Global Market Size, Forecast, and Trend Highlights Over 2024-2036
Smart Pills Patient Monitoring Market size was over USD 5.8 Billion in 2023 and is expected to exceed USD 39.46 Billion by the end of 2036, witnessing over 15.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of smart pills patient monitoring is evaluated at USD 6.63 Billion. 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.
