Smart Pills Drug Delivery Market Size

Smart Pills Drug Delivery Market Analysis

The Smart Pills Drug Delivery Market is expected to register a CAGR of 10.2% over the forecast period.

The COVID-19 pandemic has boosted the demand for smart pills for managing patients suffering from COVID-19 and other associated disorders. It has also fueled the research and development activities for developing smart drugs. For instance, as per an article published by the International Journal on Emerging Technologies, in August 2020, in times of the COVID-19 pandemic, there was a need to develop a pill drug delivery system with a preprogrammed feature that will be used by the elderly or infected people. The proposed preprogrammed pill dispenser (PPD) is one such approach that is designed to help them to take their medicines at regular intervals of time. It states that the proposed preprogrammed drug delivery system is designed with an alerting module using an alarm and camera unit, which is one such approach intended to help patients take their medications at regular intervals as the in-home medical care cost in a developing country is much higher, which leads the individual to think of a cost-effective solution. Hence, with the abovementioned factors, it is observed that the market studied was positively impacted.

Specific factors driving the smart pills drug delivery market growth include increasing preference for minimally invasive devices, increasing incidence of gastrointestinal disorders, and technological advancements. Additionally, the increasing burden of neurological, cancer and other diseases drives the demand for intelligent pills in healthcare settings. For instance, according to the World Health Organization September 2021 update, around 55 million people have dementia, with over 60% living in low and middle-income countries. The same source also reports that this number is expected to rise to 78 million in 2030 and 139 million in 2050. With the increasing cases of Alzheimer's and dementia, there are increased chances of missing doses of medication or wrong administration of it, increasing the need for smart pills and drug delivery. Thus, the increasing burden of diseases around the globe and the need for care drives the market studied.

According to an article published by GIE Media, Inc., in December 2021, the need to perform highly skilled actions using specialized tools with limited visibility and motion range has introduced higher levels of expertise for surgical teams. Support equipment includes endoscopic cameras, visualization scanners, contrast injectors, etc. According to an article published on JAMA Network in January 2020, most surgeons currently opt for advanced minimally invasive surgical procedures such as laparo-endo single-incision surgery (LESS) due to their advantages over traditional open surgical techniques. These advantages include fewer scars and tissue injury, quicker recovery periods, shorter hospital stays, reduced blood loss and trauma, lower risk of infection, and reduced overall healthcare costs. In addition, minimally invasive surgeries are increasingly being covered by health insurance providers in selected countries. These factors have led to an increased preference for minimally invasive surgeries among patients leading to the growth of the smart pills drug delivery market.

Therefore, the abovementioned factors are attributed collectively to the studied market growth over the forecast period. However, stringent regulations for approving smart pills and potential health risks are expected to hinder market growth over the forecast period.