The global Ingestible
Sensor Market is expected to exhibit a strong 21.36% CAGR over the
forecast period from 2018 to 2023, according to the latest research report from
Market Research Future (MRFR). The global ingestible sensor market is expected
to reach a valuation of USD 14,365.12 million by 2023, according to the report.
The latest figures about the global ingestible sensor market are presented in
the report in order to present to readers an accurate overview of the global
ingestible sensor market. Major drivers and restraints acting on the global
ingestible sensor market are also examined in the report. The report also
examines the impact of the COVID-19 pandemic on the global ingestible sensor
market.
Competitive Leaderboard:
Leading players in the global
ingestible sensor market include Microchips Biotech Inc., AdhereTech, Otsuka
Holdings, MC10, IntroMedic Co. Ltd., Olympus Corporation, Medtronic,
CapsoVision Inc., Proteus Digital Health, and RF Co. Ltd.
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Ingestible sensors are sensors
that can be ingested or applied on to the body in order to gain information
about specific parameters. The parameters examined by ingestible sensors
include temperature, pH, blood pressure, among others. Ingestible sensors also
have imaging capabilities that allow them to take pictures of internal organs
in clear detail, allowing diagnosticians to diagnose diseases based on accurate
imaging. Growing development in camera technology has been a major driver for
the global ingestible sensor market over the last few years. Successful
miniaturization of camera technology has also been a major driver for the
global ingestible sensor market. Miniature cameras have advanced rapidly in
terms of technological capability in recent years, thanks to incessant efforts
from major players looking to cater to the growing demand for miniaturized
cameras. Rapid advancements in camera technology have led to the creation of
capable miniature cameras that can take images in high resolution, allowing the
user to divine various conditions based on the imaging. Technological
advancement in miniature cameras is likely to be a major driver for the global
ingestible sensor market over the forecast period.
Growing prevalence of
gastrointestinal diseases is also likely to be a major driver for the global
ingestible sensor market over the forecast period. Gastrointestinal diseases
have become a major concern in recent years due to the growing prevalence of
food allergies and growing consumption of unhealthy junk food by urban
consumers. This has led to a growing demand for imaging devices capable of
taking detailed pictures of the gastrointestinal tract from the inside.
Ingestible sensors can simply be ingested through the mouth and controlled
remotely through computer applications, allowing the physician in charge to
take detailed pictures of specific sites inside the gastrointestinal tract. The
ease of taking pictures with ingestible sensors is the major driver for the
global ingestible sensor market. The growing usage of ingestible sensors in
diagnosing and treating gastrointestinal diseases is likely to be a major
driver for the global ingestible sensor market over the forecast period.
Segmentation:
The global ingestible sensor
market is segmented on the basis of component, vertical, application, and
region.
By component, the global
ingestible sensor market is segmented into sensor, wearable patch/data
recorder, and software.
By application, the global
ingestible sensor market is segmented into temperature sensors, pressure
sensors, pH sensors, and image sensors.
By vertical, the global ingestible
sensor market is segmented into medical and sports & fitness.
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Regional Analysis:
North America is likely to
dominate the global ingestible sensor market over the forecast period due to
the strong presence of leading innovators in the region and the consistent
technological advancement pursued by the same. Significant technological advancement
in ingestible sensors has seen the North America market for ingestible sensors
grow rapidly in recent years. Major players present in the North America market
are likely to further engage in technological advancement in the coming years,
leading to steady growth of the global ingestible sensor market. Asia Pacific
is expected to be the fastest growing regional market for ingestible sensors
over the forecast period.
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