Smart Pill Technologies Market

Smart Pill Technologies Market Overview (2022 to 2032)

The smart pill technologies market is projected to record a CAGR of 21% during the forecast period, up from USD 627.1 Million in 2020 to reach a valuation of USD 6176 Million by 2032.

The smart pill technologies market is anticipated to show promising growth prospects during the forecast period, owing to the increased prevalence of gastrointestinal diseases, sedentary lifestyles, and high patient compliance due to minimally invasive techniques.

Attributes	Details
Smart Pill Technologies Market Value (2020)	USD 627.1 Million
Smart Pill Technologies Market Value (2032)	USD 6176 Million
CAGR (2022 to 2032)	21%

The growth of the smart pills technologies market is driven by attractive reimbursement scenarios, patient desire for less invasive treatments, technical improvements in endoscopic techniques, and the growing prevalence of colon cancer. Furthermore, the benefits of smart pills technology, such as breakthroughs in endoscopic procedures, focused medicine administration, and simple remote patient monitoring, boost the sale of smart pills technologies.

Some of the key smart pill technologies market trends promoting the demand for smart pill technologies include the introduction of breakthrough technologies such as catheter-less pH monitoring, ingestible sensors, and wireless capsule-based GI monitoring, which will hasten the expansion of the smart pill technologies market.

What are the Key Drivers of the Smart Pill Technologies Market Share?

The smart pill technologies market has a broad scope in monitoring and diagnosing diseases. Due to the increased prevalence of gastrointestinal diseases (such as motility disorders, colon cancer, obscure gastrointestinal bleeding, and Crohn's disease), sedentary lifestyle, and high patient compliance due to minimally invasive techniques, the demand for smart pill technologies and global smart pills technology market is expected to grow significantly in the future.

Also, the changing lifestyle-related syndromes and disorders will further boost the smart pill technologies market. Likewise, the increasing disposable income to avail the evolving innovative technologies in the smart pill technologies market will further help in the penetration of the developed as well as developing countries. This will have a great impact on the demand for smart pill technologies.

The rising geriatric population will also act as a driver of the smart pill technologies market since this segment of the population is more prone to IBD, Ulcerative colitis, and Crohn's disease. The World Health Organization (WHO) has estimated that by 2050 the world's geriatric population count will reach around 2 Billion, which will definitely contribute to the rapid growth of the smart pill technologies market.

Chronic therapy monitoring can help in curtailing health care costs as well. To illustrate the smart pill technologies of ambulatory monitoring with the anti-thrombolytic drug can reduce the number of physicians visits and ensure that anti-thrombolytic therapy is adjusted remotely while ensuring compliance. Thus, supporting the smart pill technologies market and increasing the demand for smart pill technologies.

Which is the Leading Region in the Smart Pill Technologies Market?

The global smart pill technologies market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. North America and Europe collectively accounted for the largest market share in the overall smart pill technologies market.

North America accounted for about half the share of smart pill technologies market revenue in 2019. The growth in this region is primarily attributed to the increased demand for smart pill technologies, the adoption of novel technologies, a large patient population, high disposable incomes, and the fresh marketing and commercializing of smart pill products. Asia Pacific is expected to grow at a remarkable CAGR for the smart pills technologies market due to increasing healthcare awareness.

Who are the Key Players in the Smart Pill Technologies Market?

Key players in the global smart pill technologies market include CapsoVision, Inc., Given Imaging, Inc., Medimetrics S.A. de C.V., Olympus Corporation, and Bio-Images Research Limited, IntroMedic Inc., Chongqing Jinshan Science & Technology Group Co. Ltd., Proteus Digital Health Inc., Novartis AG, and Philips Healthcare.

Recent Developments

• The USA Food and Drug Administration authorized Abilify MyCite, aripiprazole tablets with an ingestible sensor from Otsuka Pharmaceuticals and Proteus Digital Health, in November 2017 for the treatment of schizophrenia and other bipolar disorders.
• Proteus Digital Health introduced its first digital cancer chemotherapy tablet to the smart pill technologies market with the goal of assisting clinicians in tracking treatment success and adherence in cancer patients.
• CapsoCloud, a management system that allowed clinicians to retrieve data from the CapsoCam Plus smart pill without the need to analyze capsules post-ingestion, was launched in the United States by CapsoVision Inc.

Scope Of Report

Report Attribute	Details
Growth rate	CAGR of 21% from 2022 to 2032
Base year for estimation	2021
Historical data	2015 to 2020
Forecast period	2022 to 2032
Quantitative units	Revenue in USD million, volume in kilotons, and CAGR from 2022 to 2032
Report coverage	Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis,
Segments covered	Application, Target Area, region
Regional scope	North America; Western Europe, Eastern Europe, Middle East, Africa, ASEAN, South Asia, Rest of Asia, Australia and New Zealand
Country scope	USA, Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Belgium, Poland, Czech Republic, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, Iran, South Africa
Key companies profiled	CapsoVision, Inc.; Given Imaging, Inc.; Medimetrics S.A. de C.V.; Olympus Corporation; and Bio-Images Research Limited; IntroMedic Inc.; Chongqing Jinshan Science & Technology Group Co. Ltd.; Proteus Digital Health Inc.; Novartis AG; and Philips Healthcare.
Customization scope	Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs.

Key Segments

By Application:

• Patient Monitoring
• Drug Delivery
• Capsule Endoscopy

By Target Area:

• Large Intestine
• Small Intestine
• Stomach
• Esophagus

By Region:

• North America
• Latin America
• Asia Pacific
• MEA
• Europe

Frequently Asked Questions

What is the Growth Outlook for the Smart Pill Technologies Market?

The smart pill technologies market is likely to register a two-digit CAGR of 21% during the forecast period.

Who are the Key Players in the Smart Pill Technologies Market?

Key players holding substantial smart pill technologies market share include CapsoVision, Inc., Given Imaging, Inc., Medimetrics S.A. de C.V., Olympus Corporation, and Bio-Images Research Limited, IntroMedic Inc., Chongqing Jinshan Science & Technology Group Co. Ltd., Proteus Digital Health Inc., Novartis AG, and Philips Healthcare.

What is the Future of the Smart Pill Technologies Market?

As per the analysis, the smart pill technologies market share is likely to be USD 6176 Million by 2032.

Which is the Key Driver in the Smart Pill Technologies Market?

Demand for smart pill technologies is likely to be driven by factors such as attractive reimbursement scenarios, patient desire for less invasive treatments, technical improvements in endoscopic techniques, and the growing prevalence of colon cancer.