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Global Smart Pills Market Projected to Grow at 10.6% CAGR, Reaching $9.13 Billion by 2029
Smart Pills
What Will the Smart Pills Industry Market Size Be by 2025?
The size of the smart pills market has seen a rapid expansion in recent periods. The market is predicted to increase from a value of $5.53 billion in 2024 to $6.11 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 10.3%. Factors such as medication adherence, management of chronic diseases, clinical trials and research, and an aging population have contributed to this significant growth during the historic period.
What's the Long-Term Growth Forecast for the Smart Pills Market Size Through 2029?
The market size for smart pills is anticipated to experience swift expansion in the foroming years. The market is projected to escalate to $9.13 billion by 2029, with a compound annual growth rate (CAGR) of 10.6%. The expansion during the predicted timeframe can be credited to factors such as remote patient monitoring, adherence to regulatory and quality standards, clinical studies and research, and incorporation of digital health. The main trends to watch out for during this period include wireless health monitoring, development of diagnostic and imaging capsules, the use of data analytics and artificial intelligence (AI), sensors used in smart pills, miniaturization, and biocompatibility.
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What Are the Key Growth Drivers Fueling the Smart Pills Market Expansion?
The surge in acceptance for procedures that are non-invasive is fueling expansion in the smart pills market. These non-invasive methods, which do not necessitate the creation of an incision or tissue removal for diagnosis or treatment, are becoming increasingly popular. Smart pills, which are compact, wireless capsules that can be comfortably ingested, have notable uses in capsule endoscopy, drug delivery, and patient monitoring. For example, a primary application of smart pills is in diagnostic imaging through capsule endoscopy, a procedure in which a micro-camera enclosed in a smart pill is ingested and used to capture images of the esophagus, stomach, and small intestine as the device traverses the gastrointestinal (GI) tract. The diagnosis of gastrointestinal disorders has seen transformational changes with the introduction of smart pills, potentially making traditional diagnostic methods such as endoscopy obsolete. Consequently, the appeal of non-invasive procedures is propelling the growth of the smart pills market during the considered period.
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What Trends Will Shape the Smart Pills Market Through 2029 and Beyond?
In-depth studies and innovations are being undertaken on the application of tiny chip technology, notably Addressable Transmitters Operated as Magnetic Spins (ATOMS), which have potential use in ingestible smart pills. ATOMS, comprised of silicon chips, utilize the technique of magnetic resonance imaging (MRI) to ascertain the position of atoms within a patient's body via magnetic fields. These devices can be deployed within the body via smart pills to diagnose and treat various ailments. They are equipped to monitor aspects like the patient's gastrointestinal tract, blood, or brain. Moreover, they could assess health indicators such as pH levels, temperature, pressure, and sugar concentrations, and share these medical data with physicians. These devices are designed to administer medication when ordered. For example, researchers from Caltech (California Institute of Technology) have created a miniaturized medical chip for use in a smart pill.
How Is the Smart Pills Market Segmented?
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
Subsegments:
1) By Esophagus: Diagnostic Pills For Esophageal Disorders, Pills For Monitoring Esophageal Motility
2) By Stomach: Gastric Emptying Monitoring Pills, Diagnostic Pills For Gastric Disorders
3) By Small Intestine: Pills For Absorption Studies, Diagnostic Pills For Small Bowel Diseases
4) By Large Intestine: Colonoscopy Alternative Pills, Pills For Detecting Colorectal Disorders
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Which Companies Are Leading the Charge in Smart Pills Market Innovation?
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.
Which Regions Are Leading the Global Smart Pills Market in Revenue?
North America was the largest region in the smart pills market in 2024. 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
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