Global Ingestible Sensors Market Size, Share & Industry Trends Analysis Report By Vertical (Medical, Sports & Fitness), By Component (Sensor, Wearable Patch/Data Recorder and Software), By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Ingestible Sensors Market
Market Report Description
The Global Ingestible Sensors Market size is expected to reach $1.5 billion by 2028, rising at a market growth of 10.9% CAGR during the forecast period.
An ingestible sensor is an essential diagnostic and monitoring tool for patients. Ingestible sensors are a technologically innovative product of the digital medical business. Capsules have the capacity to monitor numerous biological processes and activities, including medication checks, heart rate, and blood pressure. It consists of sensors, a data recorder, as well as software.
These ingestible sensors assist patients in receiving real-time information and addressing questions that are sometimes unanswered by physicians. The ingestible sensor is activated as soon as the tablet containing the sensor is ingested. This pill transmits signals to the patch and helps to determine the duration of pill consumption. As the data and information are recorded, the input is displayed with the use of a mobile device downloadable connected discover application.
With the aid of this application, patients may examine their data and act appropriately, allowing them to determine if they need to see a doctor, take their medications on time, etc. The noninvasive nature of these ingestible gadgets makes them highly appealing to customers. With the increasing availability of Internet-connected smartphones, the data generated by this technology may be easily viewed and accessed online by both users and doctors.
The outputs reflect the condition of gut health and abnormalities, as well as the impact of diet, medicinal supplements, or environmental changes on the digestive system. The passage of these ingestible sensors via the intestinal lumen grants them access to every particular organ within the gastrointestinal system. Consequently, ingestible sensors enable the collection of pictures and the monitoring of luminal fluid and the contents of each gut segment, including electrolytes, metabolites, enzymes, hormones, and microbial communities. Consequently, a vast amount of information on the functionality as well as the state of health of individuals may be gathered via crucial gut indicators.
COVID-19 Impact Analysis
The COVID-19 pandemic severely impacted the various economies as a whole. Several businesses all over the world were majorly demolished due to the abrupt emergence of the outbreak. In addition, governments all over the world-imposed lockdowns within their countries in order to regulate the spread of the pandemic. Due to these lockdowns, various manufacturing facilities, including ingestible sensor manufacturing units, were temporarily closed. Owing to this, manufacturers incurred significant losses. Moreover, the COVID-19 had a detrimental impact on the market due to interruptions in the supply chain and the temporary shutdown of industrial facilities.
Market Growth Factors
Increasing integration of the Internet of Things technology within the healthcare industry
The field of medicine is witnessing a period of rapid technological advancement. In addition to this, there are now more people working in the health care and front-line worker industries. The application of Internet of Things technology in the field of medicine and healthcare is becoming increasingly widespread. Because of this, there has been an upsurge in research on wirelessly observed therapy and intelligent tablets. An ingestible sensor linked to a connected mobile device in order to monitor TB drug consumption can offer efficient outcomes to the patient as well as their doctor.
Rising popularity of the wearable technology throughout the world
The popularity of wearable technology is increasing all over the world in several industries, including the healthcare sector. These products, from activity trackers to smartwatches, enable people to stay connected in an excellent manner. Due to the numerous convenient methods to measure fitness metrics, receive notifications, or even make payments, wearables are becoming increasingly popular. Smartwatches, hearing aids, fitness trackers, medical gadgets, smart glasses, navigation devices, and wearable patches are examples of wearable technology.
Marketing Restraining Factor:
Prevalent risk of capsule retention in the body of the consumer
Capsule retention, or CR, is a condition in which a capsule or tablet stuck in the gastrointestinal tract for more than 2 weeks. A lot of people having small bowel capsule endoscopy have CR. Immediate identification of CR is essential due to its clinical relevance. CR can be alleged in all asymptomatic patients who are not able to excrete the capsule within 15 days of capsule ingestion, as well as all patients with obstructive or perforation-related symptoms who have not excreted the capsule, regardless of the time between symptom onset and capsule ingestion.
By Vertical, the Ingestible Sensors Market is categorized into Medical, Sports and Fitness, and Others. In 2021, the sports and fitness segment registered a substantial revenue share of the ingestible sensors market. Constant monitoring of blood pressure, melatonin levels, and other vital bodily information is necessary for determining the health of players and sportsmen. They also aid athletes in monitoring dietary interactions and accurately recording essential data without using intrusive procedures. All of these reasons are increasing product demand in this industry, supporting the growth of the segment.
On the basis of Component, the Ingestible Sensors Market is segregated into Sensor, Wearable Patch/Data Recorder, and Software. In 2021, the sensor segment acquired the largest revenue share of the ingestible sensors market. The growth of the segment is significantly increasing as a result of the extensive investments in R&D and new product releases. The ID-Cap system is a prescription-based ingestible system that transmits adherence event records to a medical device with an external connection. It has a sensor that transmits a signal when it detects stomach juices.
Temperature Sensor Outlook
Based on Sensor Type, the Ingestible Sensors Market is segmented into Temperature Sensor, Pressure Sensor, pH Sensor, and Image Sensor. In 2021, the temperature sensor segment procured the biggest revenue share of the ingestible sensors market. It is a commonly used technology in several industries, such as healthcare and aerospace, to measure body temperature within patients or astronauts, respectively, in order to identify any severe temperature fluctuations that, if undiscovered, might prove fatal. Due to the high cost-efficiency of technology, the availability of well-equipped labs, as well as the early adoption of advanced medical devices in developed countries, research and development expenditures for the product are higher in developed countries.
|Market size value in 2021||USD 727.3 Million|
|Market size forecast in 2028||USD 1.5 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 10.9% from 2022 to 2028|
|Number of Pages||196|
|Number of Tables||360|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Component, Vertical, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region-Wise, the Ingestible Sensors Market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2021, North America accounted for the biggest revenue share of the ingestible sensors market. The growth of the regional market is expanding at an exponential rate because of the increasing technological developments as well as the strategic presence of major market players in the region. Innovations in science and technology that led to the creation of microscopic camera pills, which are extensively employed in these items, are anticipated to stimulate the region's economic development.
Free Valuable Insights: Global Ingestible Sensors Market size to reach USD 1.5 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Medtronic PLC, Olympus Corporation, Check Cap Ltd., Dassault Systemes (Medidata Solutions, Inc.), etectRx™, Inc., H.Q., Inc., Otsuka Pharmaceutical Co., Ltd., CapsoVision, Inc., IntroMedic Co., Ltd. and Chongqing Jinshan Science and Technology Group Co., Ltd.
Strategies deployed in Ingestible Sensors Market
- Feb-2022: Eurofins Clinical Testing Lux Sarl, a subsidiary of Eurofins Scientific acquired Genetic Testing Service, (Gentis), the market leader in specialized genetic analysis in Vietnam. With the acquisition, Eurofins focused on expanding its reach in Asia and complemented its worldwide network of clinical diagnostics laboratories working on technical and advanced genetic testing.
- Jan-2022: Inotiv acquired Integrated Laboratory Systems, a portfolio company of Sier Capital Partners. Through the acquisition, Inotiv aimed to diversify the company's in vivo and in vitro toxicology services, comprising of prominent pathology and toxicology expertise. The acquisition increased the company's services into genomics, bioinformatics, and computational toxicology which further extended its market reach and created effective new cross-selling possibilities.
- Sep-2021: Labcorp took over operating assets and intellectual property (IP) of the autoimmune business unit of Myriad Genetics, together with Vectra rheumatoid arthritis (RA) assay. The inclusion of Vectra testing abilities to Labcorp products' range presented the tremendous potential for the company to develop the test’s availability and make Labcorp a single-source diagnostics solution for RA providers.
- Aug-2021: Inotiv announced the acquisition of Gateway Pharmacology Laboratories, a preclinical contract research organization specializing in cardiovascular pharmacology studies. Following this acquisition, Inotiv augmented its array of in vivo abilities and integrated laboratory support assistance to include cardiovascular and renal pharmacology.
- Jul-2021: Gentronix took over Big Blue transgenic mutation assay models by Bioreliance, the largest provider of outsourcing services focused on the rapidly growing biologics sector of the pharmaceutical industry. Through this acquisition, Gentronix aimed to double its revenues and augment its genetic toxicology capabilities in vitro skin and in vitro ocular toxicity testing.
- Jun-2021: Charles River Laboratories acquired Vigene Biosciences, a premier, a gene therapy contract development and manufacturing organization. Through the acquisition, Charles River focused on augmenting its extensive cell and gene therapy range by utilizing the gene therapy expertise of Vigene Biosciences. The increased portfolio span incorporated each of the major CDMO platforms – cell therapy, viral vector, and plasmid DNA production.
- Jan-2021: Charles River Laboratories partnered with Cypre, a biotechnology company that utilizes 3D hydrogel technology to advance the knowledge of the tumor microenvironment and predict therapeutic usefulness. This partnership helped the former company's clients with access to Falcon-X, Cypre’s proprietary 3D tumor model platform. Moreover, the partnership broadened Charles River’s 3D in vitro testing services to further optimize immuno-oncological methods for its clients.
- Jan-2019: Charles River Laboratories formed an agreement with Toxys, a company that provides innovative in vitro toxicity screening solutions. Under the agreement, CRL focused on providing ToxTracker, a range of assays that enable rapid carcinogenicity toxicity hazard identification in novel and existing drugs, chemicals, and other substances in North America. The agreement equipped CRL's client base with the utilization of the ToxTracker assay that can assist in mitigating the risk of regulatory rejection by illustrating the exact mechanism of genotoxicity.
Scope of the Study
Market Segments Covered in the Report:
- Sports & Fitness
- Temperature Sensor
- Image Sensor
- pH Sensor
- Pressure Sensor
- Wearable Patch/Data Recorder
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Medtronic PLC
- Olympus Corporation
- Check Cap Ltd.
- Dassault Systemes (Medidata Solutions, Inc.)
- etectRx™, Inc.
- H.Q., Inc.
- Otsuka Pharmaceutical Co., Ltd.
- CapsoVision, Inc.
- IntroMedic Co., Ltd.
- Chongqing Jinshan Science and Technology Group Co., Ltd.
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