Diabetes and cardiovascular disease increase fuel demand.
According to ResearchAndMarkets.com, the global smart pill market will grow from $5.07b in 2024 to $15.05B in 2033, with a CAGR of 12.85%, driven by advances in medical technology and increased demand for non-invasive diagnosis.
Smart pills or considerable sensors combine microelectronics with drugs to track drug delivery, monitor gastrointestinal conditions and manage chronic diseases.
Advances in microelectronics and wireless connectivity have driven the market, making smart pills more efficient and easy to use.
Increased diabetes, cardiovascular and gastrointestinal diseases, and aging populations are driving the need for these non-invasive, data-driven solutions.
Despite strong growth prospects, smart pill adoption still faces challenges, including high development and manufacturing costs. The use of sensors, microchips and wireless components makes these pills much more expensive than traditional treatments, limiting their accessibility, especially in low-income markets.
Strict regulatory approval process and privacy concerns on patient data have been further adopted.
Despite the ongoing cost and regulatory barriers, continued technological advancements and rising investment in digital health care are expected to drive the smart pill market.
