FutureWiseResearch: Global Market Research Reports, USA, UK

Overview

Smart Pills Market Overview:

According to FutureWise analysis the market for smart pills in 2023 is US$ 0.6 billion, and is expected to reach US$ 1.49 billion by 2031 at a CAGR of 12.00%.

Ingestible medicinal gadgets called "smart pills" contain components, including sensors, cameras, patches, and trackers that aid in better monitoring and diagnosis. These unusual tools are simple to swallow and provide a non-invasive, complete inspection of the GI tract and many other body areas. Smart pills are employed for improved diagnosis, treatment, and drug delivery with greater precision. The majority of smart pills come in the shape of vitamin-sized capsule-shaped pills. The sensors in a smart pill are activated when it is ingested, and the data they provide about a patient's health parameters and the efficacy of drug treatment help healthcare providers make better judgments and design more successful medicines.

Research on smart pills is becoming more popular as there is an increasing need and demand for appropriate minimally invasive devices that provide precise treatment options. The use of smart pills has completely changed the field of gastrointestinal diagnostics. As they are non-invasive, they can be a viable alternative to invasive procedures like gastrointestinal endoscopy and colonoscopy. The rise in the number of older individuals with chronic illnesses like cardiovascular, cancer and the prevalence of lifestyle-related illnesses like gastroesophageal reflux disease (GERD), obesity, gastric ulcers, and others will all contribute significantly to the demand in the market for smart pills. Additional R&D efforts in creating modern medical devices like smart pills also contribute to the market's expansion.

FutureWise Market Research has published a report that provides an insightful analysis of smart pills market trends that are affecting the overall market growth. This report will provide a detailed analysis of market share, regional insights, and competitor analysis that includes stature of key manufacturers operational in this industry. According to the analysis conducted by FutureWise research analysts, the smart pills market is estimated to register a considerable growth rate over the forecast period. This report lists the market segments and potential prospects available across this industry, in addition providing crucial information on the total valuation currently held by the industry. Moreover, this report will assist key management individuals in an organisation to enhance their decisions pertaining to business expansion as well as strategic changes for increasing customer base.

Major players included in the Smart Pills Market:

Proteus Digital Health
HQ, Inc.
CapsoVision, Inc.
Medtronic Plc.
Olympus Corporations
IntroMedic Co., Ltd.
RF Co., Ltd.
JINSHAN Science & Technology
Check-Cap
Koninklijke Philips N.V.
GE Healthcare
NOVARTIS AG
Fujifilm Holdings Corporation
Bio-Images Drug Delivery (BDD) Limited
Quotient Clinical Ltd.
Innovative Devices LLC.
PENTAX Medical

(Note: The list of the major players will be updated with the latest market scenario and trends)

Recent developments by key players in Smart Pills Market:

In January 2022- Semaglutide, a medication used to treat type 2 diabetes, was introduced by Novo Nordisk in India. Semaglutide is a glucagon-like peptide (GLP-1) receptor analog chemical that has shown potential in the treatment of diabetes.

Smart pills have changed how gastrointestinal disorders are diagnosed and could eventually replace more established diagnostic techniques like endoscopy. An endoscopy probe is typically inserted into the patient's oesophagus before moving on to the upper and lower gastrointestinal systems for diagnostic purposes. The patient will have discomfort during and after the course of action, and there is a risk of oesophageal lining perforation or tears. But with minimal patient preparation, such as sedation, a smart pill or wireless capsule endoscopy (WCE) can be easily swallowed and maneuvered to gather images. The built-in sensors detect all of the stomach's liquids and gases, giving the doctor a three-dimensional view of the patient's body. The built-in sensors detect all of the stomach's liquids and gases, giving the doctor a three-dimensional view of the patient's body. Additionally, the prevalence of chronic diseases is sharply rising globally, and the rising patient population is straining the healthcare system. Smart pills provide patients and doctors more control over their vitals without forcing them to physically visit hospitals or clinics, which is expected to fuel market expansion. Moreover, the development of smart pills has significantly emphasized the miniaturization of electrical components. With the incorporation of cloud computing and wireless communication platforms into the healthcare industry, smart pills are being used more frequently to monitor vital signs and prescription compliance. Smart pills are expected to play a significant role in the long run-in telemedicine and remote patient monitoring. Smart pills will be widely employed as the demand for non-invasive point-of-care diagnostics increases. A contributing feature to the growth of the global market may be the rising investments made by product manufacturers, not only in the production of smart pills but also in the software and back-end services that support a smooth flow of activities. However, the market's growth may be constrained by the high expense of smart pills associated with technological advancement. The high cost of producing smart pills results from using sophisticated technologies, including microchip integration, software upgrades, and new processes. Therefore, it is concluded that the high price of smart pill production will further impede market expansion.

Smart Pills Market Segmentation:

By Application

Capsule Endoscopy
Drug Delivery
Patient Monitoring

By Target Area

Esophagus
Small Intestine
Large Intestine
Stomach

By Disease Indication

Esophageal Diseases
Small Bowel Diseases
Colon Diseases
Others

By End User

Hospital
Diagnostic Center
Research Institute

By Region

North America
Europe
Asia-Pacific
Latin America
Middle East and Africa

This market research report also emphasis on factors affecting the growth rate in various regions listed above. A deep-down analysis of region will also be provided in the final version of this market which is based on conclusion of primary interviews and secondary data point gathered during the process.

By region, the market is segmented into North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. North America registered highest share in the market in 2022 due to factors including the widespread acceptance of innovative technological advances to make patient care hassle-free, a sizable client base, and a fast-expanding senior population. Human involvement in the dispensing of specialty medications contributes to an increase in prescription errors. Therefore, the market for smart pills is anticipated to increase as the United States focuses on providing patients with value-based treatment. For instance, according to a National Library of Medicine study from July 2022, 7,000 to 9,000 people will perish annually in the United States alone due to medication errors. As a result, according to the figures, the demand for smart pill products to prevent prescription errors has increased nationwide.

Competitive Landscape:

Tier 1 players- established companies in the market with a major market share
Tier 2 players
Emerging players which are growing rapidly
New Entrants

FutureWise Key Takeaways:

Growth prospects
SWOT analysis
Key trends
Key data-points affecting market growth

Objectives of the Study:

To provide with an exhaustive analysis on the Smart Pills Market By Application, By Target Area, By Disease Indication, By End-user and By Region.
To cater comprehensive insights on factors such as drivers, restraints, trends, opportunity, and additionally segmental and regional factors impacting market growth.
To evaluate current market trends and forecast micro-markets and the overall market projections which are represented in the format of data-sets and ppt.
To predict the market size, in key regions— North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
To provide information on competitors which includes landscape mapping, technological advancements, R&D spending, news concerning strategic alliances, and new product launches.

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1. Market Introduction
- 1. Objectives of the Study
  2. Market Definition
  3. Market Scope
  3.1. Years Considered for the Study
  3.2. Market Covered
  4. Currency
  5. Limitations
  6. Stakeholders
2. Research Methodology
- 1. Research Data
  1.1. Secondary Data
  1.1.1. Key Data from Secondary Sources
  1.2. Primary Data
  1.2.1. Key Data from Primary Sources
  2. Market Size Estimation
  3. Market Breakdown and Data Triangulation
  4. Assumptions for the Study
3. Executive Summary
- 1. Market Outlook
  2. Segment Outlook
  3. Competitive Insights
4. Smart Pills Market Variables, Trends and Scope
- 1. Market Lineage Outlook
  2. Penetration and Growth Prospect Mapping
  3. Industry Value Chain Analysis
  4. Cost Analysis Breakdown
  5. Technology Overview
  6. Regulatory Framework
  6.1. Reimbursement Framework
  6.2. Standards and Compliances
5. Market Overview
- 1. Market Dynamics
  1.1. Market Driver Analysis
  1.1.1. Increasing focus of Smart Pills Market Companies on Brand Protection
  1.1.2. Untapped Opportunities in Emerging Regions
  1.2. Market Restraint Analysis
  1.2.1. High Cost Associated with Implementation of Predictive Analysis
  1.3. Industry Challenges
  1.3.1. Presence of Ambiguous Regulatory Framework
6. Smart Pills Market Analysis Tools
- 1. Industry Analysis - Porter’s
  1.1. Supplier Power
  1.2. Buyer Power
  1.3. Substitution Threat
  1.4. Threat from New Entrants
  1.5. Competitive Rivalry
  2. Pestel Analysis
  2.1. Political Landscape
  2.2. Environmental Landscape
  2.3. Social Landscape
  2.4. Technology Landscape
  2.5. Legal Landscape
  3. Major Deals And Strategic Alliances Analysis
  3.1. Joint Ventures
  3.2. Mergers and Acquisitions
  3.3. Licensing and Partnership
  3.4. Technology Collaborations
  3.5. Strategic Divestments
  4. Market Entry Strategies
  5. Case Studies
7. Smart Pills Market, By Application Historical Analysis and Forecast 2023-2031 (USD Million)
- 1. Capsule Endoscopy
  2. Drug Delivery
  3. Patient Monitoring
8. Smart Pills Market, By Target Area Historical Analysis and Forecast 2023-2031 (USD Million)
- 1. Esophagus
  2. Small Intestine
  3. Large Intestine
  4. Stomach
9. Smart Pills Market, By Disease Indication Historical Analysis and Forecast 2023-2031 (USD Million)
- 1. Esophageal Diseases
  2. Small Bowel Diseases
  3. Colon Diseases
  4. Others
10. Smart Pills Market, By End User Historical Analysis and Forecast 2023-2031 (USD Million)
- 1. Hospital
  2. Diagnostic Center
  3. Research Institute
11. North America Smart Pills Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
- 1. Introduction
  2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
  2.1. U.S.A
  2.2. Canada
  2.3. Mexico
  3. Market Size (USD Million) Forecast for North America 2023-2031
12. Latin America Smart Pills Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
- 1. Introduction
  2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
  2.1. Brazil
  2.2. Venezuela
  2.3. Argentina
  2.4. Rest of Latin America
  3. Market Size (USD Million) Forecast for Latin America 2023-2031
13. Europe Smart Pills Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
- 1. Introduction
  2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
  2.1. Germany
  2.2. U.K
  2.3. France
  2.4. Italy
  2.5. Spain
  2.6. Russia
  2.7. Poland
  2.8. Rest of Europe
  3. Market Size (USD Million) Forecast for Europe 2023-2031
14. Asia Pacific Smart Pills Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
- 1. Introduction
  2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
  2.1. Japan
  2.2. China
  2.3. India
  2.4. Australia and New Zealand
  2.5. ASEAN
  2.6. Rest of Asia Pacific
  3. Market Size (USD Million) Forecast for Asia Pacific 2023-2031
15. Middle East and Africa Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
- 1. Introduction
  2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
  2.1. GCC
  2.2. Israel
  2.3. South Africa
  2.4. Rest of MEA
  3. Market Size (USD Million) Forecast for MEA 2023-2031
16. Market Share Analysis and Competitive Landscape
- 1. Global Landscape - Key Players, Revenue and Presence
  2. Global Share Analysis - Key Players (Tier 1, Tier 2, Tier 3)
  3. Global Emerging Companies
  4. North America - Market Share Analysis and Key Regional Players
  5. Europe - Market Share Analysis and Key Regional Players
  6. Asia Pacific - Market Share Analysis and Key Regional Players
  7. Global Key Player - Growth Matrix
17. Company Profiles (Competition Dashboard, Competitors Deep Dive, Products Offered and Financial Layouts)
- 1. Proteus Digital Health
  1.1. Company Overview
  1.2. Product Portfolio
  1.3. SWOT Analysis
  1.4. Financial Overview
  1.5. Strategic Overview
  2. HQ, Inc.
  2.1. Company Overview
  2.2. Product Portfolio
  2.3. SWOT Analysis
  2.4. Financial Overview
  2.5. Strategic Overview
  3. CapsoVision, Inc.
  3.1. Company Overview
  3.2. Product Portfolio
  3.3. SWOT Analysis
  3.4. Financial Overview
  3.5. Strategic Overview
  4. Medtronic Plc.
  4.1. Company Overview
  4.2. Product Portfolio
  4.3. SWOT Analysis
  4.4. Financial Overview
  4.5. Strategic Overview
  5. Olympus Corporations
  5.1. Company Overview
  5.2. Product Portfolio
  5.3. SWOT Analysis
  5.4. Financial Overview
  5.5. Strategic Overview
  6. IntroMedic Co., Ltd.
  6.1. Company Overview
  6.2. Product Portfolio
  6.3. SWOT Analysis
  6.4. Financial Overview
  6.5. Strategic Overview
  7. RF Co., Ltd.
  7.1. Company Overview
  7.2. Product Portfolio
  7.3. SWOT Analysis
  7.4. Financial Overview
  7.5. Strategic Overview
  8. JINSHAN Science & Technolog
  8.1. Company Overview
  8.2. Product Portfolio
  8.3. SWOT Analysis
  8.4. Financial Overview
  8.5. Strategic Overview
  9. Check-Cap
  9.1. Company Overview
  9.2. Product Portfolio
  9.3. SWOT Analysis
  9.4. Financial Overview
  9.5. Strategic Overview
  10.Koninklijke Philips N.V.
  10.1. Company Overview
  10.2. Product Portfolio
  10.3. SWOT Analysis
  10.4. Financial Overview
  10.5. Strategic Overview
  11.GE Healthcare
  11.1. Company Overview
  11.2. Product Portfolio
  11.3. SWOT Analysis
  11.4. Financial Overview
  11.5. Strategic Overview
  12.NOVARTIS AG
  12.1. Company Overview
  12.2. Product Portfolio
  12.3. SWOT Analysis
  12.4. Financial Overview
  12.5. Strategic Overview
  13.Fujifilm Holdings Corporation
  13.1. Company Overview
  13.2. Product Portfolio
  13.3. SWOT Analysis
  13.4. Financial Overview
  13.5. Strategic Overview
  14.Bio-Images Drug Delivery (BDD) Limited
  14.1. Company Overview
  14.2. Product Portfolio
  14.3. SWOT Analysis
  14.4. Financial Overview
  14.5. Strategic Overview
  15.Quotient Clinical Ltd.
  15.1. Company Overview
  15.2. Product Portfolio
  15.3. SWOT Analysis
  15.4. Financial Overview
  15.5. Strategic Overview
  16.Innovative Devices LLC.
  16.1. Company Overview
  16.2. Product Portfolio
  16.3. SWOT Analysis
  16.4. Financial Overview
  16.5. Strategic Overview
  17.PENTAX Medical
  17.1. Company Overview
  17.2. Product Portfolio
  17.3. SWOT Analysis
  17.4. Financial Overview
  17.5. Strategic Overview
18. Pre and Post COVID-19 Impact
- 1. Positive influence on the healthcare industry
  2. The financial disruption of the manufacturing sector
  3. Impact of COVID-19 on emerging companies
  4. Significant mandates in the healthcare regulations initiated by administrations
  5. The overall economic slowdown of the developing and developed nations
19. FutureWise SME Key Takeaway Points for Client

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