Published Date: 31-Oct-2022
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According to a new report, published by KBV research, 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.
The Medical market is leading segment in the Global Ingestible Sensors Market by Vertical in 2021; thereby, achieving a market value of $868.6 Million by 2028. Ingestible sensors are commonly utilized in the medical field, where they aid in illness diagnosis and health monitoring, which is boosting the growth of this segment. In contrast to invasive approaches, which need precise processes and surgical interventions, ingestible sensors simplify the monitoring of several parameters like temperature, pressure, and pH.
The Wearable Patch/Data Recorder market is anticipated to grow at a CAGR of 11.5% during (2022 - 2028). Increasing patient population use of wearable patches for illness monitoring is anticipated to accelerate the growth of the wearable patch/data recorder segment. Additionally, the incidence of diabetes is increasing in several countries throughout the world. Furthermore, the rising prevalence of chronic diseases, such as cancer, diabetes, arthritis, Alzheimer's disease, chronic kidney disease, as well as chronic pain is anticipated to drive the growth of this segment of the market.
The North America market dominated the Global Ingestible Sensors Market by Region in 2021; thereby, achieving a market value of $543.5 Million by 2028. The Europe market would witness a CAGR of 10.8% during (2022 - 2028). Additionally, The Asia Pacific market is poised to grow at a CAGR of 11.5% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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