New York, United States , June 21, 2024 (GLOBE NEWSWIRE) -- The Global Smart Pills Market Size is to Grow from USD 0.5 Billion in 2023 to USD 1.5 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 11.61% during the projected period.
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Smart pills, at times known as digital pills, are antibiotics that have automated, edible components that, when consumed, send wireless signals to various devices such as cellphones, tablets, or patches that are outside the body. These systems include an artificial lake for medicine administration, an insulin pump, a blood sugar meter, and handheld delivery devices. They began as capsule-sized vitamin pills and have now evolved into provider portals, mobile applications, and tiny wearable device devices. Because they are non-invasive, smart tablets are becoming an important diagnostic tool for gastrointestinal disorders. Patients are likely to choose non-invasive diagnostic techniques when they are more convenient, less uncomfortable, and have fewer potential negative outcomes. The growing need for non-invasive diagnostics is driving the development of cutting-edge technology, such as smart pills that may provide diagnostic information without invasive procedures. The shift toward least intrusive diagnosis is congruent with the movement toward patient centered care and customized medicine. However, the decision of making large investments in R&D is required to advance and improve the technology that powers smart pills. Throughout the process, intricate sensors, tiny cameras, wireless connectivity, and data processing algorithms are all built and tested.
Browse key industry insights spread across 250 pages with 110 Market data tables and figures & charts from the report on the “Global Smart Pills Market Size, Share, and COVID-19 Impact Analysis, By Target Area (Esophagus, Small Intestine, Large Intestine, and Stomach), By Application (Capsule Endoscopy, Drug Delivery, and Patient Monitoring), By End User (Hospital, Diagnostic Center, Research Institute, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.”
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The small intestine segment is anticipated to hold the greatest share of the global smart pills market during the projected timeframe.
On the basis of target area, the global smart pills market is divided into esophagus, small intestine, large intestine, and stomach. Among these, the small intestine segment is anticipated to hold the greatest share of the global smart pills market during the projected timeframe. The main cause of this is the significant increase in small intestinal disorders, such as difficult-to-access small intestine diseases, Crohn's disease, celiac disease, and small bowel tumors.
The capsule endoscopy segment is anticipated to grow at the fastest pace in the global smart pills market during the projected timeframe.
On the basis of application, the global smart pills market is divided into capsule endoscopy, drug delivery, and patient monitoring. Among these, the capsule endoscopy segment is anticipated to grow at the fastest pace in the global smart pills market during the projected timeframe. The increase in colon cancer cases is the reason for this, and more modern techniques like capsule endoscopy are gradually taking the place of more traditional gastrointestinal diagnostic techniques like colonoscopy and endoscopy.
The hospitals segment is predicted to grow at the highest pace in the smart pills market during the estimated period.
On the basis of end user, the global smart pills market is divided into hospitals, diagnostic centers, research institutes, and others. Among these, the hospitals segment is predicted to grow at the highest pace in the smart pills market during the estimated period. The non-invasive nature of smart tablets and their ability to enhance early detection and diagnosis make them a feasible choice for hospitals seeking to improve patient care and address the increasing burden of IBD.
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North America is expected to hold the largest share of the global smart pills market over the forecast period.
North America is expected to hold the largest share of the global smart pills market over the forecast period. North America is a significantly valuable market. Moreover, the growing prevalence of inflammatory bowel diseases (IBD) in North America is a major factor driving the market's growth in this area. The area is expected to hold its lead during the projected period due to factors such rising colorectal cancer incidence, technological advancements in the healthcare sector, and regulatory approval of novel products.
Asia Pacific is predicted to grow at the fastest pace in the global smart pills market during the projected timeframe. Development in Asia Pacific is expected to be substantial, especially in China, India, and Japan. The primary causes driving the Japanese business include gastrointestinal issues, the rise in stomach cancer instances, technological advancements, and the requirement for healthcare insurance. Some Asian countries have some of the highest incidence rates in the world, including China, Japan, and Mongolia.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global smart pills market include Chongqing Jinshan Science Technology (Group) Co., Ltd,RF Co., Ltd, etectrx, BodyCap, CapsoVision,Inc., Medtronic plc, Check-Cap Ltd., IntroMedic, ANX Robotica Corp., Olympus Corporation, Shenzen Jifu Medical Technology Co., Ltd and Otsuka America Pharmaceutical, Inc and others.
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Recent Developments
- In April 2023, Apollo introduced the Da Vinci Xi Robotic Surgical System, featuring state-of-the-art technology and advancements in surgical procedures. This system is designed to enable minimally invasive surgeries, involving small incisions, leading to reduced patient trauma, less pain, and faster recovery compared to traditional open surgeries. The advanced technology of the Da Vinci Xi system contributes to improved surgical outcomes.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global smart pills market based on the below-mentioned segments:
Global Smart Pills Market, By Target Area
- Esophagus
- Small Intestine
- Large Intestine
- Stomach
Global Smart Pills Market, By Application
- Capsule Endoscopy
- Drug Delivery
- Patient Monitoring
Global Smart Pills Market, By End User
- Hospital
- Diagnostic Center
- Research Institute
Global Smart Pills Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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