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Ingestible Smart Pills Market - Global Industry Analysis

Ingestible Smart Pills Market By Component (Smart Pills, Workstation), By Application (Imaging, and Monitoring), By End Users (Hospitals, Clinics, Research Institute, and Home Healthcare): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Published Date: 21-Jul-2021 Category: Pharmaceutical Report Format : PDF Pages: 140 Report Code: ZMR-2344 Status : Published

The global Ingestible Smart Pills market accounted for USD 957.9 Million in 2020 and is expected to reach USD 1,700.5 Million by 2028, growing at a CAGR of 7.5% from 2021 to 2028.

Description

Market Overview                                                   

The global Ingestible Smart Pills market accounted for USD 957.9 Million in 2020 and is expected to reach USD 1,700.5 Million by 2028, growing at a CAGR of 7.5% from 2021 to 2028.    

The ingestible smart pill is a revolutionary technological innovation that has reduced the gap between healthcare and digital technology. Smart pills 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 diagnostics 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.

COVID-19 Impact Analysis:

The pandemic has led to increase the demand for drugs, APIs, pills and among others. A second wave of deficiency is observed among various diseases patients which is needed to care. As the pandemic progresses, the manufacturer of pills work around the clock to ensure patients have access to drugs they need.  

The covid-19 has created an opportunity for the numbers of patients as there is high chances of adverse health effects of covid-19 on the people. However, the covid-19 has positively impacted on the ingestible smart pill market.

Growth Factors

The elderly population is more prone to gastrointestinal disorders. 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. Also, this segment is seen as the next big frontier by component in the global ingestible smart pills market, where many of the novel and most interesting advances are expected to take place in the near future. The population with the utmost need for home health care services experiences difficulty in operating these devices. Therefore, creators and developers are striving to increase the usability and accessibility of smart pills, so that these devices offer valuable insights on user health. The devices are developed in such a manner that a layman can interpret the data easily. Most companies in this market provide compatible software that collects data over a long period of time and offers valuable information on patient health along with suggestions to improve lifestyle. These smart pill devices can also be connected to smartphones through the Bluetooth component. Thus, users can view data in a statistical and user-friendly format. This has increased market demand for smart pills globally.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Component Segment Analysis Preview

Based on Component, the global Ingestible Smart Pills market is segmented into Smart Pills and Workstation. Smart pills are sub-segmented into Patient Monitoring and Capsule Endoscopy. Furthermore, the Capsule Endoscopy is segmented into Small Bowel Endoscopy, Esophagus Endoscopy, and Colon Endoscopy. Smart pills segment is expected to grow at fastest rate in the global market over the forecast period.

Application Segment Analysis Preview  

On the basis of Application, the Ingestible Smart Pills market is segmented into Imaging, and Monitoring. Patient monitoring segment is expected to grow at fastest rate in global market over the forecast period.

 End Users Segment Analysis Preview

Hospitals, clinics, research institutes and home health care are key end-users of the global ingestible smart pills market. The hospital's segment dominated the market in terms of revenue in 2020.

Regional Segment Analysis Preview

North America is anticipated to remain the leading region over the forecast period. Gastrointestinal diseases affect around 60 to 70 million Americans annually. Spending on gastrointestinal diseases in the U.S. has been estimated at $142 Million per year in direct and indirect costs.  Asia Pacific is expected to be the fastest growing region in ingestible smart pills market during the forecast period reasons being large geriatric population and increasing investment/expansion by companies.

Key Market Players & Competitive Landscape

The major players operating in the Ingestible Smart Pills market are 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.

The global Ingestible Smart Pills market is segmented as follows:    

By Component

  • Smart Pills
    • Patient Monitoring
    • Capsule Endoscopy
      • Small Bowel Endoscopy
      • Esophagus Endoscopy
      • Colon Endoscopy
  • Workstation

By Application  

  • Imaging
  • Monitoring

By End Users

  • Hospitals
  • Clinics
  • Research Institute
  • Home Healthcare

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Component
        • 2.1.1.2. Market Attractiveness Analysis, By Application
        • 2.1.1.3. Market Attractiveness Analysis, By End Users
        • 2.1.1.4. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Ingestible Smart Pills Market, 2016 – 2028 (USD Million)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Ingestible Smart Pills Market – Component Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Component, 2020 & 2028
    • 4.2. Smart Pills
      • 4.2.1. Market End Users and Forecast, By Region (USD Million)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
      • 4.2.4. Patient Monitoring
        • 4.2.4.1. Key Market Trends, Growth Factors, & Opportunities
        • 4.2.4.2. Capsule Endoscopy
        • 4.2.4.3.Key Market Trends, Growth Factors, & Opportunities
        • 4.2.4.4.. Small Bowel Endoscopy
        • 4.2.4.5. Key Market Trends, Growth Factors, & Opportunities
        • 4.2.4.6. Esophagus Endoscopy
        • 4.2.4.7. Key Market Trends, Growth Factors, & Opportunities
        • 4.2.4.8. Culon Endoscopy
        • 4.2.4.9. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Workstation
      • 4.3.1. Market End Users and Forecast, By Region (USD Million)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Ingestible Smart Pills Market – Application Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By Application, 2020 & 2028
    • 5.2. Imaging
      • 5.2.1. Market End Users and Forecast, By Region (USD Million)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Monitoring
      • 5.3.1. Market End Users and Forecast, By Region (USD Million)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 6 Ingestible Smart Pills Market – End Users Segment Analysis
    • 6.1. Overview
      • 6.1.1. Market Revenue Share, By End Users, 2020 & 2028
    • 6.2. Hospitals
      • 6.2.1. Market End Users and Forecast, By Region (USD Million)
      • 6.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.3. Clinics
      • 6.3.1. Market End Users and Forecast, By Region (USD Million)
      • 6.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.4. Research Institute
      • 6.4.1. Market End Users and Forecast, By Region (USD Million)
      • 6.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.5. Home Healthcare
      • 6.5.1. Market End Users and Forecast, By Region (USD Million)
      • 6.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.5.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 7 Ingestible Smart Pills Market – Regional Analysis
    • 7.1. Overview
      • 7.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 7.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Million)
    • 7.2. North America
      • 7.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 7.2.2. North America Market Revenue, By Component, 2016 – 2028
      • 7.2.3. North America Market Revenue, By Application, 2016 – 2028
      • 7.2.4. North America Market Revenue, By End Users, 2016 – 2028
      • 7.2.5. U.S.
        • 7.2.5.1. U.S. Market Revenue, By Component, 2016 – 2028
        • 7.2.5.2. U.S. Market Revenue, By Application, 2016 – 2028
        • 7.2.5.3. U.S. Market Revenue, By End Users, 2016 – 2028
      • 7.2.6. Canada
        • 7.2.6.1. Canada Market Revenue, By Component, 2016 – 2028
        • 7.2.6.2. Canada Market Revenue, By Application, 2016 – 2028
        • 7.2.6.3. Canada Market Revenue, By End Users, 2016 – 2028
      • 7.2.7. Mexico
        • 7.2.7.1. Mexico Market Revenue, By Component, 2016 – 2028
        • 7.2.7.2. Mexico Market Revenue, By Application, 2016 – 2028
        • 7.2.7.3. Mexico Market Revenue, By End Users, 2016 – 2028
    • 7.3. Europe
      • 7.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 7.3.2. Europe Market Revenue, By Component, 2016 – 2028
      • 7.3.3. Europe Market Revenue, By Application, 2016 – 2028
      • 7.3.4. Europe Market Revenue, By End Users, 2016 – 2028
      • 7.3.5. Germany
        • 7.3.5.1. Germany Market Revenue, By Component, 2016 – 2028
        • 7.3.5.2. Germany Market Revenue, By Application, 2016 – 2028
        • 7.3.5.3. Germany Market Revenue, By End Users, 2016 – 2028
      • 7.3.6. France
        • 7.3.6.1. France Market Revenue, By Component, 2016 – 2028
        • 7.3.6.2. France Market Revenue, By Application, 2016 – 2028
        • 7.3.6.3. France Market Revenue, By End Users, 2016 – 2028
      • 7.3.7. U.K.
        • 7.3.7.1. U.K. Market Revenue, By Component, 2016 – 2028
        • 7.3.7.2. U.K. Market Revenue, By Application, 2016 – 2028
        • 7.3.7.3. U.K. Market Revenue, By End Users, 2016 – 2028
      • 7.3.8. Italy
        • 7.3.8.1. Italy Market Revenue, By Component, 2016 – 2028
        • 7.3.8.2. Italy Market Revenue, By Application, 2016 – 2028
        • 7.3.8.3. Italy Market Revenue, By End Users, 2016 – 2028
      • 7.3.9. Spain
        • 7.3.9.1. Spain Market Revenue, By Component, 2016 – 2028
        • 7.3.9.2. Spain Market Revenue, By Application, 2016 – 2028
        • 7.3.9.3. Spain Market Revenue, By End Users, 2016 – 2028
      • 7.3.10. Rest of Europe
        • 7.3.10.1. Rest of Europe Market Revenue, By Component, 2016 – 2028
        • 7.3.10.2. Rest of Europe Market Revenue, By Application, 2016 – 2028
        • 7.3.10.3. Rest of Europe Market Revenue, By End Users, 2016 – 2028
    • 7.4. Asia Pacific
      • 7.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 7.4.2. Asia Pacific Market Revenue, By Component, 2016 – 2028
      • 7.4.3. Asia Pacific Market Revenue, By Application, 2016 – 2028
      • 7.4.4. Asia Pacific Market Revenue, By End Users, 2016 – 2028
      • 7.4.5. China
        • 7.4.5.1. China Market Revenue, By Component, 2016 – 2028
        • 7.4.5.2. China Market Revenue, By Application, 2016 – 2028
        • 7.4.5.3. China Market Revenue, By End Users, 2016 – 2028
      • 7.4.6. Japan
        • 7.4.6.1. Japan Market Revenue, By Component, 2016 – 2028
        • 7.4.6.2. Japan Market Revenue, By Application, 2016 – 2028
        • 7.4.6.3. Japan Market Revenue, By End Users, 2016 – 2028
      • 7.4.7. India
        • 7.4.7.1. India Market Revenue, By Component, 2016 – 2028
        • 7.4.7.2. India Market Revenue, By Application, 2016 – 2028
        • 7.4.7.3. India Market Revenue, By End Users, 2016 – 2028
      • 7.4.8. South Korea
        • 7.4.8.1. South Korea Market Revenue, By Component, 2016 – 2028
        • 7.4.8.2. South Korea Market Revenue, By Application, 2016 – 2028
        • 7.4.8.3. South Korea Market Revenue, By End Users, 2016 – 2028
      • 7.4.9. South-East Asia
        • 7.4.9.1. South-East Asia Market Revenue, By Component, 2016 – 2028
        • 7.4.9.2. South-East Asia Market Revenue, By Application, 2016 – 2028
        • 7.4.9.3. South-East Asia Market Revenue, By End Users, 2016 – 2028
      • 7.4.10. Rest of Asia Pacific
        • 7.4.10.1. Rest of Asia Pacific Market Revenue, By Component, 2016 – 2028
        • 7.4.10.2. Rest of Asia Pacific Market Revenue, By Application, 2016 – 2028
        • 7.4.10.3. Rest of Asia Pacific Market Revenue, By End Users, 2016 – 2028
    • 7.5. Latin America
      • 7.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 7.5.2. Latin America Market Revenue, By Component, 2016 – 2028
      • 7.5.3. Latin America Market Revenue, By Application, 2016 – 2028
      • 7.5.4. Latin America Market Revenue, By End Users, 2016 – 2028
      • 7.5.5. Brazil
        • 7.5.5.1. Brazil Market Revenue, By Component, 2016 – 2028
        • 7.5.5.2. Brazil Market Revenue, By Application, 2016 – 2028
        • 7.5.5.3. Brazil Market Revenue, By End Users, 2016 – 2028
      • 7.5.6. Argentina
        • 7.5.6.1. Argentina Market Revenue, By Component, 2016 – 2028
        • 7.5.6.2. Argentina Market Revenue, By Application, 2016 – 2028
        • 7.5.6.3. Argentina Market Revenue, By End Users, 2016 – 2028
      • 7.5.7. Rest of Latin America
        • 7.5.7.1. Rest of Latin America Market Revenue, By Component, 2016 – 2028
        • 7.5.7.2. Rest of Latin America Market Revenue, By Application, 2016 – 2028
        • 7.5.7.3. Rest of Latin America Market Revenue, By End Users, 2016 – 2028
    • 7.6. The Middle-East and Africa
      • 7.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 7.6.2. The Middle-East and Africa Market Revenue, By Component, 2016 – 2028
      • 7.6.3. The Middle-East and Africa Market Revenue, By Application, 2016 – 2028
      • 7.6.4. The Middle-East and Africa Market Revenue, By End Users, 2016 – 2028
      • 7.6.5. GCC Countries
        • 7.6.5.1. GCC Countries Market Revenue, By Component, 2016 – 2028
        • 7.6.5.2. GCC Countries Market Revenue, By Application, 2016 – 2028
        • 7.6.5.3. GCC Countries Market Revenue, By End Users, 2016 – 2028
      • 7.6.6. South Africa
        • 7.6.6.1. South Africa Market Revenue, By Component, 2016 – 2028
        • 7.6.6.2. South Africa Market Revenue, By Application, 2016 – 2028
        • 7.6.6.3. South Africa Market Revenue, By End Users, 2016 – 2028
      • 7.6.7. Rest of Middle-East Africa
        • 7.6.7.1. Rest of Middle-East Africa Market Revenue, By Component, 2016 – 2028
        • 7.6.7.2. Rest of Middle-East Africa Market Revenue, By Application, 2016 – 2028
        • 7.6.7.3. Rest of Middle-East Africa Market Revenue, By End Users, 2016 – 2028
  • Chapter No. 8 Ingestible Smart Pills Market – Industry Analysis
    • 8.1. Introduction
    • 8.2. Market Drivers
      • 8.2.1. Driving Factor 1 Analysis
      • 8.2.2. Driving Factor 2 Analysis
    • 8.3. Market Restraints
      • 8.3.1. Restraining Factor Analysis
    • 8.4. Market Opportunities
      • 8.4.1. Market Opportunity Analysis
    • 8.5. Porter’s Five Forces Analysis
    • 8.6. PEST Analysis
    • 8.7. Regulatory Landscape
    • 8.8. Component Landscape
    • 8.9. Regional Market Trends
      • 8.9.1. North America
      • 8.9.2. Europe
      • 8.9.3. Asia Pacific
      • 8.9.4. Latin America
      • 8.9.5. The Middle-East and Africa
    • 8.10. Pricing Analysis
    • 8.11. Value Chain Analysis
    • 8.12. Downstream Buyers
    • 8.13. Distributors/Traders List
  • Chapter No. 9 Competitive Landscape
    • 9.1. Company Market Share Analysis – 2019
      • 9.1.1. Global Ingestible Smart Pills Market: Company Market Share, 2019
      • 9.1.2. Global Ingestible Smart Pills Market, Company Market Revenue, 2016 – 2019 (USD Million)
      • 9.1.3. Global Ingestible Smart Pills Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 9.1.4. Global Ingestible Smart Pills Market: Radar Determinant Chart, 2019
    • 9.2. Strategic Developments
      • 9.2.1. Acquisitions & Mergers
      • 9.2.2. New Product Launch
      • 9.2.3. Regional Expansion
    • 9.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 10 Company Profiles
    • 10.1. Body-Cap Medical
      • 10.1.1. Company Overview
      • 10.1.2. Key Executives
      • 10.1.3. Product Portfulio
      • 10.1.4. Financial Overview
      • 10.1.5. Operating Business Segments
      • 10.1.6. Business Performance
      • 10.1.7. Recent Developments
    • 10.2. CapsoVision, Inc
    • 10.3. Check-Cap Ltd.
    • 10.4. Chongqing Jinshan Science and Component (Group) Co., Ltd
    • 10.5. Given Imaging Ltd
    • 10.6. IntroMedic Co., Ltd
    • 10.7. Medimetrics
    • 10.8. Olympus Corporation
    • 10.9. Philips Respironics
    • 10.10. Proteus Digital Health, Inc
  • Chapter No. 11 Marketing Strategy Analysis
    • 11.1. Marketing Channel
    • 11.2. Direct Marketing
    • 11.3. Indirect Marketing
    • 11.4. Marketing Channel Development Trends
    • 11.5. Economic/Pulitical Application Change
  • Chapter No. 12 Research Methodulogy
    • 12.1. Research Methodulogy
    • 12.2. Phase I - Secondary Research
    • 12.3. Phase II - Data Modeling
      • 12.3.1. Company Share Analysis Model
      • 12.3.2. Revenue Based Modeling
    • 12.4. Phase III - Primary Research
    • 12.5. Research Limitations
      • 12.5.1. Assumptions

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Ingestible Smart Pills market. Zion Research has collected and analyzed key data belong to the global Ingestible Smart Pills market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Ingestible Smart Pills across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Ingestible Smart Pills industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Ingestible Smart Pills market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

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.


Frequently Asked Questions

The global Ingestible Smart Pills market was valued at USD 957.9 Million in 2020.

The global Ingestible Smart Pills market is expected to reach USD 1700.5 Million by 2028, growing at a CAGR of 7.5% between 2021 to 2028.   

 

Major driving factors for the growth of Ingestible Smart Pills market are Escalating demand for clean and reliable power supply.

North America is anticipated to remain the leading region over the forecast period. Gastrointestinal diseases affect around 60 to 70 million Americans annually. Spending on gastrointestinal diseases in the U.S. has been estimated at $142 billion per year in direct and indirect costs.  Asia Pacific is expected to be the fastest growing region in ingestible smart pills market during the forecast period reasons being large geriatric population and increasing investment/expansion by companies.  

The major players operating in the Ingestible Smart Pills market are 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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