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By 2030, the size of Intelligent Pills Market will reach USD 7.7 billion. The market for intelligent pills is expanding significantly and affected by many factors in the healthcare landscape. This article discusses some of these factors that influence this market growth.
Developments in technology play a greatly significant role behind Intelligent Pills market growth. When integrated with sensors, microprocessors and connectivity, these pills provide data live about patient’s health status hence helping medical personnel diagnose and administer relevant treatment urgently. In addition to enhancing patient care through real-time monitoring, this system also facilitates remote patient management decreasing burden on health systems while at the same time ensuring quality health care provision. Technology’s integration with medicine drives market players and patients towards smart pill options as it shows that technological advancements are beneficial relative to traditional practices within medical field.
Regulation and government initiatives have a hold over the development path for intelligent pills market performance as well as sales intelligence by warning letter software usage guidelines . Governments all over the world are realizing more benefits availed by digital health technologies when it comes to improving healthcare delivery while lowering costs. There are changes being done on regulatory frameworks so they can accommodate inclusion of digital tools like smart pills into routine clinical practice across the globe. Thus entire environment is developed favorably by Regulatory authorities which creates opportunities for new entrants who can invest their resources on innovation around intelligent pill products.
This is another factor pushing for the growth of intelligent pills in the market. This kind of decision can even contribute to the reduction of side effects from medications and could lead to a more positive patient outcome. Intelligent pills are expected to play a crucial role in achieving this goal as healthcare sector moves towards personalized medical care for patients.
Moreover, growing geriatric population also acts as a driving agent of expansion for intelligent pills. Elderly people are often faced with medication adherence obstacles and monitoring of chronic conditions. Smart pills assist in such instances through automated reminders while doing constant vital signs check-ups. Such proactive health systems that go hand in hand with an increasing aged community has created an enormous demand for smart pill use so as to increase the quality standards used when serving old persons."
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | Â Â 8.6% |
Intelligent Pills Market Highlights:
Global Intelligent Pills Market Overview
The Intelligent Pills Market is projected to reach USD 7.70 Billion by 2030 at 8.6% CAGR during the forecast period 2022-2030. The intelligent/smart pills systems works on the foundation of IEM Ingestible Event Markers that can either be integrated into pills or plow into pharmaceuticals as a feature of the assembling process.
In this method the sensor will be installed in a placebo to be taken along with medicine. Many leading pharmaceutical companies hope to make this framework which will be marketed to people with chronic conditions.
Intelligent Pills Market Trends
In November 2022, Eli Lilly and Company began the rollout of its first connected platform, known as the Tempo® Personalized Diabetes Management Platform. It is a technology that aims to assist adults suffering from type 1 diabetes or type 2 diabetes, as well as clinicians, in making treatment decisions supported by data from the company on using Lilly insulins. Smart Button®, an app called TempoSmart™, and Tempo Pen® are three interrelated components that make up the platform, offering individualized guidance to adult diabetics. On September 16th, the Smart Button was given clearance by the US Food and Drug Administration Clearances. The associated app has been developed with partners like Welldoc®; it is a private-labeled version of BlueStar®, a diabetes management app adapted to receive insulin dose-related data from Tempo Smart Button.
Amazon recently held its long-awaited Devices & Services event for 2023 in September, where it launched several high-tech smart home products that were anticipated by many people. These revolutionary gadgets will be available next month, just in time for shoppers during the holiday season. For product launch, Amazon has planned for the Amazon Early Access Sale next month and the Black Friday sale, which is highly awaited in November. In addition to an impressive array of new hardware, Amazon featured significant improvements to Alexa powered by generative AI. This translates into more natural and engaging conversations with your digital assistant.
Olo introduced Smart Cross-Sells, which will enhance guest engagement and increase average order value within restaurants in April 2024. The feature supports restaurant brands with dynamic, personalized recommendations throughout ordering and checkout. Other features include Order, Pay, and Engage under Olo’s suite of products aimed at increasing orders for restaurants as well as optimizing operations. Olo's Smart Cross-Sells leverage AI to suggest intelligent orders based on factors such as order history menu options at the guest's location, time of day, and items currently in the cart.
Intelligent/smart pill systems are built around the IEM Ingestible Event Markers, which can be mixed into pills or plowed into drugs during manufacturing. In this method, a placebo will be taken with the drug and contain the sensor. Several leading pharmaceutical companies are working to create this structure, which will be made available to those with chronic illnesses. Smart pills are ingestible, capsule-sized medical gadgets with cameras, sensors, patches, and trackers that aid in more accurate diagnosis, patient monitoring, and targeted drug delivery. They often come in the shape of pills the size of vitamin capsules and have a tiny wearable sensor patch, a smartphone app, and a provider site.
After being ingested, it activates in the stomach; the sensors then offer data on the patient's health conditions and the efficacy of drug treatment, enabling better-informed medical decisions and tailored treatments. Capsule endoscopy is one of several cutting-edge procedures that have emerged due to the high demand for less invasive surgical procedures. Capsule endoscopy is anticipated to displace conventional endoscopic techniques due to benefits including simplicity of administration and thorough viewing of the gastrointestinal tract. Moreover, smart tablets have completely transformed the discipline of gastrointestinal diagnosis. Being non-invasive, smart tablets can be an effective alternative to invasive procedures like gastrointestinal endoscopy and colonoscopy.
The rise in chronic diseases like cancer, diabetes, and others, as well as the rising prevalence of lifestyle-related illnesses like weight gain, gastroesophageal reflux disease (GERD), ulcers of the stomach, and others, are the main factors driving the growth of the smart pill market. Globally, a growing number of lifestyle-related disorders, including gastrointestinal reflux diseases, gastric ulcers, and others, as well as the increasing incidence of long-term illnesses like colorectal and breast cancer, are some of the key factors predicted to fuel the demand for advanced treatment options. During the projected period, the market for smart pills is anticipated to rise as patient preferences for minimally invasive treatments for treatment shift. Increased R&D expenditures for creating smart pills also expand the market. The expensive cost of the ingestible sensors and strict government rules regarding the expanding use of these devices are the two reasons that are expected to slow the market's expansion.
News:
Three well-known smart medications, modafinil, dextroamphetamine, and methylphenidate, were the subject of a new study released in Science Advances that looked at how they affected real-world tasks. The theory put up by the researchers was that these medications, which affect norepinephrine and dopamine, would impact effort and motivation, ultimately improving performance.
Key Players for Intelligent Pills Market
Some of the key players in Intelligent Pills market are:
- CapsoVision, Inc. (US)
- Given Imaging Ltd. (Israel)
- Medimetrics (Mexico)
- (Bio-Images Drug Delivery) BDD LTD (UK)
- Proteus Digital Health (US)
Intelligent Pills Market Segment Insights
Intelligent Pills Applications Insights
Intelligent Pills market has been segmented on the basis of applications which consist of boost in sleeping disorders, capsule endoscopy, Reflux Monitoring, Mobility Monitoring, Stress Management and others.
Intelligent Pills Prescription Type Insights
By prescription type which includes prescription smart drugs and others.
News:
A new, non-invasive system has been created by a research team under the direction of Khalil Ramadi, an assistant professor of Bioengineering at NYU Abu Dhabi (NYUAD). This technology will make it easier to diagnose and treat gastrointestinal motility disorders. The researchers have created 3D magnetic field gradients utilizing high-frequency electromagnetic coils that imprint each spatial point with a unique magnetic field magnitude to follow the travel of an ingestible "smart pill" through the GI tract. The "smart pill" measures and transmits the field magnitude to pinpoint its exact location and is then relayed via Bluetooth to a smartphone.
Intelligent Pills Regional Insights
Americas
- North America
- US
- Canada
- Latin America
Europe
- Western Europe
- Germany
- France
- Italy
- Spain
- U.K
- Rest of Western Europe
- Eastern Europe
Asia– Pacific
- Asia
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
The Middle East& Africa
The report for Intelligent Pills market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different markets segments and regions.
Study Objectives of Intelligent Pills Market:
- To provide detailed analysis of the market structure along with forecast for the next 10 years of the various segments and sub-segments of the Intelligent Pills Market
- To provide insights about factors affecting the market growth
- To Analyze the Intelligent Pills Market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
- To provide historical and forecast revenue of the Intelligent Pills market segments and sub-segments with respect to four main geographies and their countries- Americas, Europe, Asia, and RoW
- To provide country level analysis of the Intelligent Pills market with respect to the current market size and future prospective
- To provide country level analysis of the Intelligent Pills market for segments by application, by prescription type and sub-segments.
- To provide strategic profiling of key players in the Intelligent Pills market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the Intelligent Pills market
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Intelligent Pills Market
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