PUNE, India, March 4, 2016 /PRNewswire/ --
According to the new market research report "Ingestible Sensor Market by Component (Sensor, Data Recorder, & Software), Type (Temperature, Pressure, & Others), Vertical (Medical, Sports & Fitness, & Others), and Geography - Global Forecast to 2022", published by MarketsandMarkets, the market is expected to grow from USD 198.2 Million in 2015 to USD 678.2 Million by 2022, at a CAGR of 20.2% between 2016 and 2022.
Browse 35 Tables and 49 Figures spread through 107 Pages and in-depth TOC on "Ingestible Sensor Market".
Early buyers will receive 10% customization on this report.
There is a growing industrial consensus on developing an integrated and digital healthcare platform. Wearable medical devices were the first phase of digital healthcare ecosystem and ingestible sensor represent the next phase of the digital health ecosystem.
Image sensor would play a key role in developing the ingestible sensor market
The market for image sensors is expected to grow at the highest CAGR during the forecast period. The innovations in the image sensor technology have revolutionized the ingestible sensor market. New trends in capsule endoscopy and internal imaging are the major drivers for this market. The new products such as CMOS-based image sensors, camera pills, and others are strengthening this market. The major benefit of ingestible image sensors is their ability to project the internal images of critical target areas such as the small bowel and esophagus. Moreover, the technology advancement of image sensor is expected to drive the drug delivery application. Thus, image sensors are likely to play a key role in developing the overall market.
Medical vertical to hold the largest share of the market during the forecast period
The medical vertical dominates the overall ingestible sensor market and plays a critical role in it. Ingestible sensor pills enabled with biological micro-electro-mechanical systems (Bio-MEMS), enable effective imaging, patient monitoring, and drug delivery. Thus, the medical industry opens an array of opportunities for ingestible sensors in novel therapeutic and diagnostic treatments for life-threatening diseases.
North America dominated the ingestible sensor market; MEA & Latin America is expected to grow at the highest rate during the forecast period
The growth of this market in North America can largely be attributed to the increasing demand for ingestible sensor technology-based devices in the region. In addition, the growing prevalence of colon cancer in North America is another key factor driving the growth of this market in this region. In North America, about 1 in 1,000 individuals is diagnosed with gastrointestinal disorders. The aging population and changes in dietary habits and lifestyles are the major reasons for the growing prevalence of gastro-intestinal disorders in this region. Non-invasive and more comfortable diagnostics, effective therapeutic monitoring, and enhanced bioavailability are some of the factors which demand constant technology upgradation. In the U.S., approximately 12 million people undergo gastrointestinal screenings every year. With further advancements, the ingestible sensor technology is expected to be the most widely adopted technology in the endoscopy screening market.
The MEA & Latin America region comprises Latin America and the Middle East & Africa. Countries in the Middle East and Africa contribute significantly to the global ingestible sensors market. Israel, in particular, is the major contributor in the R&D, design, and manufacturing of ingestible electronic pills. MEA & Latin America is untapped and emerging market for ingestible sensor and it is expected grow at the highest CAGR.
This research report categorizes the Ingestible Sensor Market on the basis of components, sensor types, vertical, and geography. The report describes the drivers, restraints, opportunities, and challenges for this market. The Porter's five forces analysis has been included in the report with a description of each of its forces and their respective impact on the market.
Inquiry Before Buying: http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=114524374
The major players in the ingestible sensors market are Proteus Digital Health, Inc. (U.S.), HQ, Inc. (U.S.), Given Imaging Ltd. (Israel), Medimetrics Personalized Drug Delivery B.V. (Netherlands), and CapsoVision (U.S.)
Browse Related Reports
Biosensors Market by Application (Point of Care, Home Diagnostics, Research Labs, Biodefense, Environmental Monitoring, Food Industry), Product (Wearable, Non-Wearable), Technology (Electrochemical, Piezoelectric, Optical) & Geography - Analysis & Forecast to 2020
Wearable Technology Market by Product (Wristwear, Eyewear, Footwear, Neckwear, Bodywear, and Others), Application (Consumer Electronics, Healthcare, Enterprise & Industrial, and Others), Type (Smart Textile, Non-Textile), & Geography - Global Forecast to 2020
MarketsandMarkets is world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical info graphics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Visit MarketsandMarkets Blog http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets