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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