Smart Pill Market, By Application (Product (Capsule Endoscopy, Drug Delivery, and Others), Tools, and Patient Monitoring), Operation (Imaging and Monitoring), End User (Hospitals & Ambulatory Surgery Centers, Independent Clinics, and Others), and By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and the Rest of the World) – Market Size & Forecasting (2016-2028)

The global smart pill market size was valued at USD 1.12 Billion in 2018 and is anticipated to grow at a CAGR of 16.8% during the forecast period. A smart pill is one of the emerging technologies within the health care industry. The smart pill contains a drug and an ingestible sensor. These ingestible sensors are getting in operation for the use of imaging and monitoring when it comes into contact with stomach fluid. The sensor transfers anatomical data of the target to the patch which is worn by the patient. The information is often sent to physicians or caregivers with the consent of the patient. Through the assistance of data sent by the sensor, the patient is often remembered the time of drugs taken.

Smart Pill Market Stats

Smart Pill Market Statistics

According to National Diabetics Report in 2015, there are more than 1.5 million cases of diabetics are registered and almost USD 250 billion are spent on the treatment and diagnosis process. This increases the demand for smart pills in the market. Furthermore, the direct involvement of the government in order to develop technologies in the healthcare industry is further expected to create opportunities in the global market during the forecast period. However, the limited standardization of smart pills and the high cost for smart pills are the key restraining factors in the global market during the forecast period.

Key Factors Impacting the Growth of Smart pill Market:

  • Increase in the geriatric population in the global market.
  • Raise in demand for on-site diagnostics.
  • Growth in research and development to use smart pills for cancer treatment.

Smart Pill Market Segments

Smart Pill Market By Segmentation (2016-2028)

The smart pill market segmentation is based on application, operation, end user, and region.

Application Outlook:

Based on the application, the market has been segmented into products, tools, and patient monitoring. The product segment is further bifurcated into capsule endoscopy, drug delivery, and others. The product segment is estimated to dominate the smart pill market in 2018 and further expected to lead the market during the forecast period.

Operation Outlook

Based on operation, the market is segmented into imaging and monitoring. The imaging segment is expected to dominate the market in 2018 due to the increasing geriatric population and rise patients of serious diseases such as cancer.

End User Outlook:

Based on end user, the market is segmented into hospitals & ambulatory surgery centers, independent clinics, and others. The hospitals & ambulatory surgery centers segment is expected to lead the market in 2018 owing to increase investment from the pharmaceutical and government authorities.

Smart Pill Market Region

Smart Pill Market By Regional Analysis (2017-2028)

Regional Outlook:

Based on the region, the global smart pill market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. In 2018, North America is expected to account for the highest market share in the global smart pill market and further estimated to increase its share in the market over the forecast period. The growth of the region is primarily driven due to rapid growth in the geriatric population and an increase in disease complexities along with the developed health care infrastructure supported by government subsidiaries and the presence of key leading manufacturing companies. Moreover, Asia-Pacific is expected to hold the highest growth rate in the market during the forecast period owing to the growth in the population base, wide presence of local manufacturers in China, India, and Japan. Also, the rise in disposable income of people and technological advancement in the healthcare industry are further enhancing the growth of the smart pill in the region in the future.

Competitive Landscape

The smart pill market is highly stagnant, owing to the presence of key leading healthcare companies. The main manufacturing companies operating in the market are primarily focused on research and development in order to follow new product development strategies and further raise its investment in terms of value and infrastructure for the activities that in turn is expected to drive the market growth in the coming years. The key leading players in the global smart pill market include Proteus Digital Health, Novartis AG, Medtronic, Inc., Boston scientific, Smart Pill, Inc., IntroMedic Co. Ltd., Bio-Images Research Limited, JINSHAN Science and Technology, and CapsoVision, Inc. among others.

This report also includes the profiles of key smart pill market companies along with their SWOT analysis and market strategies. In addition, these competitive landscapes provide a detailed description of each company including future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launch, new product developments, and other latest industrial developments.

Key Developments in Smart Pill Market:

  • In September, 2019, eLucid mHealth, a leading healthcare technology company, granted a pair of US patents for its Pill Connect, a smart device. The device is used to cure and monitor the issues of non-adherence to medicines.
  • Proteus, a digital medicine company launched smart pills embedded with sensors and collaborate with the doctors, as a reminder for the pills. Also, it used to track activity levels. The company is planning to expand research and development for smart pills in cancer application.
  • In December 2018, Stride Nutrition, a subsidiary of Pillsy, combined the adherence technology with various mail-order nutritional products to launch launches supplement subscription service of smart pills.

Smart Pill Market

Smart Pill Market Timeline (2017-2028)

What Does This Report Provide?

This report provides a detailed understanding of the global smart pill market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.

Market Segmentation:

By Application

  • Product
    • Capsule Endoscopy
    • Drug Delivery
    • Others
  • Tools
  • Patient Monitoring

By Operation

  • Imaging
  • Monitoring

By End User

  • Hospitals and Ambulatory Surgery Centers
  • Independent Clinics
  • Others

By Region:

North America

  • By Country (US, Canada, Mexico)
  • By Application
  • By Operation
  • By End User

Western Europe

  • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
  • By Application
  • By Operation
  • By End User

Eastern Europe

  • By Country (Russia, Turkey, Rest of Eastern Europe)
  • By Application
  • By Operation
  • By End User

Asia Pacific

  • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
  • By Application
  • By Operation
  • By End User

Middle East

  • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
  • By Application
  • By Operation
  • By End User

Rest of the World

  • By Region (South America, Africa)
  • By Application
  • By Operation
  • By End User

Reasons to Buy This Report:

  • Market size estimation of the smart pill market on a regional and global basis
  • Unique research usage for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

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