Ingestible Sensors Market Reach $ 2.0 Billion By 2024: Grand View Research, Inc.
The 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.
Browse full research report on Ingestible Sensors Market:
http://www.grandviewresearch.com/industry-analysis/ingestible-sensors-market
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
Browse more reports of this category by Grand View
Research: 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
Access 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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more Info: www.grandviewresearch.com
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