[192 Pages Report] The Smart Drugs & Pills Market size was estimated at USD 8.28 billion in 2023 and expected to reach USD 10.18 billion in 2024, at a CAGR 24.18% to reach USD 37.71 billion by 2030.
Smart drugs & pills equipped with biosensors, images, pH, or chemical sensors help to perform highly advanced functions such as sensing, imaging, and drug delivery. Smart drugs & pills with a small wearable sensor patch travel along the gastrointestinal tract to capture images. The growing incidence of chronic diseases and patients’ preference toward minimally invasive procedures for treatment is driving the adoption of smart drugs & pills. Certain benefits offered by smart drugs & pills, such as advanced capsule endoscopy, targeted drug delivery, and easy remote patient monitoring, result in the increasing adoption of smart pills in treating patients with gastrointestinal diseases or cancer. However, the high cost associated with smart drugs & pills, along with inadequate reimbursement policies in emerging countries to offer full coverage to patients, restricts the growth of the smart pills market. The ongoing investment in R&D by market players to introduce small drugs & pills that can be used in the diagnosis and treatment of new disease conditions is expected to create opportunities for market growth.
Regional Insights
Increased focus on providing value-based care to patients and the rise in medication errors caused by human interaction in the distribution of specialty drugs in the United States is growing the need for smart drugs & pills in the Americas. As per the National Library of Medicine, in July 2022, around 7,000 to 9,000 people in the United States alone were deceased owing to medication error. The increasing development of smart drugs & pill facilities in the United States is expected to drive the growth of the market. In March 2022, AccelmedPartners led USD 40 million investment in MedMinder Systems Inc., the leading fully-integrated, end-to-end pharmacy, medication adherence, and connected care solution for elderly and polypharmacy patients. The growing awareness about the incidences of chronic diseases such as cancer, Alzheimer, gastrointestinal reflux diseases (GERD), and gastric ulcers in India, China, Japan, and Australia is expected to offer the potential for smart drugs & pills market in Asia-Pacific. However, South America and the Middle East are witnessing moderate growth due to developing healthcare infrastructure and inadequate availability of reimbursement policies to offer assistance to patients to adopt smart drugs & pills.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Smart Drugs & Pills Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Smart Drugs & Pills Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Smart Drugs & Pills Market, highlighting leading vendors and their innovative profiles. These include Aardex Group, AnX Robotica Corp., CapsoVision, Inc., Check-Cap Ltd., GE Healthcare, IntroMedic Co., Ltd., Jinshan Science & Technology (Group) Co., Ltd., Koninklijke Philips NV, Medtronic PLC, Novartis AG, Olympus Corporation, and RF Co., Ltd..
Market Segmentation & Coverage
This research report categorizes the Smart Drugs & Pills Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Target Area
- Esophagus
- Large Intestine
- Small Intestine
- Stomach
- Type
- Over-the-Counter Nootropics
- Caffeine
- Creatine
- L-theanine
- Omega-3 fatty acids
- Racetams
- Prescription Nootropics
- Over-the-Counter Nootropics
- End User
- Diagnostic Centers
- Hospitals
- Research Institutes
- Application
- Capsule Endoscopy
- Drug Delivery
- Patient Monitoring
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Smart Drugs & Pills Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Smart Drugs & Pills Market?
- What are the technology trends and regulatory frameworks in the Smart Drugs & Pills Market?
- What is the market share of the leading vendors in the Smart Drugs & Pills Market?
- Which modes and strategic moves are suitable for entering the Smart Drugs & Pills Market?
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