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Smart Pills Technology Market Size is expected to foresee lucrative growth from 2022 to 2028. Smart pills are miniature electronic devices that are designed and shaped in the mold of pharmaceutical capsules. They perform extremely advanced functions like imaging, sensing, and drug delivery and include chemical, pH, or image sensors. These pills travel along the gastrointestinal tract for capturing information that is otherwise difficult to procure and can be easily eliminated through the system.
On the basis of technology, the capsule endoscopy segment is expected to record appreciable gains in the smart pills technology market through 2028. This rise is mainly credited to an increase in research activities by various organizations.
For instance, according to the University of Texas Health Science Center, the deployment of numerous colorectal cancer screening methods such as capsule endoscopy enhances the adherence of screening. The university conducted a study comprising randomly assigned patients aged between 50 and 75 years and inferred that capsule endoscopy yields better diagnostic results when compared with CT colonography. Such findings are estimated to propel the segment growth over the forecast period.
Based on type of disease, the small pills technology market is anticipated to depict considerable growth from the Crohn’s disease segment up to 2028. This rise is due to an upsurge in the publishing of studies that advocate the use of smart pills for disease treatment. For instance, in January 2021, SmartTab published its “Advancing High Tech Drug Delivery Systems for the Treatment of Crohn’s Disease” in the IBD (Inflammatory Bowel Diseases) Journal. The company’s capsule technology makes use of radio frequency (RF) signaling for triggering an optimal release of the pharmaceutical contents to the specified regions of the GI tract.
By region, the North America smart pills technology market is estimated to register commendable proceeds through the analysis period. This growth is driven by increasing advancements in the field of ingestible electronics by medical researchers. Several regulators in the region including the U.S. FDA have been formulating guidelines for securing approvals for digital smart pills. Such steps are expected to propel regional growth over the estimated span.
Major players across the smart pills technology market include Novartis AG, Boston Scientific Corporation, Pixie Scientific, GE Healthcare, Proteus Pharmaceuticals, Microchips, Vitality, Given Imaging Ltd., Olympus Medical Technology, and others. These companies are focused on the adoption of various strategies such as acquisitions, mergers, collaborations, partnerships, and product developments for consolidating their position in the smart pills technology market.
For instance, in January 2021, etectRx, Inc., entered into a partnership agreement with Pear Therapeutics, Inc., for the development of two product candidates in the CNS space integrating adherence sensors and PDTs (Prescription Digital Therapeutics). The partnership is the first of its kind in exploring the usage of digital pill solutions with PDTs.
The COVID-19 pandemic led to an increase in smart pill tests and innovations owing to the constant endeavor of industry players towards developing products that could help in combating the disease. For instance, in November 2021, the U.K. approved a potentially game-changing SARS-CoV-2 antiviral pill in efforts to fight the pandemic. The drug molnupiravir was recommended by Britain’s MHRA (Medicines and Healthcare products Regulatory Agency) for usage in people having mild to moderate COVID and at least one risk factor for the development of severe illness, like heart disease, older age diabetes, and obesity.
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