Smart pills market is projected to grow at a considerable double-digit CAGR during the forecast period (2019-2025). Smart pill technology is the use of advanced methods for the preparation of prescription pills which has revolutionized patient monitoring, diagnosis of diseases, and improved drug delivery. Smart pill technology is the converging link between digital technology and healthcare industries. These smart pills have many benefits other than providing signals and alerts when consumed. 

According to the World Health Organization (WHO), the number of people aged 65 years or older is anticipated to increase from 605 million to 2 billion by 2050.  The geriatric population is more susceptible to geriatric gastrointestinal diseases such as ulcerative colitis and IBM. Therefore the increasing number of geriatric populations across the globe may also demand treatment of gastrointestinal diseases, hence promoting the market growth of the smart pill market. Significant demand for minimally invasive surgeries has led to the development of innovative techniques such as the capsule endoscopy. 

Ease of administration and in-depth observation of the gastrointestinal tract offered by capsule endoscopy has made it to replace conventional endoscopy procedures which in turn is driving the growth of the smart pill market. However, lack of awareness regarding smart pills, low availability and high price of the product, and stringent regulatory policies are anticipated to restrain the growth of the smart pills market during the forecast period. Nevertheless, the rise in mergers and acquisitions and joint ventures, increase in R&D investments, and technological advancement are projected to provide the global smart pills market attractive opportunities to expand during the forecast period.

Segmental Outlook  

The smart pills market is segmented on the basis of application, and target area. Based on the application market is segmented into capsule endoscopy, drug delivery, and patient monitoring. The capsule endoscope is anticipated to hold considerable market share during the forecast period. Based on the target area, the market is segmented into the esophagus, stomach, small intestine, and large intestine. Based on the target area, the small intestine held considerable market share in 2018.

Capsule Endoscopy will be considerable segment by Application

Capsule endoscopy is most commonly used to target the small bowel, which is seen as a golden standard if GI bleeding is suspected. Additionally, most hepatologists perform either upper endoscopy or capsule endoscopy for detecting and assessing the severity of esophageal varices. Different capsules enlarge the variety of utilization and diagnostics. Capsule endoscopy has the largest share in the market, as these smart pills are used to treat related diseases in the GI tract, which includes Crohn’s disease, obscure GI bleed, celiac disease, and small bowel tumors. Furthermore, the increasing prevalence of gastrointestinal disorders is also anticipated to fuel the market over the forecast period.

Global Smart Pill Market Share by Application, 2018 (%)

Regional Outlook 

The global smart pills market is further segmented on the basis of geography including North America, Europe, Asia-Pacific and Rest of the World. North America is anticipated to hold a major market share in the global smart pill market during the forecast period. The presence of key market players of the smart pill market including Boston Scientific Corp., GE Healthcare, and Olympus Corp. in the region has been a major contributor to the high market share. The proper medical reimbursement policy, high disposable income, and rising incidences of geriatric gastrointestinal diseases and advancements in healthcare facilities in the region further promote the growth of the regional market. The shifted trend for non-invasive treatment in the US has made a considerable market share in the region of North America. 

Global Smart Pill Market Growth, by Region 2019-2025

Market Players Outlook

Medtronic plc, Fujifilm Holdings Corp., GE Healthcare, Olympus Corp., Novartis AG, Otsuka Holdings Co. Ltd., PENTAX Medical, CapsoVision, Inc., Otsuka Holdings Co., Ltd., Proteus Digital Health, Quotient Clinical Ltd. and so on are the key market operating in the global smart pill market. These key market players are actively adopting strategic growth activities including mergers and acquisitions, partnerships and collaboration among others to enhance their market presence. The FDA approval for new product launches is the core strength of these key market players of the smart pill market to stay competitive in the market. 

The Report Covers

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global smart pill market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.