Press release
Global Smart Pills Market Overview Covering Forecast Market Size And Growth Rate 2033 | Medtronic plc, Olympus Corporation, CapsoVision Inc., Novartis AG, Proteus Digital Health Inc
Smart Pills Global Market Report 2024
Smart Pills Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $8.49 billion In 2028 At A CAGR Of 11.3% :
The smart pills market size has grown rapidly in recent years. It will grow from $4.98 billion in 2023 to $5.53 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to medication adherence, chronic disease management, clinical trials and research, aging population.
The smart pills market size is expected to see rapid growth in the next few years. It will grow to $8.49 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to remote patient monitoring, regulatory and quality standards, clinical trials and research, digital health integration. Major trends in the forecast period include wireless health monitoring, diagnostic and imaging capsules, data analytics and artificial intelligence, smart pill sensors, miniaturization and biocompatibility.
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Smart Pills Market Major Segments
The smart pills market covered in this report is segmented -
1) By Target Area: Esophagus, Stomach, Small Intestine, Large Intestine
2) By Disease Indication: Esophageal Diseases, Colon Diseases, Small bowel Diseases, and Other Disease Indications
3) By Application: Capsule Endoscopy, Patient Monitoring, Drug Delivery
4) By End User: Hospital, Diagnostic Center, Research Institute
Key Driver - Rise Of Non-Invasive Procedures Fueling The Smart Pills Market
The growing preference for non-invasive procedures is driving the smart pills market. The non-invasive procedures are diagnostic and treatment procedures that do not require an incision on the body or removal of tissues for the treatment or diagnosis. Smart pill is a wireless, ingestible capsule that can be easily swallowed and has a wide range of applications in capsule endoscopy, drug delivery, and patient monitoring. For instance, smart pills have key applications in diagnostic imaging such as capsule endoscopy. The capsule endoscopy is a diagnostic procedure in which a smart pill (capsule enclosed micro-camera) is swallowed and images of the esophagus, stomach, and small intestine can be taken as the device pass through your gastrointestinal (GI) tract. Smart pills have revolutionized the diagnosis of gastrointestinal disorders and could replace conventional diagnostic techniques such as endoscopy. Therefore, non-invasive procedures are driving the smart pills market during the period.
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Prominent Trend - Innovative Uses Of Atoms
Extensive research and development are being carried out on the use of miniature chips such as Addressable Transmitters Operated as Magnetic Spins (ATOMS) which can be used as smart pills. ATOMS are silicon chip devices that use the principle of magnetic resonance imaging (MRI) to determine the location of atoms in a patient's body using magnetic fields. ATOMS can be used in ingestible smart pills to diagnose and treat diseases from within the body. The devices can be used to monitor a patient's gastrointestinal tract, blood, or brain. They also could measure factors that indicate the health of a patient such as pH, temperature, pressure, and sugar concentrations, and relay that information to doctors. The devices could even be instructed to release drugs. For instance, scientists at Caltech (California Institute of Technology) have developed a miniature medical chip that can be used as a smart pill.
Smart Pills Market Players
Major companies operating in the smart pills market include Medtronic plc, Olympus Corporation, CapsoVision Inc., Novartis AG, Proteus Digital Health Inc., Koninklijke Philips N.V., MicroCHIPS Inc., Bio-Images Drug Delivery (BDD) Ltd., Given Imaging Ltd., Vitality Inc., Boston Scientific Corporation, HQ Inc., Fujifilm Holdings Corporation, General Electric Company, Check-Cap Ltd., IntroMedic Co. Ltd., Jinshan Science & Technology Co. Ltd., PENTAX Medical, etectRx Inc., Pixie Scientific HQ Inc., ANX Robotica Corp., RF Co. Ltd., Shenzhen Jifu Medical Technology Co. Ltd., Otsuka America Pharmaceutical Inc., Medimetrics Personalized Drug Delivery B.V., Smart Pill Inc., Medisafe Inc., AdhereTech LLC, TabSafe Medical Services Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the smart pills market in 2023. Western Europe was the second-largest region in the smart pills market analysis. The regions covered in the smart pills market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Smart Pills Market Report Structure
3. Smart Pills Market Trends And Strategies
4. Smart Pills Market - Macro Economic Scenario
5. Smart Pills Market Size And Growth
…..
27. Smart Pills Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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