Ingestible Sensors Market - By Component (Sensors {Temperature Sensor, Pressure Sensor, pH Sensor, Image Sensor}, Wearable Patch/Data Recorder, Software), Application (Medical, Sports and Fitness), End-use (Hospitals & Clinics) – Global Forecast, 2024 – 2032
Report ID: GMI8688
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Published Date: March 2024
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Report Format: PDF
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Base Year: 2023
Companies covered: 10
Tables & Figures: 248
Countries covered: 22
Pages: 140
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Ingestible Sensors Market
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Ingestible Sensors Market Size
Ingestible Sensors Market size was valued at USD 849.7 million in 2023 and is expected to reach USD 1.9 billion by 2032 at a CAGR of 9.2% from 2024 to 2032. Growing shift towards preventive healthcare, increase in R&D activities and investments, and supportive regulatory guidelines are among the key factors propelling the market expansion.
Gastrointestinal disorders necessitate ongoing monitoring of physiological parameters like pH levels, temperature, and gastrointestinal pressure to evaluate disease severity, treatment efficacy, and disease progression. Ingestible sensors present non-intrusive and convenient avenues for diagnosing gastrointestinal disorders, furnishing real-time insights into gastric motility, acid reflux, and bowel movement patterns. This enables prompt diagnosis and tailored treatment interventions. The increase in awareness levels, coupled with supportive government policies, plays a pivotal role in advancing early disease diagnosis mechanisms.
For example, in September 2022, the American Gastroenterological Association (AGA) launched Trust Your Gut, an awareness campaign, aimed at making people well informed about bowel symptoms to promote early diagnosis of related disorders. Such initiatives will further boost the awareness levels, thereby contributing to industry growth.
Ingestible sensors are typically small, electronic devices that can be swallowed or ingested by an individual to collect specific physiological data from within the body and transmit it to an external receiver or device for analysis. They are primarily used in healthcare for various applications such as medical diagnostics, disease monitoring, drug delivery tracking, and personalized health management.
Ingestible Sensors Market Trends
Ingestible sensor devices with remote monitoring capabilities allow healthcare providers to remotely monitor patient health status, track treatment progress, and intervene proactively in case of abnormalities or emergencies, improving patient care outcomes.
Ingestible Sensors Market Analysis
The market by component is categorized into sensors, wearable patch/data recorder, and software. The sensors segment dominates the market with a revenue of USD 459.4 million in 2023.
The ingestible sensors market by application is categorized into medical and sports and fitness. The medical segment accounted for majority revenue share and was valued at USD 631.7 million in 2023.
The ingestible sensors market by end-use is categorized into hospitals and clinics, sports and fitness centers, pharmaceutical companies, and other end-users. The hospitals and clinics segment exceeded USD 408.7 million in 2023.
North America ingestible sensors market accounted for USD 355.6 million revenue in 2023 and is predicted to witness substantial market growth.
Ingestible Sensors Market Share
Key players focus on expanding their market presence and geographic reach through strategic investments, acquisitions, and partnerships. This includes entering new geographic markets, establishing distribution networks, and strengthening their presence in key regions with high demand for ingestible sensor technologies.
Ingestible Sensors Market Companies
Some of the eminent market participants operating in the ingestible sensors industry include:
Ingestible Sensors Industry News:
Ingestible sensors market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 to 2032 for the following segments:
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Market, By Component
Market, By Application
Market, By End-use
The above information is provided for the following regions and countries: