Smart Pills Patient Monitoring Market Analysis by Target Area (Esophagus, Stomach, Small Intestine, and Large Intestine); by Application (Capsule Endoscopy, Patient Monitoring, and Drug Delivery); by Disease Indication (Small Bowel Tumors, Celiac Disease, Inherited Polyposis Syndromes, Neurological Disorders, Crohn's Disease, Occult GI Bleeding, and Others); and by End-User (Hospitals, Specialty Clinics, and Others) - Global Supply & Demand Analysis & Opportunity Outlook 2023-2035

Global Smart Pills Patient Monitoring Market Definition

Smart pills are encapsulated medical gadgets with sensors, cameras, patches, and trackers that assist in more accurate diagnosis, health monitoring, and targeted drug delivery. These medicinal capsules execute cutting-edge functions. The majority of smart pills are available in the shape of vitamin capsule-sized pills. When they are ingested, they travel along the gastrointestinal tract and get activated in the gut, allowing them to collect information that would otherwise be difficult to obtain before being easily discarded from the body.

They are distinguished from implanted or wearable sensors by their categorization as ingestible sensors. The sensors provide data on a patient's health metrics as well as the efficacy of drug treatment, resulting in more insightful healthcare decisions and improved treatments of various kinds of cancer, gastrointestinal disorders, autoimmune diseases, and so on. The diagnosis of gastrointestinal diseases has been transformed by smart pills, which may eventually displace more traditional diagnostic methods such as endoscopy. For diagnostic purposes, an endoscopy tool is often placed into a patient's esophagus, followed by the upper and lower gastrointestinal tracts. A patient faces discomfort and pain during and after the treatment, and there is a chance of rupturing and tearing of the esophageal lining. Yet, a smart pill or wireless capsule endoscopy can be effortlessly consumed and manipulated to collect images, and it only needs to be placed in the patient's mouth once.

The built-in sensors of these pills enable the monitoring of all digestive fluids and gases, providing the doctor with a multidimensional view of the internal body of a patient. Currently, smart pills are mostly utilized in clinical studies, but their potential for nearly every area of healthcare is far wider. These pills can also be utilized to check on dementia patients' adherence to their medication regimens.

Global Smart Pills Patient Monitoring Market: Key Insights

Global Smart Pills Patient Monitoring Market Size, Forecast, and Trend Highlights Over 2023 - 2035

The global smart pills patient monitoring market is estimated to garner a revenue of ~USD 28 Billion by the end of 2035 by growing at a CAGR of ~16% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 5 Billion in the year 2022. The growth of the market can be attributed to the increasing proportion of various types of chronic disorders throughout the world. For instance, chronic diseases constitute a significant global health issue. Globally, they caused over 42 million deaths in 2019. Its proportion has increased over time, from roughly 67% of global mortality in 2010 to 78% in 2019. Apart from this, the worldwide rising patient pool of lifestyle-related diseases such as gastrointestinal reflux disease (GERD), obesity, gastric ulcers, and so on is also estimated to radically fuel the growth of the global smart pills patient monitoring market in the coming years.

In addition to these, factors that are believed to fuel the market growth of smart pills patient monitoring include the rising ratio of aged people across the globe, along with a soaring focus on patient convenience, and the worldwide expanding demand for minimally invasive procedures. For instance, worldwide, there are close to 13 million minimally invasive procedures performed each year. Additionally, a rise in technological development such as integrated circuit miniaturization, as well as surging research and development investments in developing smart pills is also predicted to present the potential for market expansion over the projected period.

Global Smart Pills Patient Monitoring Market: Growth Drivers and Challenges

Growth Drivers

• Growing Prevalence of Gastrointestinal Reflux Disease (GERD) – Gastrointestinal reflux disease (GERD) happens when stomach acid rushes back into the tube that connects the mouth and stomach. Acid reflux (backwash) can irritate the lining of the esophagus. Several individuals suffer from acid reflux periodically. Acid reflux can lead to GERD if it develops frequently over time. Thus, the surging rate of GERD is anticipated to drive the smart pills patient monitoring market during the projected time frame. For instance, gastrointestinal reflux disease (GERD), commonly known as chronic acid reflux, affects approximately 25% of the population in the United States.

• Rising Stances of Missed Medication Doses – Elderly population along with patients suffering from neurological disorders are more prone to miss their medication doses. Such stances are more common in those people who are either very old or suffering from disorders such as Alzheimer’s and dementia. Smart pills are extremely beneficial in properly monitoring the medication doses at a determined time. Therefore, such an increase in missed medication doses is estimated to further boost the market growth of smart pills patient monitoring over the projected time frame throughout the forecast period. For instance, as per a study, in the United States, approximately 40% of individuals missed numerous doses of their medications as they simply forgot to take them, while 20% neglected to update their prescriptions on time, and 10% delayed refills. Whereas, nearly 42 to 65% of mentally ill individuals have poor medication adherence and occasionally take their medicines on time.

• Worldwide Increase in Neurological Disorders – Based on a report, almost 7 million people worldwide die from neurological conditions each year.

• Rising Technological Innovation and Success Rate of Capsule Endoscopy - Endoscopy is the straight insertion of a long, thin tube into the body to examine an internal organ such as the gastrointestinal tract. Endoscopies are minimally invasive procedures that use bodily openings such as the mouth or anus. Moreover, the small bowel which is mostly an enigmatic and inaccessible portion of the GI system can now be reached with the help of next level endoscopic device such as capsule endoscopy procedures. Hence, the increasing technological innovation and success ratio of capsule endoscopy are also estimated to push the market growth further throughout the projected time frame. For instance, colon capsule endoscopy (CCE) has a high rate of success around 65% to 98% in patients who had incomplete colonoscopy owing to the intense pain, significant mesenteric redundancy, and postoperative adhesions.

• Globally Surging Prevalence of COVID-19 – As per the World Health Organization statistics, there have been 756,581,850 confirmed cases of COVID-19 worldwide as of February 2023, along with 6,844,267 mortalities.

Challenges

• High Cost of Smart Pills – Smart pills patient monitoring is quite effective yet its price is higher as compared to the conventional pills. Since the hefty price associated with these pills, hence the use of such pills by a major mass is not much possible. Thus, this factor is anticipated to lower the growth of the market in the coming years.
• Stringent Government Regulations about the Use of Smart Pills
• Technical Incompetence of Smart Pills in Some Disorders

Global Smart Pills Patient Monitoring Market Segmentation

The global smart pills patient monitoring market is segmented and analyzed for demand and supply by application into capsule endoscopy, patient monitoring, and drug delivery. Out of these three types of segments, the capsule endoscopy segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the rising traction for non-invasive procedures among people, followed by the radical boost in cases of gastrointestinal disorders such as irritable bowel syndrome, peptic ulcers, and so on throughout the world. For instance, around 5 million people worldwide suffer from peptic ulcer disease each year, with a lifelong prevalence in the general population of nearly 6–12%. Moreover, surging concern in people regarding digestive health is another significant factor that is projected to hike the segment growth over the forecast period.

The global smart pills patient monitoring market is also segmented and analyzed for demand and supply by target area into esophagus, stomach, small intestine, and large intestine. Amongst these four segments, the small intestine segment is expected to garner a significant share. The growth of the segment can be attributed to the dynamically growing ratio of small intestine diseases such as celiac disease, small bowel tumors, Crohn’s disease, and so on. For instance, according to a research study in the year 2020, the worldwide frequency of celiac disease has surged by around 7.8% each year on average over the last several years, with ladies and children being the most affected. Based on serologic tests, it has been estimated that nearly 1.6% of the world's population has celiac disease, with prevalence rates of around 0.3% in South America, 0.4% in Africa and North America, 0.6% in Asia, and 0.9% in Europe and Oceania. On the other hand, the stomach segment is projected to witness a notable CAGR during the forecast period. Smart pills aid in monitoring the passage of food through the digestive tract. Furthermore, ongoing research and development in the field of smart pill monitoring are some significant factors that are anticipated to expand the growth of the segment in the coming years.

Our in-depth analysis of the global smart pills patient monitoring market includes the following segments:

Global Smart Pills Patient Monitoring Market Regional Synopsis

The North American smart pills patient monitoring market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to the higher frequency of colorectal cancer amongst people, backed by the rise in sedentary lifestyles, and the rapidly surging ratio of geriatric populace in the region. For instance, in the United States, there were reportedly more than 1 million people living with colorectal cancer in 2022. Whereas, more than 21 million individuals who were eligible for colorectal cancer screening had not received one. Moreover, growing healthcare expenditure and increasing investment in medical research activities are further anticipated to boost the regional market growth further during the forecast period.

The Asia Pacific smart pills patient monitoring market, amongst the market in all the other regions, is projected to grow with a notable CAGR during the forecast period. The growth of the market can be attributed majorly to the improving healthcare facilities, and economic development in countries, including, China, India, Japan, and others. In addition to this, the surging occurrence of several types of gastrointestinal disorders and stomach cancer is also projected to further boost the growth of the smart pills patient monitoring market in the region. For instance, gastric cancer is relatively frequent, particularly in Asian countries such as Japan, China, Mongolia, and the Republic of Korea. China accounts for around 44% of all stomach cancer cases worldwide, whereas it is the most common type of cancer among males in Japan. Further, the expanding governmental support to initiate awareness programs regarding the various types of cancer and their screening is also anticipated to boost the market growth during the forecast period in the APAC region.