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Smart Pills Market Size Projected to Reach USD 1.2 Billion by 2030 Trends and Growth

02-16-2024 11:28 AM CET | Health & Medicine

Press release from: SNS Insider Pvt Ltd

Smart Pills Market

Smart Pills Market

The SNS Insider report indicates that the Smart Pills Market was valued at USD 0.5 billion in 2022, and is expected to reach market size of USD 1.2 billion by 2030, with a compound annual growth rate (CAGR) of 11.6% expected over the forecast period from 2023 to 2030.

Based on SNS Insider's research, to improve disease management and allow earlier identification of potential complications that lead to improved patient outcomes, intelligent pills provide a new approach.

Get sample PDF Of Smart Pills Market Report@ https://www.snsinsider.com/sample-request/3662

The Major Key Players In Smart Pills Market

→Chongqing Jinshan Science Technology (Group) Co., Ltd,

→RF Co., Ltd,

→etectrx,

→BodyCap,

→CapsoVision, Inc.,

→Medtronic plc,

→Check-Cap Ltd.,

→IntroMedic,

→ANX Robotica Corp.,

→Olympus Corporation, Shenzen

Smart Pills Market Report Scope -

The increasing popularity of miniaturized smart pills for realtime detection of biomarkers is a recent trend in the market. In real time, this innovative smart pill is capable of detecting and reporting key biological molecules, which could indicate bowel disease. With electronics and a small battery, the smart pill is a combination of specially engineered living bacteria and electronics.

Smart Pills Market Growth Factors -

Advanced drug delivery methods are in high demand which is a major driving factor for the market
This market is experiencing growth in medication delivery systems with essential support, e.g. adversive effects, couturier drug administration, increased API consumption and reduced dosing frequency. This has led to the integration of advanced medicines, modern technologies, and medical devices into drug delivery systems, which are at the forefront of the development of smart pills. The primary patient population for Smart tablets would probably be people with persistent conditions who are required to follow a stringent treatment regimen.

Smart Pills Segmentation Analysis -

By Application
→Capsule Endoscopy
→Drug Delivery
→Patient Monitoring

By Target Area
→Esophagus
→Small Intestine
→Large Intestine
→Stomach

By End User
→Hospitals
→Diagnostic Centers
→Other End User

The market for Smart Pills is classified according to the application as follows: Products, Instruments and Patient Monitoring Software. In 2022, the product segment accounted for a significant revenue share, including the actual pill or capsule that patients swallow. The product segment is expected to increase its dominance over the forecast period, thanks to factors such as the portability of capsules, recurrent uses and high costs. The capsule endoscopy segment is expected to grow owing to the incidence of gastrointestinal disorders, such as colon cancer, Crohn's disease, and ulcerative colitis, which is increasing globally.

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Smart Pills Key Regional Development -

In terms of revenue, North America accounts for more than 35% by 2022 in the smart pill market. As a result of factors like technological progress in the healthcare sector, rising incidences of colon and rectal cancer as well as approval of new products by regulators, the region is projected to maintain its dominance over the forecast period. According to WHO, Colorectal cancer holds the position of being the third most prevalent cancer across the globe, accounting for around 10% of all cancer cases, and is also the second leading cause of cancer-related deaths worldwide.

In the next few years, particularly in Japan, China, and India, Asia Pacific is predicted to be a major growth segment with a compound annual growth rate of 12.9% over the forecast horizon. Mandatory health insurance, technological advances and an increase in the incidence of gastrointestinal diseases are key factors driving the Japanese market.

Key Takeaway from Smart Pills Market Study-

In order to help stakeholders take advantage of the current market opportunities, a detailed qualitative analysis of the industry will be provided between 2023 and 2030.

The trends in the global Smart Pills Market are helped by a comprehensive analysis of

To understand the competitive outlook of this sector, key players and their strategies shall be provided.

Recent Development Related to Smart Pills Market -

In 2023, The NaviCam Small Bowel System was introduced to the United States by AnX Robotica Corp.US. The NaviCam SB system uses aspherical lens technology to reduce distortion and improve the field of vision, a critical component of the diagnosis of small bowel disease.

In 2021, The US Food and Drug Administration has granted 510k clearance for the PillCam Small Bowel 3 system, which is used in remote gastrointestinal procedures.

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Table of Contents

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis

5. Value Chain Analysis

6. Porter's 5 forces model

7. PEST Analysis

8. Smart Pills Market, By Application
8.1 Capsule Endoscopy
8.2 Drug Delivery
8.3 Patient Monitoring

9. Smart Pills Market, By Target Area
9.1 Esophagus
9.2 Small Intestine
9.3 Large Intestine
9.4 Stomach

10. Smart Pills Market, By End User
10.1 Hospitals
10.2 Diagnostic Centers
10.3 Other End User

11. Regional Analysis

12. Company Profile

13. Competitive Landscape
13.1 Competitive Bench marking
13.2 Market Share Analysis
13.3 Recent Developments
13.4. Industry News
13.5. Company News
13.6.Mergers & Acquisitions

14. USE Cases and Best Practices

15. Conclusion

continued

Access Complete Report Details with Toc and Graphs@ https://www.snsinsider.com/reports/smart-pills-market-3662

Contact Us:
Akash Anand - Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)
Website: https://www.snsinsider.com

About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

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