Smart Pill Technology Market Size, Share, Opportunities, And Trends By Target Area (Esophagus, Small Intestine, Large Intestine, Stomach), By Application (Capsule Endoscopy, Patient Monitoring, Drug Delivery), By Disease Indication (Barrett's Esophagus, Small Bowel Diseases, Colon Cancer, Others), By End-User (Hospitals And Clinics, Diagnostic Centres, Research Centres), And By Geography - Forecasts From 2024 To 2029

The smart pill technology market is anticipated to grow significantly over the forecast period.

Smart pill technology represents a groundbreaking advancement in the field of healthcare, offering innovative solutions for medication management and patient care. These pills are equipped with sensors or other electronic components that enable them to monitor various physiological parameters, track medication adherence, and transmit data to healthcare providers in real time. By leveraging wireless communication and data analytics, smart pills provide valuable insights into patient health, medication efficacy, and disease management. This transformative technology holds immense potential to enhance treatment outcomes, improve patient compliance, and revolutionize the way healthcare is delivered and monitored.

Market Drivers

• Rising rate of chronic diseases

The rising prevalence of neurological, cancer, and various other conditions is fueling the demand for smart pills within healthcare settings. For example, according to the September 2021 update from the World Health Organization, approximately 55 million individuals are afflicted with dementia, with more than 60% residing in low and middle-income nations. The same source projects that this figure is set to escalate to 78 million by 2030 and 139 million by 2050. With the growing incidence of Alzheimer's and dementia, there is an elevated risk of patients missing medication doses or experiencing incorrect administration, underscoring the necessity for smart pills. Consequently, the escalating global disease burden is driving the surge in demand for smart drug delivery systems, consequently propelling the growth of the smart pill market in the foreseeable future.

• Increasing number of blood cancer patients

As reported by GIE Media, Inc. in December 2021, the demand for surgical teams to execute intricate maneuvers using specialized tools under restricted visibility and motion range has necessitated higher levels of proficiency. Essential supporting equipment includes endoscopic cameras, visualization scanners, contrast injectors, and similar devices. Additionally, an article published in IEEE Access in February 2021 highlights the mainstream adoption of minimally invasive medicine due to its significant clinical advantages, such as reduced risk of postoperative complications, minimal blood loss, quicker postoperative recovery, and smaller physiological tissue wounds. These factors have contributed to a growing preference for minimally invasive surgeries among patients, consequently driving the smart pills market growth.

North America is anticipated to hold a significant share of the market

North America has emerged as the leading market globally, driven by factors such as the widespread adoption of advanced technological solutions for streamlined patient care, a sizable customer base, and a rapidly expanding elderly population. The rising incidence of medication errors attributed to human involvement in speciality drug distribution underscores the importance of prioritizing value-based patient care in the United States, fueling the demand for smart pills.

For instance, according to a July 2022 article published by the National Library of Medicine, an estimated 7,000 to 9,000 individuals succumb to drug-related errors annually in the United States alone. This data underscores the growing necessity for smart pill solutions in the country to mitigate medication errors. Furthermore, findings from the 2022 Alzheimer's Disease Facts and Figures report reveal that over 6 million Americans across all age groups are afflicted with Alzheimer's, with an additional 6.5 million individuals aged 65 and above projected to have the disease in 2022. The report also indicates that approximately 10.7% of the U.S. population aged 65 and older suffer from Alzheimer's dementia, with the prevalence increasing with age, affecting 5.0% of individuals aged 65 to 74. These statistics underscore the anticipated surge in demand for smart pills within the United States.

Market Developments

• In September 2022, HealthBeacon plc expanded its platform to handle intricate and vital medication schedules by introducing its latest HB Smart Pills Management System.
• In July 2022, health researchers in Scotland initiated a new project worth EUR 6 million aimed at integrating Artificial Intelligence (AI) technology into capsule endoscopy for future diagnostics of bowel cancer.
• In January 2022, Novo Nordisk introduced semaglutide, an anti-diabetes medication, in India for the management of type 2 diabetes. Semaglutide is a molecule analogous to glucagon-like peptide (GLP-1) receptors and represents a promising addition to the diabetes treatment regimen.

Market Segmentation

• By Target Area
  • Esophagus
  • Small Intestine
  • Large Intestine
  • Stomach
• By Application
  • Capsule Endoscopy
  • Patient Monitoring
  • Drug Delivery
• By Disease Indication
  • Barrett's Esophagus
  • Small Bowel Diseases
  • Colon Cancer
  • Others
• By End-User
  • Hospitals and Clinics
  • Diagnostic Centres
  • Research Centres
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others