Global Ingestible Sensor Market was valued US$ 395.84 Mn in 2017 and is expected to reach US$ 1495.13 Mn by 2026 at a CAGR of 18.07 % during the forecast period.
Growing global geriatric population is leading to the increased adoption of remote health monitoring which boosts the growth of global ingestible sensors market. Rising prevalence of lifestyle-related disorders such as diabetes and obesity further drives the demand for ingestible sensors-embedded “smart pills” for remote patient monitoring, thereby positively impacting the growth of the global ingestible sensors market. High R&D investment to develop innovative healthcare solutions will provide a great opportunity for the expansion of ingestible sensors market during the projected period. However, the high price of these smart pills will hinder their adoption which, in turn, will restrain the growth of ingestible sensors market during the forecast period.
Temperature, pressure, pH, and image are the major sensor types within the ingestible sensors market. In terms of profits, temperature sensors led the type segment in 2016. It is a widely used technique in different verticals such as healthcare and aerospace to measure body temperature in patients and astronauts respectively to detect any drastic temperature changes that might prove fatal if undetected.
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Medical vertical is expected to hold the largest share of the market during the forecast period. The medical vertical dominates the overall ingestible sensor market and plays a serious role in it. Ingestible sensor pills enabled with biological micro-electro-mechanical systems (Bio-MEMS), enable effective imaging, patient monitoring, and drug delivery. Thus, the medical industry opens a group of opportunities for ingestible sensors in novel therapeutic and diagnostic treatments for life-threatening diseases.
North America currently dominates the market for ingestible sensors and is expected to continue its stronghold for a few more years. This region is expected to retain its market share in the future because of the increasing number of diseases and rising geriatric population. The United States holds the majority of the market in the North America region; this is due to the presence of reimbursements, high healthcare expenditure, and an increasing focus on preventive care in place of a curative approach. The Asia Pacific region is anticipated to witness the highest CAGR during the forecast period because of increase in healthcare expenditure and rise in chronic diseases. Heavy investments by top companies in R&D are also likely to contribute toward regional growth. Countries like Japan, India and China are expected to lead the region with increasing adoption of these medical devices for diagnostics and therapeutic purposes. Increased cases of lifestyle-related diseases caused by physical inactivity and unhealthy eating habits are also likely to boost product demand in the region.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by type, service, components, and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the ingestible sensor market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Scope of Global Ingestible Sensor Market
Global Ingestible Sensor Market, By Component
• Data Recorder
• Image sensor
• Sports & Fitness
• Asia Pacific
• Middle East & Africa
• South America
• Given Imaging, Ltd.
• HQ, Inc.
• MC10 Inc.
• Medimetrics Personalized Drug Delivery B.V.
• Microchips Biotech, Inc.
• Olympus Corporation
• Oracle Corporation
• Proteus Digital Health, Inc.
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