The global ingestible sensors market was estimated to be USD 400 million in 2015.The major driving forces for the medical sensors market include the following: the demographic shift towards the geriatric population, increased patient medication adherence, escalation in lifestyle-related disorders, and the development of favorable reimbursement options.
The launch of the new generation ingestible sensors has enabled the visualization of internal anomalies as well physiological monitoring of patients without the use of invasive techniques, which apart from discomfort, cause infections and contaminations.
With an upsurge in the geriatric population, the need to provide advanced healthcare solutions proves to be a vital demand to be met by healthcare companies. With a majority of the aging population requiring routine monitoring and follow-up on medication, the ingestible sensors provide a complete check on how drug interactions affect vital functions. The escalation in the lifestyle-related diseases, such as cardiac diseases, atherosclerosis, diabetes, and obesity also require serious medical interventions.
These devices allow easy analysis and monitoring of the state of the disease along with, tracking alterations in patient response to medication. With patient medication adherence having amplified drastically with the use of the ingestibles, physicians and clinicians can better track therapy outcomes to new drugs and drug delivery technologies with confidence, thus permitting superior results. With favorable reimbursement options being offered by various governments and insurance agencies, the availability of improved, technologically advanced medical devices have increased.
The major restraints for this market are technical and clinical constraints coupled with the high-cost of technology. The manufacturing and designing of ingestible sensors can be massively expensive and require advanced integrated technology as well as greater research and development infrastructure. The technical and clinical restraints include malfunctioning of the sensors, which engender further complications.
U.S. ingestible sensors market, by sensor type, 2013 - 2024 (USD Million)
On the basis of its type, the ingestible sensors are categorized into temperature, pressure, pH, and image sensors. Temperature sensors are used to monitor and measure temperatures within the human body to ascertain the exact delivery of a drug. Pressure sensors are used to analyze the internal dynamics of the gastrointestinal system while the results are sent wirelessly to a data recorder, worn on the body externally, and these results are later decoded by the designated software.
pH sensors are used extensively to monitor the pH levels inside the gastrointestinal system as acidic levels and alkaline levels in the stomach differ from that of the lower intestine and may significantly alter the dispersion of a pharmaceutical drug. Image sensors find prominent medical applications as they enable capturing of images inside the GI tract, from where the data is transmitted over a wireless network for further data analysis. The most widely used sensors are image sensors and temperature sensors, with both segments holding the largest market share, followed by pressure and pH sensors.
The various kinds of components with a sensor include the sensor itself, a wearable data recorder, and software. The sensor may be a pressure, temperature, pH or image sensor as per the requirement. The collected data is presented by the software in an easily comprehensible format that facilitates the interpretation of the recorded data.
On the basis of verticals, the ingestible sensors market is categorized into medical, sports and fitness, and others. The medical vertical has been the most profit garnering segment due to the extensive use of these sensors in a vast array of health conditions. The extensive use of these devices in the medical segment is attributable to its patient monitoring role in the large count of individuals afflicted with chronic diseases and its early detection capability, such as the detection of various intestinal ailments without employing invasive procedures.
They are also used on a large scale in the sport and fitness segments as they permit monitoring of body temperature and blood pressure levels with more accuracy than traditional medical devices. The other uses of these sensors comprise experimental studies and in animal monitoring of various vital parameters.
The major regions studied in this report are North America, Europe, Asia Pacific, Latin America, and MEA. This industry is estimated to be led by the North America region with technological innovations growing at a steady pace in this region and the presence of an advanced infrastructure required for the development of such medical devices.
Additionally, with the soaring geriatric population count and the increasing number of patients with chronic diseases, the incorporation of ingestible sensors for diagnostic and monitoring purposes, on the whole, has increased substantially in this region. The region that is expected to gain the maximum profits in the forecast period is the APAC region with the growing number of individuals adopting the use of these sensors for medical use in hospitals and clinics.
Competitive Market Share Insights
Some leading players of the ingestible sensors market include Proteus Digital Health, Inc., CapsoVision, Inc., Given Imaging, Inc., Olympus Corporation, and Medimetrics Personalized Drug Delivery B.V. The majority of these companies in the ingestible sensors market have a strong base in research and development allowing innovative technology to be used and implemented into the designing of these sensors.
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