The Smart Pills Technology Market to reach $4.9 Billion by 2030; increased prevalence of gastrointestinal diseases, demand for minimally invasive procedures, advancements in sensors and imaging technologies, increasing senior population, rise in remo

The Smart Pills Technology Market size is estimated to reach $4.9 Billion by 2030, growing at a CAGR of 16.2% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Smart Pills Technology Market – By Therapeutic Area (Gastroenterology, Oncology, Neurology, Cardiology, and Others), By Target Organ (Oral Cavity, Esophagus, Stomach, Colon, and Others), By Components (Sensors, Data Transmission Mechanism, Microprocessors, and Power Source), By Type (Capsule Endoscopy Devices, Gas Sensing Pills, Medication Monitoring Pills, Electrochemical Sensing Pills, and Others), By Application (Gastrointestinal Diagnostics, Drug Delivery, Patient Monitoring, and Others), By End-User (Hospitals, Diagnostic Centers, Ambulatory Surgical Centers, Research Institutes, and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

The rising prevalence of gastrointestinal diseases is increasing the demand for Smart Pills Technology due to the need for accurate diagnostics. The growing demand for minimally invasive procedures is driving the growth of the smart pills market. Additionally, advancements in sensors and imaging enhance smart pill capabilities improving diagnosis. The aging population fuels demand for frequent monitoring, while remote patient monitoring boosts adoption by enabling real-time health data. Advancements in drug delivery systems further drive the market through improved targeted treatments. 

North America accounted for the largest share of 35% of the Smart Pills Technology Market in 2023. Smart Pills Market is dominated by North America because of the advancement in the technology and research. According to the U.S. Centers for Medicare & Medicaid Services (CMS), over the 2023-2032 period, National Health Expenditure (NHE) was projected to grow by an average of 5.6% annually, increasing its share of GDP from 17.3% in 2022 to 19.7% in 2032. Furthermore, the U.S. Congressional Budget Office predicts that rising federal healthcare spending, such as in programs like Medicare and Medicaid, which are expected to cost $858 billion and $607 billion, respectively, in 2024, are driving the adoption of innovative healthcare technologies like smart pills. North America is in a leading position in the global smart pills market, confirmed by these factors, and supported by strong research institutions and substantial government funding.

Advancements in sensor and imaging technologies are major drivers in the Smart Pills Technology Market, as they enable more precise and efficient diagnostics, particularly in complex areas like the small bowel. For example, the NaviCam SB system by AnX Robotica stands out due to its ProScan AI-Assisted Reading Tool, which leverages deep learning and machine learning to identify abnormalities in the small bowel. This technology significantly enhances the efficiency of diagnostic procedures by differentiating normal mucosa from abnormal lesions, assisting clinicians in study reviews. In a study published in Gastroenterology, ProScan was trained on over 150,000 images from 1,970 patients. The deep learning model, based on Convolutional Neural Networks (CNN), achieved a sensitivity of 99.88% in per-patient analysis and 99.90% in per-lesion analysis, compared to conventional methods. Such high sensitivity highlights the effectiveness of advanced imaging technologies, making them a key driver in the adoption of smart pills for accurate and minimally invasive diagnostics, further expanding the market's potential.

A major driver in the Smart Pills Technology Market is the rising incidence of gastrointestinal (GI) cancers as these devices provide non-invasive, real-time diagnostic solutions. The study published by Gastro Journals in November 2023 states that GI cancers are responsible for 27% of new cancer cases as well as 37% of cancer-related deaths worldwide. The study also shows a concerning upswing in GI cancers, including gastric, pancreatic, and colorectal cancer, among adults under age 50. The demand for advanced diagnostic tools is driven by this upward trend, as alcohol consumption is also identified as a major risk factor for cancers such as oesophageal, liver, and colorectal cancer. Smart pills, which are capable of collecting in-depth health data and images from the gastrointestinal tract, are turning into a pivotal device for early cancer detection and treatment, propelling the smart pills technology market. 

Key companies profiled in the Smart Pills Technology Market are Medtronic, CapsoVision, Olympus Corporation, IntroMedic, Chongqing Jinshan Science & Technology (Group) Co., Ltd, Check-Cap, Otsuka Pharmaceutical, SmartTab, RF Co., Ltd., AnX Robotica Corporation and others.

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