Rising Demand for Minimally Invasive Surgical Procedures to Drive Global Smart Pills Market

According to our new research study on "Smart Pills Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Application, Disease Indication, and End User," the smart pills market is expected to grow from US$ 4,019.30 million in 2021 to US$ US$ 9,061.29 million by 2028; it is estimated to grow at a CAGR of 12.3% from 2021 to 2028. Factors driving the smart pills market's growth are the increase in strategic collaborations & partnerships on smart pills, and rising demand for minimally invasive surgical procedures. However, the high cost of smart pills hampers the smart pills market growth.

The increasing demand for minimally invasive surgical procedures led to innovative techniques, such as capsule endoscopy. Capsule endoscopy is expected to replace traditional endoscopy methods due to its advantages, including ease of administration and detailed observation of the gastrointestinal tract. The capsule endoscopy plays a vital role in the early diagnosis and proper treatment of these disorders, along with hybrid imaging technologies and new component innovations. For instance, as per the University of Texas Health Science Center, the deployment of various colorectal cancer screening procedures, such as capsule endoscopy, improves adherence to screening. The university conducted a study comprising haphazardly assigned patients aged between 50 and 75 and inferred that capsule endoscopy gives better diagnostic results than CT colonography. Such findings are boosting the segment growth. Therefore, increasing demand for a minimally invasive surgical procedure is driving the growth of the smart pills market.

CapsoVision, Inc.; Medtronic.; Check-Cap; PENTAX Medical; Olympus Corporation; BodyCap.; Otsuka America Pharmaceutical, Inc.; IntroMedic; Jinshan Science & Technology (Group) Co., Ltd.; and RF Co., Ltd. are a few leading companies operating in the smart pills market.

Based on application, the smart pills market is segmented into capsule endoscopy, drug delivery, and patient monitoring. Based on disease indication, the market is segmented into gastrointestinal diseases, neurological disorders, cancer, inherited disorders, and other disease indications. Based on end user, the smart pills market is segmented into hospitals and clinics, research institutes, and home healthcare. By geography, the smart pills market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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