The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s smart pills market report forecasts the smart pills market size to grow to $7.61 Billion by 2027, with a CAGR (compound annual growth rate) of more than 11%.

Learn More On The Smart Pills Market Report 2023 – https://www.thebusinessresearchcompany.com/report/smart-pills-global-market-report

Smart Pills Market Size Forecast
The global smart pills market is expected to grow from $4.48 billion in 2022 to $4.98 billion in 2023 at a compound annual growth rate (CAGR) of 11.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global smart pills market size is expected to grow to $7.61 billion in 2027 at a CAGR of 11.2%.

North America held the largest smart pills market share.

Key Smart Pills Market Driver ­– Growth In The Preference For Non-Invasive Procedures
For instance, smart pills have key applications in diagnostic imaging such as capsule endoscopy. The capsule endoscopy is a diagnostic procedure in which a smart pill (capsule enclosed micro-camera) is swallowed and images of the esophagus, stomach, and small intestine can be taken as the device pass through your gastrointestinal (GI) tract. Smart pills have revolutionized the diagnosis of gastrointestinal disorders and could replace conventional diagnostic techniques such as endoscopy. Therefore, non-invasive procedures are driving the smart pills market during the period.

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Key Smart Pills Market Trend – Adopting Extensive Research And Development
Extensive research and development are being carried out on the use of miniature chips such as Addressable Transmitters Operated as Magnetic Spins (ATOMS) which can be used as smart pills. ATOMS are silicon chip devices that use the principle of magnetic resonance imaging (MRI) to determine the location of atoms in a patient’s body using magnetic fields. ATOMS can be used in ingestible smart pills to diagnose and treat diseases from within the body. The devices can be used to monitor a patient’s gastrointestinal tract, blood, or brain. They also could measure factors that indicate the health of a patient such as pH, temperature, pressure, and sugar concentrations, and relay that information to doctors. The devices could even be instructed to release drugs. For instance, scientists at Caltech (California Institute of Technology) have developed a miniature medical chip that can be used as a smart pill.

Smart Pills Market Segment
1) By Application: Capsule Endoscopy, Patient Monitoring, Drug Delivery
2) By End User: Hospital, Diagnostic Center, Research Institute
3) By Target Area: Esophagus, Stomach, Small Intestine, Large Intestine
4) By Disease Indication: Esophageal Diseases, Colon Diseases, Small bowel Diseases, and Other Disease Indications

Smart Pills Market Major Players and Strategies
Major players in the smart pills market are Medtronic PLC., Olympus Medical Technology, CapsoVision, Inc., Novartis AG, Proteus Pharmaceuticals, Philips Healthcare, Microchips, Bio-Images Drug Delivery (BDD) Limited, Given Imaging, Inc., and Vitality.

The Smart Pills Global Market Report 2023 covers regional data on smart pills market size, smart pills market trends and drivers, opportunities, strategies, and smart pills market competitor analysis. The countries covered in the smart pills market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Smart pills are used to deliver medication and are equipped with electronic sensors that emit signals to be captured by patches or smartphones when they are swallowed. These pills ensure drug regimen compliance and help track medication adherence of patients.

View More Reports Related To The Smart Pills Market –
Smart Healthcare Products Global Market Report 2023
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