The Global Smart Pills Market is expected to grow at a high CAGR of 16.21% during the forecasting period ( 2022-2029).
Smart pills are a revolutionary technological innovation that reduced the gap between healthcare and digital technology. Smart Pills are used to monitor temperature, drug adherence, and other parameters associated with the patient’s body. These unique devices can be easily swallowed and offer a non-invasive, thorough examination of the gastrointestinal (GI) tract and many other parts of the body.
The global smart pills market growth is driven by the increase in the geriatric population, technological advancements in the field of endoscopy and an increase in the prevalence of colon cancer and inflammatory bowel disease are driving the global smart pills market during the forecast period.
Increasing preference for minimally-invasive devices is driving the market growth
The increased need for minimally invasive devices that are convenient and provide accurate therapeutic treatment strategies has led to an increased interest in research on smart pills. Products include Insulet Omnipod, the Medtronic MiniMed, and Animas OneTouch Ping. These systems combine features of an insulin pump, a drug reservoir, a blood sugar monitor, and handheld management devices.
Controlled by electronics, a smart drug delivery pill has great flexibility and precise control in dosage, delivery location, and release rate. Simultaneously, the pills can be used to monitor the local gastrointestinal (GI) environment, report measurements in real-time, and be controlled by an operator to perform an action on demand. Smart pills eliminate the need for invasive procedures as wireless communication allows the transmission of real-time information. Advances in battery technology (providing longer life) and onboard memory make them useful for long-term sensing from within the body. In the future, smart pills are likely to become an important part of remote patient monitoring and telemedicine. This sort of multi-dimensional performance is impossible with conventional oral drug forms. Smart pills have revolutionized the diagnosis of gastrointestinal disorders and are likely to replace the need for conventional diagnostic techniques like endoscopy. Traditionally, an endoscopy probe is inserted into a patient’s esophagus, and subsequently, the upper and lower alimentary canal for diagnostic purposes.
Download Sample Brochure @ https://www.datamintelligence.com/download-sample/smart-pills-market
By Product Type
- Capsule endoscopy
- Drug delivery
- Patient Monitoring
By Target Area
- Small intestine
By Disease Indication
- Digestive Tract Diseases
- Esophageal Diseases
- Small Bowel tumors
The smart Pills Market is a moderately competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include CapsoVision Inc., Medtronic PLC, IntroMedic, Olympus Medical Technology, Jinshan Science and Technology, etectRx Inc., Medisafe, HQ, Inc, Check-Cap. among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the smart Pills Market globally. For instance, in January 2021, etectRx announced that it had entered a partnership with Pear Therapeutics. The partnership will help in the development of two products that will combine Electrix’s medication adherence sensors with Pear’s digital therapeutics.
DataM Intelligence was established on an elemental idea of publishing Advanced Market Research Reports with precise data points & utmost accuracy that will accelerate the decision-making in designing disruptive solutions.