Global Smart Pills Market Assessment, By Type [Product, Tools, Patient Monitoring Software], By Target Area [Esophagus, Small Intestine, Large Intestine, Stomach], By Application [Capsule Endoscopy, Targeted Drug Delivery, Vital Sign Monitoring], By Disease Indication [Celiac Disease, Crohn’s Disease, Neurological Disorder, Occult GI Bleeding, Small Bowel Tumors, Others], By End-user [Hospitals, Diagnostic Centers, Others], By Region, Opportunities and Forecast, 2017-2031F

Smart Pills Market is projected to witness a CAGR of 11.51% during the forecast period 2024-2031, growing from USD 1.18 billion in 2023 to USD 2.82 billion in 2031.

Smart Pills Market Size, Share, Trends and Revenue 2031

Global smart pills market&nbsp;is projected to witness a&nbsp;CAGR of 11.51%&nbsp;during the forecast period 2024-2031, growing from&nbsp;USD 1.18 billion&nbsp;in 2023 to&nbsp;USD 2.82 billion&nbsp;in 2031. The market&rsquo;s expansion is supported by the increasing patient preference for minimally invasive diagnostic procedures, technological advancements in smart pill technologies, rising cases of colorectal cancer, and a growing preference for capsule endoscopy.
The growing awareness about the various advantages associated with smart pills, including potential applications in the early diagnosis of several gut-related diseases, diet, and personalized medicine, is positively influencing the expansion of the market. The rising efforts by various researchers towards the development of advanced smart pills for sampling and sensing gut are also expected to aid in diagnosing a wide range of diseases in a time-efficient manner and monitor patient health, thus improving clinical outcomes. In 2024, researchers from the University of California introduced smart pills that are equipped with sensors that can detect different gases linked with conditions such as gastric cancer and gastritis and can also be tracked through a newly developed wearable system.
The increasing utilization of smart pill technology in the detection of colorectal cancer, coupled with the growing burden of the disease, is another major factor supporting the expansion of the market. According to the estimates of the World Health Organization (WHO), colorectal cancer is the third most common cancer across the globe and accounts for about 10% of cancer cases. Smart pills are expected to indicate the presence of several chronic diseases, including cancer, in the coming years by monitoring physiological parameters and biomarkers, boosting the chances of successful outcomes.
<h2 style="text-align: justify;">Technological Advancements Aid Market Growth</h2>
Technological advancements are expected to provide lucrative growth opportunities for the market in the coming years. The advancements have resulted in the incorporation of sophisticated technology in these pills, allowing them to transmit and gather a wide set of information, such as detect specific biomarkers and measure temperature and pH levels. Continuous advancements have also supported the development of microelectronic systems that have the ability to process and capture data and easily integrate into capsules while communicating with external devices such as wearables and smartphones. This allows for seamless data analysis and sharing, which aids in the development of personalized treatment plans and accurate diagnoses.
Additionally, various academic and research institutions are also focusing on technological advancements and the development of novel technologies. In 2023, researchers from California Institute of Technology successfully developed a GPS for smart pills that are capable of traveling through the human body and accurately diagnosing ailments. The technology known as&nbsp;Ingestible Microdevices for Anatomic-mapping of Gastrointestinal-tract (iMAG) is easy to follow and accurate. Such developments are expected to positively influence the expansion of the market in the coming years.
<h2 style="text-align: justify;">Increasing Preference for Non-Invasive Diagnostic Procedures Supports Market Expansion</h2>
The rising preference for non-invasive diagnostic procedures can be attributed to their ability to prioritize the safety and comfort of the patients, improving patient satisfaction and providing a positive healthcare experience. Invasive diagnostic procedures carry various risks, including damage to surrounding organs or tissue, bleeding, and infection, and can cause significant emotional distress and physical discomfort to the patient. Additionally, the market is also witnessing significant growth due to the growing popularity of different applications of smart pills, including capsule endoscopy, that offer a wide range of benefits to both patients and healthcare professionals. Capsule endoscopy is used for diagnosing a wide range of diseases and disorders, including celiac disease, gastrointestinal bleeding, ulcerative colitis, Crohn&rsquo;s disease, and colon and rectal cancer, among others.
<h2 style="text-align: justify;">North America is Expected to Account for Significant Market Share</h2>
The growth of the market in the region is supported by the expansion of the healthcare sector in the region, strong presence of key market players, high acceptance rate of new technologies, and increasing incidences of chronic diseases. Additionally, the rising investments towards research and development activities are bolstering the growth of the market in North America. In June 2024, a team of researchers from the USC Viterbi School of Engineering, California, United States, developed an ingestible sensor for providing real-time location tracking and detecting stomach gases. The membranes of the capsules are designed from materials that change their behavior when they come in contact with ammonia gas. Ammonia is a component of H pylori, a type of gut bacteria whose elevated levels can be indicators of irritable bowel syndrome, peptic ulcers, and gastric cancer. Such inventions are expected to aid in the early detection of different types of diseases, including gastric cancer. As per the estimates of the American Cancer Society, approximately 26,890 new cases of gastric cancer and 10,880 deaths because of the disease are expected to occur in the United States in 2024. They also estimate that gastric cancer accounts for approximately 1.5% of the new cancer cases that are diagnosed in the United States every year. Thus, providing lucrative growth opportunities to the market and supporting its expansion in North America.
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<h2 style="text-align: justify;">Hospitals are Anticipated to Hold Significant Share of the Market</h2>
The growing adoption of smart pills by hospitals can be attributed to the different advantages associated with their usage such as their ability to continuously monitor vital signs including temperature and heart rate and transmit the collected data to healthcare professionals. Due to this, healthcare professionals are able to detect abnormalities earlier and intervene in a time-efficient manner, which in turn improves patient outcomes and reduces the requirement for frequent hospital visits. The real-time monitoring of patient health allows healthcare providers to ensure that the treatment regime is being followed and alter the treatment plan depending upon their progress, thus propelling their requirements from hospitals to enhance patient experience and prevent various complications.
Furthermore, the rising investments, partnerships, and initiatives to support the construction of smart hospitals and the upgradation of existing ones are other major factors boosting the segment's expansion. In March 2024, the Greek government announced a 400 million upgrade for 156 health centers and 80 hospital units. The initiative includes the acquisition of medical equipment, reform implementation, and infrastructure improvements, and it aims to improve the healthcare system for patients. Such investments and initiatives are expected to propel the requirement for advanced medical devices from hospitals, including smart pills, bolstering the global smart pills market growth.
Future Market Scenario&nbsp;(2024-2031F)
1.&nbsp;Smart pills are expected to revolutionize the way in which various diseases and disorders are treated and monitored in the coming years. They can target drug delivery and release medications at specific locations with the help of microfluidic systems, thus improving the efficacy of treatments and reducing side effects. They can also provide real-time data on the rate of drug absorption, aiding physicians in making personalized adjustments to the dosage of drugs.
2.&nbsp;As per the global smart pills market analysis, the rising cases of cancer are also expected to provide lucrative growth opportunities to the market as smart pill technology has the potential to aid cancer treatment and diagnosis with the help of specific biomarker sensors. Due to this, the smart pills could monitor the effectiveness of the treatment in real-time and detect early signs of cancer, enabling swift intervention and boosting the chances of successful outcomes.
3.&nbsp;The technology is also expected to aid healthcare professionals in addressing the issue of medication errors by monitoring if medication is missed, which in turn will ensure that the therapeutic benefits of the medication are achieved, and the risks associated with medication error are avoided.
Report Scope
&ldquo;Smart Pills Market Assessment, Opportunities and Forecast, 2017-2031F&rdquo;, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of the global smart pills market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031F. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
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Report Attribute
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Details
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Base Year of the Analysis
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2023
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Historical Period
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2017-2022
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Forecast Period
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2024-2031F
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Projected Growth Rate
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CAGR of 11.51% between 2024-2031F
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Revenue Forecast in 2031
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USD 2.82 billion
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Segments Covered
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Type, Target Area, Application, Disease Indication, End-user
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Regions Covered
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North America, Europe, South America, Asia-Pacific, Middle East and Africa
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Key Companies Profiled
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Medtronic plc, Olympus Corporation, CapsoVision, Inc., Otsuka Holdings Co., Ltd., Medisafe, Check-Cap&nbsp;Ltd., IntroMedic&nbsp;Co., Ltd., Koninklijke Philips N.V., Novartis AG, PENTAX Medical
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Customization Scope
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15% free report customization with purchase
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Pricing and Purchase Options
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Avail the customized purchase options to fulfill your precise research needs
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Delivery Format
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PDF and Excel through email (subject to the license purchased)
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In this report, the&nbsp;global&nbsp;smart pills market&nbsp;has been segmented into the following categories:
<ul style="text-align: justify;">
<li>By Type
<ul>
<li>Product</li>
<li>Tools</li>
<li>Patient Monitoring Software</li>
</ul>
</li>
<li>By Target Area
<ul>
<li>Esophagus</li>
<li>Small Intestine</li>
<li>Large Intestine</li>
<li>Stomach</li>
</ul>
</li>
<li>By Application
<ul>
<li>Capsule Endoscopy</li>
<li>Targeted Drug Delivery</li>
<li>Vital Sign Monitoring</li>
</ul>
</li>
<li>By Disease Indication
<ul>
<li>Celiac Disease</li>
<li>Crohn&rsquo;s Disease</li>
<li>Neurological Disorder</li>
<li>Occult GI Bleeding</li>
<li>Small Bowel Tumors</li>
<li>Others</li>
</ul>
</li>
<li>By End-user
<ul>
<li>Hospitals</li>
<li>Diagnostic Centers</li>
<li>Others</li>
</ul>
</li>
<li>By Region
<ul>
<li>North America</li>
<li>South America</li>
<li>Europe</li>
<li>Asia-Pacific</li>
<li>Middle East and Africa</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
The increasing efforts of the key players of the market towards research and development activities are boosting the global smart pills market size. Such activities aid market players in evaluating the safety and efficacy of different technologies, allowing them to receive approval from various regulatory bodies. In May 2024, Medtronic&rsquo;s PillCam Genius SB capsule kit received 510 (k) clearance from the FDA. The new technology comprises a link device and a pill that adheres to the abdomen of the patient and replaces the requirement of a sensor belt and data recorder. This clearance will ensure patients experience comfort by eliminating the requirement for a bulky recorder, supporting the market&rsquo;s expansion.
Key Players Operating in the Global Smart Pills Market are:
<ul style="text-align: justify;">
<li>Medtronic plc</li>
<li>Olympus Corporation</li>
<li>CapsoVision, Inc.</li>
<li>Otsuka Holdings Co., Ltd.</li>
<li>Medisafe</li>
<li>Check-Cap&nbsp;Ltd.</li>
<li>IntroMedic&nbsp;Co., Ltd.</li>
<li>Koninklijke Philips N.V.</li>
<li>Novartis AG</li>
<li>PENTAX Medical</li>
</ul>
Markets and Data report answers the following questions:
<ul style="text-align: justify;">
<li>What is the current and future market size of the product/service in question globally or specific to different countries?</li>
<li>How are the markets divided into different product/service segments and the market size and growth of each segment?</li>
<li>What is the market potential of different product segments and their investment case?</li>
<li>How are the markets predicted to develop in the future and what factors will drive or inhibit growth?</li>
<li>What is the business environment and regulatory landscape specific to the product/service?</li>
</ul>
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Global Smart Pills Market Assessment, Opportunities and Forecast, 2017-2031F

Global smart pills market is anticipated to witness significant growth in the coming years due to growing preference for minimally invasive diagnostic procedures, increasing cases of colorectal cancer, and rising investments towards technological advancements in smart pills.

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