Summary: Global smart pills market to exceed $4.9 billion by 2032, driven by technological advancements and healthcare needs.
From GlobeNewswire: 2024-12-17 08:01:00
The Smart Pills Market was valued at USD 1.5 billion in 2023, projected to reach USD 4.9 billion by 2032 with a CAGR of 14.0%. Technological advancements and healthcare needs are driving growth, with smart pills aiding in non-invasive diagnostics. Regulatory approvals and increasing clinical trials indicate a promising future for smart pill technologies.
Smart healthcare technologies, including smart pills, could reduce global healthcare costs by 20% by 2030, saving around $5 trillion annually. The convenience and reliability of smart pill technologies are appealing to patients, with gastroenterologists incorporating them for improved outcomes. The global demand for non-invasive diagnostic methods is escalating, with smart pills playing a crucial role in enhancing patient care.
Capsule endoscopy holds a significant share in the smart pills market, benefiting from its minimally invasive nature and high-definition cameras for early disease detection. Celiac disease is driving smart pill adoption due to rising gluten intolerance awareness, with targeted drug delivery and real-time monitoring improving disease management. The market is witnessing a surge in demand for smart pills tailored to specific disease indications and applications.
North America leads the smart pills market, capturing 38% of revenue in 2023, supported by robust healthcare infrastructure and government initiatives. Asia-Pacific is the fastest-growing market, fueled by healthcare infrastructure advancements and increasing healthcare spending, particularly in countries like China and India. The future of smart pills looks promising with increasing investments and regulatory approvals driving market expansion. Medtronic launches next-gen smart pill in April 2024 with improved AI imaging for gastrointestinal disorders. AnX Robotica introduces NaviCam Small Bowel System in 2023 in the U.S. for small bowel disease diagnosis. Detailed market analysis and outlook available for purchase. SNS Insider offers various buying options for market reports. Leading global market research agency providing accurate data and insights for confident decision-making.
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