Smart Pills Market expected to grow at a CAGR of 11.3% over the forecast period

The global smart pills market size was valued at USD 1.71 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 11.3% from 2024 to 2030. Smart pills, often called digital pills or ingestible sensors, represent a breakthrough in medical technology by combining pharmaceuticals with digital monitoring proficiencies. These pills are implanted with tiny sensors that transfer data of the body's response to medication ingestion, such as vital signs or medication adherence, to devices such as smartphones or computers. By issuing real-time insights into patient health and treatment effectiveness, smart pills enable healthcare professionals to align treatment plans more precisely and intervene promptly when there is a need.

Other significant growth aspects for the smart pill technologies market are attractive reimbursement circumstances, patient demand for less invasive treatments, technical improvements in endoscopic techniques, and the growing prevalence of colon cancer. In addition, the benefits of smart pill technology, such as breakthroughs in endoscopic procedures, focused medicine administration, and simple remote patient monitoring, boost the sale of smart pill technologies.

Gather more insights about the market drivers, restrains and growth of the Global Smart Pills market

Smart Pills Market Report Highlights

Capsule endoscopy is the largest application segment owing to factors such as growth in cancer screening awareness programs, increase in the incidence of Crohn’s disease and bowel cancer, and an increase in demand for minimally invasive procedures
North America is the dominant region with the largest revenue share. The wide availability of products, favorable reimbursement policies, increase in government investments in healthcare, and an overall rise in healthcare expenditure support market growth
Asia Pacific is expected to witness the fastest growth over the forecast period. Factors, such as an increase in disposable income, mandatory healthcare insurance, and rise in healthcare expenditure are expected to drive the market
Commercially available smart pills include PillCam Capsule, ABILIFY MYCITE, CapsoCam, and Olympus Endocapsule
Key players in the smart pills market include Medtronic, Olympus Corporation, Proteus Digital Health, MediSafe, and CapsoVision

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Segments Covered in the Report

Grand View Research has segmented the global smart pills market report based on application, and region:

Smart Pills Application Outlook (Revenue, USD Million, 2018 - 2030)