Global Ingestible Sensor Market, By Component (Sensor, Wearable Patch/ Data Recorder, and Software), Sensor (Temperature Sensor, Pressure Sensor, pH Sensor, Image Sensor), Vertical (Medical, Sports & Fitness), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Ingestible Sensor Market Analysis and Insights
Ingestible sensor market will reach at an estimated value of USD 5081.55 million and grow at a CAGR of 21.50% in the forecast period of 2021 to 2028. Rising technological advancement in the sensors acts as an essential factor driving the ingestible sensor market.
Ingestible sensor is defined as a critical healthcare technology that positively impacts numerous clinical areas such as nutrition, health, and fitness. They are interactive devices that are used for medical analysis of the human body and these sensors come in a user-friendly design and have non-invasive applications, which attract patients. Ingestible sensors wearable patches or pills which monitor and diagnose the health of a patient and display the report on a smartphone connected via the Internet. These patches or pills comprises of video chips, lens, systems or software chips, and data antennas which enable real-time health monitoring.
Increase in the prevalence of chronic conditions and life-threatening diseases, and perpetual health issues acts as a crucial factor accelerating the market growth, also rising growth in population and increase in expenditure on smart devices to enhance lifestyle, rise in the initiatives by government to improve healthcare education, increase in awareness towards health concerns, rising aging population, rising lifestyle-related diseases and better visualization and favorable reimbursement are the major factors among others boosting the ingestible sensor market. Moreover, rising emerging markets and modernization of healthcare infrastructure and rising research and development activities in the market will further create new opportunities for ingestible sensor market in the forecast period mentioned above.
However, rising technical and clinical issues and high cost of technology are the major factors among others restraining the market growth, while rising need for advancement in healthcare informatics and increasing regulatory mandates and standards will further challenge the ingestible sensor market in the forecast period mentioned above.
This ingestible sensor market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on ingestible sensor market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Ingestible Sensor Market Scope and Market Size
Ingestible sensor market is segmented on the basis of component, sensor and vertical. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, ingestible sensor market is segmented into sensor, wearable patch/ data recorder, and software.
- Based on sensor, the ingestible sensor market is segmented into temperature sensor, pressure sensor, pH sensor and image sensor.
- The ingestible sensor market is also segmented on the basis of vertical into medical and sports & fitness.
Ingestible Sensor Market Scope Country Level Analysis
Ingestible sensor market is analysed and market size, volume information is provided by country, component, sensor and vertical as referenced above.
The countries covered in the ingestible sensor market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the ingestible sensor market due to rising technological advancements and availability of sophisticated infrastructure, increase in chronic and gastrointestinal diseases, rising growth in population and increase in expenditure on smart devices to enhance lifestyle and rise in the initiatives by government to improve healthcare education in this region. Europe is the expected region in terms of growth in ingestible sensor market due to increasing cases of chronic diseases, growing geriatric population, and rising availability of easy reimbursement options in this region. Asia-Pacific is also expected to grow in terms of growth in ingestible sensor market due to increase in healthcare expenditure and rise in chronic diseases in this region.
The country section of the ingestible sensor market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Ingestible Sensor Market Share Analysis
Ingestible sensor market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to ingestible sensor market.
The major players covered in ingestible sensor market report are CapsoVision, Inc., MEDTRONIC, HQ, Inc, MC10, Medimetrics Personalized Drug Delivery B.V, DARÉ BIOSCIENCE, Olympus Corporation, Oracle and Atmo Biosciences, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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