Medtronic(US:MDT) GlobeNewswire News Roomยท2025-04-30 15:24Core Insights - The Smart Pills Market was valued at USD 1.2 billion in 2024 and is projected to reach USD 3.4 billion by 2034, with a CAGR of 11.6% [1][2] Market Drivers - The rising prevalence of gastrointestinal disorders and the increasing demand for non-invasive diagnostic solutions are major factors driving market growth [2][4] - The shift towards minimally invasive technologies in healthcare is revolutionizing diagnostics and treatment approaches [2] - The growing need for personalized medicine and remote healthcare solutions is accelerating market adoption [3][4] Technological Advancements - Smart pills equipped with sensors, microchips, and wireless communication capabilities enable real-time patient monitoring and precise drug delivery [2][4] - AI-powered smart pills enhance data processing efficiency, enabling faster and more accurate diagnoses [4] - IoT integration allows for continuous patient monitoring, reducing hospital visits and improving healthcare management [5] Market Segmentation - The market is segmented into products and patient monitoring software, with the product segment generating USD 725.9 million in 2024 [6] - The stomach segment accounted for 44.1% of the market share in 2024, driven by the prevalence of stomach-related disorders [7] Regional Insights - North America is a leading market for smart pills, valued at USD 455.5 million in 2024, with a projected CAGR of 11.3% [8] - The region benefits from a well-established healthcare infrastructure and early adoption of advanced medical technologies [8][9] Competitive Landscape - Key industry players are focused on research and innovation in medical technology, further propelling market growth [9]