Ingestible Sensor Market

Market Overview: 

The global ingestible sensor market size reached US$ 914.6 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 2,502.1 Million by 2032, exhibiting a growth rate (CAGR) of 11.83% during 2024-2032. The increasing prevalence of chronic diseases, rising expenditure capacities of consumers, and extensive research and development (R&D) activities are some of the key factors driving the market.

An ingestible sensor is a pharmaceutical dosage electronic device that can be swallowed and then travels through the digestive system to collect and transmit patient health data. They are generally about the size of a medicine capsule composed of biocompatible materials and are designed to be swallowed like any other medication. An ingestible sensor is widely used to wirelessly transmit information about various health parameters such as medication adherence, vital signs, pH values, pressure, or core body temperature data and digestive function on a smartphone connected via the Internet. It is a non-invasive alternative that also assists in providing accurate and real-time data on a patient's condition, improving patient monitoring, and enhancing the effectiveness of treatments and medication.

Ingestible Sensor Market Trends:

The increasing prevalence of chronic diseases, such as diabetes, heart disease, and gastrointestinal disorders, is one of the key factors driving the market growth. Ingestible sensors are widely used as they offer a non-invasive way to monitor health conditions and improve patient outcomes. In line with this, the widespread adoption of these sensors in capsule endoscopy, patient monitoring, and controlled drug delivery applications is acting as another growth-inducing factor. Moreover, the growing cases of complications caused due to multiple chronic diseases are favoring the market growth. Apart from this, the miniaturization of ingestible sensors that are small and more comfortable to swallow is providing a thrust to the market growth. Additionally, the introduction of ingestible sensors with multiple sensors, allowing them to monitor multiple physiological parameters simultaneously, is positively influencing the market growth. Furthermore, the widespread product utilization as it helps to reduce hospital visits and re-hospitalization and offers round-the-clock remote monitoring, thereby allowing patients to recover within the comforts of their own homes, which in turn is facilitating the market growth. Other factors, including rising expenditure capacities of consumers, widespread adoption among the geriatric population that requires ongoing monitoring, significant growth in the healthcare industry, extensive research and development (R&D) activities, technological advancements, and increasing adoption of the Internet of Things (IoT) in the medical sector and the implementation of various government initiatives to improve healthcare education are anticipated to drive the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global ingestible sensor market report, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on component, and industry vertical.

Component Insights:

• Sensor 
  • Temperature Sensor
  • Image Sensor
  • pH Sensor
  • Pressure Sensor
• Wearable Patch/Data Recorder
• Software
   

The report has provided a detailed breakup and analysis of the ingestible sensor market based on the component. This includes sensor (temperature sensor, image sensor, Ph sensor, and pressure sensor), wearable patch/data recorder, and software. According to the report, sensor represented the largest segment.

Industry Vertical Insights:

• Healthcare/Medical
• Sport and Fitness
   

The report has provided a detailed breakup and analysis of the ingestible sensor market based on the industry vertical. This includes healthcare/medical and sport and fitness. According to the report, healthcare/medical represented the largest segment.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for ingestible sensor. Some of the factors driving the North America ingestible sensor market included rising expenditure capacities of consumers, significant growth in the healthcare industry, and rapid technological advancements.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global ingestible sensor market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Atmo Biosciences, CapsoVision Inc., Check-Cap Ltd., HQ Inc. ,IntroMedic Co. Ltd., JINSHAN Science & Technology (Group) Co. Ltd., Medtronic plc, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Ingestible Sensor Market Report Scope:

Key Questions Answered in This Report:

• How has the global ingestible sensor market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global ingestible sensor market?
• What is the impact of each driver, restraint, and opportunity on the global ingestible sensor market?
• What are the key regional markets?
• Which countries represent the most attractive ingestible sensor market?
• What is the breakup of the market based on the component?
• Which is the most attractive component in the ingestible sensor market?
• What is the breakup of the market based on the industry vertical?
• Which is the most attractive industry vertical in the ingestible sensor market?
• What is the competitive structure of the global ingestible sensor market?
• Who are the key players/companies in the global ingestible sensor market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the ingestible sensor market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global ingestible sensor market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the ingestible sensor industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.