Ingestible Smart Pills Market - Global Industry Analysis

Ingestible Smart Pills Market

Ingestible Smart Pills Market Industry Size, Share, Demand, Growth 2030

Category: Pharmaceutical Report Format : PDF Pages: 140 Report Code: ZMR-2344 Published Date: Jul-2021 Status : Published

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The ingestible smart pill is a collective term referring to a class of new-age medical devices that resemble a conventional medical pill or a capsule. However, unlike medical pills that carry a drug load, smart pills are miniature electronic devices. Ingestible smart pills have been on the market since the early 2000s and there has already been the considerable adoption of this technology in the mainstream healthcare system. Ingestible smart pills or Nootropics are basically medical devices and small embedded electronic appliances such as sensors, cameras, and trackers. This electronic device can be easily swallowed and provides a complete evaluation of the gastrointestinal tract (GIT). The emergence of these healthcare-cum-technology devices has addressed the soaring need for better diagnosis and monitoring. It has outperformed the conventional GI monitoring endoscopy with more convenient smart pill technology, which has now become the standard non-invasive diagnosis technique for motility disorders. Moreover, it helps physicians in real-time patient monitoring through remote controlling options.

The rising prevalence of geriatric gastrointestinal diseases is driving the growth of ingestible smart pills market since they are efficient to diagnose the diseases effectively. According to Centers for Disease Control and Prevention (CDC), an estimated prevalence rate of Crohn’s disease (a type of gastrointestinal disease) in 2014, ranged from 0.2 to 17 per 100,000 people in the U.S. Similarly, prevalence rate of inflammatory bowel diseases (IBD), in 2014 was estimated to be approximately 410 per 100,000 people in the U.S. Also, changing lifestyle (including shift in diet pattern) is augmenting the growth of ingestible smart pill market. Likewise, increasing disposable income of the patients in developing countries is propelling the growth of ingestible smart pills market, since it is increasing the affordability of patients to avail this diagnostic service. 

Global-Ingestible-Smart-Pills-Market

Capsule endoscope plays a pivotal role in early diagnosis and proper treatment. With new component innovations and hybrid imaging technologies, more patients undergo screening and diagnostic endoscopy. This particular factor is creating a positive impact on the smart pills segment. There has been a noticeable shift of patient care from hospitals to home care. Many patients require constant health monitoring and prefer the comfort of at-home healthcare monitoring over costly and inconvenient hospital care. Sensor embedded systems or diagnostic devices support the monitoring of vital signs such as pulse, pH, temperature, and others all within the comfort of a patient’s home. Integration capabilities of sensors and electronics on materials such as silicon at lower power levels are rising. This is adding value to numerous applications of sensors in drug delivery. Thus, a growing home healthcare market has opened new avenues for the growth of the smart pills segment. 

Based on the component type, ingestible smart pills market has been segmented into smart pills and workstation. Smart pills market is sub-segmented into patient monitoring and capsule endoscopy. Capsule endoscopy market is further sub-segmented into small bowel endoscopy, esophagus endoscopy, and colon endoscopy. The smart pills segment is expected to grow at the fastest rate during the forecast period. Based on applications the ingestible smart pills market is segmented into imaging and patient monitoring. In terms of revenue patient monitoring segment dominated the market in 2016. On the basis of end-user, the ingestible smart pills market is segmented into hospitals, clinics, research institutes and home health care. In terms of revenue, hospitals segment dominated the market in 2016.  

North America is expected to remain the dominant region over the forecast period. The shifted trend for non-invasive treatment in the U.S. has contributed to the large revenue share in the region. Also, the larger share of the market can be attributed to the favorable reimbursement scenario, FDA and other approvals for smart pills technology-based products, and increasing investments by government and other agencies. The Asian market is relatively new to smart pills technology; however, increasing investments by corporate players, changing reimbursement scenario, and support for endoscopy research in this region is driving the growth of this market in Asia Pacific

Some of the key players in Ingestible Smart Pills Market include Body-Cap Medical, CapsoVision, Inc., Check-Cap Ltd, Chongqing Jinshan Science and Component (Group) Co., Ltd., Given Imaging Ltd., IntroMedic Co., Ltd., Medimetrics, Olympus Corporation, Philips Respironics, Proteus Digital Health, Inc.

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