There is a surge in demand for drug delivery systems with fundamental benefits, such as minimal side/adverse effects, targeted drug delivery, optimal use of API, and reduced dosage frequency. This has further resulted in integrating innovative drugs, advanced technologies, and medical devices into drug delivery systems to develop smart pills. People suffering from chronic diseases who need a specific dose of medication are likely to target the patient base for smart pills. The companies have offered various promotional activities, such as product launches, investments, and acquisitions. For instance, in 2019, Otsuka (Proteus) launched smart chemotherapy pills to improve cancer patients' outcomes. In 2019, Stanley Black & Decker and Pillo Health launched a pill-dispensing robot companion. It has been designed to help patients with chronic conditions maintain their medication schedule and health with the help of a built-in voice assistant to communicate with caregivers and patients. Smart pills technologies provide revolutionary advancements for life science research applications. Thus, the increasing demand for drug delivery systems in emerging economies is likely to fuel the growth of the smart pills market during the forecast period.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the smart pills market. Asia Pacific smart pills market is expected to grow at a good CAGR during the forecast period.
The Asia Pacific smart pills market is segmented based on application, disease indication, and end user.Based on application, the market is segmented into capsule endoscopy, drug delivery, and patient monitoring. The capsule endoscopy segment is sub segmented into small bowel video capsule endoscopy, colon capsule endoscopy, controllable capsule endoscopy, storable capsule endoscopy, and other capsule endoscopy. Based on disease indication, the market is segmented into gastrointestinal diseases, neurological disorders, cancer, inherited disorders, and other disease indications. Based on end user, the market is segmented into hospitals and clinics, research institutes, and home healthcare. By Country, the Asia Pacific smart pills market is segmented into Japan, China, India, South Korea, Australia, and the Rest of APAC.
Medtronic; PENTAX Medical; Olympus Corporation; Otsuka Holdings Co., Ltd.; IntroMedic Co., Ltd; JINSHAN Science & Technology; and RF Co., Ltd are among the leading companies in the Asia Pacific smart pills market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 488.75 Million |
| Market Size by 2028 | US$ 1,156.22 Million |
| CAGR (2021 - 2028) | 13.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Application
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
1. Medtronic
2. PENTAX Medical
3. Olympus Corporation
4. Otsuka Holdings Co., Ltd.
5. IntroMedic Co., Ltd
6. JINSHAN Science & Technology
7. RF Co., Ltd
The Asia Pacific Smart Pills Market is valued at US$ 488.75 Million in 2021, it is projected to reach US$ 1,156.22 Million by 2028.
As per our report Asia Pacific Smart Pills Market, the market size is valued at US$ 488.75 Million in 2021, projecting it to reach US$ 1,156.22 Million by 2028. This translates to a CAGR of approximately 13.1% during the forecast period.
The Asia Pacific Smart Pills Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Smart Pills Market report:
The Asia Pacific Smart Pills Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Smart Pills Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Smart Pills Market value chain can benefit from the information contained in a comprehensive market report.
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