Smart pills are capsule-sized ingestible medical devices that consist of micro-sensors, micro-cameras, patches, and trackers. Smart pills by making use of these micro-sensors and cameras help in more appropriate and non-invasive disease diagnostics. Smart pills, being non-invasive can be a potent alternative approach against invasive procedures such as gastrointestinal endoscopy/colonoscopy. The product has its wide application in drug delivery and real-time patient monitoring. It is an innovative approach to gather images from areas of the gastrointestinal tract, such as colon, where traditional endoscopies are unable to reach. Once swallowed, sensors provide information about various health parameters of the patient and the effectiveness of the medication treatment, which facilitate in making informed healthcare decisions and optimized therapies.

The research provides detailed analyses of the top investment pockets, industry trends, driving forces & opportunities, key market segments, major developments, and competitive landscape. According to the report, the global smart pills market generated $256.7 million in 2017 and is estimated to reach $650.3 million by 2025, growing at a CAGR of 12.1% from 2018 to 2025.

Moreover, a significant rise in geriatric population, rise in chronic disorders such as cancer, diabetes, and others, drive the smart pills market growth. In addition, increased R&D investments by manufacturers in developing smart pills boosts the market growth. However, stringent governmental regulations regarding the vigorous use of these devices and high cost associated with the ingestible sensors is anticipated to restrain the market growth. On the contrary, a surge in technological advances in bioelectronics, and availability of microprocessors are anticipated to offer lucrative opportunities in the future.

Leading industry players:

The leading industry players analyzed in the research include Proteus Digital Health, CapsoVision, Inc., HQ, Inc., Olympus Corporations, Medtronic Plc., RF Co., Ltd., IntroMedic Co., Ltd., Check-Cap, JINSHAN Science & Technology, and Koninklijke Philips N.V. These market players have implemented various strategies such as collaborations, partnerships, joint ventures, expansions, and others to gain a stronghold in the industry.

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