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Ingestible Sensor Market 2018-2023 – Sales Revenue, Grow Pricing and Industry Growth Analysis
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An ingestible sensor is a digital pill which is expected to revolutionize the healthcare sector as it delivers high-quality, low-cost medical monitoring, and diagnosis. The sensors provide daily medical assessment, medical adherence, real-time monitoring, internal body images, and many other functions for medical diagnosis and management. Once the Ingestible Sensors Market are swallowed in the form of digital pills, they get activated by electrolytes present within our body. Hence, it is expected that these sensors will positively impact the healthcare industry.
October 2018 - Proteus Digital Health, collaborated with Otsuka Pharmaceutical Co. Ltd. to manufacture digital medicines especially for monitoring mental health. This collaboration enables the advancements in medical products to serve patients suffering from mental illness. Additionally, a few tables are embedded with ingestible sensors such as Ingestible Event Marker (IEM) sensor which is made up of food grains and ingredients.
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The prominent players in the ingestible sensor market are RF Co. Ltd. (Japan), Proteus Digital Health (US), CapsoVision Inc. (US), Medtronic (US), Olympus Corporation (Japan), IntroMedic Co. Ltd. (South Korea), MC10 (US), Otsuka Holdings (Japan), AdhereTech (US) and Microchips Biotech Inc. (US).
The regional analysis of ingestible sensor market is considered for North America, Europe, Asia-Pacific, and the rest of the world.
North America is expected to dominate the ingestible sensor market with the largest market share due to the growing population of patients in countries such as the US, Canada, and Mexico who are the early adopters of new technology. The US food and drug administration (FDA) approved Abilify MyCite, a digital pill embedded with an ingestible sensor to track the health of patients via a smartphone.
Europe is expected to be the second largest market owing to the encouragement of the e-health strategy by the European government. China, Japan, India, and other countries in the Asia-Pacific are experiencing an increasing demand for digital pills and ingestible sensors owing to increasing expenditure in healthcare and medicines along with adoption of the latest technology and devices in the healthcare sector. Hence, Asia-Pacific is expected to be the fastest growing region in the ingestible sensor market over the assessment period.
The ingestible sensor market is segmented on the basis of component, vertical, application, and region. These segments are further sub-segmented into the following:
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