Global Smart Pill Technology Market

Report ID : 1485 | Published : 2022-12-02 | Pages: | Format: PDF/EXCEL

The market size of the Global Smart Pill Technology Market in the year 2021 is valued at 3.66 billion and is predicted to reach 8.24 billion by the year 2030 at an 9.73% CAGR during the forecast period.

By bridging the gap between digital technology and healthcare, smart pill technologies have sparked a new wave of change in the healthcare sector. Digital ingestible pills containing edible electronic sensors are known as "smart pills." Investment levels in the market for smart pill technologies are rising quickly. Many investors are drawn to smart pill technologies due to their growing appeal among a sizable portion of the world's population. In mergers, acquisitions, and startups, numerous businesses and investment firms make significant investments. These elements could contribute to the market for smart pill technology growing more quickly. Among these are smart medicines. To expand their customer base, the market participants for smart pill technologies make significant investments in R&D efforts.

Moreover, the leading market growth drivers are the participants improved reimbursement rates and more superficial regulatory approvals for capsule endoscopy. The desire of patients to choose this treatment, ease of monitoring body processes and managing medicines, and general health are the main market drivers. However, factors offering a hurdle to the smart pill technology market growth include probable health hazards related to a smart pill being introduced into the body, privacy concerns, and ethical considerations.

Market Segmentation:

The smart pill technology market is segmented on the application, target area, disease indication and end users. Based on application, the market is divided into capsule endoscopy, drug delivery and patient monitoring. Based on the target area, the smart pill technology market is segmented into the esophagus, stomach, and small and large intestines. Based on the disease indication, the smart pill technology market is segmented into barrett's esophagus, small bowel diseases, colon cancer and others. Based on end-use, the smart pill technology market is segmented into hospitals, clinics, diagnostic centers, and research centers.

Based on application, the capsule endoscopy segment is a major contributor to the smart pill technology market.

The market's leading segment is capsule endoscopy. It is anticipated that factors like wireless health monitoring and site-specific drug delivery will encourage both patients and doctors to use these technologies. A procedure called capsule endoscopy—called GI capsule, camera capsule, pill camera, or wireless end capsule—is employed to diagnose GI diseases. Devices for capsule endoscopy consist of four microcapsules: a light source, a color camera, a transmitter, and a battery. A lot of flexibility is available with capsule endoscopy. Both wireless patient monitoring and intelligent drug delivery (also known as Bio-MEMS drug delivery system) via smart pills are still in their infancy.

The hospital and clinics segment witnessed growth at a rapid rate.

Hospitals and clinics grabbed the highest revenue share, and it is anticipated that they will continue to hold that position during the anticipated time. The way that patients are treated in hospitals has changed noticeably. In the comfort of a patient's sensor, embedded systems or diagnostic tools support monitoring vital signs, including temperature, pH, pulse, and others. The ability to integrate sensors and electronics at lower power levels on materials like silicon is growing. This improves the multiple drug delivery applications for sensors. As a result, the market for hospitals and clinics is expanding, creating new opportunities for the smart pill market to expand.

The North American smart pill technology market holds a significant regional revenue share.

North America is anticipated to post respectable gains during the study period. Medical researchers' ongoing progress in the area of ingestible electronics is what is fueling this rise. The U.S. FDA and other regional agencies have been developing standards for obtaining digital smart tablet approval. In addition, the rise in colorectal cancer incidence, improvements in healthcare technology, and the regulatory clearance of new products. All these variables are anticipated to present growth prospects for the players operating in this region. Besides, Asia-Pacific smart pill market share would grow more quickly than any other region. Because of the growing older population, rising healthcare spending, and advancements in medical technology.

Competitive Landscape

The key players in the smart pill technology market have shifted their focus toward product manufacturing and are initiating significant strategies such as mergers, acquisitions, and joint ventures of major and domestic players to enhance their product portfolio and strengthen their global market footprint. Some major key players in the Smart Pill Technology market are RF Co., Ltd, JINSHAN Science and Technology, Proteus Digital Health, HQ, Inc., CapsoVision, Inc., Medtronic Plc., Olympus Corporations, IntroMedic Co., Ltd, Check Cap, Koninklijke Philips N.V.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Smart Pill Technology Market Snapshot

Chapter 4. Global Smart Pill Technology Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Investment and Funding Analysis

4.6. Industry Analysis – Porter’s Five Forces Analysis

4.7. Competitive Landscape & Market Share Analysis

4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Application Estimates & Trend Analysis

5.1. by Application & Market Share, 2019 & 2030

5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Application:

5.2.1. Capsule Endoscopy

5.2.2. Drug Delivery

5.2.3. Patient Monitoring

Chapter 6. Market Segmentation 2: by Target Area Estimates & Trend Analysis

6.1. by Target Area & Market Share, 2019 & 2030

6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Target Area:

6.2.1. Esophagus

6.2.2. Stomach

6.2.3. Small Intestine

6.2.4. Large Intestine

Chapter 7. Market Segmentation 3: by Disease Indication Estimates & Trend Analysis

7.1. by Disease Indication & Market Share, 2019 & 2030

7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Disease Indication:

7.2.1. Barrett'S Esophagus

7.2.2. Small Bowel Diseases

7.2.3. Colon Cancer

7.2.4. Others

Chapter 8. Market Segmentation 4: by End-user Estimates & Trend Analysis

8.1. by End-user & Market Share, 2019 & 2030

8.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2030 for the following by End-user:

8.2.1. Hospitals and Clinics

8.2.2. Diagnostic Centres

8.2.3. Research Centres

Chapter 9. Smart Pill Technology Market Segmentation 5: Regional Estimates & Trend Analysis

9.1. North America

9.1.1. North America Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by Application, 2022-2030

9.1.2. North America Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by Target Area, 2022-2030

9.1.3. North America Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by Disease Indication, 2022-2030

9.1.4. North America Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2022-2030

9.1.5. North America Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by country, 2022-2030

9.2. Europe

9.2.1. Europe Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by Application, 2022-2030

9.2.2. Europe Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by Target Area, 2022-2030

9.2.3. Europe Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by Disease Indication, 2022-2030

9.2.4. Europe Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2022-2030

9.2.5. Europe Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by country, 2022-2030

9.3. Asia Pacific

9.3.1. Asia Pacific Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by Application, 2022-2030

9.3.2. Asia Pacific Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by Target Area, 2022-2030

9.3.3. Asia-Pacific Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by Disease Indication, 2022-2030

9.3.4. Asia-Pacific Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2022-2030

9.3.5. Asia Pacific Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by country, 2022-2030

9.4. Latin America

9.4.1. Latin America Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by Application, 2022-2030

9.4.2. Latin America Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by Target Area, 2022-2030

9.4.3. Latin America Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by Disease Indication, 2022-2030

9.4.4. Latin America Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2022-2030

9.4.5. Latin America Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by country, 2022-2030

9.5. Middle East & Africa

9.5.1. Middle East & Africa Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by Application, 2022-2030

9.5.2. Middle East & Africa Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by Target Area, 2022-2030

9.5.3. Middle East & Africa Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by Disease Indication, 2022-2030

9.5.4. Middle East & Africa Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2022-2030

9.5.5. Middle East & Africa Smart Pill Technology Market Revenue (US$ Million) Estimates and Forecasts by country, 2022-2030

Chapter 10. Competitive Landscape

10.1. Major Mergers and Acquisitions/Strategic Alliances

10.2. Company Profiles

10.2.1. RF Co., Ltd

10.2.2. JINSHAN Science and Technology

10.2.3. Proteus Digital Health, HQ, Inc.

10.2.4. CapsoVision, Inc.

10.2.5. Medtronic Plc

10.2.6. Olympus Corporations

10.2.7. IntroMedic Co., Ltd

10.2.8. Check-Cap

10.2.9. Koninklijke Philips N.V

10.2.10. Other Prominent Players

By Application

  • Capsule Endoscopy
  • Drug Delivery
  • Patient Monitoring

By Target Area

  • Esophagus
  • Stomach
  • Small Intestine
  • Large Intestine

By Disease Indication

  • Barrett'S Esophagus
  • Small Bowel Diseases
  • Colon Cancer
  • Others

By End-User

  • Hospitals and Clinics
  • Diagnostic Centres
  • Research Centres

By Gender-

  • Male
  • Female
  • Others

By Route of Administration-

  • Oral
  • Injectable

By End-Use

  • Hospitals
  • Specialty Clinics
  • Others

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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