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The Ingestible Sensors Market is segmented by Sensor Type (Temperature Sensor, Pressure Sensor, PH Sensor, Image Sensor), Industry Vertical (Healthcare/Medical, Sport & Fitness), and Geography.
2018 - 2026
Fastest Growing Market:
The market for ingestible sensors is expected to register a CAGR of 18.7% over the forecast period (2021 - 2026). The ingestible sensor is a critical healthcare technology which positively influences various clinical areas such as nutrition, health, and fitness. Technological advancements and the increasing prevalence of chronic disorders are some of the primary factors driving the market. Need for medical adherence and developed healthcare awareness among people are also likely to encourage market growth.
Ingestible sensors are devices that integrate a wireless sensor system into a non-invasive capsule to perform different functions, such as measuring pH values, pressure, or core body temperature data. Ingestible sensors may be seen as part of the user’s body and thus offer alternative engagement opportunities. In simple terms, they are ingestible electronic devices, roughly the size of a medicine capsule, composed of biocompatible materials that make up a power supply, microprocessor, controller, sensors, etc., giving the device the ability to telecommunicate for use in the healthcare industry for disease diagnostics and monitoring.
|By Sensor Type|
|By Industry Vertical|
|Sport & Fitness|
|Other Industry Verticals|
|Middle East & Africa|
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The medical and healthcare industry is believed to have the largest market size in 2018 due to the presence of capsule endoscopes for nearly two decades in the market. In the medical sector, ingestible sensors are used in capsule endoscopy, patient monitoring, and controlled drug delivery applications. They notify physicians about drug interactions and the usage of particular drugs by patients, thereby improving medication adherence.
These additional advantages have further fueled their demand in the medical vertical. Capsule endoscopy has established itself as an effective and precise way of endoscopic imaging. As such, the reimbursements for capsule endoscopy procedures are also available in the developed markets. Furthermore, the increasing prevalence of gastrointestinal disorders is also expected to fuel the expansion of capsule endoscopy and is leading to the growth of the diagnosis segment of the market.
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The advent of new technology is driving the growth of the ingestible sensor market across all global segments. North America is expected to dominate the market with the largest market share, owing to the adoption of extensive medical applications and the availability of sophisticated infrastructure.
The United States is the most prominent country in the region, with regard to technological advancements and increasing adoption of Internet of Things (IoT) in healthcare as it enables the monitoring, controlling, and tracking of daily routine including medicine intake using the internet. IoT in healthcare is witnessed to be a new wave of digital medication.
Innovations in the field of science and technology that resulted in the development of tiny camera pills, which are widely used in these products, are likely to boost the region’s growth. The rise in chronic and gastrointestinal diseases is also said to be a key factor driving the region’s expansion.
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The ingestible sensors market is competitive and consists of a few major players. In terms of market share, few of these major players currently dominate the market. New entrants in this market are offering similar product prototypes at lower prices, which may cause hindrance to well-established companies. Collaborations and M&A are the key strategies followed by most of the companies to gain maximum market share.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Cost Effectiveness and Availability of Reimbursements
4.2.2 Increasing Demand for Medical Adherence Monitoring
4.2.3 Technological Advancements and Increasing Investments
4.3 Market Restraints
4.3.1 Technical and Clinical Concerns
4.3.2 High Technology Cost
4.4 Industry Attractiveness - Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
4.5 Technology Snapshot
5. MARKET SEGMENTATION
5.1 By Sensor Type
5.1.1 Temperature Sensor
5.1.2 Pressure Sensor
5.1.3 pH Sensor
5.1.4 Image Sensor
5.2 By Industry Vertical
5.2.2 Sport & Fitness
5.2.3 Other Industry Verticals
5.3.1 North America
5.3.4 Latin America
5.3.5 Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 CapsoVision, Inc.
6.1.2 HQ, Inc.
6.1.3 IntroMedic Co. Ltd
6.1.4 JINSHAN Science & Technology
6.1.5 Medtronic PLC (Given Imaging, Inc.)
6.1.6 Olympus Corporation
6.1.7 Proteus Digital Health, Inc.
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments