Global Smart Pills Market to Reach US$ 8.5 Billion by 2032, Catalyzed by Escalating Demand for Minimally Invasive (MI) Procedures

April 06, 2022 | Healthcare

IMARC Group’s latest report, titled “Smart Pills Market Report by Target Area (Esophagus, Small Intestine, Large Intestine, Stomach), Disease Indication (Esophageal Diseases, Small Bowel Diseases, Colon Diseases, and Others), Application (Capsule Endoscopy, Drug Delivery, Patient Monitoring), End User (Hospitals, Diagnostic Centers, Research Institutes), and Region 2024-2032,” finds that the global smart pills market size reached US$ 4.6 Billion in 2023. Smart pills, also known as digital pills, refer to ingestible, miniaturized electronic devices designed in the shape of pharmaceutical capsules. They consist of sensors, trackers, cameras, and patches that assist in recording various physiological measures accurately. Once swallowed, these pills move along the gastrointestinal (GI) tract to send vital information that is otherwise difficult to obtain and then gets eliminated from the system easily. They offer a thorough examination of the GI tract and other body parts and perform highly advanced functions, including sensing, imaging, and drug delivery. As a result, smart pills have gained immense traction in the healthcare industry to aid in better diagnostics, therapeutics, and monitoring while eliminating the need for invasive procedures.

Global Smart Pills Market Trends:

The escalating demand for minimally invasive (MI) procedures and the surging prevalence of chronic diseases, such as gastrointestinal (GI) disorders, colon cancer, and inflammatory bowel disease (IBD), represent the primary factors driving the market growth. In addition, smart pills are rapidly replacing several traditional techniques, including endoscopy and colonoscopy, for GI diagnosis due to their enhanced patient comfort and ability to offer accurate, multidimensional images of numerous internal body parts. Apart from this, the growing inclination toward telemedicine technologies for remote patient visits due to the recent coronavirus disease (COVID-19) outbreak has augmented the demand for smart pills. Furthermore, the leading manufacturers are launching innovative product variants with improved batteries and onboard memory to assist in telemedicine and remote patient monitoring, provide real-time, wireless information, and measure the effects of medications. Besides this, the increasing investments in research and development (R&D) projects focusing on effective localization, steering, and control of pills are offering lucrative opportunities to the market players. Other factors, including the expanding pediatric and geriatric population, rising approvals of new pills, surging demand for advanced drug delivery systems, and technological advancements, are also providing a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach US$ 8.5 Billion by 2032, growing at a CAGR of 6.9% during the forecast period (2024-2032).

Market Summary:

Based on the target area, the market has been categorized into esophagus, small intestine, large intestine, and stomach.
The market has been divided based on the disease indication into esophageal diseases, small bowel diseases, colon diseases, and others.
On the basis of the application, the market has been classified into capsule endoscopy, drug delivery, and patient monitoring.
Based on the end user, the market has been segregated into hospitals, diagnostic centers, and research institutes.
Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has also been examined, with some of the key players being CapsoVision Inc., Check-Cap Ltd., General Electric Company, IntroMedic Co. Ltd., Jinshan Science & Technology (Group) Co. Ltd., Koninklijke Philips N.V., Medtronic plc, Olympus Corporation, and PENTAX Medical (Hoya Corporation).

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Target Area, Disease Indication, Application, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	CapsoVision Inc., Check-Cap Ltd., General Electric Company, IntroMedic Co. Ltd., Jinshan Science & Technology (Group) Co. Ltd., Koninklijke Philips N.V., Medtronic plc, Olympus Corporation and PENTAX Medical (Hoya Corporation)
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
30 N Gould St Ste R
Sheridan, WY 82801 USA - Wyoming
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

Global Smart Pills Market to Reach US$ 8.5 Billion by 2032, Catalyzed by Escalating Demand for Minimally Invasive (MI) Procedures

Purchase options

Single User License ~~$3899~~ $2999
Five User License ~~$4899~~ $3999
Corporate User License ~~$5899~~ $4999

Inquire Before Buying

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Speak to an Analyst

Request Brochure

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.