Smart Pills Market Size Worth USD 1.84 Billion in 2032 | Emergen Research

Rising demand for non-invasive diagnostic monitoring devices and increasing prevalence of colon cancer, Food and Drug Administration (FDA) approvals, and European Conformity (CE) mark for smart pills are key factors driving market revenue growth


Vancouver, Jan. 04, 2024 (GLOBE NEWSWIRE) -- The global smart pills market size was USD 0.60 Billion in 2022 and is expected to register a   rapid revenue CAGR of 12.0% during the forecast period The global smart pills market is witnessing significant growth, fueled by the increasing demand for non-invasive diagnostic monitoring devices and a surge in the prevalence of colon cancer. The market's momentum is further boosted by regulatory approvals, such as those from the Food and Drug Administration (FDA) and European Conformity (CE) mark, highlighting the importance of smart pills in the evolving landscape of healthcare.

Non-Invasive Approach Drives Market Demand

One of the key drivers of the smart pills market is the escalating demand for non-invasive monitoring devices, replacing uncomfortable and risky traditional diagnostic procedures like endoscopy. Smart pills offer a patient-friendly alternative, allowing individuals to undergo screenings and tests without the discomfort associated with invasive methods. The simplicity of swallowing a smart pill aligns with the growing preference for less invasive and more comfortable diagnostic options.

Technological Advancements Enhance Efficacy

Technological advancements in capsule endoscopy play a crucial role in the market's growth. Smart pills, equipped with sensors and wireless technology, enable real-time monitoring of medication effectiveness. This facilitates immediate adjustments to dosage, ensuring patients receive optimal treatment tailored to their specific conditions. The optimization of drug delivery not only improves treatment outcomes but also reduces side effects, making smart pills a compelling choice for both healthcare providers and patients.

Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/2637

However, the market faces challenges due to technological limitations. The cost associated with manufacturing and distributing digital pills, incorporating sensors and wireless technology, is significantly higher than traditional medication. This increased cost may limit accessibility, potentially hindering the broader adoption of smart pills and making them less affordable for some patients.

Application Insights: Patient Monitoring Takes the Lead

In terms of application, the patient monitoring segment dominated the global smart pills market in 2022. Equipped with built-in sensors, smart pills can measure various parameters within the body, providing valuable information about a patient's well-being. This ability to monitor vital signs aids in the early detection of potential health issues, contributing to the segment's largest revenue share.

Target Area Insights: Small Intestine Segment Leads

The small intestine segment is expected to account for a significantly large revenue share in the global smart pills market during the forecast period. Rising demand for smart pills to diagnose and monitor conditions in the small intestine, where many gastrointestinal diseases occur, contributes to this segment's prominence.

End-Use Insights: Hospitals at the Forefront

In terms of end-use, hospitals are expected to account for the largest revenue share in the global smart pills market over the forecast period. The increasing use of smart pills for diagnostic and treatment purposes, especially in the realm of gastrointestinal diseases, enhances hospitals' capabilities in assessing and treating various conditions.

Regional Insights: North America Leads, Europe and Asia Pacific Show Promise

In 2022, the North America market claimed the largest revenue share in the global smart pills market, driven by increasing healthcare expenditure in the region. The Europe market is expected to register the fastest revenue growth rate, propelled by collaborative efforts and partnerships promoting the integration of smart pill technologies into healthcare systems. The Asia Pacific market is poised to account for a considerably large revenue share, driven by the rising prevalence of gastrointestinal disorders and the need for effective early diagnosis and management.

The global smart pills market is on a trajectory of substantial growth, propelled by advancements in healthcare technology, a shift towards non-invasive diagnostic solutions, and an increasing prevalence of gastrointestinal disorders. As innovations continue to reshape the healthcare landscape, smart pills emerge as a valuable asset in enhancing early diagnosis, personalized treatment plans, and overall patient care.

Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/2637

Scope of Research

Report DetailsOutcome
Market Size in 2022USD 0.60 Billion
CAGR (2023–2032)12.0%
Revenue Forecast To 2032USD 1.84 Billion
Base Year For Estimation2022
Historical Data2019-2021
Forecast Period2023–2032
Quantitative UnitsRevenue in USD Billion and CAGR in % from 2023 to 2032
Report CoverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments CoveredTarget Area, application, end-use, disease, and region
Regional ScopeNorth America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country ScopeU.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies ProfiledCapsoVision, Inc., HQ.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, and Medtronic (formerly Covidien)
Customization Scope10 hours of free customization and expert consultation

Major Companies and Competitive Landscape

The global smart pills market is moderately fragmented, with many large and medium-sized players accounting for 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.
  • HQ.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)

Strategic Development

  • 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.

Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/2637

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)
    • Small Intestine
    • Large Intestine
    • Esophagus
    • Stomach
  • Application Outlook (Revenue, USD Billion; 2019-2032)
    • Product
    • Tools
  • End-use Outlook (Revenue, USD Billion; 2019-2032)
    • Hospitals
    • Diagnostic Centers
    • Research Institutes
  • Disease Outlook (Revenue, USD Billion; 2019-2032)
  • Regional Outlook (Revenue, USD Billion; 2019–2032)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. France
      3. UK
      4. Italy
      5. Spain
      6. Benelux
      7. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Turkey
      5. Rest of Middle East & Africa
    • Esophagus Diseases
    • Small Bowel Disease
    • Colon Diseases
    • Others

Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/smart-pills-market

Curated Reports You Shouldn't Miss: Dive In Now!

Neurosurgery Devices Market By Product (Neuromodulation Devices, Neuroendoscopy Devices), By Application (Spinal Cord Stimulation, Deep Brain Stimulation, Neuroendoscopy), By End-Use, and By Region Forecast to 2032

Veterinary Imaging Market, By Product Type (X-ray, Ultrasound, MRI), By Animal Type (Livestock, Companion) By Application (Oncology, Cardiology, Neurology), End-Use (Veterinary hospitals, Clinics, Others), and By Region Forecast to 2030

Patient Handling Equipment Market, By Product Type (Medical Beds, Wheelchairs, Patient lifts), By Care (Accessory, Lifting), By End-Use (Hospitals and clinics, Homecare), and By Region Forecast to 2032

Breast Cancer Liquid Biopsy Market, By Application (Early Detection/Screening, Diagnosis, Others), By Circulating Biomarker (Circulating Tumor Cells, Extracellular Vesicles and Others), and By Region Forecast to 2032

Medical Tapes and Bandages Market, By Product (Tapes and Bandages), By Application (Surgical Wound Treatment and Traumatic Wound Treatment), By End-use, and By Region Forecast to 2032

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.

Contact Us:

Eric Lee

Corporate Sales Specialist

Emergen Research | Web: https://www.emergenresearch.com/

Direct Line: +1 (604) 757-9756

E-mail: sales@emergenresearch.com

Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights



Coordonnées