Global Monitoring Smart Pills Market Size, Share, and COVID-19 Impact Analysis, By Application (Capsule Endoscopy, Drug Delivery & Patient Monitoring), By Target Area (Esophagus, Stomach, Small Intestine & Large Intestine), By Disease Indication (Esophageal Diseases, Small Bowel Diseases, Colon Diseases, Neurological Disorders, Others), By End User (Hospitals, Clinics, Diagnostic Center, Research Institutes, Home Healthcare, Others) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) Analysis and Forecast 2022-2028

KEY MARKET INSIGHTS

The global monitoring smart pills market was valued at USD 685.1 Mn in 2021. The market is projected to grow USD 1.9 Bn in 2028, at a CAGR of 19.5%. A smart pill is a medical device with an in-built of small electronic component, such as sensors, cameras, or trackers. Smart pill research has generated interest due to the increased desire for minimally invasive technologies that are both handy and deliver precise therapeutic treatment options. Some of the products offered are the Insulet Omnipod, Medtronic MiniMed, and Animas OneTouch Ping. These systems comprise an insulin pump, a medication reservoir, a blood sugar monitor, and handheld management devices. In terms of dosage, delivery site, and release rate, a smart medicine delivery pill controlled by electronics has a lot of versatility and precision. The tablets can also be utilised to monitor the local GI environment, provide real-time measurements, and be controlled by an operator to conduct an action on demand.

COVID-19 ANALYSIS

The COVID-19 pandemic has resulted in unforeseen consequences such as significant delays in disease detection and treatment. COVID-19 is predicted to result in a roughly 60% reduction in overall outpatient visits in May 2020, according to the Commonwealth Fund 2020. Because smart tablets are typically administered to patients in hospitals, demand was predicted to suffer as a result. The outbreak of COVID-19 is anticipated to have an impact on market growth because hospitals and healthcare services have been considerably decreased as a result of social distancing measures enacted by governments around the world. Furthermore, the COVID-19 pandemic had a huge influence not only on the global economy, but also on general hospital care for non-COVID-19 patients in hospitals all over the world. Governments all over the world have issued laws, regulations, and protocols that enterprises must follow in order to resume manufacturing.

LATEST TREND

Growing Technological Advancements in Endoscopy Procedures

Growing technological advancements in endoscopy procedures are fueling the growth of the global monitoring smart pills market. The generation of endoscopic lesion images without the use of dyes is possible thanks to the employment of virtual optical filters, magnification, and mobile, high-resolution optical devices and software. The standard white-light endoscopic view option is one of the most fundamental features of these systems.

DRIVING FACTORS

Growing Prevalence of Colon Cancer Among Young Adults

Increasing number of colon cancer among young millennials is aiding the growth of the global monitoring smart pills market. In 2019, in a survey, colon cancer witnessed for an estimated 78,500 new cases in men and 67,100 new cases in women.

Rising Chronic Diseases to be Target Consumers of Smart Pills

Medication delivery systems with intrinsic benefits such as low side/adverse effects, tailored drug delivery, optimised API utilisation, and reduced dosing frequency have seen a surge in demand. As a result, breakthrough medications, modern technologies, and medical devices have been integrated into drug delivery systems, leading in the development of smart pills. People with chronic conditions who must adhere to a strict drug regimen are likely to be the primary patient base for smart tablets.

RESTRAINTS

Concerns Pertaining a Fear to Swallow a Microchip Among Patients

Few patients have a fear or face challenges to swallow a microchip is hindering the growth of the global monitoring smart pills market. The patients suffering from Choking Phobia is limiting the growth of the market.

SEGMENTATION

The global monitoring smart pills market is segmented by Type (Capsule Endoscopy, Drug Delivery & Patient Monitoring), By Target Area (Esophagus, Stomach, Small Intestine & Large Intestine), By Disease Indication (Esophageal Diseases, Small Bowel Diseases, Colon Diseases, Neurological Disorders, Others), By End User (Hospitals, Clinics, Diagnostic Center, Research Institutes, Home Healthcare, Others) and Region. Based on the type, the market is categorized into capsule endoscopy, drug delivery & patient monitoring. Based on target area, the market is categorized into esophagus, stomach, small intestine & large intestine. Based on disease indication, the market is categorized into esophageal diseases, small bowel diseases, colon diseases, neurological disorders, others. Based on end user, the market is categorized into hospitals, clinics, diagnostic center, research institutes, home healthcare, others. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.

By Application

Based on application, is categorized into capsule endoscopy, drug delivery and patient monitoring. The capsule endoscopy segment is expected to dominate the market share of global monitoring smart pills market owing to the growth in the choice for non-invasive diagnostic treatments, as well as a considerable rise in gastrointestinal illnesses around the world.

By Target Area

Based on target area, the market is categorized into esophagus, stomach, small intestine & large intestine. The small intestine segment is expected to dominate the market share of global monitoring smart pills market owing to the significant rise in small intestinal disorders such as celiac disease, Crohn’s disease, and small bowel tumors.

By Disease Indication

Based on disease indication, the market is categorized into esophageal diseases, small bowel diseases, colon diseases, neurological disorders, others. The esophageal diseases are expected to dominate the market share of global monitoring smart pills market owing to the

By End User

Based on end user, the market is categorized into hospitals, clinics, diagnostic center, research institutes, home healthcare, others. The hospitals segment is expected to dominate the market share of global monitoring smart pills market owing to the increasing chronic diseases among the patients.

REGIONAL INSIGHTS

The global monitoring smart pills market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America region is expected to dominate the market share of global monitoring smart pills market owing to the growing cases of colorectal cancer, fast regulatory approval of new products, and technological advancements in the healthcare sector. However, Asia Pacific region is expected to witness highest growth rate during the forecast period of global monitoring smart pills market due to the rising cases of gastrointestinal disorders, mandatory provisions of healthcare insurance, and stomach cancer are primary factors influencing the market growth.

INDUSTRY PLAYERS

· Medtronic

· CapsoVision, Inc

· Given Imaging, Inc.

· Koninklijke Philips NV (Medimetrics)

· Olympus Corporation

· Bio-Images Research Limited

· Novartis AG

· Check-Cap

· Otsuka Pharmaceutical Co. Ltd

KEY INDUSTRY DEVELOPMENTS:

January 2021- etectRx has entered into a partnership with Pear Therapeutics. The partnership will focus in the development of two products that will combine etectRx’s medication adherence sensors with Pear’s digital therapeutics.

August 2020- Otsuka acquired Proteus Digital Health for the valuation of USD 15 million.

SEGMENTATION

By Type

• Capsule Endoscopy
• Drug Delivery
• Patient Monitoring

By Target Area

• Esophagus
• Stomach
• Small Intestine
• Large Intestine

By Disease Indication

• Esophageal Diseases
• Small Bowel Diseases
• Colon Diseases
• Neurological Disorders
• Others

By End User

• Hospitals
• Clinics
• Diagnostic Center
• Research Institutes
• Home Healthcare
• Others

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy
• Asia-Pacific- China, Japan, India
• Latin America- Brazil, Argentina, Colombia
• The Middle East and Africa- United Arab Emirates, Saudi Arabia