Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Smart pills are small embedded electronic devices, which include sensors, cameras, patches and trackers. These electronic devices can easily be swallowed and it provides complete evaluation of the gastrointestinal tract.

The global ingestible smart pills market is estimated to account for US$ 1,175.4 Mn in terms of value and is expected to reach US$ 1,734.3 Mn by the end of 2027.

Global Ingestible Smart Pills Market: Drivers

Increasing prevalence of gastrointestinal diseases is expected to propel growth of the global ingestible smart pills market over the forecast period. For instance, according to the study, ‘Worldwide incidence and prevalence of inflammatory bowel disease in the 21st century: a systematic review of population-based studies’, published in the journal Lancet in 2018, the prevalence of Crohn's disease in Germany was 22 per 100,000 and 319 per 100,000 in Canada.

Moreover, several benefits of ingestible smart pills are also expected to aid in growth of the market. For instance, according to a paper in the November 2019 issue of the Journal of Managed Care & Specialty Pharmacy, AdhereTech’s smart pill bottle platform improved adherence and patient satisfaction among a small sample of multiple myeloma patients.

Statistics:

Smart pills held dominant position in the global ingestible smart pills market in 2019, accounting for 81.7% share in terms of value, followed by workstation, respectively.

Figure 1. Global Ingestible Smart Pills Market Share (%), by Value, by Treatment Type, 2019

Ingestible Smart Pills  | Coherent Market Insights

Global Ingestible Smart Pills Market: Restraints

Several players in the market are failing to attract investors, which is expected to hinder growth of the global ingestible smart pills market. For instance, in June 2020, Proteus Digital Health, Inc. filed for bankruptcy protection. In 2019, Proteus Digital Health, Inc. faced cash crunch and the company furloughed the majority of its employees for about two weeks in November 2019.

Moreover, high costs involved in R&D of ingestible smart pills is also expected to limit the market growth. The ingestible smart pills market is multidisciplinary and requires domain experts from various disciplines of science such as biochemists, biologists, microbiologists, immunologists, medical scientists and electronic engineers. It requires a consolidated effort between all these varied disciplines to develop sensors for particular applications. Additionally, prolonged R&D timelines with the inclusion of clinical trials required to test these sensor-embedded device adds up to significant expenditure.

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Ingestible Smart Pills Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 1,111.8 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 5.7% 2027 Value Projection: US$ 1,734.3 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, Rest of Middle East
  • Africa: South Africa, North Africa, Central Africa
Segments covered:
  • By Component:
    • Smart Pills: Patient Monitoring.
      • Capsule Endoscopy: Small Bowel Endoscopy, Esophagus Endoscopy, Colon Endoscopy.
    • Workstation
  • By Application: Imaging, Monitoring.
  • By End User: Hospitals, Clinics, Research Institutes, Home Healthcare.
Companies covered:

BodyCap Medical, Given Imaging Ltd., Olympus Corporation, Proteus Digital Health, Inc., CapsoVision, Inc., Chongqing Jinshan Science and Component (Group) Co., Ltd., Medimetrics, IntroMedic Co., Ltd., Check-Cap Ltd., Boston Scientific Corporation, HQ Inc., Smart Pill Inc., Medtronic plc, Philips Healthcare, etectRx, Inc., Novartis, Siemens Healthcare, Pentax Medical Company (HOYA Corporation), GE Healthcare, and Stryker Corporation.

Growth Drivers:
  • Increasing prevalence of gastrointestinal diseases
  • Several benefits of ingestible smart pills
Restraints & Challenges:
  • High costs involved in R&D of ingestible smart pills

Global Ingestible Smart Pills Market: Opportunities 

The Covid-19 outbreak is expected to boost demand for digital medicine, thereby offering lucrative growth opportunities for players in the global ingestible smart pills market. For instance, in May 2020, Proteus Digital Health, Inc. announced a multi-year, outcomes-based initiative with the state of Tennessee’s Medicaid program, TennCare, in order to support TennCare-covered patients undergoing Hepatitis C treatment to achieve a cure through improved medication adherence and stronger connections to their care teams.

Moreover, increasing prevalence of chronic disorders is expected to boost demand for ingestible smart pills market. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.

The global ingestible smart pills market was valued at US$ 1,111.8 Mn in 2019 and is forecast to reach a value of US$ 1,734.3 Mn by 2027 at a CAGR of 5.7% between 2020 and 2027.

Figure 2. Global Ingestible Smart Pills Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027

Ingestible Smart Pills  | Coherent Market Insights

Market Trends/Key Takeaways

High prevalence for needle fear is expected to propel growth of the global ingestible smart pills market over the forecast period. For instance, according to the study, ‘The fear of needles: A systematic review and meta-analysis,’ published in the Journal of Advanced Nursing in January 2019, the prevalence for needle fear ranged from 20-50% in adolescents and 20-30% in young adults.

Major players in the global ingestible smart pills market are focused on adopting collaboration and partnership strategies to expand their product portfolio. For instance, in July 2020, HOYA Corporation and Hitachi, Ltd. announced a five year contract regarding Endoscopic Ultrasound Systems by which Hitachi will continue supplying diagnostic ultrasound systems and ultrasound sensor related parts used in Endoscopic Ultrasound Systems.

Global Ingestible Smart Pills Market: Competitive Landscape

Major players operating in the global ingestible smart pills market include, BodyCap Medical, Given Imaging Ltd., Olympus Corporation, Proteus Digital Health, Inc., CapsoVision, Inc., Chongqing Jinshan Science and Component (Group) Co., Ltd., Medimetrics, IntroMedic Co., Ltd., Check-Cap Ltd., Boston Scientific Corporation, HQ Inc., Smart Pill Inc., Medtronic plc, Philips Healthcare, etectRx, Inc., Novartis, Siemens Healthcare, Pentax Medical Company (HOYA Corporation), GE Healthcare, and Stryker Corporation.

Global Ingestible Smart Pills Market: Key Developments

Major players in the global ingestible smart pills market are focused on approval and launch of new products to expand their product portfolio. For instance, in December 2019, etectRx, Inc. received the U.S. Food and Drug Administration (FDA) approval for its breakthrough patented ingestible event marker, the ID-Cap System.

Smart pills are small embedded electronic devices, which include sensors, cameras, patches and trackers. These pills are capable of providing complete diagnostic evaluation of the gastrointestinal tract when swallowed. There are several advantages of smart pills such as it enables noninvasive diagnosis of diseases, and patient adherence and satisfaction.

Restraints of the Global Ingestible Smart Pills Market

Major factors hampering the growth of the ingestible smart pills market during the forecast period constitutes of limited studies on efficacy comparison of treating agents, and challenging manufacturing process.

Key features of the study:

  • This report provides in-depth analysis of the global ingestible smart pills market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2019–2027), considering 2018, as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global ingestible smart pills market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include BodyCap Medical, Given Imaging Ltd., Olympus Corporation, Proteus Digital Health, Inc., CapsoVision, Inc., Chongqing Jinshan Science and Component (Group) Co., Ltd., Medimetrics, IntroMedic Co., Ltd., Check-Cap Ltd., Boston Scientific Corporation, HQ Inc., Smart Pill Inc., Medtronic plc, Philips Healthcare, etectRx, Inc., Novartis, Siemens Healthcare, Pentax Medical Company (HOYA Corporation), GE Healthcare, and Stryker Corporation.
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global ingestible smart pills market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the market.

Detailed Segmentation

  • Global Ingestible Smart Pills Market, By Component:
    • Smart Pills
      • Patient Monitoring
      • Capsule Endoscopy
        • Small Bowel Endoscopy
        • Esophagus Endoscopy
        • Colon Endoscopy
      • Workstation
  • Global Ingestible Smart Pills Market, By Application:
    • Imaging
    • Monitoring
  • Global Ingestible Smart Pills Market, By End User:
    • Hospitals
    • Clinics
    • Research Institutes
    • Home Healthcare
  • Global Ingestible Smart Pills Market, By Geography:
    • North America
      • By Component
        • Smart Pills
          • Patient Monitoring
          • Capsule Endoscopy
            • Small Bowel Endoscopy
            • Esophagus Endoscopy
            • Colon Endoscopy
          • Workstation
      • By Application
        • Imaging
        • Monitoring
      • By End User
        • Hospitals
        • Clinics
        • Research Institutes
        • Home Healthcare
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Component
        • Smart Pills
          • Patient Monitoring
          • Capsule Endoscopy
            • Small Bowel Endoscopy
            • Esophagus Endoscopy
            • Colon Endoscopy
          • Workstation
      • By Application
        • Imaging
        • Monitoring
      • By End User
        • Hospitals
        • Clinics
        • Research Institutes
        • Home Healthcare
      • By Country:
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Component
        • Smart Pills
          • Patient Monitoring
          • Capsule Endoscopy
            • Small Bowel Endoscopy
            • Esophagus Endoscopy
            • Colon Endoscopy
          • Workstation
      • By Application
        • Imaging
        • Monitoring
      • By End User
        • Hospitals
        • Clinics
        • Research Institutes
        • Home Healthcare
      • By Country:
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • By Component
        • Smart Pills
          • Patient Monitoring
          • Capsule Endoscopy
            • Small Bowel Endoscopy
            • Esophagus Endoscopy
            • Colon Endoscopy
          • Workstation
      • By Application
        • Imaging
        • Monitoring
      • By End User
        • Hospitals
        • Clinics
        • Research Institutes
        • Home Healthcare
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East:
      • By Component
        • Smart Pills
          • Patient Monitoring
          • Capsule Endoscopy
            • Small Bowel Endoscopy
            • Esophagus Endoscopy
            • Colon Endoscopy
          • Workstation
      • By Application
        • Imaging
        • Monitoring
      • By End User
        • Hospitals
        • Clinics
        • Research Institutes
        • Home Healthcare
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Component
        • Smart Pills
          • Patient Monitoring
          • Capsule Endoscopy
            • Small Bowel Endoscopy
            • Esophagus Endoscopy
            • Colon Endoscopy
          • Workstation
      • By Application
        • Imaging
        • Monitoring
      • By End User
        • Hospitals
        • Clinics
        • Research Institutes
        • Home Healthcare
      • By Country/Region:
        • Central Africa
        • South Africa
        • North Africa
  • Company Profiles
    • BodyCap Medical*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
    • Given Imaging Ltd.
    • Olympus Corporation
    • Proteus Digital Health, Inc.
    • CapsoVision, Inc.
    • Chongqing Jinshan Science and Component (Group) Co., Ltd.
    • Medimetrics
    • IntroMedic Co., Ltd.
    • Check-Cap Ltd.
    • Boston Scientific Corporation
    • HQ Inc.
    • Other Major Players

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Component
      • Market Snippet, By Application
      • Market Snippet, By End User
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Developments
    • Regulatory Scenario
    • PEST Analysis
    • COVID-19 Impact Analysis
  4. Global Ingestible Smart Pills Market, By Component, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
    • Smart Pills
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
      • Segment Trends
        • Patient Monitoring
        • Capsule Endoscopy
          • Small Bowel Endoscopy
          • Esophagus Endoscopy
          • Colon Endoscopy
    • Workstation
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
      • Segment Trends
  5. Global Ingestible Smart Pills Market, By Application, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
    • Imaging
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Monitoring
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  6. Global Ingestible Smart Pills Market, By End User, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Clinics
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Research Institutes
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Home Healthcare
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  7. Global Ingestible Smart Pills Market, By Regions, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
    • North America
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • U.S.
        • Canada
    • Europe
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • North Africa
        • Central Africa
        • South Africa
  8. Competitive Landscape
    • Company Profiles
      • BodyCap Medical
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Given Imaging Ltd.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Olympus Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Proteus Digital Health, Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • CapsoVision, Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Chongqing Jinshan Science and Component (Group) Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Medimetrics
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • IntroMedic Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Check-Cap Ltd.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Boston Scientific Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • HQ Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 32 market data tables and 23 figures on “Ingestible Smart Pills Market – Global forecast to 2027.

Frequently Asked Questions

The global ingestible smart pills market was valued at US$ 1,111.8 Mn in 2019 and is forecast to reach a value of US$ 1,734.3 Mn by 2027 at a CAGR of 5.7% between 2020 and 2027.
Major factor driving the growth of global ingestible smart pills market during the forecast period include increasing prevalence of gastrointestinal diseases, and several benefits of ingestible smart pills.
Major factors hampering the growth of the ingestible smart pills market during the forecast period constitutes of high costs involved in R&D of ingestible smart pills.
Smart pills held dominant position in the global ingestible smart pills market in 2019.
North America Ingestible Smart Pills market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are BodyCap Medical, Given Imaging Ltd., Olympus Corporation, Proteus Digital Health, Inc., CapsoVision, Inc., Chongqing Jinshan Science and Component (Group) Co., Ltd., Medimetrics, IntroMedic Co., Ltd., Check-Cap Ltd., Boston Scientific Corporation, HQ Inc., Smart Pill Inc., Medtronic plc, Philips Healthcare, etectRx, Inc., Novartis, Siemens Healthcare, Pentax Medical Company (HOYA Corporation), GE Healthcare, and Stryker Corporation.
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