Ingestible sensors market is expected to reach USD 2.0 billion by 2024,
according to a new report by Grand View Research, Inc. The
escalation in the geriatric population has driven the demand for improved,
minimally-invasive, medical technologies and devices to address the needs of
the elderly population subset. With the advent of the sensors that can be
ingested, the internal anatomy of the human body can be easily studied and
monitored with changes in pressure, temperature, and pH recorded constantly.
The
internal anatomy can also be captured with the help of an image sensor,
enabling enhanced visualization of the gastrointestinal tract along with any
anomalies that maybe causing digestive perturbations; thus, expediting
conclusive disease diagnosis with greater clarity while obviating cumbersome
procedures, such as endoscopy.
The
growing number of chronic diseases like cardiac diseases, obesity and diabetes
along with cancer require constant physiological monitoring of vital bodily
functions, which is easily met by the use of ingestible sensors. Favorable
reimbursement options provided by governments and insurance companies have
promoted the adoption of these devices to a larger extent. Compliance with
medication regimes has increased significantly in patients, which has further
encouraged the adoption of these ingestibles.
The
major restraints in the ingestible sensors market are technical and clinical
constraints along with the substantially large technological costs associated
with manufacturing and designing of these sensors that require high capital
funds.
U.S. ingestible sensors market, by sensor type, 2013 - 2024 (USD Million) |
On
the basis of components, the ingestible sensors market is segmented into
sensors, wearable data recorder, and software. The sensor components enable
data collection and wireless transmission of the recorded data for it to be
decoded by the software into clinically meaningful data for further analysis to
be performed.
The
various kinds of sensors available are temperature, pressure, pH, and image
sensors. The medical applications of the sensors are wide ranging as they
support wireless and remote, patient monitoring as well as diagnostic imaging.
All sensor devices are equipped with technical components that facilitate
physician access to the diagnostic output on easily operable user interfaces.
The
medical vertical has been the highest gaining segment owing to the use of
ingestible sensors in clinics and hospitals. These sensors furnish medical
professionals with accurate, real-time data for multiple parameters through
non-invasive and wireless technology; in consequence, these devices are a
mainstay of diagnostic procedures. In other segments including sports and
fitness, the wearable sensors that monitor vital signs to check serious
ailments, have gained significant momentum.
Browse full
research report on Ingestible Sensors Market: www.grandviewresearch.com/industry-analysis/ingestible-sensors-market
Further
Key Findings From the Study Suggest:
- The major market share is estimated to be
dominated by the North America region due largely to the technological
advancements and the pre-existing robust research and development base.
The majority of the companies dominating the market has progressed in
terms of designing and manufacturing of sensors and is at present focusing
on refining the existent products.
- The Asia Pacific region is set to grow at a
steady pace due to the increasing adoption of ingestible sensors in
hospitals and clinics. With a huge target population base in this region
including the escalating geriatric patient count afflicted with chronic
diseases, smart pill technology, such as ingestibles address the need for
novel technology to incorporate minimally invasive procedures in the
diagnostic process.
- Temperature and image sensors are the major
profit gainers among the ingestible sensors as they furnish accurate
readings with respect to the body temperature and metabolic changes;
hence, facilitating easy interpretation
- The medical vertical is expected to be the
highest gaining segment owing to the increasing adoption of ingestible
sensors in patients, followed by the sports and fitness segments
- Some key market players include Proteus Digital
Health, Inc., CapsoVision, Inc., Given Imaging, Inc., and Olympus
Corporation, among others
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/biotechnology
Grand View Research has segmented the global ingestible sensors market on
the basis of device type, therapeutic use, formulation, end-user application,
and region:
Ingestible
Sensors, Component Outlook (Revenue, USD Million, 2013 - 2024)
- Sensor
- Wearable
patch/ Data Recorder
- Software
Ingestible
Sensors, Type Outlook (Revenue, USD Million, 2013 - 2024)
- Temperature
Sensor
- Pressure
Sensor
- pH
Sensor
- Image
Sensor
Ingestible
Sensors, Vertical Outlook (Revenue, USD Million, 2013 - 2024)
- Medical
- Sports
and Fitness
- Others
Ingestible
Sensors, Regional Outlook (Revenue, USD Million, 2013 - 2024)
- North
America
- Europe
- Asia
Pacific
- Latin
America
- MEA
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-ingestible-sensors-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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