USD 738.28 million
Ingestible Sensor Market Size, Share, Growth Analysis, By Component(Sensor, Data Recorder, Software), By Type(Temperature, Pressure, pH, Image Sensor), By Vertical(Medical, Sports & Fitness), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45F2109 |
Region:
Global |
Published Date: February, 2024
Pages:
259
|Tables:
90
|Figures:
76
Ingestible Sensor Market Insights
Ingestible Sensor Market size was valued at USD 738.28 million in 2022 and is poised to grow from USD 819 million in 2023 to USD 1800 million by 2031, growing at a CAGR of 10.9% in the forecast period (2024-2031).
One of the most cutting-edge items produced by the digital medical sector is the ingestible sensor. After being ingested, these sensors track a variety of bodily functions like heart rate, pulse, and blood pressure in order to continuously detect acute problems. Other sensors, information recorders, and programming devices are all coupled to these sensors. With the help of the connected discover application, the captured data may be transferred to smartphones. This programme supports patients in information analysis and decision-making related to medicine and other matters. Ingestible sensors are used by many medical personnel, such as nurses, doctors, and physician assistants, to assist in improved patient monitoring and diagnosis. Additionally, these sensors assist healthcare practitioners in developing efficient and life-saving treatment programmes for their patients.
Consumptive sensors are ingested. In this way, they can demonstrate to medical specialists the true state of the patient's internal organs. The installation of these sensors doesn't hurt the patient and doesn't involve any invasive procedures like biopsies. Biopsies and invasive procedures are uncomfortable, and there is always a chance that an unexpected infection can cause a serious illness or even death. An innovative virus called COVID-19 is having the same consequences on the world as the Black Death did in the fourteenth century. Yesenia Persists and COVID-19 are both profoundly altering the globe. Europe's rise was influenced by the Black Death. Additionally, it ushered everyone into the modern period. The globe is being pushed into the digital era by COVID-19. Additionally, it has established online shopping and enterprises as a legitimate method for people to live, work, and shop. The fact that COVID-19 could not and should not be taken lightly was recognised by governments all across the world. So they imposed quarantines and lockdowns everywhere. These were only meant to be temporary because they weren't actually effective in stopping the coronavirus's spread.
Many firms all over the world were compelled to either stop production completely or drastically reduce it. Many companies were compelled to permanently close their doors because they could no longer stay either financially successful or economically sustainable. The companies operating in the global market for ingestible sensors saw the exact opposite outcome. In fact, they prospered as a result of COVID-19. The cause was a search for safer methods for remote patient diagnosis by medical specialists and front-line staff. Ingestible sensors proved to be the solution.
US Ingestible Sensor Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Sports
Fastest Growth
Sports
Growth Rate
10.9% CAGR
Global Ingestible Sensors Market 2024-2031 ($ Bn)
Country Share for North America Region- 2024 (%)
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Ingestible Sensor Market Segmental Analysis
Global Ingestible Sensor Market is segmented based on Component, Sensor Type, vertical, and region. Based on components the market is sub-segmented into Software, data recorders, and sensors. Based on type the market is sub-segmented into Temperature sensors, pressure sensors, pH sensors, and image sensors. Based on verticals the Ingestible Sensor Market is sub-segmented into Sports & fitness and medicine. North America, Europe, Asia-Pacific, and the rest of the world are the four sub-segments of the region segment.
Ingestible Sensor Market Analysis by Component
Sensor, data recorder/wearable patch, and software are three major component kinds. Due to significant R&D expenditures and the introduction of new products, the sensor category previously generated the most revenue. For instance, the first digital tablet with an ingestible sensor was approved by the American FDA in 2021. Otsuka Pharmaceutical and Proteus Digital Health jointly created the tablet and the sensor. These gadgets provide remote access to health records and chronic disease management, which is a potential development for raising health quality and lowering costs.
With 24-hour remote monitoring and a reduction in hospital visits and readmissions, this technology also enables patients to rehabilitate in the comfort of their own homes. During the forecast period, the software segment is expected to grow at a profitable CAGR. This expansion can be ascribed to manufacturers' ongoing attempts to provide cutting-edge software and provide more efficient means of disease management and control. According to the Canadian Diabetes Association, the number of people who will be affected by the condition in Canada is expected to reach 5.0 million by 2025. Thus, it is expected that the segment will grow as incidences of chronic diseases like diabetes, cancer, arthritis, Alzheimer's disease, chronic kidney disease, and chronic pain rise.
Ingestible Sensor Market Analysis by Vertical
These goods are frequently utilised in the medical field where they aid in illness diagnosis and patient health monitoring. With ingestible sensors, monitoring various parameters like temperature, pressure, and pH is more easier than with invasive approaches, which necessitate tedious processes and surgical interventions. They are also employed for a number of other things, like controlled drug release and capsule endoscopy. They enhance medication adherence by alerting doctors to drug interactions and patient usage of specific medications. Their demand in the medical sector has grown as a result of these added benefits.
Sports and fitness are yet another important area of application. To evaluate the health of players and sportsmen, it is necessary to continuously monitor vital body metrics like blood pressure and melatonin levels. Additionally, they enable athletes to properly record pertinent data without the use of invasive tools while monitoring dietary interactions. All of these elements are increasing the demand for products in this industry. They are also applied in other fields where understanding interior anatomy is necessary. Firefighters and military people who work in hazardous environments must also keep an eye on their body temperatures and other vital indicators, which is increasing market demand.
Ingestible Sensor Market Analysis by Sensor Type
Sensor, data recorder/wearable patch, and software are three major component kinds. Due to significant R&D expenditures and the introduction of new products, the sensor category previously generated the most revenue. For instance, the first digital tablet with an ingestible sensor was approved by the American FDA in 2021. Otsuka Pharmaceutical and Proteus Digital Health jointly created the tablet and the sensor. These gadgets provide remote access to health records and chronic disease management, which is a potential development for raising health quality and lowering costs.
With 24-hour remote monitoring and a reduction in hospital visits and readmissions, this technology also enables patients to rehabilitate in the comfort of their own homes. During the forecast period, the software segment is expected to grow at a profitable CAGR. This expansion can be ascribed to manufacturers' ongoing attempts to provide cutting-edge software and provide more efficient means of disease management and control. According to the Canadian Diabetes Association, the number of people who will be affected by the condition in Canada is expected to reach 5.0 million by 2025. Thus, it is expected that the segment will grow as incidences of chronic diseases like diabetes, cancer, arthritis, Alzheimer's disease, chronic kidney disease, and chronic pain rise.
Global Ingestible Sensors Market Share By Vertical, 2024 (%)
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Ingestible Sensor Market Regional Insights
As a result of technology improvements and the availability of sophisticated infrastructure, North America has been the region's most successful market. The creation of microscopic camera pills, which are commonly utilised in these items as a consequence of advances in science and technology, is projected to accelerate the region's growth. According to reports, a major reason influencing the region's expansion is the rise in chronic and gastrointestinal disorders. In terms of market revenue, Europe lagged behind North America by a considerable margin. Because of the superior research and technology in this area, several local businesses have focused on developing cutting-edge medical gadgets. This element aids in the expansion of the region. Other significant growth-promoting variables include the increase in chronic disease cases, the ageing population, and the accessibility of simple reimbursement methods.
A growth in chronic diseases and rising healthcare costs are expected to cause the Asia Pacific area to see the greatest CAGR during the projection period. Leading businesses are likely to make significant R&D investments that will aid in regional growth. The usage of these medical devices for diagnostic and therapeutic reasons is expected to increase, with nations like China, India, and Japan set to lead the region in this regard. The region's growing occurrences of ailments linked to a sedentary lifestyle and poor eating patterns are also projected to increase product demand.
Global Ingestible Sensors Market By Geography, 2024-2031
- Largest
- Fastest
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Ingestible Sensor Market Dynamics
Ingestible Sensor Market Driver
- Technologies in the health industry are developing quickly. This is one of the main factors boosting growth in the worldwide ingestible sensor market, along with the fact that more front-line employees and healthcare professionals are utilising medical apps more frequently.
- The fact that COVID-19 has overrun the healthcare systems in most countries is another element fueling the expansion of the ingestible sensor industry. As a result, hospitals are overflowing. Frequently, there are not enough beds to accommodate all the patients who are admitted (mainly thanks to COVID-19.) By diagnosing and treating patients remotely whenever possible, doctors and other medical professionals are attempting to reduce this bottleneck.
- The fact that more and more people in developing countries cannot afford quality health insurance is another reason fueling growth in the global ingestible sensor market. Therefore, they might not have the resources to pay for trendy, efficient, but pricey medical procedures. Utilizing ingestible sensors for diagnosis and treatment is the second-best option.
Ingestible Sensor Market Restraint
- Sensors that can be ingested are very pricey. Especially with regard to medicines that can be swallowed. As a result, only wealthy individuals and hospitals can afford them. This is a significant barrier to the expansion of the global market for ingestible sensors.
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Ingestible Sensor Market Competitive Landscape
Companies are finding that they must resort to research and development to develop and market the new generations of technologically advanced products with innovative new applications. Not only can they outsell the competition by doing this but they can also create the sustainable competitive advantage that they’ll need to remain financially profitable and economically viable.
Ingestible Sensor Market Top Player’s Company Profiles
- RF Co. Ltd. (Japan)
- CapsoVision Inc. (US)
- Medtronic (US)
- Proteus Digital Health
- Olympus Corporation
- Given Imaging Ltd.
- Medimetrics
- Microchips Biotech, Inc.
- Check-Cap
- IntroMedic Co., Ltd.
- MC10
- Sensirion AG
- Proteus Biomedical
- Philips Healthcare
- BodyCap
- Adler Planetarium and Astronomy Museum
- e-Celsius Performance
- Pillo Health
- SmartPill Corporation
- HQ, Inc.
Ingestible Sensor Market Recent Development
- In March 2021, The ingenious new ingestible sensor from Olympus Corporation has lately made its way into the European Union and the Asia-Pacific area.
- In April 2021, Recently, CapsoVision and PENTAX Medical collaborated to produce a new generation of ingestible capsules with significantly more creative applications and superior technology.
Ingestible Sensor Key Market Trends
- Given that capsule endoscopes have been available on the market for about 20 years, the medical and healthcare sector is expected to have the greatest market size in 2021. In the medical field, applications for ingestible sensors include controlled drug delivery, patient monitoring, and capsule endoscopy. They improve medication adherence by alerting doctors to drug interactions and patient usage of specific medications.
- Their demand in the medical sector has grown as a result of these added benefits. Capsule endoscopy has proven to be a reliable and accurate method of endoscopic imaging. As a result, the developed markets also offer compensation for capsule endoscopy operations. The expansion of capsule endoscopy is also expected to be fueled by the rising prevalence of gastrointestinal disorders, which is also driving the market's diagnosis segment upward.
Ingestible Sensor Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by the robust Secondary Desk research.
According to the analysis, the sensor segment dominated the global Ingestible Sensor Market in 2021 and is expected to maintain its dominance throughout the forecast period. In 2021, the Asia Pacific dominated the global Ingestible Sensor Marketowing to the region's highly aware and economically stable population.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 738.28 million |
| Market size value in 2031 | USD 1800 million |
| Growth Rate | 10.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Ingestible Sensor Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Ingestible Sensor Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Ingestible Sensor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Ingestible Sensor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Ingestible Sensor Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Ingestible Sensor Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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