Smart Pills Market Size Worth $9.06Bn, Globally, by 2028 at 12.3% CAGR - Exclusive Report by The Insight Partners

The Smart Pills Market Size, Growth driven by the increase in strategic collaborations & partnerships on smart pills, rising demand for minimally invasive surgical procedures, rise in the gastrointestinal disorders, rapid technological advancements in drug delivery. The drug delivery segment  is estimated to grow at the fastest CAGR of 13.4% during 2021–2028.

New York, March 24, 2022 /PRNewswire/ -- The Insight Partners published latest research study on Smart Pills Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application (Capsule Endoscopy, Drug Delivery, and Patient Monitoring), Disease Indication (Gastrointestinal Diseases, Neurological Disorders, Cancer, Inherited Disorders, and Other Disease Indications), and End User (Hospitals and Clinics, Research Institutes, and Home Healthcare)", the global smart pills market size is projected to reach $9.06 billion by 2028 from $4.01 billion in 2021; it is estimated to grow at a CAGR of 12.3% during 2021–2028.

Get Exclusive Sample Pages of Smart Pills Market Size - COVID-19 Impact and Global Analysis with Strategic Insights at https://www.theinsightpartners.com/sample/TIPHE100001238/

Smart Pills Market: Competition Landscape and Key Developments

CapsoVision, Inc.; Medtronic; Check-Cap; PENTAX Medical; Olympus Corporation; BodyCap; Otsuka America Pharmaceutical, Inc.; IntroMedic and Jinshan Science & Technology (Group) Co., Ltd.; and RF Co., Ltd. are a few key companies operating in the smart pills market. Companies operating in the smart pills market adopt product innovation strategies to meet the evolving customer demands worldwide, permitting them to maintain their brand name in the global market. Also, the companies in the market create partnerships, collaborations, and contracts with hospitals, dental specialists, and clinics to further drive the smart pills market revenue.

Inquiry Before Buying: https://www.theinsightpartners.com/inquiry/TIPHE100001238/

In February 2022, Check-Cap Ltd. announced that the Company  received approval from the U.S. Food and Drug Administration (FDA) for its amended Investigational Device Exemption (IDE) application, enabling the initiation of the U.S. pivotal study. In addition, in November 2021, Medtronic plc announced that the U.S. Food and Drug Administration (FDA)  granted 510(k) clearance for its PillCam Small Bowel 3 system for remote endoscopy procedures. The PillCam SB3 @HOME program combines Medtronic's PillCam technology with Amazon logistics, a combination intended to ensure both timely and accurate results for patients from the comfort of their homes. Also, in September 2020, CapsoVision announced that the U.S Food & Drug Administration (FDA) would apply enforcement discretion which allows at-home administration of the CapsoCam Plus small bowel capsule endoscope during the COVID-19 pandemic for patients who are determined eligible for at-home administration.

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, and targeted drug delivery. They are majorly available in the form of a vitamin capsule-sized pill and possess a small wearable sensor patch, an application on a mobile device, and a provider portal.

The strategic collaboration is a vital factor for the overall growth of the smart pills market. The players are involved in mergers, acquisitions, joint ventures, and partnerships. These activities help expand the influence of the players in the market, eventually strengthening the growth structure. Furthermore, the investment levels in the smart pills market are expanding at a rapid pace. The rising popularity of smart pills among a large chunk of the global populace attracts many investors. Various companies and investment firms are investing heavily in mergers, acquisitions, and startups. These factors help increase the growth rate of the smart pills market.

Speak to Research Analyst: https://www.theinsightpartners.com/speak-to-analyst/TIPHE100001238

Moreover, collaborations agreements between research institutions and companies, licensing agreements & partnerships amongst companies, and augmented R&D investment on smart pills are other factors boosting the market growth. In addition, for instance, in January 2021, etectRx, Inc. entered into a partnership agreement with Pear Therapeutics, Inc. to develop two product candidates in the CNS space integrating adherence sensors and PDTs (Prescription Digital Therapeutics). The partnership is the first of its kind in exploring the usage of digital pill solutions with PDTs. Furthermore, the elderly 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 need to follow a specified dose of medication at the target site are anticipated to form 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 replacing traditional endoscopy methods with advantages such as 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, in addition to hybrid imaging technologies and new component innovations. Additionally, 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 boosting the smart pills market growth.

Buy Premium Copy of Smart Pills Market Size, Share, Revenue, Strategic Insights and Forecasts 2021-2028 Research Report at https://www.theinsightpartners.com/buy/TIPHE100001238/

Browse Adjoining Reports:

Biology Smart Pills Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Capsule Endoscopy, Drug Delivery, and Patient Monitoring); Application (Imaging, and Monitoring); Disease Indication (Esophageal Diseases, Small Bowel Diseases, Colon Diseases, and Others), and geography

Drug-Delivery Smart Pill Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Application ( Capsule Endoscopy, Drug Delivery, Patient Monitoring ); Type ( Adult, Children ) Culturing, Biofuels ); Organism Type ( Plants, Animals, Microbes)

Ingestible Smart Pills Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Smart Pills, Workstation); Application (Imaging, Monitoring); End-User (Hospitals, Clinics Research Institutes, Home Healthcare)

Electronic Pill Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Target Area (Eesophagus, Stomach, Large Intestine); Application (Capsule Endoscopy, Drug Delivery, Patient Monitoring); End User (Hospitals, Diagnostic Centers, Clinical Research Organizations, Others) and Geography

Intelligent Pills Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Applications (Capsule Endoscopy, Sleeping Disorders, Reflux Monitoring, Stress Management, Mobility Monitoring, Others); Prescription Type (Prescription Smart Drugs, Non Prescription Smart Drugs); End User (Hospitals, Clinics, Home Care, Others), Impact of covid-19 pandemic.

Smart Healthcare Products Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Products (Smart RFID Cabinets, Electronic Health Record, Smart Syringes, Smart Pills, and Others); and Application (Inventory Management, Health Data Storage and Exchange, Monitoring and Treatment, and Others)

Capsule Endoscopy Market to 2027 - Global Analysis and Forecasts by Product (Endoscopy Capsule and Components); Formulation (Tablets, Capsules); Application (Obscure Gastrointestinal Bleeding (OGIB), Crohn's Disease, Small Bowel Diseases, and Other Diseases); End Users (Hospitals, Clinics, Research Centers, and Other End Users), and Geography

Liposome Drug Delivery Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product (Liposomal Doxorubicin, Liposomal Paclitaxel, Liposomal Amphotericin B, Others); Technology ( Stealth Liposome Technology, Non-PEGylated Liposome Technology, DepoFoam Liposome Technology, Lysolipid Thermally Sensitive Liposome (LTSL)); Application (Fungal Diseases, Cancer Therapy, Pain Management, Viral Vaccines, Photodynamic Therapy)

Ocular Drug Delivery Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology (Implantable Ocular Drug Delivery Systems, Particulate Drug Delivery Systems, Nano-Particle Drug Delivery System, and Others), Formulation Type (Liposomes and Nanoparticles, Solution, Emulsion, Suspension, and Ointment), Disease Type (Glaucoma, Diabetic Retinopathy, Dry Eye Syndrome, Macular Degeneration, Cataract, Diabetic Macular Edema, and Others), and End User (Hospitals, Ophthalmic Clinics, and Ambulatory Surgical Centers) and Geography

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

If you have any queries about this report or if you would like further information, please contact us:

Contact:

Sameer Joshi
E-mail: [email protected]
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/smart-pills-market

SOURCE The Insight Partners

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED