The global market for smart pills is estimated to grow at a CAGR of 11.4% during the forecast period. Smart pills are prescription drugs with edible electronic sensors. When ingested, these sensors send wireless messages to devices outside the body, such as patches, tablets, and smartphones. The growing elderly population, coupled with the increased prevalence of lifestyle-related diseases such as obesity, gastric ulcer disease and gastroesophageal reflux disease (GERD), is part of the driving force behind the growth of the global smart pill market. The rise of chronic diseases such as cancer and diabetes is also driving market growth.