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Smart Pills Market Size Worth USD 1.84 Billion in 2032 | Emergen Research
Smart Pills Market
Key Drivers Fueling Market Growth
One of the primary drivers of market growth is the rising demand for non-invasive diagnostic monitoring devices. Traditional diagnostic techniques often involve uncomfortable and risky procedures, deterring patients from necessary tests. Smart pills offer a patient-friendly alternative by providing a non-invasive means of monitoring vital signs and detecting gastrointestinal disorders.
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Technological Advancements Propel Market Expansion
Technological advancements in capsule endoscopy are also contributing to the market's expansion. These advancements enable real-time monitoring of medication effectiveness, leading to improved treatment outcomes and reduced side effects. Moreover, the integration of sensors and wireless technology in smart pills enhances drug delivery, ensuring patients receive optimal dosages tailored to their specific conditions.
Challenges and Opportunities
Despite the market's growth trajectory, technological limitations and higher manufacturing costs remain key challenges. The increased cost of producing and distributing digital pills may limit their accessibility, potentially hindering broader adoption. However, ongoing innovations such as miniaturized smart pills for real-time biomarker detection present opportunities for market growth.
Segment Insights
The market is segmented based on applications, target areas, and end-users. The patient monitoring segment dominates the market, thanks to smart pills' built-in sensors that can measure various parameters within the body. Additionally, the small intestine segment holds significant market share due to rising demand for diagnosing and monitoring conditions in this region.
End-Use Dynamics
Hospitals lead the market in terms of end-use, driven by the increasing use of smart pills for diagnostics and treatment. Diagnostic centers are also experiencing steady growth, fueled by advancements in endoscopic technologies and the demand for advanced diagnostic options.
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Smart Pills Top Companies and Competitive Landscape
The global smart pills market is moderately fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major businesses are using a variety of tactics, making mergers and acquisitions, strategic agreements, and contracts, as well as creating, experimenting with, and introducing more efficient smart pills solutions in the market.
Some major players included in the global smart pills market report are:
• CapsoVision, Inc.
• Inc.
• OLYMPUS Corporation
• Medtronic plc
• Check-Cap Ltd.
• Koninklijke Philips N.V.
• RF Co., Ltd.
• IntroMedic Co., Ltd.
• Proteus Digital Health
• JINSHAN Science & Technology
• Bio-Sensings
• Medimetrics
• IntroMedic
• Cerner Corporation
• eTect
• Microchips Biotech
• VitalConnect, Hologic
• Cadence Design Systems
• Medtronic (formerly Covidien)
Smart Pills Latest Industry News
• On 8 September 2022, HealthBeacon, a leading digital therapeutics company, introduced its HB Smart Pills Solution, aimed at managing complex and vital pill regimens. This new system integrates seamlessly with the company's existing technology platform, designed to help individuals adhere to prescribed medications, offering reminders for refills and recording visual images of pill containers to verify medication adherence. This innovation addresses the challenge of non-adherence to pill regimens faced by many individuals managing chronic illnesses. HealthBeacon aims to deepen its relationships with pharmaceutical companies, specialty pharmacies, and governments, extending its reach and customer base, by enhancing its product offerings.
• On 20 January 2022, Danish pharmaceutical company Novo Nordisk launched oral semaglutide in India, a new treatment for type 2 diabetes. The oral semaglutide pill is priced at Rs 315 per pill or approximately Rs 10,000 for a month's treatment. This introduction makes India the sixth country to commercially release the semaglutide pill. Unlike its previous injectable form, oral semaglutide is more convenient for patients and promises several benefits in diabetes management, such as mimicking natural incretin hormone action, which stimulates insulin release, controls blood glucose, and aids in weight loss and cardiovascular risk reduction.
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Smart Pills Market Segment Analysis
For the purpose of this report, Emergen Research has segmented the global smart pills market on the basis of target area, application, end-use, disease, and region:
• Target Area Outlook (Revenue, USD Billion; 2019-2032)
o Small Intestine
o Large Intestine
o Esophagus
o Stomach
• Application Outlook (Revenue, USD Billion; 2019-2032)
o Product
o Tools
• End-use Outlook (Revenue, USD Billion; 2019-2032)
o Hospitals
o Diagnostic Centers
o Research Institutes
• Disease Outlook (Revenue, USD Billion; 2019-2032)
o Esophagus Diseases
o Small Bowel Disease
o Colon Diseases
o Others
• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of Middle East & Africa
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