Ingestible Sensors Market Share, Size, Trends, Industry Analysis Report, By Component (Sensor, Wearable Patch, and Software); By Sensor Type; By Vertical; By Region; Segment Forecast, 2024 - 2032
- Published Date:Jan-2024
- Pages: 117
- Format: PDF
- Report ID: PM3291
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global ingestible sensors market was valued at USD 904.64 million in 2023 and is expected to grow at a CAGR of 10.7% during the forecast period. Rapid increase in the global geriatric population, that leads to the highly increased adoption of remote health monitoring and continuously rising prevalence of variety of lifestyle-related disorders like obesity and diabetes are among the key factors influencing the demand for innovative ingestible sensors including sensors-embedded smart pills.
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Moreover, high investments for the development for advanced and effective healthcare solutions, with an aim to improve the overall patient experience and offering them best diagnosis with efficacy are further creating great opportunities for the market.
For instance, in January 2023, Intricon, introduced new biosensors center of excellence for medical devices and expanding its capabilities into vertically integrated business unit. The company announced about its plan to expand its biosensors experts’ team to boost their expertise in high-density microelectronics, ultra-low power, miniature molding, and miniaturization.
Moreover, the extensive product usage in wide range of medical applications like drug delivery, as these devices are non-invasive and comes with a user-friendly design that helps in achieving the real-time diagnosis and patient health monitoring, are gaining significant traction and popularity around the world. However, the growing number of stringent government regulations and continuously growing need for the expensive technology and high costs associated with the product designing and development are the major factors restraining the global market growth.
The outbreak of the COVID-19 pandemic has significantly impacted the growth of the ingestible sensors market. To get control on the deadly coronavirus spread across the globe, has resulted in lockdowns and closure of various manufacturing units and high disruptions in the global supply chain. Due to this, demand and supply of ingestible sensors has severely affected. However, increased prevalence among patients and sports persons towards the health monitoring to be aware regarding its health and well-being has fueled the market.
Industry Dynamics
Growth Drivers
The extensive rise in the integration of Internet of Things (IoTs) within the healthcare sector and increasing number of applications of this advanced technology in the field of medicine along with the rising popularity of wearable technology-based products including smart watches and activity trackers which enable people to stay connected in a very efficient manner, are among the prominent factors driving the global market growth.
Furthermore, the widespread use of the ingestible sensors in the capsule endoscopy, & controlled drug delivery due to its high accuracy in performing the efficient diagnosis tests along with the awareness towards ensuring medication adherence are also likely to create significant growth opportunities in the near future.
Report Segmentation
The market is primarily segmented based on component, sensor type, vertical, and region.
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By Component |
By Sensor Type |
By Vertical |
By Region |
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Sensor segment accounted for the largest market share in 2022
The growth of the segment can be attributed to continuous rise in the investment in R&D activities and introduction to various types of new product launches. The sensor technology has gained significant traction in the last few years, as it helps in reducing the number of hospital visits and re-hospitalization along with the growing prevalence for round-the-clock remote monitoring, are further anticipated to boost the growth of the segment market.
The wearable patch segment is expected to grow at significant growth rate over the projected period, which is mainly driven by rising adoption for this product across large number of patients for monitoring diseases including various types of chronic diseases like cancer, arthritis, diabetes, kidney disease, and Alzheimer’s.
Image sensor segment is expected to witness highest growth over the study period
Image sensor is expected to grow at a high CAGR during the forecast period, which is highly attributable to its significantly growing adoption and prevalence in the healthcare sector and especially in the endoscopy procedures. It allows the healthcare professionals to view clear images of several types of tissues and organs inside a human body with the help of these sensors, that results in accurate and quick diagnosis of critical diseases, which in turn, influencing the demand and growth of the segment over the next coming years.
The temperature sensor segment held the majority market revenue share, on account of widespread use of these technique in numerous verticals including aerospace and healthcare for measuring the body temperature of astronauts and patients as well. The surge in the investment in product’s development mainly in highly developed and well-established economies like US and Canada coupled with huge adoption of the innovated medical products in these countries are augmenting the market growth.
Medical segment held the significant market share in 2022
The medical segment held the largest market with a holding of significant market share, owing to growing number of applications in the medical sector for diagnosing and monitoring the patient health and it also allows simplified monitoring for variety of parameters including temperature and pressure as compared to the invasive techniques and processes that requires meticulous procedures.
The sports & fitness segment is likely to emerge at fastest growth rate over the course of study period, which is largely attributed to constant observation of the melatonin levels and blood pressure. In addition, the growing proliferation for ingestible sensors among the athletes to effectively monitor their food interactions and record the relevant data without any need of using complication processes, thereby propelling the market demand and growth.
North America region dominated the global market in 2022
North America region dominated the global market for ingestible sensors, and is expected to maintain its dominance throughout the anticipated period. The regional market growth is mainly attributed to high technological advancements and robust presence of some of world’s largest manufacturers along with the continuous rise in innovations in the field of science and technology. Moreover, the growing focus of major research institutions towards the use of smart pills for the effective management of chronic and several gastrointestinal diseases, is further likely to result in significant market expansion in the near future.
Asia Pacific region is projected to exhibit highest growth rate over the coming years, owing to significant increase in the healthcare spending and surge in the number of patients suffering form chronic diseases, as a result of tremendous growth in the population in countries like China, India, and Indonesia. The widespread adoption of these types of sensors in the region for diagnostics and therapeutic purposes and change in the people lifestyles that results in several health problems due to unhealthy eating habits and physical inactivity, is further stimulating the growth of the market.
Competitive Insight
Some of the major players operating in the global ingestible sensors market include Olympus Corporation, Otsuka Holdings, CapsoVision, JINSHAN Science, Check-Cap, Medtronic, HQ Inc., Proteus Digital Health, Given Imaging, Medimetrics Personalized Drug Delivery, Microchips Biotech, Atmo Biosciences, IntroMedic, Oracle, & LeviFarm.
Recent Developments
- In April 2022, AARDEX announced about its strategic partnership with the etectRx Inc., that combines the etectRx’s ID-Cap ingestible System and AARDEX’s MEMS Adherence Software to track the medication-taking behaviors. They both will provide a precise and holistic method for measuring adherence to solid form dose medications.
- In March 2022, Royal Philips, announced the launch of its new Azurion System with FlexVision & Ambient Experience. The new technology is mainly designed to allow the members of interventional team to easily adapt to room’s ambient lighting & sound for improving the overall patient & staff experience.
Ingestible Sensors Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 999.18 million |
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Revenue forecast in 2032 |
USD 2,256.57 million |
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CAGR |
10.7% from 2024– 2032 |
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Base year |
2023 |
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Historical data |
2019– 2022 |
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Forecast period |
2024– 2032 |
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Quantitative units |
Revenue in USD million and CAGR from 2024 to 2032 |
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Segments covered |
By Component, By Sensor Type, By Vertical, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
Olympus Corporation, Otsuka Holdings Co. Ltd., CapsoVision Inc., JINSHAN Science & Technology, Check-Cap, Medtronic PLC, HQ Inc., Proteus Digital Health Inc., Given Imaging Ltd., Medimetrics Personalized Drug Delivery B.V., Microchips Biotech Inc., Atmo Biosciences, IntroMedic Co. Ltd., Oracle, RF Co. Ltd., and LeviFarm S.L. |
FAQ's
The ingestible sensors market report covering key segments are component, sensor type, vertical, and region.
Ingestible Sensors Market Size Worth $2,256.57 Million By 2032.
The global ingestible sensors market expected to grow at a CAGR of 10.7% during the forecast period.
North America is leading the global market.
key driving factors in ingestible sensors market are high investments for the development for advanced and effective healthcare solutions.
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