The Smart pills Market report also offers insightful and detailed information regarding the various key players operating in the smart pills market, and their financials, apart from strategies, acquisitions & mergers, and market footprint.
Smartpills Market Overview:
“The Smartpills Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.
A smart pill is an ingestible capsule that contains drugs and a sensor to measure pressure, Ph, and temperature as it travels through the gastrointestinal (GI) tract to assess GI motility. A smart pill motility monitoring test is performed at a clinic or hospital to evaluate motility disorders.
It is applicable for measuring gastric emptying time, small bowel transit time, colonic transit time, combined small and large bowel transit time, whole gut transit time, abdominal pain, and checking for chronic disorders.
Smart pill minimizes patient downtime and allows patients to resume normal daily activities while data is being collected by the capsule. Also, a smart pill can be electronically tracked and instructed to deliver a drug to a predetermined location in the gastrointestinal tract.
A smart pill can be described as a combination of micro-miniature electronics, mechanical and software engineering, and pharmaceutical sciences. A smart pill comprises five components, which include a capsule, data receiver, activation fixture, docking system, and software.
The process of smart pills is firstly a patient is required to eat a small meal called the ‘SmartBar Meal’ prior to swallowing the smart pill capsule. After the patient swallows the capsule, he/she can then continue with his/her normal routine, without the need to visit the doctor frequently.
As the capsule naturally travels through the patient’s GI tract, it collects pressure, pH, and temperature data. A data receiver, worn on a belt clip captures and stores the test data collected by the capsule.
Once the smart pill has passed with a regular bowel movement, the patient needs to visit the doctor, where the data can be downloaded from the recorder and analyzed and interpreted before discussing further procedures.
Demand for smart pills is expected to increase over the coming years, owing to the increasing prevalence of gastrointestinal diseases, and also age-related diseases.
According to the Centers for Disease Control and Prevention (CDC), an estimated prevalence rate of Crohn’s disease (a type of gastrointestinal disease) in 2015 was 201 per 100,000 adults, and the rate of incidence of Crohn’s disease was 3.1 to 14.6 cases per 100,000 persons.
In addition, primary factors expected to drive the growth of the global smart pills market include the increasing geriatric population globally, rising demand for advanced medical devices and techniques, changing lifestyles, and increasing disposable income in developing countries.
Factors hampering the growth of the global smart pills market include the high cost associated with treatment with smart pills as compared to traditional methods of treatment and fear among patients regarding swallowing a microchip.
Collaborations between research institutions and pharmaceutical companies, licensing agreements and partnerships between companies, and augmented R&D investment in smart pills are some of the current trends being witnessed in the smartpills market.
Scientists have developed a miniature silicon medical chip called ATOMS that can be used in ingestible smart pills to diagnose and treat diseases from within the body are the technological advancement in the global smartpills market.
North America is the dominant region with the highest revenue share due to the wider availability of products, favorable reimbursement policies, increase in government investments in healthcare, and higher preference for minimally invasive procedures.
Asia Pacific is an emerging market due to major corporate investments in R&D in countries such as Japan and China.
Global Smartpills Market Segmentation:
Segmentation on the basis of target area:
- Small Intestine
- Large Intestine
Segmentation on the basis of technology type:
- Capsule Endoscopy
- Drug Delivery
- Patient Monitoring
Segmentation on the basis of region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Olympus Corporation
- Medtronic Inc.
- Novartis Pharmaceuticals Corporation
- Bio-Images Research Limited
- CapsoVision, Inc.
- Given Imaging, Inc.
- Medimetrics S.A. de C.V.
- Proteus Digital Health, Inc.
- CapsoVision, Inc.
- Philips Healthcare Informatics, Inc.
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