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    Smart Pills Technology Market Report

    Smart Pills Technology Market Report
    Report code - SR2194 Delivery - 2 Weeks
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    Smart Pills Technology Market Size, Share, Trend, Forecast, Competitive Analysis, and Grow See more...

    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.

    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 smart pills are created and moulded 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.

    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 support 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.

    Segment Analysis

    The market is divided based on target area, disease indication, application, and end user. On the basis of target area, the market is segmented into esophagus, stomach, small intestine, and large intestine.

    On the basis of disease indication, the market is divided into Barrett's esophagus, small bowel diseases, colon cancer, and others. On the basis of application, 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 organisations is mostly to blame for this rise. For instance, the use of various colorectal cancer screening techniques, such as capsule endoscopy, improves the adherence to screening, according to the University of Texas Health Science Center. The institution concluded from a study it did using 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.

    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.

    Key Players

    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 the 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:

    • Prescription digital therapeutics (PDTs) and adherence sensors will be used to create up to two product candidates for the central nervous system (CNS) under the terms of a contract between Pear Therapeutics, Inc. and digital health startup etectRx, Inc., which was signed in January 2021. This partnership is the first of its kind to investigate the usage of PDTs and digital pill solutions. This partnership between etectRx and Pear Therapeutics comes at a crucial time for the field of mental health, which urgently needs new solutions. The ID-Cap System from etectRx, an FDA-cleared digital pill system that is precise, adaptable, and beautiful, increases medication adherence and improves patient outcomes. The FDA has approved the ID-Cap System as an ingestible event marker, and it has the special capacity to direct digital and non-digital therapeutic interventions
    • 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, who today announced this. For patients who qualify, a totally remote capsule endoscopy operation is allowed by the labelling 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 smart phone 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, scheduling prescriptions, and determining when the patient needs the medication most.

    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

    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.

    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. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

    Frequently Asked Questions (FAQ)

    The smart pills technology market was valued at US$ 3.13 billion in 2021.

    The smart pills technology market valued at US$ ~6.9 billion in 2028.

    The smart pills technology market is growing at a CAGR of 8.28% over the forecast period.

    The major players in the smart pills technology market are 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.

    The smart pills technology market is studied from 2016 - 2028.

    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.

    In 2021, North America is anticipated to be the smart pills technology market's largest region.