Global Intelligent Pills Market – Overview
Intelligent Pills works on the principle of ‘ingestible event markers’ (IEM), these pills are incorporated with a sensors which enables physicians to monitor patient’s use of medication. These pills can be consumed in similar way like any other medicinal tablet. The data that can be monitored with the help of these pills is heart rate, breath rate and body temperature, which will be displayed on patients smart phone. These pills were tested for number of diseases like tuberculosis, psychological disorder, cardiovascular disease, high or low blood pressure, and diabetes. Although, the concept of intelligent pills may seem to be naive, but in 1980s NASA had invented ingestible thermometer to monitor the body temperature of astronauts. Other scientists are developing pills with camera to obtain high quality images of digestive system by non-invasive method.
The global intelligent pills market is expected to grow at a CAGR of 15.5 % during the forecast period. The Market is estimated to grow rapidly during the forecast period. The major factor influencing the growth of the market include increasing geriatric population. According to the U.S. Population Reference Bureau the number of people with age group of 65 years and older, will grow to 98 million by 2060. Thus the increasing geriatric population will enhance the growth of global market. Consumption of intelligent pills will be mostly by geriatric population and paralytic patients. Other factors driving the market are: increasing number of gastrointestinal disorders, stomach cancer, paralysis and infectious diseases. Capsule endoscopy is its most commonly used application to capture images of gastrointestinal tract.
However, the high risk of bowel obstruction and capsule retention is likely to hinder the growth of global intelligent pills market.
Global Intelligent Pills Market – Competitive Analysis
The global market of Intelligent Pills appears to be very naïve, with very few companies developing intelligent pills. However, due to increasing awareness, companies like CapsoVision and Proteus Digital Health are using this platform to produce innovative solutions.
Founded in 2005, CapsoVision, Inc. manufactures medical devices in diagnostic imaging of the gastrointestinal tract. In November 2016, the company announced U.S. FDA approval of CapsoCam Plus, a small bowel endoscope. It’s the first small video capsule endoscope to be marketed in U.S. thus making CapsoVision a pioneer in capsule endoscopy. Capsule endoscopy is a non-invasive process which does not require administration of anaesthesia and reduces hospitalisation expenses. Along with capsule the company also provides other associated solutions like, CapsoRetrieve a one-time use kit for patients to collect, store, and transport CapsoCam capsule; CapsoAccess, a software to save data; CapsoView that allows generation of endoscopy reports; and CapsoCloud, an interface that enables patients to extract data from the endoscopy capsule.
Proteus Digital Health is a leading provider of digital healthcare products, pharmaceuticals and medical device and has issued more than 300 patents. The FDA has approved the first smart pill Called Abilify MyCite of Proteus for use in the United States. The pill contains a drug and an ingestible sensor (microchip) that is activated when it reacts with stomach acid to detect the consumption time of the drug. Abilify Mycite System includes Mycite Patch a wearable patch which is to be worn on torsos; MYCITE APP, a smartphone application that displays the track record of ingested drug. ABILIFY MYCITE, is prescribed in adults for treating of schizophrenia, acute manic, mixed episodes and depressive disorders.
Intelligent Pill market is dominated by America due to increasing geriatric population and rising genetic disorders. America is segmented into North America (U.S. and Canada) and South America (Brazil, Argentina and Peru). North America comprises of 80% of the total land of America and therefore it is largest market for Intelligent Pill. Additionally, easy access to advanced technology, reimbursement policies, and approval of innovative molecules and devices are estimated to promote market growth in North America.
Europe is the second largest market for Intelligent Pills. Increasing government funds in research and development is the major factor for the market growth within the region. Extensive use of advanced technology also promotes the market growth
The Asia Pacific region is expected to observe the fastest growth during the forecast period. Rising research and development expenditure and, the presence of the emerging countries like India and China within the region fuels the market.
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