Smart Pills Market worth $1.30 billion by 2030
The report "Smart Pills Market by Application (Capsule Endoscopy, Drug Delivery, Patient Monitoring), Target Area (Esophagus, Small Intestine, Large Intestine, Stomach), End User (Hospitals, Diagnostic Centers), and Region - Global Forecast to 2030", is expected to reach USD 1.30 billion by 2030 from USD 0.69 billion in 2024, at a CAGR of 11.2% during 2024–2030.
Browse 104 market data Tables and 33 Figures spread through 150 Pages and in-depth TOC on "Smart Pills Market by Application (Capsule Endoscopy, Drug Delivery, Patient Monitoring), Target Area (Esophagus, Small Intestine, Large Intestine, Stomach), End User (Hospitals, Diagnostic Centers), and Region - Global Forecast to 2030"
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According to Crohn's and Colitis Canada, the prevalence of IBD in Canada is experiencing a significant increase. The number of individuals affected is projected to rise from 322,600 people in 2023 (0.8% of the population) to 470,000 by 2035 (1.1% of the population). In new diagnoses, it is estimated that 11,000 individuals will be diagnosed with IBD in 2023, equivalent to approximately one diagnosis every 48 minutes. By 2035, this number is expected to rise to 14,000, representing a diagnosis occurring roughly every 38 minutes. Factors driving the market growth include the increased patient demand for minimally invasive procedures and rise in the inflammatory bowel diseases.
Capsule endoscopy segment is expected to grow at a highest CAGR during the forecast period
By application, smart pills market is bifurcated into capsule endoscopy, patient monitoring, and targeted drug delivery. In 2023, patient monitoring segment accounted for the second largest share of smart pills market. This is attributed to launch of innovative sensor technologies and the rising need for precise & accurate measurement of inner body temperatures. Increasing demand for streamlined integration is expected to enhance the adoption of smart pills due to expanded connectivity and compatibility with digital health systems.
Large Intestine hold the second largest share during the forecast period.
Based on target area, smart pills market is segmented into small intestine, large intestine, esophagus, and stomach. Large intestine holds the second largest share during forecast period in 2023. As per the American Society of Clinical Oncology (ASCO), estimated 153,020 adults in the US will be diagnosed with colorectal cancer in 2023. These numbers involve 106,970 new cases of colon cancer and 46,050 new cases of rectal cancer. The growing number of cases of colorectal cancer have contributed to the increasing adoption of smart pills in the large intestine, as smart pills can reach areas of the colon that may be difficult to visualize with traditional methods.
Asia Pacific is registered the highest growth during the forecast period with significant CAGR in 2023.
The smart pills market is segmented into five major regions: North America, Asia Pacific, Europe, Middle East & Africa, and Latin America. During forecast period, the Asia-pacific smart pills market is expected to grow at the highest CAGR. Factors which are driving this growth include increased in the presence of established vendors in the regional market and growing adoption of capsule endoscopy in countries such as China and India. The growing incidence of stomach cancer in Japan has created a rising demand for advanced diagnostic technologies such as capsule endoscopy. This non-invasive and patient-friendly method employs small, swallowable capsules equipped with cameras to capture specified images of the gastrointestinal tract.
The key players operating in the smart pills market include Medtronic (US), Olympus Corporation (Japan), CapsoVision,Inc. (US), IntroMedic (South Korea), ANX Robotics (US), Shenzhen Jifu Medical Technology Co., Ltd. (China), JINSHAN Science & Technology (Group) (China), etectrx (US), Check-Cap (Israel), BodyCap (France), and Shangxian Minimal Invasive Inc (China).
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