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The Global Smart Pill Technology Market Size is valued at USD 4.22 billion in 2023 and is predicted to reach USD 9.21 billion by the year 2031 at a 10.55% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
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.
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.
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.
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.
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.
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Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD 4.22 billion |
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Revenue Forecast In 2031 |
USD 9.21 billion |
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Growth rate CAGR |
CAGR of 10.55% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
Application, Target Area, Disease Indication, End-User |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
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Competitive Landscape |
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. |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
By Application
By Target Area
By Disease Indication
By End-User
By Gender-
By Route of Administration-
By End-Use
By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & 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:
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:
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.
