Smart Pills Market is estimated to be US$ 2068.48 million by 2032 with a CAGR of 15.4% during the forecast period 2032

 

Smart Pills Market accounted for US$ 497.2 million in 2022 and is estimated to be US$ 2068.48 million by 2032 and is anticipated to register a CAGR of 15.4%. In January 2019, first digital pill was launched which has a chip in capsules containing capecitabine. Smart pills are essential ingestible sensors which are swallowed and can able to record various physiological measures. Adderall and Ritalin are smart drugs which has strongest and most significant effects on attention and memory. Smart pills are digital pills prescribed to patients equipped with edible electronic sensors that helps in sending messages to devices like smartphones, tablets or patches outside the body after they are ingested. Smart pills capsule are 26mm x 13mm and slightly larger than multivitamin. Smart pills are made up of copper, silicon and magnesium. Smart pills contains nano-sized data receptors which can extract chemical and visual details before transmitting to external devices for analyzing collected data. Smart pills are also referred as nano level electronic devices which are shaped and designed like pharmaceutical pills. Smart pills uses nanotechnology for improving drug delivery to every part of body including gastrointestinal tract. Smart dispenser is an automatic medication that helps in organizing, scheduling, and delivering patient medication with touch of a button. Nootropics or smart drugs are group of compounds called as cognitive enhancers. Smart pills has revolutionized diagnosis of gastrointestinal disorders by replacing endoscopy technique. Smart pill or wireless capsule endoscopy is can easily swallowed and maneuvered for capturing images and require minimal sedation. This wireless capsule endoscopy helps in measuring gases and fluids in gut which provides multidimensional picture of human body for physicians. Smart pill called ‘CorTemp Ingestible Core Body Temperature Sensor’ helps in transmitting real-time body temperature. These type of smart pill is used by soldiers, firefighters, astronauts and football players to ensure not to overheat at high temperatures. Biosensor equipped smart pills sense the appropriate location and environmental condition to release pharmacological agents. IntelliCap pill with pH and temperature sensors, drug reservoir helps in releasing drugs to defined region of gastrointestinal tract. However, its painless, simple procedure and applications in treating chronic diseases has fueled the Smart pills market growth.

The report “Smart Pills Market, By Target Area (Small Intestine, Large intestine, Stomach, and Esophagus), By Application (Drug Delivery, Capsule Endoscopy and Others), By End-Users (Hospitals, Diagnostic Centers, Specialty Clinics and Research Institutes) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”

Key Highlights:

·         In January 2022, Novo Nordisk has announced launch of new anti-diabetes pill semaglutide in India which can be used for treatment of type 2 diabetes. Semaglutide is a glucagon-like peptide (GLP-1) receptor analogue molecule which has become promising addition to diabetes treatment.

·         In February 2020, Denver Startup has developed smart pill for wireless drug delivery. This newly launched smart pill is wireless powered smart capsule which helps in delivering medications to targeted areas in the body.

Analyst View:

Smart pill innovative is growing around the world due to technological advancement. Increase in prevalence of chronic disease due to unhealthy lifestyle, processed food, lack of physical activity, has given rise in smart pill market growth for diagnosing and treating disease. Demand for minimally invasive surgery due to its simple and painless procedure has fueled the market growth. Smart pills are expected to become an integral component in telemedicine and remote patient monitoring. Use of smart pills for medication compliance and monitoring vital signs is expected to increase and provide boosts growth in Smart pills market. However, involvement of staff retraining who administer smart pills and interpret data is needed to be speed on applications and technology, extensive patients education is highly recommended to understand smart pills medication, its interactions properly and report any adverse reactions quickly which will be highly beneficial for target market growth. As a result, market competition is intensifying, and both big international corporations and start-ups are vying to establish position in the market.

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Key Market Insights from the report:

Smart Pills Market accounted for US$ 497.2 million in 2022 and is estimated to be US$ 2068.48 million by 2032 and is anticipated to register a CAGR of 15.4%. The Smart Pills Market is segmented based on Target Area, Application, End-Users and Region.

·         Based on Target Area, Smart Pills Market is segmented into Small Intestine, Large intestine, Stomach, and Esophagus.

·         Based on Application, Smart Pills Market is segmented into Drug Delivery, Capsule Endoscopy and others.

·         Based on End-Users, Smart Pills Market is segmented into Hospitals, Diagnostic Centers, Specialty Clinics and Research Institutes.

·         By Region, the Smart Pills Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

Competitive Landscape & their strategies of Smart Pills Market:

The prominent players operating in the Global Smart Pills  Market includes, Medtronic, Olympus Corporation, MEDISAFE, HealthBeacon Plc., Otsuka Pharmaceutical Co. Ltd., Boston Scientific Corporation, CapsoVision Inc., Check Cap, JINSHAN Science and Technology, Novartis AG, Bio-Images Drug Delivery (BDD) Limited, and others.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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