Intelligent Pills/ Smart Pills further to its invention in 2012 have evolved with technology in the pharmaceutical field solving problems that have overwhelmed the healthcare industry for decades and improving overall therapeutic effectiveness. Tiny ingestible sensors in Intelligent Pills using Bluetooth, established communication with an adhesive pad patients wearing on their chests the real-time data is then shared on associated Smartphone app that passes the readings to doctors, family members and caretakers alike. This ultimately helps in dealing with the medication adherence issues that further lead to many health problems worldwide, that restricting the therapeutic effectiveness of medicines which account for a substantial amount of money causing unnecessarily increasing span of treatment. Due to this tremendous efficacy Intelligent Pills are increasingly gaining popularity consecutively its market value is ascending pervasively on the global platform further opening galore opportunities for the healthcare sector to evolve and grow.
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Accrediting the sedulous work of the key players & researchers, bringing novelties in Intelligent Pills and helping its market to gain increasing traction and grow widely, the Market Research Future has recently published a meticulous study report, giving out the complete market prognosis up to 2027. According to which, the Global Intelligent Pills Market is expected to grow further continuing with the same trend over the forecast period. The market is forecasted to demonstrate a spectacular growth by 2027, surpassing its previous growth records in terms of value.
Factors that predominantly drive the Intelligent Pills market growth include rising awareness about Intelligent Pills among the patients and doctors alike. Additionally, Presence of large number of geriatric population that needs timely medication but tend to forget at times is anticipated to fuel the market growth of Intelligent Pills. Schizophrenia patients & patients with mental disorders, who are incapable to keep a log of their medications or tend to be reckless towards or sometimes even deny medications completely, this worsens the scenario. Such patients actually need intensive care & regularities of medication and their caregivers are overwhelmed by trying to manage the gamut and desperately wish for having some alternative method and assistance for recording the readings. In such cases Intelligent Pills are reliably helping their care givers & family members to keep a tab on patients’ medications. Therefore, increasing number of Schizophrenia patients & patients with mental disorders is expected to provide extensive impetus to the Intelligent Pills market growth owing to the reliable assistance it provides.
On other hand lack of awareness towards befits of Intelligent Pills coupled with the scepticism of physicians are posing challenges to the Intelligent Pills market growth. The high manufacturing cost and complexity of production, along with the unclear regulatory policies in many countries are expected to pose as major constraints for the global Intelligent Pills market during the forecast period. Alternatively, technological advancements coupled with growing number of pharma companies that can manufacture Intelligent Pills on a high production rate is expected to bring the production cost down, this factor is expected to escalate the Intelligent Pills market growth to the next level during the forecasted period.
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Intelligent Pills Global Market – Competitive Analysis
The Global Intelligent Pills Market is driven by some of the prominent players including CapsoVision, Inc. (US), Given Imaging Ltd. (Israle), Medimetrics (Mexico), (Bio-Images Drug Delivery) BDD LTD (UK), and Proteus Digital Health (US) among others. Acknowledging, the sedulous work of these key players, MRFR profiles them in its market analysis.
The global market of Intelligent Pills appears to be moderately competitive and consolidated with the limited number of key players operating in the market with the presence of several well-established and small players. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market. Top players are investing heavily in R&D and clinical trials to develop effective Intelligent Pills.
Industry/Innovation/ Related News:
November 14, 2017 – The Food and Drug Administration approved the Intelligent Pill called Ability, or medication with a sensor. Japanese drug maker Otsuka Pharmaceutical won the approval for ‘ Ability’, prescribed to adults for bipolar disorder, schizophrenia mania and some forms of depression.
September 12, 2017 – Researchers at Caltech (US) presented their study foe the prototype miniature medical device that they have developed which could ultimately be used in “smart pills” to diagnose and treat diseases. A key to the new technology—and what makes it unique among other microscale medical devices is that its location can be precisely identified within the body, something that proved challenging before.
February 17, 2017 – Eindhoven University of Technology (South Netherlands) Researchers presented a new method that should enable controlled drug delivery into the bloodstream using DNA computers. The team developed the first DNA computer capable of detecting several antibodies in the blood and performing subsequent calculations based on this input. This is an important step towards the development of smart, ‘intelligent’ drugs that may allow better control of medication with fewer side-effects and at lower cost.
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Intelligent Pills Global Market – Regional Analysis
Globally North America is the largest market for Intelligent Pills. The North American market for Intelligent Pills is expected to grow at a substantial CAGR and is expected to reach to astronomical amounts by the end of the forecasted period. Europe is the second-largest market for Intelligent Pills which is expected to grow at a considerable CAGR during the anticipated period.
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