South & Central America Smart Pills Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Application (Capsule Endoscopy, Drug Delivery, and Patient Monitoring), Disease Indication (Gastrointestinal Diseases, Neurological Disorders, Cancer, Inherited Disorders, and Other Disease Indications), and End User (Hospitals and Clinics, Research Institutes, and Home Healthcare)

The South & Central America smart pills market is expected to reach US$ 322.58 million by 2028 from US$ 170.82 million in 2021. The market is estimated to grow at a CAGR of 9.5% from 2021 to 2028.

The miniaturization of electronic components has been pivotal to smart pill design. As cloud computing and wireless communication programs are combined into the healthcare system, the use of smart pills to monitor vital signs and medication compliance is likely to increase. In the future, smart pills are anticipated to be an integral component of remote patient monitoring and telemedicine. Smart pills will become mainstream devices as the demand for noninvasive point-of-care testing increases. Developments in battery technology (providing longer life) and onboard memory make them useful for long-term sensing from within the body. This type of multi-dimensional performance cannot be achieved with traditional oral drug forms. Smart pills have transformed the diagnosis of gastrointestinal disorders and are expected to replace conventional diagnostic techniques, such as endoscopy. Smart pills are also used to deliver insulin, which is customized to the patient’s current blood sugar level and delivered on demand. Increased research and development activities in this field are anticipated to drive the smart pill market. In 2019, the Massachusetts Institute of Technology (MIT) researchers developed a smart pill called SOMA—a self-orienting millimeter-scale applicator—containing the same type of insulin used in conventional kits. The pill consists of a capsule and a tiny needle made from freeze-dried insulin.

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. The South & Central America smart pills market is expected to grow at a good CAGR during the forecast period.

 South & Central America Smart Pills Market Revenue and Forecast to 2028 (US$ Million)

South & Central America Smart Pills Market Segmentation        

The South & Central America 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 South & Central America smart pills market is segmented into Brazil, Argentina, and the Rest of South & Central America.

South & Central America Smart Pills Market – Companies Mentioned

Medtronic; PENTAX Medical; Olympus Corporation; and Otsuka Holdings Co., Ltd. are among the leading companies in the South & Central America smart pills market.

1. Medtronic                                                                          
2. PENTAX Medical                                                              
3. Olympus Corporation                                                    
4. Otsuka Holdings Co., Ltd                                            

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