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Ingestible Sensor Market by Component, Type, Vertical, and Geography - Global Forecast to 2022

Ingestible Sensor Market: Global Forecast until 2022

  • March 2016
  • 109 pages
  • ID: 3688668
In this report:
The market for image sensors is expected to grow at the highest CAGR of ##.##% between 2016 and 2022, due to the growing incidence of colon cancer.
As compared to mature markets, the markets in the Asia-Pacific and MEA & Latin America are expected to grow at the highest rate in the next five years, at a CAGR of ##.##% and ##.##%, respectively, between 2016 and 2022.

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"Medication adherence driving the ingestible sensor market"

The ingestible sensor market is forecasted to grow from $198.20M in 2015 to $678.20M by 2022, at a compound annual growth rate of 20.20 percent between 2016 and 2022. The ingestible sensors market is influenced by Elements such as medication adherence, aging population, and growing frequency of lifestyle diseases, increasing healthcare expenditure, and favorable reimbursement scenario.

"Temperature sensors to lead the sector during the estimate period"

Temperature is the most important parameter for every biomedical process. In comparison to other ingestible sensors including pressure, pH, and image sensors, temperature sensors have a greater scope and it maintains the biggest industry size during the outlook period. The increasing frequency of chronic diseases and the industrial focus on real-time body monitoring are the top drivers for the increase of temperature sensors in ingestible sensors. There are various ingestible sensor systems being developed including smart pills, pill cameras, and others which incorporate temperature measurement as an important parameter. Equivalently, ultra-low-power wireless ingestible temperature sensors, in integration with other sensors, are used in the sports and fitness vertical to help athletes during the training hours, in fire-fighting, military, mining, and other sectors to track and log the core body temperature data of the workers.

"Asia-Pacific affords high-growth avenues during the estimate period"

The ingestible sensor market in Asia-Pac is anticipated to grow at a prominent double digit Compound annual growth rate during the outlook period. The presence of a favourable reimbursement scenario in Japan (JP) for capsule endoscopy procedures, which is a main factor driving the rise of the ingestible sensors market in the area. For example, in July 2013, the Central Social Insurance Medical Council in Japan (JP) approved Given Imaging's PillCam COLON for reimbursement. Olympus, a leading endoscopy actor, is focusing on building the Group's marketing base in China (CN). In Australia (AU), the government is making significant investments for training endoscopists and is also setting up new endoscopy facilities to cater to the increasing demand for endoscopy in the area. Therefore, the expanding ingestible sensor procedures in APAC countries are supporting the increase of the ingestible sensors market in this area.

In the process of finding out and checking the market value for various segments and sub-segments collected by secondary research, extensive primary audit sessions were managed with main people. The breakup of the profile of primary members taking part is presented below:

- By Company category: Tier I ¬¬- 30.0 percent, Tier II - 48.0 percent, and Tier III - 22.0 percent

- By Designation: C-Level - 25.0 percent, Director Level - 60.0 percent, and Others - 15.0 percent

- By area: North america (NA) - 50.0 percent, Europe - 30.0 percent, APAC - 15.0 percent, and rest of the world - 5.0 percent

The analysis would benefit the market top players/new sector entrants in this sector in these ways:

1. This document breaks down the ingestible sensors market comprehensively and offers the closest value approximations of the global market and the sub-segments across several verticals and localities.

2. The market research benefits partners to comprehend the pulse of the sector and offers them information on main market drivers, market restraints, opportunities, and alternatives.

3. This industry report would benefit partners to better find out the competitor and obtain additional insights to better their rank in the business sector. The competitive outlook section includes competitor landscape, new product develpoments, alliances, and mergers & acquisitions.

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