INGESTIBLE SENSORS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The global ingestible sensors market is estimated to be valued at USD 658.2 Mn in 2024 and is expected to exhibit a CAGR of 13.4% during the forecast period (2024-2031). The global ingestible sensors market is growing at a rapid pace primarily due to the increasing demand for remote patient monitoring solutions. Ingestible sensors, also known as smart pills, are digitally-enabled sensor tablets that are swallowed and can detect diagnostics within gastrointestinal tract or other organs. These miniature sensors transmit medical and biochemical information via Bluetooth to smartphones for interpretation by healthcare professionals. With the growing prevalence of chronic diseases and focus on preventive healthcare, ingestible sensors are emerging as game changing technology for continuous health monitoring. The market is expected to further gain traction with continued technological advancements leading to development of miniature sensors and stronger wireless connectivity options.

Market Dynamics:

The global ingestible sensors market is driven by factors such as rising geriatric population susceptible to chronic diseases, increasing focus on preventive healthcare, and growing adoption of advanced digital healthcare technologies. However, high development costs of ingestible sensors and data privacy concerns pose challenges to market growth. Major opportunities lie in the integration of ingestible sensors with cloud technology, development of multi-functional ingestible devices, and adoption in pharmaceutical drug testing. Geographically, North America currently dominates the market due to rapid technological advancements and availability of supportive healthcare infrastructure in the region. Asia Pacific is expected to offer lucrative growth opportunities in the coming years.

Key Features of the Study:

• This report provides an in-depth analysis of the global ingestible sensors market, and provides market size (USD Mn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global ingestible sensors market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this includes CapsoVision, Inc., BodyCAP, etectRx, Koninklijke Philips N.V., Medtronic, Otsuka Holdings Co., Ltd., IntroMedic, JIHNSAN Science & Technology, Check-Cap, Proteus Digital Health Inc., and HQ, Inc.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global ingestible sensors market caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global ingestible sensors market

Detailed Segmentation-

• By Type:
  • Imaging Capsules
  • Temperature Sensing Capsules
  • Medication Monitoring Pills
  • Others
• By End-use:
  • Healthcare
  • Sports & Fitness
  • Others
• By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa

Company Profiles:

• CapsoVision, Inc.
• BodyCAP
• etectRx
• Koninklijke Philips N.V.
• Medtronic
• Otsuka Holdings Co., Ltd.
• IntroMedic
• JIHNSAN Science & Technology
• Check-Cap
• Proteus Digital Health Inc.
• HQ, Inc.