An ingestible sensor is a digital pill which is expected to revolutionize the healthcare sector as it delivers high-quality, low-cost medical monitoring, and diagnosis. The sensors provide daily medical assessment, medical adherence, real-time monitoring, internal body images, and many other functions for medical diagnosis and management. Once the ingestible sensors are swallowed in the form of digital pills, they get activated by electrolytes present within our body. Hence, it is expected that these sensors will positively impact the healthcare industry
The need to advance technology that is user-friendly design and has non-invasive applications is leading to growth in interest for ingestible sensors. Reports that explore the semiconductor and electronics industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. The market’s growth is expected to be fast-tracked by a 22.22 % CAGR that will lead to revenue generation worth USD 87.10 billion by the conclusion of the forecast period.
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The well-known companies in the ingestible sensor market are Proteus Digital Health (US), IntroMedic Co. Ltd. (South Korea), CapsoVision Inc. (US), Medtronic (US), RF Co. Ltd. (Japan), Olympus Corporation (Japan), AdhereTech (US), MC10 (US), Otsuka Holdings (Japan), and Microchips Biotech Inc. (US).
The necessity to enhance real-time health monitoring is anticipated to create a favorable market space for the ingestible sensors. The development of technology that has led to the extensive use of medical applications is expected to advance the ingestible sensor market. Moreover, the demand for controlled drug delivery is increasing rapidly, which will motivate the ingestible sensor market globally.
The segmental review of the ingestible sensor market has been carried out on the basis of vertical, component, application, and region.
On the basis of component, the ingestible sensor market is segmented into wearable patch/ data recorder, sensor, and software. Based on the sensor, the ingestible sensor market is further segmented into temperature sensors, pH sensors, pressure sensors, and image sensors.
On the basis of vertical, the ingestible sensor market is segmented into sports & fitness and medical.
On the basis of region, the ingestible sensor market comprises of North America, Europe, Asia-Pacific, and others.
The regional analysis of ingestible sensor market is considered for North America, Europe, Asia-Pacific, and the rest of the world.
North America is expected to dominate the ingestible sensor market with the largest market share due to the growing population of patients in countries such as the US, Canada, and Mexico who are the early adopters of new technology. The US food and drug administration (FDA) approved Abilify MyCite, a digital pill embedded with an ingestible sensor to track the health of patients via a smartphone.
Europe is expected to be the second largest market owing to the encouragement of the e-health strategy by the European government. China, Japan, India, and other countries in the Asia-Pacific are experiencing an increasing demand for digital pills and ingestible sensors owing to increasing expenditure in healthcare and medicines along with adoption of the latest technology and devices in the healthcare sector. Hence, Asia-Pacific is expected to be the fastest growing region in the ingestible sensor market over the assessment period.
The ingestible sensor market is well equipped to navigate the shifting tides, abrupt upheavals, and unexplored waters in the global economy. The fiscal inflows in the market are being focused towards growing the inventions in the central product offering presented in the market so that the development doesn’t go off in the approaching period. The rise of sponsors in the market has put on an essential role in the advancement of the market. The market has obtained an incremental stride in the past few years, which is emphasized by the accomplishments in terms of valuation. The motive of properly bolstering the global economy is being driven through the development of this market as well. The global administrations have also contributed substantially towards the development of the market in current years. Also, the competition being noticed in the market is not unfavorable to the distinct player’s progress in the market. The decrease in the barriers to trade is anticipated to extend innovative areas for development in the forthcoming years. The expansion of the resources required to withstand against competition has enhanced significantly leading to a record progress rate.
Table of Content:
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
Continued. . .
List of Table:
Table 1 Global Ingestible Sensor Market, By Region, 2018–2023
Table 2 North America: Ingestible Sensor Market, By Country, 2018–2023
Table 3 Europe: Ingestible Sensor Market, By Country, 2018–2023
Table 4 Asia-Pacific: Ingestible Sensor Market, By Country, 2018–2023
Table 5 Rest of The World: Ingestible Sensor Market, By Country, 2018–2023
Continued. . .
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List of Figures:
FIGURE 1 Global Ingestible Sensor Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis of Global Ingestible Sensor Market
FIGURE 4 Value Chain of Global Ingestible Sensor Market
FIGURE 5 Share of Ingestible Sensor Market In 2018, By Country (In %)
Continued. . .
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