Top Companies in Smart Pills Market

The smart pills market is projected to reach USD 1.30 billion by 2030 from USD 0.69 billion in 2024, at a CAGR of 11.2% during the forecast period. The major factors driving the market growth of the smart pills market include the rising demand for noninvasive diagnostic monitoring devices, growing incidence of colon cancer, and technological innovations in capsule endoscopy. However, patient privacy concerns is expected to restrain the market growth to some extent in the coming years.

The prominent players in this market are 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). These players focus on product launches & enhancements, agreements, collaborations, partnerships, and expansions  to expand their global reach and develop innovative smart pills.

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Medtronic (US)

Medtronic is a global manufacturer of smart pills. The company offers capsule endoscopes under the Medical Surgical portfolio. The extensive product portfolio allows the company to provide comprehensive solutions to healthcare providers, including capsule endoscopy systems. The Medical Surgical segment net sales for the fiscal year 2024 was USD 8.4 billion, an increase of 5 percent compared to the fiscal year 2023. The net sales increase was primarily due to the by strength across both Surgical & Endoscopy and Acute Care & Monitoring. The company leverages its research capabilities and innovative product portfolio to ensure its strong position in the smart pills market. The company achieves its target of rapid growth by strengthening its product offerings through product approvals. For instance, in November 2021, the US Food and Drug Administration (FDA) granted 510(k) clearance for its innovative PillCam Small Bowel 3 system, which combines Medtronic's state-of-the-art PillCam technology with Amazon logistics. The company strives to enhance patient access to diagnostic technologies in remote settings such as home care through such initiatives.

Olympus Corporation (Japan)

Olympus Corporation is a provider of precision optics and imaging products. The company has established itself as a global leader in various fields, including medical and surgical equipment, life sciences, and camera & audio products. It is a leader in gastrointestinal endoscopic equipment. The company holds a significant market position in the smart pills market. The company’s Endoscopic Solutions segment offers capsule endoscopes for diagnostic imaging of the digestive tract. It derives most of its revenue from the developed regions of North America and Europe. Olympus Corporation focuses on organic strategies, such as product launches. The company launched the EndoCapsule System EC-10 a few years ago for capturing images and transmitting them wirelessly to an external data recorder worn by the patient. The company has also invested in R&D to develop smart pill technologies that explore innovative methods to integrate sensors, data transmission capabilities, and other advanced features into ingestible capsules.

CapsoVision, Inc. (US)

CapsoVision, Inc. is one of the leading players in smart pills market. The company offers the only capsule endoscopy system that provides a 360° panoramic view of the small bowel. The company is known for its advanced imaging technology, which enables high-quality visualization of the gastrointestinal (GI) tract. The company focuses on organic strategies to establish a strong foothold in the industry.In January 2025, CapsoVision, creceived FDA clearance for CapsoCam Plus for use in pediatric patients aged two and older. This milestone allows children to benefit from the ease and precision of capsule endoscopy, offering a non-invasive, comfortable diagnostic option that minimizes the stress typically associated with traditional endoscopy procedures. Furthermore, in August 2023, CapsoVision added new feature to its next-generation, cloud-based software application, designed to make clinical data management more convenient, cost-effective, and secure.

MARKET RANKING

The ranking of companies in the smart pills market has been determined through a market share analysis, conducted after thorough secondary research and validated by primary respondents. This ranking considers parameters such as revenue generated from smart pills, product portfolio breadth and depth, innovation, and launches. Based on this analysis, the top three players leading the market are Medtronic (US), Olympus Corporation (Japan), CapsoVision, Inc. (US). These companies rely on their strong R&D capabilities, diversified product portfolio, and global reach, and continuous innovation in the smart pills market. The smart pill market is highly consolidated, with two main players collectively holding 85-90% of the total market share. Medtronic stands out in the industry with its advanced capsule endoscopes, while Olympus Corporation maintains a strong position due to its leader in gastrointestinal endoscopic equipment. For instance, in November 2021, the US Food and Drug Administration (FDA) granted 510(k) clearance for its innovative PillCam Small Bowel 3 system, which combines Medtronic's state-of-the-art PillCam technology with Amazon logistics. The company strives to enhance patient access to diagnostic technologies in remote settings such as home care through such initiatives.The remaining 5-10% of the market is shared among other regional and emerging vendors, contributing to extensive fragmentation and offering opportunities for smaller players to establish a footprint. Market competition is driven by innovations in advancements in technology and innovative healthcare developments, and growing demand for non-invasive products.

Related Reports:

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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