Global Smart Pills Market Report and Forecast 2024-2032

Global Smart Pills Market Outlook

The global smart pills market size attained a value of about USD 1.07 billion in 2023, driven by the growing number of people suffering from gastrointestinal disorders. The market is further expected to grow at a CAGR of 16.2% during the forecast period of 2024-2032 to reach a value of nearly USD 4.13 billion by 2032, driven by the increasing prevalence of addiction across the globe.

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North America Leading the Global Market for Smart Pills

North America is one of the leading markets in the world and is expected to grow significantly during the forecast period. The demand for smart pills in North America is mainly driven by a growing geriatric population, rising disease complexity, strong healthcare infrastructure, the involvement of key companies, and an increasing trend towards the adoption of new technologies in the healthcare sector in the region. Europe also held a significant market share in 2020, which is expected to increase during the forecast period due to the robust medical infrastructure and high diagnostic and care rates in Western Europe and technological advancements.

The Asia Pacific region is also expected to witness a robust growth in the coming years. Factors that contribute to the growth of the smart pills industry in the Asia Pacific include the large population base, the presence of small companies in China and Japan, the rise in people's disposable incomes, technological development, and an increasing trend in research in academic organisations in the area.

Smart Pills: Market Segmentation

Smart pills, variously known as digital pills, are drugs administered to patients who are fitted with edible electronic sensors that transmit wireless signals to devices, such as patches, tablets, or smartphones, outside the body when they are swallowed.

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The disease indications considered in the market can be divided into the following:

• Oesophageal Diseases
• Colon Diseases
• Small Bowel Diseases
• Others

The target area can be segmented as follows:

• Large Intestine 
• Small Intestine
• Stomach 
• Oesophagus
• Others

Smart pills find wide applications in the following segments:

• Capsule Endoscopy 
• Patient Monitoring
• Drug Delivery 
• Others

The end-uses for the product include:

• Diagnostic Centres
• Hospitals
• Research Institutes
• Others

The regional markets for smart pills can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Health Disorders Bolstering the Market Growth of Smart Pills

The rise in the number of people suffering from gastrointestinal disorders would have a positive effect on the growth of the market over the projected period. Gastrointestinal, pancreatic, and liver disorders are a key source of substantial mortality, morbidity, and stress on the healthcare system throughout the globe. The high prevalence of liver and gastrointestinal diseases has led to a significant amount of pressure on the healthcare system, boosting the market growth. Other factors driving the growth of the market include the rising population, growing disposable incomes, and the growing medical sector.

Key Industry Players in the Global Smart Pills Market

The report gives a detailed analysis of the following key players in the global smart pills market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• CapsoVision, Inc.
• Olympus Corporation
• Medtronic Plc
• Koninklijke Philips N.V.
• Proteus Digital Health, Inc.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report