Global Smart Pills Market is valued at approximately USD 3.56 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 14.5 % over the forecast period 2021-2027. Smart pills are capsule-sized ingestible medical devices consisting of elements such as sensors, cameras, patches, and trackers that help in better diagnostics, patient monitoring, as well as targeted drug delivery. They are majorly available in the form of a vitamin capsule-sized pill and possess a small wearable sensor patch, an application on a mobile device, and a provider portal. The less complex and painful diagnostic examinations, increasing geriatric population and urbanization have led to the adoption of Smart Pills across the forecast period. For Instance: AS per Our world article By 2050 it's projected that more than two-thirds of the world population will live in urban areas.
It's projected that close to 7 billion people will live in urban areas in 2050. Also, with the increase in technological advancements, the adoption & demand for Smart Pills is likely to increase the market growth during the forecast period. However, higher costs associated with the smart pills impedes the growth of the market over the forecast period of 2021-2027.

The key regions considered for the global Smart Pills market study include Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading region across the world in terms of market share owing to the rise in Crohn's disease, celiac disease, and small bowel tumors. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027. Factors such as rising disposable income and improving healthcare infrastructure would create lucrative growth prospects for the Smart Pills market across Asia-Pacific region.

Major market players included in this report are:
Bio-Images Drug Delivery (BDD) Limited
Proteus Digital Health
CapsoVision, Inc.
Medtronic Plc.
Olympus Corporation
IntroMedic Co., Ltd
RF Co., Ltd
JINSHAN Science & Technology
Check-Cap
Koninklijke Philips N.V.
GE Healthcare
NOVARTIS AG
Fujifilm Holdings Corporation

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Application:
Capsule Endoscopy
Drug Delivery
Patient Monitoring
By End Use:
Hospital
Diagnostic Centere
Research Institute
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Smart Pills Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Companies Mentioned

Bio-Images Drug Delivery (BDD) Limited
Proteus Digital Health
CapsoVision, Inc.
Medtronic Plc.
Olympus Corporation
IntroMedic Co., Ltd
RF Co., Ltd
JINSHAN Science & Technology
Check-Cap
Koninklijke Philips N.V.
GE Healthcare
NOVARTIS AG
Fujifilm Holdings Corporation