Ingestible Sensors Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3802
Ingestible Sensors Market size is expected to grow significantly from 2019 to 2025.
Technological advancements in medical applications will prove beneficial for industry growth in forthcoming future. Ingestible sensors comprise of nano-biosensors that can sense chemical and physical parameters through genetic pathways. Scientists use these ingestible sensors for blood sensing in extracellular environment to produce bioluminescence as an output signal. This enables in obtaining real time monitoring through capsule endoscopy resulting in optimum drug delivery. Thus, benefits offered by ingestible sensors will augment its demand, thereby propelling business growth.
Increasing prevalence of chronic diseases such as gastrointestinal disorders across the globe will foster the industry growth in near future. These ingestible when consumed gives event marker that is activated by stomach acid. It transmits signal over body through skin patch intact to patient that indicates ingested medication. Liver, gastrointestinal and pancreatic disorders are responsible for disease burden, morbidity and mortality rate. As a result, demand for ingestible sensors will augment in coming years due to immense number of patients suffering from intestinal disorders. However, high cost of ingestible sensors will hamper market growth up to certain extent.
Wearables data recorder segment is anticipated to witness substantial CAGR in forthcoming future. Wearables are the body worn sensors that gathers behavioral and physiological data such as body angle relative to gravity, heart rate and other activities. The data is stored in patch that sends behavioral, physiological, ingestion and event data in a computing device for display. This data enables physicians to collect accurate information. Abundant data gathered through wearables and user friendliness augments its adoption, thereby propelling segment growth.
Temperature sensor market had significant revenue share in 2018. Ingestible sensors are the smart pills that mainly have silver oxide battery, temperature sensing crystals, etc. These sensors wirelessly transmit essential body temperature as it passes through digestive tract. Once the pill is swallowed, crystal sensor vibrates at a frequency pertaining to body’s internal temperature producing magnetic flux. Ingestible sensors signal harmlessly travels from body to pill. Thus, accurate temperature achieved through ingestible sensors will augment its demand in coming years that will exceed segment growth.
Medical segment is anticipated to witness lucrative growth in coming years. Significant growth is attributed to benefits offered by ingestible sensors. These sensors have pivotal role in gathering real time data of patients. Accurate data enables doctors to perform further treatment on patients. This in turn results in enhanced patient outcome. In medical domain, ingestible sensors are used in endoscopy procedures and patient monitoring. Thus, rising applications and advantages of ingestible sensors will surge its demand in medical domain, thereby driving segment growth.
North America ingestible sensors market had substantial revenue in 2018 and it anticipated to enormously increase in forthcoming future. Increasing prevalence of gastrointestinal disorders coupled with high awareness amongst people will increase adoption rate, that will rise demand of ingestible sensors. Additionally, strong foothold of industry players is providing innovative technologically advanced solutions, thereby escalating business growth. As a result, increasing prevalence of chronic diseases coupled with presence of industry players will accelerate regional market growth.
Notable industry players operating in the ingestible sensors market share are CapsoVision, Proteus Digital Health, IntroMedic, AdhereTech, Otsuka, Olympus, Medtronic and Medimetrics Personalized Drug Delivery. Industry players are implementing several strategies such as partnerships, acquisitions, mergers, etc. For instance, in November 2017, Otsuka and proteus announced first the U.S. FDA approved ABILIFY MYCITE, a digital medicine system. FDA cleared products will help company to have competitive advantage, that will increase company’s revenue.
Ingestible Sensors Market By Component, 2014-2025 (USD Million)
- Wearables Data Recorder
Ingestible Sensors Market By Sensor Type, 2014-2025 (USD Million)
- Temperature Sensor
- pH Sensor
- Image Sensor
- Pressure Sensor
Ingestible Sensors Market By Vertical Type, 2014-2025 (USD Million)
- Sports and Fitness
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Proteus Digital Health
- Medimetrics Personalized Drug Delivery
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