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2018

Smart Pills Market

Smart Pills Market Size, Share, Competitive Landscape and Trend Analysis Report, by Application, Target Area, Disease Indication and End User : Global Opportunity Analysis and Industry Forecast, 2018 - 2025

LS : Medical Devices & Supplies

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Author's: Kavita Joshi| Tanvi Sapatnekar & Onkar Sumant | Roshan Deshmukh
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Smart Pills Market Overview:

Smart pills are capsule-sized ingestible medical devices consisting of elements such as sensors, cameras, patches, and trackers that help in better diagnostics, patient monitoring, as well as targeted drug delivery. They are majorly available in the form of a vitamin capsule sized pill and possess small wearable sensor patch, an application on a mobile device, and a provider portal. Once swallowed, it gets activated in the gut; the sensors provide information about patient’s health parameters and the effectiveness of medication treatment leading to more informed healthcare decisions and optimized therapies. Moreover, smart pills have revolutionized the field of gastrointestinal diagnosis. Smart pills, being non-invasive can be a potent alternative approach against invasive procedures such as gastrointestinal endoscopy/colonoscopy. The global smart pills market was valued at $257 million in 2017, and is expected to reach $650 million by 2025, registering a CAGR of 12.1% from 2018 to 2025.

Smart Pills Market

A considerable increase in geriatric population, rise in chronic disorders such as cancer, diabetes, and others, and surge in prevalence of lifestyle-related disorders, such as obesity, gastroesophageal reflux disease (GERD), gastric ulcers, and others majorly drive the growth of the smart pills market. In addition, increased R&D investments in developing smart pills further boost the market growth. However, stringent government regulations regarding the increased use of these devices and high cost associated with the ingestible sensors are the factors anticipated to restrain the growth of the market. Furthermore, rise in technological advances pertaining to smart pills such as bioelectronics, availability of microprocessors, micro-cameras, miniaturization, and others are predicted to offer lucrative opportunities in future.

Smart Pills Market By Application

Application segment review

Based on application, the smart pills market is bifurcated into capsule endoscopy, drug delivery, and patient monitoring. The capsule endoscopy application segment was the highest contributor to the market, in 2017, and is anticipated to maintain its dominance throughout the forecast period. This is attributed to the increase in preferences toward non-invasive diagnostic procedures and the significant increase in gastrointestinal disorders across the globe.

Smart Pills Market By Target Area

Target Area segment review

Based on the target area, the smart pills market is classified into the esophagus, small intestine, large intestine, and stomach. The small intestine target area accounted for the highest revenue in 2017 and is expected to maintain its dominance throughout the forecast period. This is attributed to the significant increase in small intestinal disorders such as Crohn’s disease, celiac disease, and small bowel tumors.

Smart Pills Market By Region

Geography segment review

Based on region, the smart pill market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market in 2017, accounting for highest share, and is anticipated to maintain this trend throughout the forecast period. However, Asia-Pacific is projected to register the highest growth rate from 2018 to 2025. 

The report provides a comprehensive analysis of the leading companies operating in the global market such as Proteus Digital Health, HQ, Inc., CapsoVision, Inc., Medtronic Plc., Olympus Corporations, IntroMedic Co., Ltd, RF Co., Ltd, JINSHAN Science & Technology, Check-Cap, and Koninklijke Philips N.V. The other key players in the value chain (not included in the report) include GE Healthcare, NOVARTIS AG, Fujifilm Holdings Corporation, Bio-Images Drug Delivery (BDD) Limited, Quotient Clinical Ltd., Innovative Devices LLC, and PENTAX Medical

Key Benefits for the Smart Pills Market:

  • The study provides an in-depth analysis of the smart pills market with the current trends and future estimations to elucidate the imminent investment pockets.

  • Comprehensive analysis of the factors that drive and restrict the market growth is provided.

  • Comprehensive quantitative analysis of the industry is provided from 2018 to 2025 to assist stakeholders to capitalize on the prevailing market opportunities.

  • Extensive analysis of the key segments of the industry helps to understand the trends in smart pills market globally.

  • Key players and their strategies are provided to understand the competitive outlook of the industry.

Smart Pills Market Key Segments

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

    • US
    • Canada
    • Mexico
  • Europe

    • UK
    • France
    • Germany
    • Italy
    • France
    • Russia
    • Rest of Europe
  • Asia-Pacific

    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Australia
    • Rest of Asia-Pacific
  • LAMEA 

    • Saudi Arabia
    • South Africa
    • Brazil
    • Argentina
    • Rest of LAMEA

Smart Pills Market Report Highlights

Aspects Details
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By APPLICATION
  • Capsule Endoscopy
  • Drug Delivery
  • Patient Monitoring
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By TARGET AREA
  • Esophagus
  • Stomach
  • Small Intestine
  • Large Intestine
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By DISEASE INDICATION
  • Esophagus Diseases
  • Small Bowel Disease
    • Crohn’s Disease
    • Small bowel tumors
    • Celiac disease
    • Others
  • Colon Diseases
  • Others
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By END USER
  • Diagnostic Centers
  • Hospitals
  • Research Institutes
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
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Key Market Players

IntroMedic Co., Ltd, RF Co., Ltd., Medtronic plc, JINSHAN Science & Technology, Koninklijke Philips N.V., HQ.Inc., CapsoVision, Inc., Check-Cap Ltd., Proteus Digital Health, OLYMPUS Corporation.

Analyst Review

Smart pills are capsule-sized ingestible medical devices that consist of sensors, cameras, patches, and trackers that help in better diagnostics, patient monitoring, as well as targeted drug delivery. Smart pills, being non-invasive can be a potent alternative approach against invasive procedures such as gastrointestinal endoscopy/colonoscopy. The major factors that drive the growth of the global smart pills market are rise in R&D expenditure pertaining to smart pills, increase in per capita expenditure on healthcare in developing economies, and favorable government regulations.

The major factors that contribute to the market growth include increase in geriatric population, rise in gastrointestinal disorders such as GERD, colorectal cancer, and others. In addition, increased use of smart pills in diagnostic centers and hospitals for the diagnosis of the disease significantly drives the growth of the market. Further, smart pills are being considered as a potent alternative to traditional, painful, endoscopic procedures, which also is expected to fuel the market growth.

Moreover, capsule endoscopy accounted for the largest market share in the application segment owing to its increased use in diagnostic procedures for gastrointestinal disorders. Capsule endoscopy is being widely performed to diagnose the aforementioned disease indications and thereby, significantly contributes for the growth of smart pills globally. There have been remarkable advancements as well as some major developments, such as devices with more throughput and accurate results, in this market. Nevertheless, the growth in need of non-invasive devices has increased the demand for innovative technologies along with newer versions of capsule endoscopes.

Author Name(s) : Kavita Joshi| Tanvi Sapatnekar & Onkar Sumant | Roshan Deshmukh

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Smart Pills Market

Global Opportunity Analysis and Industry Forecast, 2018 - 2025