Ingestible Sensors Market - Forecasts from 2024 to 2029

Ingestible Sensors Market - Forecasts from 2024 to 2029

The ingestible sensors market is expected to grow at a CAGR of 9.10%, reaching a market size of US$1,092.077 million in 2029 from US$706.603 million in 2024.

Ingestible electronic systems comprise a biocompatible microprocessor, power supply, sensors, and other components, enabling the device to communicate with a mobile application for diagnosis and monitoring. These capsule-sized devices possess the potential to screen for diseases that are difficult, if not impossible, to detect at an early stage using other methods. Furthermore, they can also reduce the facility and labour expenses typically associated with multiple procedures and offer a foundation for epithelial-targeted therapeutic interferences. These technological advancements can make disease monitoring and treatment for various conditions far more effective, enabling patients to live longer and healthier. Increased chronic diseases and advancing technologies will promote market growth in the forecasted period.

Furthermore, ongoing scientific and technological advancements that have resulted in the creation and development of tiny camera pills that are widely used in ingestible sensors as well as the introduction of cutting-edge sensor technologies by major players are significantly expanding the market's growth prospects. For example, in December 2022, engineers announced that they had created an ingestible biosensing system that is pill-shaped, battery-free, and provides real-time, continuous monitoring of the intestinal environment.

Ingestible Sensors Market Drivers:

The increasing prevalence of chronic health conditions due to growing sedentary lifestyles

Sedentary lifestyles caused by a lack of physical activity, changing dietary habits, and increasing desk work are contributing to rising associated health risks. According to the World Health Organization's Global Action Plan of Physical Activity 2018-2030, approximately one out of every four adults and three out of every four youngsters fail to meet the organization's physical activity standards. Additionally, issues like better economic growth and moving to towns from villages, therefore creating the urban life seen today, modern transport systems have resulted in inactivity rates reaching 70% in certain countries.

Ingestible Sensors Market Geographical Outlook

North America is expected to hold a significant market share in the forecast period.

The North American region is expected to hold a large market share for this sector. Furthermore, concerning technological advancements and the increasing application of the Internet of Things (IoT) in healthcare, the United States leads the pack. IOT essentially allows for online tracking, monitoring, and control of people’s daily activities, such as taking medication. It is a new wave of digital medication in the healthcare industry. Scientific and technological advancements that led to the creation of tiny camera pills—widely utilized in these products—will probably accelerate the region's growth. Its growth is also allegedly being fueled in large part by an increase in gastrointestinal and chronic illnesses.

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Report Coverage:

Historical data & forecasts from 2022 to 2029
Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
Competitive Positioning, Strategies, and Market Share Analysis
Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)

Key Market Segmentation:

The ingestible sensors market is segmented and analyzed as below:

By Sensor Type

Temperature
Image
pH
Pressure

By End-User Industry

Healthcare
Sports & Fitness

By Geography

North America
United States
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
UK
France
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
India
Indonesia
South Korea
Others