Smart Pills Market Size, Share & Industry Analysis, By Application (Capsule Endoscopy, Targeted Drug Delivery, Vital Sign Monitoring), By End User (Hospital & Specialty Clinics, Diagnostic & Research Centers) and Regional Forecast, 2024-2032

Smart pills are referred to as a small digital devices that are shaped and designed in the form of capsules and perform highly advanced function such as sensing, imaging and drug delivery. These capsules can include biosensor, image, pH or chemical sensor and if swallowed, they travel along the gastrointestinal tract to capture images that are otherwise difficult to obtain. Smart pills also are equipped with a small wearable sensor patch, connected to an app on mobile device and a provider portal. These non-invasive devices have revolutionized the diagnosis of cancer, gastrointestinal disorders and can replace the conventional diagnostic techniques such as endoscopy.

Globally, increasing incidence of chronic diseases like colorectal, breast cancer, along with increase in prevalence of lifestyle-related disorders like gastrointestinal reflux diseases (GERD), gastric ulcers and others are some of the major factors anticipated to fuel the demand for advanced treatment options. Also, rising shift of patient preference towards minimally invasive procedures for treatment is expected to drive the growth of smart pills market during the forecast period. Certain benefits offered by smart pills like advanced capsule endoscopy, targeted drug delivery and easy remote patient monitoring are factors resulting in increasing adoption of smart pills in treatment of patients with gastrointestinal diseases or cancer. Moreover, market players are increasing their investment in R&D in order to introduce small pills that can be used in diagnosis and treatment of new disease condition. For instance, In November 2017, the U.S FDA approved Abilify MyCite, a aripiprazole tablets with an ingestible sensor from Otsuka Pharmaceuticals and Proteus Digital Health, in treatment of schizophrenia and other bipolar disorders.

However, high cost associated with smart pills along with inadequate reimbursement policies in emerging countries to offer full coverage to patients can restrict the growth of the smart pills market during 2020-2027 period. Also, technological incompetence of smart pills in some conditions and stringent government regulations regarding its usage are hampering the adoption of smart pills during the forecast period.

Key Market Driver -

Shift of patient preference towards minimally invasive procedures

Key Market Restraint -

High cost associated with smart pills and stringent government regulations regarding its use

Market Segmentation:

Globally, the smart pills market is segmented on basis of application, end user, and region. Based on the application, the market is segmented into capsule endoscopy, targeted drug delivery, and patient monitoring. Based on the end user, market is segmented into hospitals & specialty clinics, and diagnostic & research centers.

Geographically, the smart pills market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

Key Players Covered:

The major companies in the global smart pills market include Proteus Digital Health, Medtronic, CapsoVision, Inc., Olympus Corporation, Otsuka Pharmaceutical Co., Ltd., MEDISAFE and others.

Key Insights:

• Prevalence of Key Chronic Diseases, By Key Countries/ Region, 2019


• Pipeline Analysis, For Key Players


• New Product Launches, By Key Players


• Key Industry Developments- Mergers, Acquisition and Partnerships

Regional Analysis:

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Geographically, the smart pills market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market owing to higher incidence of cancer, higher adoption of advanced technology, and favorable reimbursement policies. For instance, according to the estimations of The American Cancer Society, every year around 43,340 new cases of colorectal cancer is being reported in the U.S. Thus, offers lucrative growth opportunities for market players operating in the U.S market. On other hand, Europe is anticipated to propel at a significant CAGR in the 2020-2027 period owing to the rising awareness about lifestyle related diseases among people coupled with high healthcare expenditure. The market of Asia Pacific is expected to register a higher CAGR by the end of 2027 owing to significant market growth in countries like Japan, China, and Australia. Latin America and Middle East Africa are anticipated to witness a moderate growth during the forecast period due to presence of inadequate reimbursement policies to offer full coverage to patients and developing healthcare infrastructure in these regions.

Segmentation

Smart Pills Industry Developments

• In January 2019, Proteus Digital Health launched its first digital cancer chemotherapy pill in the market with an aim to help oncologists track treatment effectiveness and adherence in the cancer patients.


• In October 2018, Proteus Digital Health expanded its partnership with Otsuka Pharmaceutical in order to continue the development and commercialization of its ingestible sensor pill platform.


• In September 2017, CapsoVision Inc., announced the U.S launch of CapsoCloud, a managing system that allowed physicians to extract data from the CapsoCam Plus smart pill eliminating the need to process capsules post-ingestion.