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.
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.
Full Research Report on Global Ingestible Sensors Market
Analysis:
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
View more reports of
this category by Grand View Research at: http://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
View Press Release of this research report by Grand View
Research: http://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.
For More Information: www.grandviewresearch.com
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