Press release
Smart Pills Market Size, Growth, Revenue Share Analysis, Company Profiles, and Forecast To 2028
The Global Smart Pills Market size is projected to reach US$ 9,061.29 million by 2028 from US$ 4,019.30 million in 2021. The global Smart Pills market size is estimated to grow at a CAGR of 12.3% during 2021-2028.The report highlights trends prevailing in the market and the factors driving it. The Smart Pills market growth is attributed to the increase in strategic collaborations & partnerships on smart pills and rising demand for minimally invasive surgical procedures. However, the high cost of smart pills can hamper the smart pills market growth.
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Analysis of the Top Market Players:
1. CapsoVision, Inc.
2. Given Imaging, Inc.
3. Check-Cap
4. PENTAX Medical
5. Olympus
6. BodyCap
7. Otsuka America Pharmaceutical, Inc.
8. IntroMedic
9. Jinshan Science & Technology (Group) Co., Ltd.
10. RF Co., Ltd.
In this report, the market has been segmented on the basis of:
Application
• Capsule Endoscopy
• Drug Delivery
• Patient Monitoring
Disease Indication
• Gastrointestinal Diseases
• Neurological Disorders
• Cancer
• Inherited Disorders
• Other Disease Indications
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The geriatric population is highly vulnerable to gastrointestinal disorders. Various smart pills are now being analyzed for potential application in therapeutics and diagnosing several acute and chronic diseases. Patients with chronic diseases who follow a specified dose of medication at the target site are forming a large customer base for advanced drug delivery products. The increasing demand for minimally invasive surgical procedures led to innovative techniques, such as capsule endoscopy.
Capsule endoscopy is expected to replace traditional endoscopy methods due to its advantages, including ease of administration and detailed observation of the gastrointestinal tract. The capsule endoscopy plays a vital role in the early diagnosis and proper treatment of these disorders, along with hybrid imaging technologies and new component innovations.
Moreover, for instance, as per the University of Texas Health Science Center, the deployment of various colorectal cancer screening procedures such as capsule endoscopy improves adherence to screening. The university conducted a study comprising haphazardly assigned patients aged between 50 and 75 years and inferred that capsule endoscopy gives better diagnostic results when compared with CT colonography. Such findings are estimated to boost the segment growth over the forecast period.
Furthermore, patients with a maximal requirement for home healthcare services face challenges concerning access and use of smart pills, which resulted in developers and producers increasing the accessibility & usability of these devices, thereby facilitating the interpretation of data more simply.
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