Smart Pills Market Size, Share, Trends, Growth 2032

Smart Pills Industry Prospective:

The global smart pills market size was worth around USD 1.78 billion in 2023 and is predicted to grow to around USD 4.98 billion by 2032 with a compound annual growth rate (CAGR) of roughly 12.09% between 2024 and 2032.

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In order to give the users of this report a comprehensive view of the smart pills market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

Smart Pills Market: Growth Drivers

A collective term that refers to a class of new age medical devices that resemble conventional medical pills or a capsule is called a smart pill(s). Yet, unlike medical pills that carry drug load, smart pills are small miniature electronic devices. Smart pills have been in the market since the early 2000s and have already been adopted by the healthcare system. Nootropics or smart pills are basically small-embedded electronic appliances or medical devices that are embedded with cameras, sensors, and trackers. These electronic devices provide a complete evaluation of the gastrointestinal tract (GIT) and can be swallowed easily. The advent of these healthcare-cum-technology devices has addressed the soaring needs for better diagnosis and monitoring.

These smart pills have overtaken the conventional method of gastrointestinal tract monitoring endoscopy with better and convenient pill technology, which is now becoming the standard method of a non-invasive diagnostic technique for serious disorders. Smart pills also help physicians in immediate monitoring of patients through remote controlling options.

The growing prevalence of chronic gastrointestinal illnesses is driving the smart pills market globally, as these are more efficient in diagnosing these diseases. As per the Centers for Disease Control and Prevention, in 2015, the prevalence rate of Crohn’s disease ranged from approximately 0.2 to 18 per 100,000 people in the U.S. Additionally, the changing lifestyle also includes a shift in the dietary patterns, which is also boosting the smart pills market globally.

Similarly, the rising disposable income of the population in developing countries of the Asia Pacific is further propelling this market, owing to its affordability. Furthermore, there has also been a noticeable shift of patients from hospitals to home care settings. Many patients require constant health monitoring and prefer the comforts of home healthcare monitoring over the costly and inconvenient hospital care, which is further boosting the market growth for smart pills.

The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new component launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.

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Smart Pills Market: Segmentation

The study provides a decisive view of the smart pills market by segmenting it based on component, application, end-user, and region.

The component segment of the global smart pills market includes workstation and smart pills (capsule endoscopy and patient monitoring). The capsule endoscopy segment further includes esophagus endoscopy, small bowel endoscopy, and colon endoscopy.

On the basis of application, the smart pills market is bifurcated into patient monitoring and imaging.

By end-user, the smart pills market includes clinics, hospitals, home healthcare, and research institutes.

Smart Pills Market: Report Scope

Smart Pills Market: Regional Analysis

The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with its further classification into major countries.

North America is likely to dominate the global smart pills market over the forecast time period, owing to the growing of non-invasive treatments in the U.S. and Canada, favorable reimbursement policies, FDA approvals for smart pills, and rising investments by government and private agencies. The Asia Pacific smart pills market is relatively new to the smart pills technology, but the rising support for endoscopy research, growing investments by corporate players, and changing reimbursement scenario across the region is likely to drive the growth of the smart pill technology in the Asia Pacific.

Smart Pills Market: Competitive Analysis

The global smart pills market is dominated by players like:

• Proteus Digital Health
• Check-Cap
• Body-Cap Medical
• CapsoVision
• Medimetrics
• Given Imaging
• Chongqing Jinshan Science and Technology
• IntroMedic
• Olympus Corporation
• Philips Respironics

This report segments the global smart pills market into:

Global Smart Pills Market: By Component

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

Global Smart Pills Market: By Application

• Imaging

• Monitoring

Global Smart Pills Market: By End-User

• Hospitals
• Clinics
• Research Institutes
• Home Healthcare

Global Smart Pills Market: By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa