Smart Pills Market: Global Industry Analysis and Forecast (2022-2029)

Smart Pills Market was valued at US $ 4.33 Bn. in 2021. The global market is expected to grow at a CAGR of 15.46% during the forecast period. The market is expected to reach a value of US $ 13.67 Bn. by 2029.
Smart Pills Market Overview:
Smart pills, often known as digital pills, are antibiotics that comprise edible automated devices that send wireless communications to various devices such as patches, tablets, or smartphones outside the body when consumed. It is also used for a drug artificial lake, a blood sugar monitor, an insulin pump, and handheld administration devices that are all incorporated in these systems.

They originated in the form of a vitamin capsule-sized pill and also include a small wearable device blotch, a mobile device application, and a provider portal. Smart tablets have transmuted in the field of gastrointestinal diagnosis, and because they are non-invasive, they can be used as a supernumerary for aggressive behaviours.



To know about the Research Methodology :- Request Free Sample Report
Smart Pills Market Dynamics:
Advanced drug delivery methods are in high demand which is a major driving factor for the market:

Medication delivery systems with essential assistances such as adversative effects, couturier drug delivery, enhanced API consumption, and abridged dosing incidences is witnessing growth for this market. As a result, advanced medications, modern technologies, and medical devices have been integrated into drug delivery systems, which is leading prominently in the expansion of smart pills. People with chronic conditions who must observe a strict drug regimen are likely to be the primary patient base for smart tablets.

The growth of the smart pill market is anticipated to be assisted by technological advancements in capsule endoscopes. Furthermore, an increase in the occurrence of colon cancer is expected to strangle the smart pill market's growth. Apart from this increasing cases of chronic diseases such as cancer, diabetes, stroke, arthritis, and heart diseases are majorly found in the U.S, which is driving the growth of the smart pills market.

The high cost of medicines, and accumulative government limitations are major restraining factors for the market:

An increase in the cost of several drugs as excessive use of dosages is a major factor that is hampering the growth of the market. Furthermore, various kind of side effects occurs after consuming drugs such as high blood pressure, insomnia, trouble with vision, which is also obstructing the market in the present scenario. Moreover, government poses some strict actions for manufacturing and distribution networks of the drug.

Consumption of pills can Increase Cognitive Performances and enhance focus:

Most of the people lack the level of attentiveness required to achieve their purposes. Poor hypothetical enactment has been associated with a lack of emphasis. This kind of affluence has been shown to increase concentration which is giving users a better chance of success. Meanwhile, exact usage of pills can also increase cognitive performances which give a lucrative growth for the market.

Patients who have a great need for home healthcare facilities antagonise difficulties in gaining and using smart medicines:

Misuse of nootropics which are commonly known for any substance that alters, improves or augments cognitive performance, mostly by encouraging or constraining certain neurotransmitters can be hazardous and harmful to the human brain, and certain people with a history of mental or substance use disorders may be particularly susceptible, these patients may be needed homecare facility in which specialists faces problem to fulfil the need to such patients.
Smart Pills Market Segment Analysis:
Based on the Application, the market is segmented into Capsule Endoscopy, Drug Delivery, Patient Monitoring and Others. The Capsule Endoscopy segment is expected to hold 35.7% of the overall market share in terms of revenue by 2029. Endoscopy and colonoscopy are being phased out in support of innovative gastrointestinal diagnostic techniques like capsule endoscopy. This most recent method is more appropriate, less invasive, and more progressive. Capsule endoscopy is a medical indicative technique that accounts for central pictures of the gastrointestinal strip. Newer revolutions can also obtain biopsies and deliver medication to particular parts of the gastrointestinal tract.

However, the Drug Delivery segment is expected to grow at a CAGR of 6.5% during the forecast period. The technique or procedure of providing pharmaceutical affluence to attain a beneficial effect in people is mentioned as drug delivery. Muffled and pulmonary ways of medication organization are becoming progressively important in the treatment of human diseases. The capability to provide a drug more selectively to a specific site is easier and less recurrent which is a major reason for driving the growth of this segment.

Based on Target Area, the Smart Pills Market is segmented into Esophagus, Small Intestine, Large Intestine, and Stomach. The Small Intestine segment is expected to hold 32.5% of the overall market share in terms of revenue by 2029. This is due to an increase in small intestinal illnesses such as Crohn's disease, celiac disease, and tumours in the small intestine. The small intestine is also known as the small bowel, is an organ in the gastrointestinal tract that is answerable for the widely held nutritional fascination from food. It is located amongst the stomach and the large intestine, and it gets vitriol and pancreatic juice from the pancreatic duct to help indigestion.
Smart Pills Market Regional Insights:
The North American region is expected to dominate the market during the forecast period.

An increase in the occurrence of colorectal cancer, technical developments in the healthcare industry, and the approval of new goods by regulatory agencies is major factor for driving the growth of this region. In the United States, where the occurrence of ADHD establishes is high and suppository is widely used, 22% of defendants claimed that they have used amphetamine amalgamation drugs like Adderall for PCE which comes under smart pills association. Countries like the United States and Canada have higher rates of non-medical treatment which is used for cognitive augmentation.

However, the Asia Pacific region is expected to grow at a CAGR of xx% during the forecast period. Primary issues impacting market expansion in the Asia Pacific are obligatory healthcare insurance necessities and the rising occurrence of gastrointestinal illnesses and stomach cancer. The high pervasiveness of target sicknesses, combined with increased administration backing, is likely to fuel expansion in the Asia Pacific region.

The objective of the report is to present a comprehensive analysis of the global market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the market dynamics, structure by analyzing the market segments and projecting the market size. Clear representation of competitive analysis of key players by Technology, price, financial position, product portfolio, growth strategies, and regional presence in the global market makes the report investor's guide.
Smart Pills Market Scope: Inquiry Before Buying



Smart Pills Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2021-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 4.33 Bn.


Forecast Period 2021 to 2029 CAGR:
15.46%
Market Size in 2029:
US $ 13.67 Bn.


 Segments Covered:
by Application
• Capsule Endoscopy
• Drug Delivery
• Patient Monitoring
• Others


by Target Area
• Coronary
• Endovascular
• Neurology
• Oncology


by Disease Indication
• Esophageal Diseases
• Small Bowel Diseases
• Colon Diseases
• Others


by End User
• Hospital
• Diagnostic Center
• Research Institute



Smart Pills Market by Region
• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa
Smart Pills Market Key Players
• Boston Scientific Corporation
• Cerner Corporation
• FUJIFILM Holdings Corporation
• GENERAL ELECTRIC COMPANY
• Olympus Corporation
• PENTAX Medical
• Given Imaging, Inc.
• Medtronic Plc.
• Olympus Corporations
• IntroMedic Co.Ltd,
• RF Co.Ltd
• JINSHAN Science & Technology
• Check-Cap
• Koninklijke Philips N.V.
• ACAMP
• BDD Ltd

Frequently Asked Questions:

1] What segments are covered in the Smart Pills Market report?
Ans. The segments covered in the Smart Pills Market report are based on Target area and Application.

2] Which region is expected to hold the highest share in the Smart Pills Market?
Ans. The North American region is expected to hold the highest share in the Smart Pills Market.

3] What is the market size of the Smart Pills Market by 2029?
Ans. The market size of the Smart Pills Market is expected to be US $ 13.67 Bn by 2029.

4] What is the forecast period for the Smart Pills Market?
Ans. The forecast period for the Smart Pills Market is 2021-2029.

5] What was the market size of the Smart Pills Market in 2021?
Ans. The market size of the Smart Pills Market in 2021 was US $ 4.33 Bn.