Smart Pills Drug Delivery Market by Application and Geography - Forecast and Analysis 2022-2026

The smart pills drug delivery market share is expected to increase to USD 4.69 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 18.66%. This report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.

Smart pills drug delivery market segmentation - Application (capsule endoscopy, drug delivery, and patient monitoring) and geography (North America, Europe, Asia, and Rest of World (ROW)

Smart pills drug delivery market vendors - CapsoVision Inc., Check-Cap Ltd., etectRx, General Electric Co., HQ Inc, Insulet Corp., IntroMedic Co. Ltd., Jinshan Science and Technology Group Co. Ltd., Koninklijke Philips NV, Medtronic Plc, Olympus Europa SE and Co. KG, and Otsuka Holdings Co. Ltd. among others

What will the Smart Pills Drug Delivery Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Smart Pills Drug Delivery Market Size for the Forecast Period and Other Important Statistics

 

Smart Pills Drug Delivery Market: Key Drivers, Trends, and Challenges

The rising prevalence of chronic diseases is notably driving the smart pills drug delivery market growth, although factors such as stringent regulations may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the smart pills drug delivery industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Smart Pills Drug Delivery Market Driver

One of the key factors driving the global smart pills drug delivery industry growth is the rising prevalence of chronic diseases. As the various bio-physiological factors limit the efficacy of targeted therapy for chronic diseases such as diabetes, cancer, atherosclerosis, myocardial ischemia, asthma, pulmonary tuberculosis, Parkinson's disease, and Alzheimer's disease, many new drug delivery systems are in high demand to improve drug efficacy. Non-long-acting drug delivery systems (LADDS), for example, are used to treat chronic diseases. For instance,

• Non-long-acting drug delivery systems (LADDS) treat chronic diseases.
• The technology delivers drug molecules into target tissues through systemic circulation or localized injections.

Such factors will drive the growth of the market during the forecast period.

Key Smart Pills Drug Delivery Market Trend

Increased patient preference for minimally invasive surgeries is one of the key smart pills drug delivery market trends that is expected to impact the industry positively in the forecast period. The increasing demand for minimally invasive surgical procedures led to innovative techniques such as capsule endoscopy. For instance;

• At the University of Texas Health Science Center, the deployment of various colorectal cancer screening procedures such as capsule endoscopy improves adherence to screening.

Furthermore, patients with a maximal requirement for home healthcare services face challenges concerning access and use of smart pills, which resulted in developers and producers increasing the accessibility and usability of these devices, facilitating the interpretation of data even for a layperson. These factors are expected to drive the growth of the global smart pills drug delivery market during the forecast period.

Key Smart Pills Drug Delivery Market Challenge

One of the key challenges to the global smart pills drug delivery industry growth is the stringent regulations. Safety, efficacy, pharmacological data, pharmacodynamic effects, and drug interactions are some of the key factors that are examined by the regulatory bodies. Therefore, a drug failing in these criteria is likely to receive a complete response letter or may face complete rejection from regulatory agencies. On receiving a CRL, a drug applicant is required to furnish additional data about the drug, which may require additional clinical trials and may increase the R&D expenditure of the drug. In some cases, the drug applicants withdraw their applications and discontinue their drug trials. Such factors can hamper the growth of the global smart pills drug delivery market during the forecast period.

This smart pills drug delivery market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global smart pills drug delivery market as a part of the global pharmaceuticals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the smart pills drug delivery market during the forecast period.

Who are the Major Smart Pills Drug Delivery Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• CapsoVision Inc.
• Check-Cap Ltd.
• etectRx
• General Electric Co.
• HQ Inc
• Insulet Corp.
• IntroMedic Co. Ltd.
• Jinshan Science and Technology Group Co. Ltd.
• Koninklijke Philips NV
• Medtronic Plc
• Olympus Europa SE and Co. KG
• Otsuka Holdings Co. Ltd.

 

This statistical study of the smart pills drug delivery market encompasses successful business strategies deployed by the key vendors. The smart pills drug delivery market is concentrated and the vendors are deploying growth strategies such as investment in R&D activities to compete in the market.

Product Insights and News

• CapsoVision Inc. - The company offers CapsoCam Plus capsule endoscope and CapsoRetrieve, a single-use kit provided to patients for the collection, storage, and transportation of the CapsoCam Plus capsule.
• CapsoVision Inc. - The company offers CapsoCam Plus, which provides the most comprehensive imaging available in capsule endoscopy.   

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The smart pills drug delivery market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Smart Pills Drug Delivery Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the smart pills drug delivery market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Smart Pills Drug Delivery Market?

For more insights on the market share of various regions Request for a FREE sample now!

40% of the market's growth will originate from North America during the forecast period. The US is the key market for smart pills drug delivery in North America. However, market growth in this region will be slower than the growth of the market in other regions.

The high technology penetration, increase in chronic disorders such as cancer, diabetes, and others, and surge in prevalence of lifestyle-related disorders, such as obesity, gastroesophageal reflux disease (GERD), and gastric ulcers will facilitate the smart pills drug delivery market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The smart pills drug delivery market in North America witnessed slow growth, especially in 2020, owing to the outbreak of COVID-19. Countries such as the US and Canada in North America have been severely affected by the disease. For instance, according to the data stated by the CDC, the total number of COVID-19 cases reported in the US was 79.29 million on March 31, 2022. The rise in the number of COVID-19 cases across the region compelled governments to introduce emergency lockdown, which included restrictions on several business activities. However, research institutes and healthcare facilities engaged in smart pills have started developing new smart pills products and treatments for individuals with chronic disorders. Hence, the increasing focus of research institutes and smart pills vendors on developing innovative smart pills is expected to drive the growth of the smart pills drug delivery market in North America during the forecast period.

What are the Revenue-generating Application Segments in the Smart Pills Drug Delivery Market?

To gain further insights on the market contribution of various segments Request for a FREE sample

The smart pills drug delivery market share growth by the capsule endoscopy segment will be significant during the forecast period. The ongoing improvements in the field of endoscopy and the increased demand for accurate diagnosis of gastrointestinal problems are expected to drive the growth of the market during the forecast years.

This report provides an accurate prediction of the contribution of all the segments to the growth of the smart pills drug delivery market size and actionable market insights on post COVID-19 impact on each segment.

 

Smart Pills Drug Delivery Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 18.66%
Market growth 2022-2026	$ 4.69 billion
Market structure	Concentrated
YoY growth (%)	16.97
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 40%
Key consumer countries	US, UK, Germany, France, and Japan
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	CapsoVision Inc., Check-Cap Ltd., etectRx, General Electric Co., HQ Inc, Insulet Corp., IntroMedic Co. Ltd., Jinshan Science and Technology Group Co. Ltd., Koninklijke Philips NV, Medtronic Plc, Olympus Europa SE and Co. KG, and Otsuka Holdings Co. Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Request for a FREE sample

What are the Key Data Covered in this Smart Pills Drug Delivery Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive smart pills drug delivery market growth during the next five years
• Precise estimation of the smart pills drug delivery market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the smart pills drug delivery industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of smart pills drug delivery market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch