Smart Pills Market: Summary
The Global Smart Pills Market is projected to reach a value of USD 3,481.05 million by 2027 at a CAGR of 16.3%.
The smart pill is refers to a medical device with a small embedded electronic product in it, such as a camera, sensors, or trackers. They are mostly present in the form of a vitamin capsule sized pill and possess small wearable sensor patch. Whereas, once swallowed it will gets activated in the gut the sensors which helps to provide information about patient’s health parameters as well as the effectiveness of medication treatment leading to more informed healthcare decisions. Global smart pills market is rising with the rising preference for minimally-invasive devices. However, the rising cost with the technological growth are expected to hinder the growth of the market.
Smart Pills Market: Market Dynamics
- Increasing Geriatric Population
- There has been increasing geriatric population is play a significant role for the smart pills market. With the rising geriatric population is projected to boost the demand for the advance medical devices to grow the convenience of the patients.
- The World Health Organization (WHO) has been projected that by 2050 world’s geriatric population count will be reach around 2 Billion, hence these will also lead to contribute the growth of this market
- As per the United Nations, Department of Economic and Social Affairs, in 2019 there were 703 million people aged 65 years or over in the world. Whereas, the number of older persons is being estimated to be double to 1.5 billion in 2050
- For example, the elderly population is being majorly prone to gastrointestinal disorders. The capsule endoscopy plays an integral role in early diagnosis as well as the proper treatment of these disorders, along with hybrid imaging technologies and new component innovations
- Furthermore, considering the steady rise in geriatric population throughout the world, the demand for advanced medical devices will also grow as they lead to offer a degree of convenience to patients.
- Growth in Technological Advancements
- Rising in R&D Investments
Smart Pills Market: Key Segments
- The smart pills market is majorly segments into disease indication, application and end-user.
- On the basis of disease indication, the market is sub segmented into occult GI bleeding, inherited polyposis syndromes, neurological disorders, small bowel tumors, celiac disease and other.
- On the basis of application, the market is bifurcated into capsule endoscopy, patient monitoring and drug delivery. The capsule endoscopy is excepted to hold the largest share in the forecast period. As these smart pills is being used to treat the related disease in the GI tract, such as Crohn’s disease, obscure GI bleed, and celiac disease.
- On the basis of end-user, the market is sub segmented into hospital, diagnostic center and research institute.
Smart Pills Market: Key Regions
On the basis of region, the market is divided into Americas, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Americas accounted for the major market share with the growing technological advancements in the healthcare sector as well as the growing investments by government. However, Asia-Pacific is projected grow at the fastest growth rate, with the factors such as the presence of small companies in China and Japan, technological growth as well as the rising trend of research in academic organizations in the region.
Smart Pills Market: Report Scope
The report on the smart pills market covers a deep dive analysis of historic, recent and current market trends. furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
2020-2027 (2020 estimated year, forecast up to 2027)
Value (USD Million)
Disease Indication, Application and End-User
Americas, Asia-Pacific, Europe, Middle East & Africa
Key Companies Covered
- Boston Scientific Corporation (Company Overview, Financial Overview, Product Synopsis, Key Developments, SWOT Analysis, & Key Strategy)
- CapsoVision, Inc.
- Cerner Corporation
- Fujifilm Holdings Corporation
- Novartis AG
- Olympus Corp
- PENTAX Medical
- Pixie Scientific, LLC
- Proteus Digital Health, Inc
- Other Key Companies
Smart Pills Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Smart Pills Market, by Disease Indication
- Occult GI Bleeding
- Inherited Polyposis Syndromes
- Neurological Disorders
- Small Bowel Tumors
- Celiac Disease
Smart Pills Market, by Application
- Capsule Endoscopy
- Patient Monitoring
- Drug Delivery
Smart Pills Market, by End-User
- Diagnostic Center
- Research Institute
Smart Pills Market, by Region
- North America
- Latin America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Smart Pills Market Providers
- Smart Pills Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Smart Pills Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE SMART PILLS MARKET STUDY