Smart Pills Technology Market Analysis | 2022-2028

Market Insights

The Smart Pills Technology Market was estimated at US$ 3.13 billion in 2021 and is expected to grow at a CAGR of 8.28% during 2022-2028 to reach US$ 6.9 billion in 2028.

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What are smart pills?

Smart pills are ingestible, capsule-sized medical gadgets with sensors, cameras, patches, and trackers that aid in more accurate diagnosis, patient monitoring, and targeted drug delivery. They often come in the shape of pills the size of vitamin capsules and have a small wearable sensor patch, a smartphone app, and a provider site.

After being ingested, it activates in the stomach, where the sensors offer data on the patient's health parameters and the efficacy of drug therapy, enabling better-informed medical decisions and tailored treatments. Moreover, the field of gastrointestinal diagnosis has been completely transformed by smart tablets. Because these pills are non-invasive, they can serve as a strong substitute for invasive procedures like gastrointestinal endoscopy and colonoscopy.

Miniature electronic gadgets and smart pills are created and molded to resemble medicine capsules. They contain chemical, pH, or image sensors and perform exceedingly sophisticated activities like imaging, sensing, and drug delivery. These pills go through the digestive system to collect data that would otherwise be difficult to obtain and readily discarded from the body.

Market Dynamics

The Smart Pills Technology market is experiencing robust growth, driven by increasing demand for innovative healthcare solutions. These intelligent pills, equipped with sensors and wireless communication capabilities, revolutionize patient monitoring and medication adherence. The rising prevalence of chronic diseases and the aging population amplify the need for real-time health tracking.

Moreover, advancements in miniaturization and sensor technologies enhance the feasibility and acceptance of smart pills. The market is characterized by intense competition, with key players focusing on research and development to introduce cutting-edge solutions. Regulatory approvals and strategic collaborations further shape the market dynamics. As healthcare systems embrace digital transformation, the Smart Pills Technology market is poised for sustained expansion, offering a paradigm shift in personalized and remote patient care.

Several investments/guidelines in the industry have been directed in recent years, which would boost the overall market. Some of them are:

• The small pills technology market is expected to expand significantly. This increase is the result of more research being published that supports the use of smart tablets as a form of disease therapy. For instance, the IBD (Inflammatory Bowel Diseases) Journal published an article by SmartTab titled "Advancing High Tech Drug Delivery Systems for the Treatment of Crohn's Disease" in January 2021. Radio frequency (RF) signalling is used by the company's capsule technology to set off an ideal release of the pharmaceutical contents to the designated areas of the GI tract.

Segments Analysis

By Target Area Type

 The market is segmented into esophagus, stomach, small intestine, and large intestine.

By Disease Indication Type

The market is divided into Barrett's esophagus, small bowel diseases, colon cancer, and others. 

By Application Type

The market is further segmented into capsule endoscopy, drug delivery, patient monitoring, and others.

Through 2028, the smart pill technology market is predicted to show noticeable growth in the capsule endoscopy segment. The growth in research activity by various organizations is mostly to blame for this rise. For instance, the use of various colorectal cancer screening techniques, such as capsule endoscopy, improves adherence to screening, according to the University of Texas Health Science Center. The institution concluded from a study it did used patients randomly chosen between the ages of 50 and 75 that capsule endoscopy produces superior diagnostic outcomes to CT colonography. These results are anticipated to fuel the segment's expansion during the projection period.

Regional Analysis

The smart pills technology market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2021, North America is anticipated to be the smart pills technology market's largest region. 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 approvals for digital smart tablets. Over the anticipated period, such actions are anticipated to fuel regional growth.

Some of the key elements that are anticipated to propel North America to the forefront of the smart pill market growth include the expanding elderly population, the complexity of numerous diseases, and the presence of a strong healthcare infrastructure. The market for smart pill technologies may also experience substantial expansion in the Asia Pacific area. The significant factors that will affect the expansion of the smart pill technologies market in the Asia Pacific are the rising prevalence of stomach and gastrointestinal problems in the region and the growing support of the regional government bodies to establish a robust healthcare infrastructure.

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Key Players

The overall competitive landscape has been affected due to these mergers and acquisitions. The following are the major players in the smart pills technology market:

• CapsoVision, Inc.
• Check Cap
• HQ, Inc.
• IntroMedic Co., Ltd
• JINSHAN Science and Technology
• Koninklijke Philips N.V
• Medtronic Plc.
• Olympus Corporations
• Proteus Digital Health
• RF Co., Ltd

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

Recent Mergers & Acquisitions

The market for smart pills technology is highly competitive. The state of the economy and government assistance have a direct impact on the expansion of businesses. Based on their product's quality and market penetration in both the target and growing markets, these companies distinguish their smart pills technology driver in the industry. Furthermore, recent important mergers and acquisitions in the sector have had a big impact on the dynamics of competition. For instance:

• In January 2021, Pear Therapeutics, Inc., and digital health startup etectRx, Inc., initiated a groundbreaking collaboration, marking the first-of-its-kind exploration into the application of Prescription Digital Therapeutics (PDTs) and adherence sensors for central nervous system (CNS) disorders. This strategic partnership is especially timely, addressing the pressing need for innovative solutions in mental health. Leveraging etectRx's FDA-cleared ID-Cap System, a precise and versatile digital pill technology, the collaboration aims to develop up to two product candidates. Recognized as an ingestible event marker by the FDA, the ID-Cap System not only enhances medication adherence but also facilitates targeted digital and non-digital therapeutic interventions. This pioneering venture reflects a pivotal moment in advancing mental health treatment, aligning with the urgent demand for novel approaches in the field.
• In September 2020, The U.S. Food & Drug Administration (FDA) applied enforcement discretion to permit at-home administration of the CapsoCam Plus small bowel capsule endoscope during the COVID-19 pandemic for patients who are determined to be eligible for at-home administration, according to CapsoVision, a pioneer in the gastroenterology diagnostics market, whom today announced this. For patients who qualify, a remote capsule endoscopy operation is allowed by the labeling update, negating the requirement for face-to-face contact between the patient and clinic staff.
• Copper and magnesium, which are metal-based minerals that are safe and easily absorbed by the body, were used to make this hardware by IT businesses (like Proteus). Electrolytes in the body trigger a signal when the sensor is swallowed, and this signal is sent to an adhesive, battery-operated patch that resembles a Band-Aid and is worn on the belly. The patch provides a signal to a smartphone or server-based software, which then sends the data to a drugstore or doctor's office. The sensor can transmit data about dosage accuracy or adherence, schedule prescriptions, and determine when the patient needs the medication most.