[188 Pages Report] The Smart Drugs & Pills Market size was estimated at USD 8.28 billion in 2023 and expected to reach USD 10.18 billion in 2024, at a CAGR 24.18% to reach USD 37.71 billion by 2030.
Smart drugs & pills equipped with biosensors, images, pH, or chemical sensors help to perform highly advanced functions such as sensing, imaging, and drug delivery. Smart drugs & pills with a small wearable sensor patch travel along the gastrointestinal tract to capture images. The growing incidence of chronic diseases and patients' preference toward minimally invasive procedures for treatment is driving the adoption of smart drugs & pills. Certain benefits offered by smart drugs & pills, such as advanced capsule endoscopy, targeted drug delivery, and easy remote patient monitoring, result in the increasing adoption of smart pills in treating patients with gastrointestinal diseases or cancer. However, the high cost associated with smart drugs & pills, along with inadequate reimbursement policies in emerging countries to offer full coverage to patients, restricts the growth of the smart pills market. The ongoing investment in R&D by market players to introduce small drugs & pills that can be used in the diagnosis and treatment of new disease conditions is expected to create opportunities for market growth.
Increased focus on providing value-based care to patients and the rise in medication errors caused by human interaction in the distribution of specialty drugs in the United States is growing the need for smart drugs & pills in the Americas. As per the National Library of Medicine, in July 2022, around 7,000 to 9,000 people in the United States alone were deceased owing to medication error. The increasing development of smart drugs & pill facilities in the United States is expected to drive the growth of the market. In March 2022, AccelmedPartners led USD 40 million investment in MedMinder Systems Inc., the leading fully-integrated, end-to-end pharmacy, medication adherence, and connected care solution for elderly and polypharmacy patients. The growing awareness about the incidences of chronic diseases such as cancer, Alzheimer, gastrointestinal reflux diseases (GERD), and gastric ulcers in India, China, Japan, and Australia is expected to offer the potential for smart drugs & pills market in Asia-Pacific. However, South America and the Middle East are witnessing moderate growth due to developing healthcare infrastructure and inadequate availability of reimbursement policies to offer assistance to patients to adopt smart drugs & pills.
The FPNV Positioning Matrix is pivotal in evaluating the Smart Drugs & Pills Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Smart Drugs & Pills Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
BD, BIOCORP Sign Agreement to Bring Connectivity, Traceability to Self-Administered Injectable Drugs
BD (Becton Dickinson) and BIOCORP have recently announced an agreement to bring connectivity and traceability to self-administered injectable drugs. This is an exciting step forward in the world of smart drugs & pills, offering increased safety and security with the ultimate goal of being able to access real-time product data. Benefits also include enhanced patient monitoring and outcomes, easier reporting of drug performance, less product return for destruction/investigation and faster issue resolution. Overall this partnership is set to revolutionize the market for both existing products and those still in development. This agreement see's progression in healthcare technology taking a dramatic leap forward, allowing patients around the globe to benefit from better management while also providing cost savings across the pharmaceutical industry. [Published On: 2022-10-18]
AARDEX Group adds etectRx to their MEMS Adherence Hardware ecosystem
The Aardex Group recently announced their expansion into the smart drugs and pills market with the addition of EtectRx to their MEMS Adherence Hardware Ecosystem. This strategic move follows the great success of their innovative digital care technologies that enable improved patient adherence and better health outcomes for individuals. With the help of digital, connected compliance packaging like EtectRx's DigiMed, patients can easily monitor, track, and actively manage their medication intake for optimal health. As one of the first companies to introduce smart medicine systems, Aardex Group is leading this new industry march towards a healthier future by providing healthcare professionals with reliable adherence hardware solutions. [Published On: 2022-04-28]
Hamilton Beach Brands, Inc. and HealthBeacon plc Announce the US Launch of the Smart Sharps Bin™ Injection Care Management System
Hamilton Beach Brands Inc and HealthBeacon Plc recently announced the US launch of the Smart Sharps Bin Injection Care Management System, allowing users to develop a personalized approach to managing their injection medications via a convenient and secure e-prescription home delivery option. This smart system is designed to improve medication adherence and offers an easy way for people to keep track of their doses – helping them take control of their health. Furthermore, it gives doctors real-time access to patient data, allowing them to monitor patients’ progress toward their treatment goals or modify treatments if needed. All in all, this new system provides an efficient solution for managing smart drugs and pills in both online and offline scenarios. [Published On: 2022-03-17]
The report delves into recent significant developments in the Smart Drugs & Pills Market, highlighting leading vendors and their innovative profiles. These include Aardex Group, AnX Robotica Corp., CapsoVision, Inc., Check-Cap Ltd., GE Healthcare, IntroMedic Co., Ltd., Jinshan Science & Technology (Group) Co., Ltd., Koninklijke Philips NV, Medtronic PLC, Novartis AG, Olympus Corporation, and RF Co., Ltd..
This research report categorizes the Smart Drugs & Pills Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Target Area
- Esophagus
- Large Intestine
- Small Intestine
- Stomach
- Type
- Over-the-Counter Nootropics
- Caffeine
- Creatine
- L-theanine
- Omega-3 fatty acids
- Racetams
- Prescription Nootropics
- Over-the-Counter Nootropics
- End User
- Diagnostic Centers
- Hospitals
- Research Institutes
- Application
- Capsule Endoscopy
- Drug Delivery
- Patient Monitoring
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
- What is the market size and forecast of the Smart Drugs & Pills Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Smart Drugs & Pills Market?
- What are the technology trends and regulatory frameworks in the Smart Drugs & Pills Market?
- What is the market share of the leading vendors in the Smart Drugs & Pills Market?
- Which modes and strategic moves are suitable for entering the Smart Drugs & Pills Market?
- Preface
- Research Methodology
- Executive Summary
- Market Overview
- Market Insights
- Smart Drugs & Pills Market, by Target Area
- Smart Drugs & Pills Market, by Type
- Smart Drugs & Pills Market, by End User
- Smart Drugs & Pills Market, by Application
- Americas Smart Drugs & Pills Market
- Asia-Pacific Smart Drugs & Pills Market
- Europe, Middle East & Africa Smart Drugs & Pills Market
- Competitive Landscape
- Competitive Portfolio
- List of Figures [Total: 24]
- List of Tables [Total: 470]
- List of Companies Mentioned [Total: 12]
What are smart drugs and pills?
Smart drugs and pills, also called nootropics, are typically synthetic or organic compounds designed to improve cognitive functions, mental alertness, and memory recall in individuals. Smart drugs enhance neuroplasticity, which helps in improving brain function. These pills contain natural ingredients, amino acids, and other essential vitamins that support brain function.
Scope of smart drugs and pills in the geriatric population:
As the geriatric population increases, there is a growing demand for nootropics. The prevalence of conditions like dementia, Alzheimer's, or Parkinson's causes cognitive decline in the elderly population. However, nootropics can enhance cognitive functions, lower mental stress and anxiety levels, improve focus and concentration, and help retain memory.
Advantages and Risks associated with smart drugs and pills:
Though smart drugs and pills are beneficial in many ways, they come with certain risks which cannot be ignored. These nootropics can affect the neurotransmitter level, which can cause changes in brain chemistry. Overdose of these pills can cause symptoms like heart palpitations and dizziness. However, if taken in a regulated and monitored dose, smart drugs and pills can improve cognitive functions without any side effects.
Types of Smart Drugs and pills:
There are various types of nootropics that cater to different symptoms. Some of the popular ones are Modafinil, Piracetam, and Aniracetam. These pills improve focus, memory retention, motivation levels, and improve learning capacity.
Smart drugs and pills in the future:
The future of smart drugs and pills is bright as researchers are working on developing newer innovative drugs that specifically cater to various conditions. The introduction of smart drugs and pills in the geriatric population has been a huge success in providing individuals with a better quality of life.
Smart drugs and pills come with a lot of benefits when taken in a regulated and monitored dose. It can enhance brain function, improving cognitive functions and mental alertness. However, it's necessary to consider and understand the associated risk factors. The future of smart drugs and pills is promising, and it is exciting to see what the next generation of nootropics has to offer. With the rise in the geriatric population, smart drugs and pills will continue to play an essential role in improving cognitive functions and promoting a better quality of life.
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