The Global "Smart Pills Market" is expected to grow at a high CAGR of 16.21% during the forecasting period ( 2021-2028).
Smart pills is a revolutionary technological innovation that reduced the gap between healthcare and digital technology. Smart Pills are used to monitor temperature, drug adherence and other parameters associated with the patient’s body.
The advanced technology in the smart pill allows health care professionals to monitor the patients’ health, disease diagnosis and helps in enhancing drug delivery.
These smart pills alert the users with information about the drug expiry date, medication course duration and prevent users from adverse events. In the coming years, they are going to replace with the conventional diagnostic techniques (endoscopy and colonoscopy).
Increase in geriatric population, technological advancements in the field of endoscopy and an increase in the prevalence of colon cancer and inflammatory bowel disease are driving the global smart pills market during the forecast period.
Increase in intake of wrong medication or forgetting to take pills are additionally contributing to the growth of the market as the new smart pill technology monitors the intake of drug and alerts them.
These smart pills provide an alternative for the traditional colonoscopies that are used to screen patients for the presence of colon cancer which is physically unpleasant, much too invasive and require diets and laxatives that leave patients feeling empty and exhausted.
According to the American Cancer Society in January 2019 estimated that more than 101,420 new colon cancer cases will be generated in the United States.
Major factors hindering the global smart pills market are a high cost associated with the technology and lack of awareness among the population regarding the product.
Global smart pills market is segmented by product type, target area, disease indication, and end users. Product type includes capsule endoscopy, drug delivery, and patient monitoring, and target area includes Esophagus, Stomach, Small intestine, Large intestine, and others.
Disease indication includes Digestive tract diseases, Esophageal diseases, Small bowel tumors, Colon diseases, and others, and end users include hospitals, diagnostic centers, ambulatory surgical centers, research institutes, and others.
Capsule endoscopy is a procedure that uses a tiny wireless camera to take pictures of your digestive tract.
Capsule endoscopy dominates the global smart pill market during the forecast period due to wide applications of this system, continuous technological advancements in endoscopy and demand for a faster and accurate tool for diagnosis of colorectal cancer.
The benefits provided by smart pills such a real-time visualization of the whole intestine, faster and easier diagnosis led the physicians and patients to incline towards capsule endoscopy.
The global smart pills market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
North America dominates the global smart pills market due to increase in patient preference towards minimally invasive procedures, the wide availability of products across the region due to high adoption rate among the consumers, increase in government investments in healthcare and it is expected to remain high during the forecast period.
The large patient population and increase in research initiatives on the smart pill by research organizations are additionally contributing to the growth of the smart pill market in North America.
In September 2017, Researchers at Caltech have developed a prototype miniature medical device that could ultimately be used in “smart pills” to diagnose and treat diseases.
Recent product launches, strategic collaborations by the key players for clinical trials and R&D of their new product lines are driving the global smart pills market during the forecast period.
In December 2017, Shire and Rani Therapeutics collaborated for clinical trails of Rani Pill technology for oral delivery of factor therapy.
In January 2019, Proteus Digital Health launched Digital Oncology medicines to improve patient outcomes.
In October 2018, Otsuka and Proteus Digital Health announced strategic collaboration for the development of advanced digital medicines for mental health.
In November 2017, Otsuka and Proteus received U.S FDA approval for digital medicine system Abilify MyCite.
Major market players in the smart pills market are Proteus Digital Health, HQ, In Capsovision, Inc, Medtronic PLC, Olympus Corporations, Intromedic Co., Ltd, Jinshan Science & Technology, Check-Cap, Rani Therapeutics, Medisafe, and Others.
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Industry Investors/Investment Bankers
1.1. Research Methodology
1.2. The Scope of the market
3.5. Supply Chain Analysis
3.6. Reimbursement policies
3.7. Technological Advancements
3.8. Porter’s Five Forces Analysis
4.1. By Product Type
4.1.1. Capsule endoscopy
4.1.2. Drug delivery
4.1.3. Patient Monitoring
4.2. By Target Area
4.2.3. Small intestine
4.2.4. Large intestine
4.3. By Disease Indication
4.3.1. Digestive Tract Diseases
4.3.2. Esophageal Diseases
4.3.3. Small Bowel tumors
4.3.4. Colon Diseases
4.4. By End Users
4.4.2. Diagnostic centers
4.4.3. Ambulatory surgical centers
4.4.4. Research Institutes
5.1. Geographic Overview
5.2. North America
5.2.1. The U.S.
5.3.2. The U.K.
5.3.6. Rest of Europe
5.4. South America
5.4.3. Rest of South America
5.5. Asia Pacific
5.5.5. Rest of Asia Pacific
5.6. Rest of World
6.1. Competitive Scenario
6.2. Heat Map Analysis
6.3. Product Benchmarking
7.1. Proteus Digital Health, HQ, Inc
7.2. Capsovision, Inc
7.3. Medtronic PLC
7.4. Olympus Corporations
7.5. Intromedic Co., Ltd
7.6. Jinshan Science & Technology
7.8. Rani Therapeutics
10.2. List of Tables
10.3. Expert Panel Validation
10.5. Contact Us
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