Ingestable sensors are tiny electronic devices that a person can swallow or consume to collect particular physiological data from inside their body and transmit it to a device or receiver outside of their body for examination. They are largely used in healthcare for purposes like as medical diagnostics, disease monitoring, drug delivery tracking, and personalised health management.
According to SPER market research, ‘Global Ingestible Sensors Market Size- By Component, By Vertical, By Sensor Type - Regional Outlook, Competitive Strategies and Segment Forecast to 2034’ state that the Global Ingestible Sensors Market is predicted to reach 2899.49 million by 2034 with a CAGR of 11.11%.
Drivers:
The market for ingestible sensors is growing due to the rise in chronic diseases like diabetes, heart disease, and gastrointestinal disorders. These sensors provide a non-invasive way to monitor health and improve patient outcomes. Their use in capsule endoscopy, patient monitoring, and controlled drug delivery is also helping the market. The increasing number of complications from these diseases further supports market growth. Additionally, smaller and more comfortable sensors are appealing to patients, and the development of sensors with multiple monitoring capabilities is boosting the market. These products help reduce hospital visits and allow for continuous remote monitoring, helping patients recover at home.
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Restraints:
The development and approval of ingestible sensors face significant delays and high costs due to strict regulatory standards for safety and accuracy. Obtaining approvals from regulatory bodies can slow down their market release. These regulatory challenges are likely to hinder growth in the ingestible sensors market. Furthermore, ingestible sensors are generally more expensive than standard monitoring methods, including costs for data processing and analysis technology. This high cost can limit accessibility and affordability for many, further restraining market growth in the projected period.
In 2024, North America held the most market share for ingestible sensors worldwide, because to the presence of significant manufacturers and technical breakthroughs. The development of tiny camera pills and increased research into smart pills for managing chronic and gastrointestinal diseases are expected to enhance market growth. Some of the key market players are Otsuka Holdings Co., Ltd, Medtronic, etectRx, CapsoVision, Inc, H.Q, Inc, IntroMedic, and others.
For More Information, refer to below link: –
Ingestible Sensors Market Future
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