Westford, USA, July 05, 2023 (GLOBE NEWSWIRE) -- The global Ingestible Sensor market size is expected to reach USD 1800 million by 2030 and exhibit a CAGR of 10.9% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing adoption of digital health technologies and wearable devices, rising prevalence of chronic diseases and the need for remote patient monitoring, advancements in sensor technology and miniaturization, growing demand for personalized and preventive healthcare solutions, expanding elderly population and the need for continuous health monitoring, emphasis on early detection and intervention in disease management, integration of ingestible sensors with healthcare apps and platforms, support from regulatory bodies for innovative medical technologies, is fueling the market's growth.
According to SkyQuest's latest global research of the Ingestible Sensor market, increasing focus on real-time monitoring and data collection, advancements in wireless communication and connectivity, integration of artificial intelligence and machine learning in data analysis, expanding applications in drug delivery and personalized medicine, emergence of smart pills with advanced features, development of biodegradable and environmentally friendly sensor materials, growing interest from healthcare providers and insurance companies, emphasis on privacy and data security in sensor technologies, are the trends that aid in the market's growth.
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Browse in-depth TOC on "Ingestible Sensor Market"
- Pages - 259
- Tables - 90
- Figures -76
Ingestible sensors are small, capsule-sized devices that can be swallowed and transmit data about the body's internal environment to a receiver outside the body. They are used to monitor a variety of health conditions, including gastrointestinal disorders, cardiovascular disease, and cancer. These are typically made of biocompatible materials, such as plastics or metals, and contain sensors that can measure a variety of parameters, such as pH, temperature, pressure, and electrical activity. They also contain a transmitter that sends the data to a receiver outside the body. The receiver can be a smartphone, a tablet, or a computer.
Prominent Players in Ingestible Sensor Market
- Aleva Health
- Abiomed
- Capsula
- CureApp
- Entelechon
- Esophagus Electronic Technology
- Gestalt Medical
- Intelligent Medical Objects
- Intellias
- LifeSensors
- Mio Global
- Microchips Biotech
- Proteus Digital Health
- Q Biometrics
- Scipher Medicine
- SmartPill
- Telix Health
- Verily
- VitalConnect
- Zebra Medical Vision
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Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 819 million |
| 2030 Value Projection | 1800 million |
| CAGR | 10.9% |
| Segments Covered |
Vertical Medical, Sports & Fitness |
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Biosensors Demand to Grow Substantially in the Forecast Period
Biosensors dominated the global online market due to their wide range of applications. It offer high precision and accuracy in measuring biological and chemical information. They can detect and quantify specific substances in the body, providing valuable insights into a person's health status. This accuracy makes biosensors a preferred choice for medical and clinical applications.
Medical Monitoring is the Leading Application Segment
In terms of application, medical monitoring is the leading segment due to growing emphasis on remote patient monitoring. In addition, the prevalence of chronic diseases, such as diabetes, cardiovascular disorders, and gastrointestinal conditions, is on the rise globally. Ingestible sensors can provide valuable insights into disease progression, treatment effectiveness, and patient adherence, thereby driving the demand for medical monitoring applications.
North America is the leading Market Due to the Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. has been at the forefront of adopting and implementing digital health solutions. The region's strong focus on leveraging technology to improve healthcare outcomes has resulted in early adoption and integration of ingestible sensors for medical monitoring and other applications.
A recent report thoroughly analyzes the major players operating within the Ingestible Sensor market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Ingestible Sensor.
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Key Developments in Ingestible Sensor Market
- In March 2023, Entelechon was acquired by VitalConnect for $100 million. Entelechon is a company that develops ingestible sensors that can be used to monitor gastrointestinal health. VitalConnect is a company that develops remote patient monitoring solutions. This acquisition will allow VitalConnect to expand its portfolio of remote patient monitoring solutions and to offer a more comprehensive solution for patients with gastrointestinal disorders.
Key Questions Answered in Ingestible Sensor Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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