Austin, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Smart Pills Market Size & Growth Analysis:
“According to SNS Insider, the Smart Pills Market size was valued at USD 1.5 billion in 2023 and is expected to achieve a market size of USD 4.9 billion by 2032, growing at an impressive CAGR of 14.0% during the forecast period 2024-2032.”
The smart pills market is witnessing rapid growth due to the convergence of technological innovation and increasing healthcare needs. The integration of advanced micro-electronic systems into ingestible devices has enabled precision diagnostics and therapeutic monitoring. Governments and healthcare organizations worldwide are emphasizing non-invasive methods to enhance patient compliance and reduce procedure-related risks. For instance, a 2023 report by the U.S. Centers for Disease Control and Prevention (CDC) indicates that 70% of gastrointestinal conditions remain underdiagnosed, with diagnostic delays leading to annual healthcare costs exceeding $140 billion. The CDC emphasizes the role of smart pills in mitigating these delays through precise, non-invasive diagnostic capabilities.
Moreover, regulatory frameworks such as the European Medicines Agency’s (EMA) guidelines on digital therapeutics and the U.S. FDA’s approval of digital medicine products are encouraging manufacturers to develop advanced smart pill technologies. According to the U.S. Food and Drug Administration (FDA), over 80 digital health products, including ingestible sensors and smart pills, received clearance or approval between 2020 and 2023. This reflects a steady rise in regulatory confidence in these technologies, paving the way for widespread clinical application. Additionally, the FDA's Digital Health Innovation Plan prioritizes frameworks that support the scalability of smart pills. The European Medicines Agency (EMA) has observed a 25% annual increase in clinical trials incorporating smart pill technologies since 2020. Their regulatory frameworks, such as the 2022 guidelines on digital therapeutics, highlight the safety, efficacy, and integration of smart pills in managing chronic conditions like Crohn’s disease and colorectal cancer.
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The World Health Organization (WHO) projects that smart healthcare technologies, including smart pills, could reduce global healthcare costs by up to 20% by 2030, equating to savings of approximately $5 trillion annually. This cost reduction is attributed to improved diagnostic precision, reduced hospital admissions, and enhanced patient compliance. The growing demand for non-invasive diagnostic methods and the increasing prevalence of chronic diseases are compelling patients to opt for smart pill technologies, as they offer convenience and reliability. A survey conducted in 2023 by the American Medical Association revealed that 65% of gastroenterologists are incorporating smart pills into their diagnostic practices, citing improved patient outcomes and operational efficiency.
Major Players Analysis Listed in this Report are:
- Medtronic plc
- Olympus Corporation
- Capsovision Inc.
- Proteus Digital Health Inc.
- Check-Cap Ltd.
- IntroMedic Co. Ltd.
- PENTAX Medical
- AnX Robotica Corp.
- Bio-Images Research Ltd.
- Given Imaging
Smart Pills Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 1.5 billion |
| Market Size by 2032 | US$ 4.9 billion |
| CAGR | CAGR of 14.0% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segment Analysis
By application
Capsule endoscopy emerged as the largest segment in 2023, held a 53% revenue share in the smart pills market. Capsule endoscopy has gained traction as a preferred diagnostic method for gastrointestinal disorders due to its minimally invasive nature. The growing prevalence of gastrointestinal diseases, including Crohn’s disease and colorectal cancer, is propelling the demand for capsule endoscopy. According to the World Health Organization (WHO), colorectal cancer is the third most common cancer worldwide, with over 1.9 million new cases reported in 2023. Smart pills equipped with high-definition cameras and AI-powered data analysis are becoming instrumental in early disease detection and management.
By disease indication
Celiac disease accounted for the largest market share in 2023. Rising awareness about gluten intolerance and an increasing number of patients diagnosed with celiac disease are driving this segment. The National Institute of Health (NIH) reported that the prevalence of celiac disease has doubled over the past two decades, with 1 in 100 people worldwide affected. Smart pills designed for targeted drug delivery and real-time symptom monitoring are proving to be game-changers for managing this chronic condition.
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Smart Pills Market Key Segmentation:
By Application
- Capsule Endoscopy
- Drug Delivery
- Vital Sign Monitoring
By Disease Identification
- Occult GI Bleeding
- Crohn’s Disease
- Small Bowel Tumors
- Celiac Disease
- Inherited Polyposis Syndromes
- Neurological Disorders
- Others
By Target Area
- Esophagus
- Small Intestine
- Large Intestine
- Stomach
By End-use
- Hospitals
- Outpatient Facilities
Regional Analysis
North America dominated the market in 2023 and accounted for 38% revenue share. Factors such as robust healthcare infrastructure, high adoption of advanced medical technologies, and supportive government policies are fueling market growth. The U.S. National Institutes of Health (NIH) allocated over USD 500 million in 2023 for research and development in digital health technologies, further boosting the adoption of smart pills. Additionally, the increasing prevalence of chronic diseases and the aging population are creating a conducive environment for market expansion.
Asia-Pacific is emerging as the fastest-growing market for smart pills, driven by rapid advancements in healthcare infrastructure, rising disposable incomes, and government initiatives promoting digital health. According to the Asian Development Bank, the region’s healthcare spending is expected to increase by 40% by 2025. Countries like China and India are witnessing significant investments in telemedicine and digital healthcare platforms. For example, India’s Ayushman Bharat Digital Mission aims to create a digital health ecosystem, thereby accelerating the adoption of innovative solutions like smart pills.
Recent Developments
- In April 2024, Medtronic launched its next-generation smart pill with enhanced AI-driven imaging capabilities, offering superior diagnostic precision for gastrointestinal disorders. The device features extended battery life and improved data integration with healthcare management systems.
- In 2023, AnX Robotica Corp. introduced the NaviCam Small Bowel System in the U.S., featuring aspherical lens technology to enhance visual accuracy and support small bowel disease diagnosis.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Smart Pills Market Segmentation, by Application
8. Smart Pills Market Segmentation, by Disease Identification
9. Smart Pills Market Segmentation, by Target Area
10. Smart Pills Market Segmentation, by End-use
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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