Research Institute

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COVID-19 Impact:

The COVID-19 pandemic increased the use of smart pill testing and inventions as a result of industry participants' ongoing efforts to create goods that could aid in the disease's treatment. For instance, in an effort to combat the pandemic, the U.K. approved a potentially game-changing SARS-CoV-2 antiviral tablet in November 2021. The MHRA (Medicines and Healthcare products Regulatory Agency) of Britain has advised using the medicine molnupiravir in patients with mild to moderate COVID and at least one risk factor for the development of serious illness, such as heart disease, older age-related diabetes, and obesity.

Major Players in the Global Smart Pills Market:

The key players studied in the report are Olympus Corporation, Proteus Digital Health Inc., CapsoVision Inc., MEDTRONIC, FUJIFILM Holdings Corporation, RF Co. Ltd., Check-Cap, BDD Limited, JINSHAN Science & Technology, and MEDISAFE among others.

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This release was published on openPR.