Published Date : 12 Apr 2023
The ingestible sensors market size will touch around USD 860 million by 2032 from accounted for USD 2,095.24 million in 2022 and is poised to grow at a CAGR of 9.31% between 2023 and 2032.
The increasing prevalence of chronic disorders such as gastrointestinal disorders, cardiovascular disease, and diabetes, the rising adoption of extensive medical applications, increasing demand for minimally invasive procedures, the rapid expansion of ingestible sensors in novel medication such as personalized drug delivery, and growing healthcare awareness drive the global ingestible sensors market growth during the forecast period.
Digestive processes are generally not easy to investigate. Nearly all known procedures require a lengthy endoscopy and it has resulted in uncomfortable for the patient and only permits a limited observation of one part of the stomach. In such cases, both medical professionals and patients will benefit from ingestible sensors. An ingestible sensor provides a patient's biological information to a doctor. Ingestible sensors are made from biocompatible materials and include a power supply, microcontroller, controller, sensors, and other components.
An ingestible sensor is a device that incorporates a wireless sensor system within a non-invasive capsule that measures the body's pH, pressure, core temperature data, and information on a patient's gastrointestinal tract while also delivering pictures of the targeted organs. Ingestible devices are installed in capsules for endoscopy, patient monitoring and control, and medication administration applications. Some of the common types of receptive sensors are those that are used for identifying different gases, monitoring drug compliance and absorption, imaging, and electrochemical signal acquisition.
They are noninvasive and real-time healthcare technology has far-reaching implications. Ingestible sensors are also known as swallowable sensors. If someone is suffering from stomach issues, these sensors help in detecting a problem before it becomes too severe. Ingestible sensors also assist doctors in obtaining all relevant information about the patient, including whether the patient is not taking any medication, is taking the incorrect medication, or is not consuming the prescribed medication. These small tools are designed to be swallowed and they will not produce an unwanted reaction. Digestible sensors and imaging capsules operate in a normal intestinal environment to comprehend normal intestinal function.
Certain dietary substrates can encourage them to demonstrate the influence of the environment on function. Ingestible sensing capsules are rapidly developing as a crucial technology with the potential to significantly affect health, nutrition, and clinical fields. Customers appreciate the non-invasive nature of these ingestible devices. The researchers demonstrated that they could utilize this technology to track the sensor as it went through the digestive tracts of huge animals in the new study. A device like this might provide an alternative to more invasive procedures like endoscopy, which is used to detect motility issues.
Additionally, the market has grown as a result of the increasing adoption of the Internet of Things in the healthcare industry. Furthermore, the increasing complexities in diagnosing and managing chronic disorders are projected to boost the global ingestible sensors market in the coming years.
Ingestible Sensors Market Report Scope:
|Market Size in 2022||USD 860 Million|
|Projected Forecast Value in 2032||USD 2,095.24 Million|
|Growth Rate||9.31% from 2023 to 2032|
|Largest Market||North America|
|Forecast Period||2023 to 2032|
|By Sensor Type||
|By Industry Vertical||
|Regions Covered||North America, Europe, Asia-Pacific, Latin America and Middle East & Africa|
North America accounted for the larger market share due to the increasing adoption of the Internet of Things (IoT), the presence of prominent market players, sophisticated healthcare infrastructure, increasing prevalence of chronic disorders, favorable government policies, and growing research to use smart pills/ intelligent pills for the management of gastrointestinal disorders.
On the other hand, the Europe market is expected to register a rapid CAGR during the forecast period due to the wide adoption of advanced technology, increasing investment in the healthcare infrastructure, and increasing incidence of chronic disorders.
Increasing prevalence of the gastrointestinal disorder
The rapidly increasing prevalence of gastrointestinal disorders is one of the crucial factors boosting the market for ingestible sensors during the forecast period. For instance, In 2022, American Gastroenterological Association (AGA) launched the campaign “Trust Your Gut”, an awareness effort aiming at reducing the period between the beginning of bowel symptoms and discussions with a healthcare professional.
According to a survey, digestive issues affect 40% of Americans' daily lives. Trust Your Gut arrives at a vital time when 60-70 million Americans were suffering from gastrointestinal (GI) problems that can cause major disruptions in everyday life, many of which can only be diagnosed by a health professional. An ingestible sensor whose location can be tracked as it passes through the digestive tract, an innovation that might help doctors detect gastrointestinal motility diseases including gastroesophageal reflux disease and gastroparesis more easily. Ingestible electronic sensors help in the recording of symptoms of gastrointestinal disorders and decrease the need for more invasive screening.
High cost of technology
The high cost of technology is projected to hamper the growth of the market. In addition, the rising technical and clinical issues are likely to limit the expansion of the global ingestible sensors market during the forecast period.
Advancement in technology
The rapid technological advancement is creating a lucrative opportunity and is expected to fuel market expansion in the coming years. The use of Internet of Things technology in healthcare and medical is significantly increasing. As a result, there is an increase in demand for the ingestible sensor. Ingestible sensors are used in capsule endoscopy, real-time patient monitoring, and controlled drug delivery applications. The rapid expansion of ingestible sensors in novel medical applications is projected to propel the growth of ingestible sensors during the forecast period.
Stringent government regulations
Stringent government regulations for ingestible sensors act as a key challenge for the growth of the ingestible sensors market during the forecast period. In addition, there are data privacy concerns while collecting and transmitting data from ingestible sensors.
In December 2019, etectRx, located in Florida, received FDA 510(k) approval for their ID-Cap System. It is an ingestible prescription system that delivers adherence event records to an external medical device. It provides the doctor or researcher with extremely valuable information. The ID-Cap System provides real-time, dose-level ingestion event verification. The ID-Capsule is a standard pharmaceutical capsule that contains the ID-Tag, an ingestible sensor that, after being digested and activated by the patient's stomach fluid, emits a very low-power digital message from within the body.
Major Key Players:
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