Smart Pills Market Overview, Growth, Trends, Analysis, Research Report (2021-2031)

Smart Pills Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Application (Capsule Endoscopy, Drug Delivery, and Patient Monitoring), Disease Indication (Gastrointestinal Diseases, Neurological Disorders, Cancer, Inherited Disorders, and Other Disease Indications), End User (Hospitals and Clinics, Research Institutes, and Home Healthcare), and Geography

  • Report Code : TIPHE100001238
  • Category : Medical Device
  • No. of Pages : 150
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The smart pills market size is projected to reach US$ 13.22 billion by 2031 from US$ 5.01 billion in 2023. The market is expected to register a CAGR of 12.9% during 2023–2031. Remote patient monitoring through smart pills is likely to remain a key trend in the market.

Smart Pills Market Analysis

Worldwide IBS and colon cancer incidences are growing dramatically; this is expected to serve critical growth opportunities for the smart pills market. For instance, according to the published article by the National Center for Biotechnology Information, IBS prevalence among people in Spain is  approximately 10%. Furthermore, globally, IBS affects around 11% of the population. Such growing IBS and cancer cases will fuel the smart pills market.

Smart Pills Market Overview

The prevalence of chronic diseases such as cancer, neurological disease, gastrointestinal diseases, and others is leading to various growth opportunities for the smart pill manufacturers to enter the market. The rising geriatric population is also likely to increase the demand for the smart pills market. Geriatric populations are more prone to neurological conditions such as dementia and Alzheimer’s disease, which increases the use of smart pills and shows a positive impact on the market. According to arc.aarpinternational.org, Germany is one of only five “super-aged” societies worldwide. By 2034, 24 million people in Germany will be 65 years or older, which is 31% of the population.

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Smart Pills Market: Strategic Insights

Smart Pills Market

  • CAGR (2023 - 2031)
    12.9%
  • Market Size 2023
    US$ 5.01 Billion
  • Market Size 2031
    US$ 13.22 Billion

Market Dynamics

GROWTH DRIVERS
  • Rising Incidence of IBD and Other Chronic Diseases
FUTURE TRENDS
  • Increase in Strategic Collaborations & Partnerships On Smart Pills to Favor Market
OPPORTUNITIES
  • Increasing Research For Efficient Approach To Assessing GI Motility

Key Players

  • CapsoVision, Inc.
  • Given Imaging, Inc.
  • Check-Cap
  • PENTAX Medical
  • Olympus
  • BodyCap
  • Otsuka America Pharmaceutical, Inc.
  • IntroMedic
  • Jinshan Science & Technology (Group) Co., Ltd.
  • RF Co., Ltd.

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Application
  • Capsule Endoscopy
  • Drug Delivery
  • Patient Monitoring
Disease Indication
  • Gastrointestinal Diseases
  • Neurological Disorders
  • Cancer
  • Inherited Disorders
  • Other Disease Indications
End User
  • Hospitals
  • Clinics
  • Research Institutes
  • Home Healthcare
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Smart Pills Market Drivers and Opportunities

Increase in Strategic Collaborations & Partnerships On Smart Pills to Favor Market

In April 2023, Caltech researchers partnered with researchers at the Massachusetts Institute of Technology and developed the smart-pill technology to diagnose gut disorders. The research was supported in part by the U.S.-based National Science Foundation. Furthermore, in April 2022, the AARDEX group added EtectRx’s smart pills to their MEMS adherence hardware ecosystem. This new collaboration combines etectRx’s smart pill, AARDEX Group’s MEMS Adherence Software (MEMS AS) the ID-Cap System, and to trace medication-taking behaviours. Furthermore, they provide an accurate method to measure and control adherence to solid dosage medicines.

Increasing Research For Efficient Approach To Assessing GI Motility

Existing smart pills do not offer a high spatial resolution, large field-of-view (FOV), and fully wireless operation. Therefore, researchers from NYU Abu Dhabi (NYUAD) developed a new, non-invasive system to assist diagnosis and treatment of gastrointestinal motility disorders. They have generated 3D magnetic field gradients using high-frequency electromagnetic coils that encode each spatial point with a distinct magnetic field magnitude that can track the development of smart pill through the Gastrointestinal (GI) tract. Using bluetooth the field magnitude can determine precise location and transport to a smartphone. Even for electromagnets apply GI motility, and magnetic field can be incorporated into backpacks and jackets.

Smart Pills Market Report Segmentation Analysis

Key segments that contributed to the derivation of the smart pills market analysis are application, indication, and end user.

  • Based on application, the smart pills market is bifurcated into capsule endoscopy, drug delivery and patient monitoring. Capsule endoscopy is further sub-segmented into colon capsule endoscopy, small bowel video capsule endoscopy, storable capsule endoscope, controllable capsule endoscopy, and others. The capsule endoscopy segment held a larger market share in 2023.
  • Based on indication, the smart pills market is divided gastrointestinal diseases, neurological disorders, cancer, inherited disorders and other disease indications. The gastrointestinal diseases segment held a larger market share in 2023.
  • Based on end user, the smart pills market is divided into research institutes, hospitals and clinics, and home healthcare. The hospitals and clinics segment held a larger market share in 2023.

Smart Pills Market Share Analysis by Geography

The geographic scope of the smart pills market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America has dominated the market and Asia Pacific is anticipated to grow with the highest CAGR in the coming years. The growing prevalence of gastrointestinal diseases will likely demand smart pills in Australia. IBS develops in 1 in 5 Australians at some point in their lifetime. Also, every year, more than 800 cases of Ulcerative colitis (UC) are diagnosed in Australia. In addition, according to Australian Government, bowel cancer is the second most significant cancer deaths in Australia and affect 1 in 14 people. People of different ages, between 50 and 74 are at a higher risk and it mainly affects both men and women. Thus, the growing prevalence of gastrointestinal diseases will likely increase demand for smart pills in this region.

Smart Pills Market Report Scope

Report Attribute Details
Market size in 2023 US$ 5.01 Billion
Market Size by 2031 US$ 13.22 Billion
Global CAGR (2023 - 2031) 12.9%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Application
  • Capsule Endoscopy
  • Drug Delivery
  • Patient Monitoring
By Disease Indication
  • Gastrointestinal Diseases
  • Neurological Disorders
  • Cancer
  • Inherited Disorders
  • Other Disease Indications
By End User
  • Hospitals
  • Clinics
  • Research Institutes
  • Home Healthcare
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • CapsoVision, Inc.
  • Given Imaging, Inc.
  • Check-Cap
  • PENTAX Medical
  • Olympus
  • BodyCap
  • Otsuka America Pharmaceutical, Inc.
  • IntroMedic
  • Jinshan Science & Technology (Group) Co., Ltd.
  • RF Co., Ltd.
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    Smart Pills Market News and Recent Developments

    The smart pills market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the smart pills market are listed below:

    • HealthBeacon plc extended its platform to manage complex and critical pill regimens by launching its new HB Smart Pills Management System ("HB Smart Pills"). (Source: HealthBeacon plc, Press Release, September 2022)
    • PillSafe new disruptive technology and launched smart pill bottle for prescription drugs designed to ensure safety and compliance with medication in the fight against addictive drugs. (Source: PillSafe, Press Release, January 2024)

    smart pills Market Report Coverage and Deliverables

    The “smart pills Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

    • Smart pills market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
    • Smart pills market trends, as well as market dynamics such as drivers, restraints, and key opportunities
    • Detailed PEST/Porter’s Five Forces and SWOT analysis
    • Smart pills market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments3
    • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the smart pills market
    • Detailed company profiles
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Application, Disease Indication, and End User

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

    Frequently Asked Questions


    Which region dominated the smart pills market in 2023?

    North America has dominated the smart pills market.

    What are the driving factors impacting the smart pills market?

    Factors such as rising demand for minimally invasive surgical procedures and increase in strategic collaborations and partnerships will boost the market.

    What are the future trends of the smart pills market?

    Remote patient monitoring through smart pills is likely to remain a key trend in the market.

    What would be the estimated value of the smart pills market by 2031?

    The smart pills market size is projected to reach US$ 13.22 billion by 2031.

    What is the expected CAGR of the smart pills market?

    The market is expected to register a CAGR of 12.9% during 2023–2031.

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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