The global ingestible sensors market is anticipated to grow at a significant CAGR of 12.8% during the forecast period. Ingestible sensors are used for capsule endoscopy, patient monitoring, and controlled drug delivery application in the medical sector. Ingestible sensors can help in tracking the pH and temperature of a patient's gastrointestinal tract and also provide images of the targeted organs. These are also known as intelligent pills. The rising cases of chronic diseases and medical adherence are driving the growth of the global ingestible sensors market. For instance, according to the Royal Melbourne Institute of Technology, one out of every five people suffers from a gastrointestinal disorder in their lifetime and 30% of them remain undiagnosed.

The accuracy requirement in invasive diagnosis tests is creating huge opportunities for innovation in ingestible sensors. The increasing cases of gastroparesis in the developed nations including the US and UK are giving strength in the market growth. However, the high requirement of R&D investment for the designing of miniaturized microelectronics is restraining the growth of the market. Additionally, stringent government regulations are another hurdle in the development of the market.

Impact of COVID-19 Pandemic on Global Ingestible Sensors  Market

The outbreak of COVID-19 had greatly impacted the global ingestible sensors market. According to the research of the Swedish Medical Center, COVID-19 had reduced around 83% of the total endoscopy volumes globally. Out of this 82% reduction was recorded in upper endoscopy and 85% was recorded in lower endoscopy. As endoscopy is the major market of ingestible sensors, thus it had experienced major trust during the pandemic. However, Oceania had recorded normal endoscopy procedures during the COVID-19 pandemic.

Segmental Outlook 

The global ingestible sensors  market is segmented based on sensor type and application. Based on sensor type, the market is divided into temperature sensor, pressure sensor, pH sensor, and image sensor. Apart from this, by application, the market is segmented into medical, sports & fitness, and others.

Global Ingestible Sensors  Market Share by Application, 2020 (%)

The Outbreak of COVID-19 had given Upthrust to the Temperature Segment of the Global Ingestible Sensors Market

The temperature sensors hold the major share in the global ingestible sensors market attributing to their increased use in the COVID-19 crisis. The imaging sensors are expected to grow fastest during the forecast period as it gives a clear view of the targeted organ of the patient to the physician while diagnosing critical diseases. Pressure sensors are emerging in the market as they are used in smart pills and capsule endoscopy to determine biomedical changes around various organs of the human body.

The emerging application of ingestible sensors in sports, astronauts, animal care, mining, fire fighting, and the military for the monitoring of core body temperature as compared with the external temperature of the working environment is generating new opportunities for the growth of the market. Abilify MyCite is the first pill approved by the U.S. Food and Drug Administration for the medication monitoring which is used by physicians on the patients suffering from mental disorders.

Regional Outlooks

The global ingestible sensors  market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others, and the Rest of the World (the Middle East and Africa, and Latin America). 

Global Ingestible Sensors  Market Growth, by Region 2021-2027

North America and Europe are the Dominant Market of Ingestible Sensors

North America and Europe held the largest market share in the global market owing to the growing need for smart pills and monitoring devices. The high prevalence of lifestyle-related diseases in the U.S. has further boosted the growth of the Ingestible sensors market in North America. The Centers for Disease Control and Prevention estimated in 2017 that 30.3 million peoples were living with diabetes in the US.  The rapidly developing economies of Asia Pacific are projected to witness the highest growth rate during the forecasted period. 

The growth in the Asia Pacific market is backed by the growing awareness about the diagnosis and treatment options for chronic disease issues coupled with the rising prevalence of lifestyle-related diseases such as diabetes within the countries. Along with it, efforts by government expenditure on research and funding programs by the government are helping in the growth of the Asia Pacific Ingestible market. The report includes a detailed market overview, market determinants, company profiling, sector analysis, market segmentation, geographical analysis, patent analysis, strategic recommendations, key company analysis, gap analysis, key findings, market estimations, market insights, analyst insights, and predictive analysis of the market.

Market Players Outlook

The major companies serving the global ingestible sensors market include Proteus Digital Health Inc., CapsoVision, Inc., Medtronic PLC, Olympus Corp., and HQ, Inc. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, Olympus Corp. had launched PowerSpiral in March 2019 in Europe and the Asia Pacific which have motorized rotating attachments through which the small intestine can also be endoscope.

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global ingestible sensors market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.