What Is The Current and Historic Market Size Analysis Of The Smart Pills Market?
The smart pills market has seen considerable growth due to a variety of factors.
• The size of the smart pills market has experienced rapid expansion over the recent years. Its growth is projected to increase from a market size of $5.39 billion in 2024 to $5.95 billion in 2025, representing a compound annual growth rate (CAGR) of 10.4%.
Factors contributing to this growth during the historical period include adherence to medication, managing chronic diseases, clinical studies and research, alongside an aging population.
What are the Market Size and Expected Growth Rates for the Smart Pills Market?
The smart pills market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of smart pills is predicted to expand swiftly in the forthcoming years, ballooning to $9.22 billion by 2029 with a compound annual growth rate (CAGR) of 11.6%.
The expected surge during this forecast period can be linked to factors such as remote patient surveillance, regulatory and quality benchmarks, clinical investigations, and the incorporation of digital health. The principal trends projected for this period comprise wireless health surveillance, diagnostic and imaging capsules, data examination and artificial intelligence, smart pill sensor technology, as well as miniaturization and biocompatibility.
Which Key Drivers Are Propelling The Smart Pills Market's Growth?
The increasing inclination towards procedures that avoid incisions or tissue removal for diagnosis or treatment is propelling the smart pills market. These non-invasive procedures utilize smart pills, which are wireless, easily ingestible capsules with expansive uses in capsule endoscopy, patient monitoring, and drug delivery. In particular, such smart pills are instrumental in diagnostic imaging via capsule endoscopy, a process involving the swallowing of a micro-camera encapsulated smart pill that captures images of the esophagus, stomach, and small intestine as it moves through the gastrointestinal (GI) tract. This innovation has revolutionized the diagnosis of gastrointestinal disorders, potentially overtaking traditional diagnostic techniques like endoscopy. Hence, it is the momentum of non-invasive procedures that fuels the growth of the smart pills market during this period.
What Are The Key Segments Within The Global Smart Pills Market?
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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How Are Emerging Trends Reshaping The Dynamics Of The Smart Pills Market?
Intensive R&D efforts are currently focusing on the utilization of microchips like Addressable Transmitters Operated as Magnetic Spins (ATOMS), which have potential applications as intelligent medical pills. These silicon chip devices, known as ATOMS, employ MRI principles to identify the position of atoms within a patient's body using magnetic fields. They can be implemented in ingestible smart pills for diagnosing and treating diseases internally. The chips have the capacity to track a patient's gastrointestinal tract, blood, or brain, and could also record health indicators such as pH, temperature, pressure, and glucose levels, sharing this data with the medical staff. Additionally, these devices can be programmed to administer drugs. For example, researchers at Caltech (California Institute of Technology) have produced a tiny medical chip suitable for use in a smart pill.
Who Are the Key Players In The Smart Pills Market?
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.
What Are The Regional Insights Into The Smart Pills 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
