Ingestible Sensors Market

Global Industry Analysis (2018 – 2021), Growth Trends and Market Forecast (2022 – 2026)

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Highly Integrated Ingestible Sensors are the Future of Our Gut Health

Ingestible sensors are also known as ‘Intelligent Pills’, is a disruptive technology in the fields of medical (disease diagnostics and drug delivery management) and sports/fitness/wellness. These electronic devices, roughly the size of a medicine capsule, constitutes biocompatible materials (microprocessor, sensors, power supply, and controller). The information obtained through this ingestible technology holds huge potential in exploring functionalities of the gut. At present, there is lack of in-depth comprehension of how gastric juices, hormones, electrolytes, and other gut metabolites. Importantly, as noninvasive, this real-time healthcare technology can have far-reaching implications, well beyond what current wearable sensors are capable of.

Like any other technology, ingestible sensors also possesses some limitations. Relatively a new idea, poses psychological challenge of swallowing a sensor containing all the electronic components. The field also has to overcome the huge hurdle of massive expenditures required for product development. These factors could slow the market growth, which otherwise has a double digit potential.

Growing Need for Real-time Patient Monitoring, Medication Adherence and Cases of Chronic Conditions to Boost Demand for Ingestible Sensors

Chronic diseases demand incessant adherence to medications and close monitoring. As adherence is critical and a burning issue with patients, the intelligent pill allows for stricter monitoring and management of medication adherence programs.

With the advent of ingestible biosensors systems, seamlessly integrated into current medication regimen, the system is capable of retrieving medication ingestion events in real time. An ingestible biosensor, connected to a broader network of biosensors or a suite of mHealth technologies can provide self-effacing, real-time evidence of medication ingestion. The consortium of Otsuka Pharmaceuticals and Proteus Digital Health developed Abilify MyCite, the first pill containing a digital tracking system that has been approved by the U.S. FDA to monitor medicine ingestion in patients suffering from mental disorders.

Although the therapeutic value of modern medicine is vast, non-adherence (~50%) puts a heavy burden on healthcare systems. U.S. alone is estimated to cost US$ 100 Bn – US$ 290 Bn annually.

As per the International Diabetic Federation, Global Diabetes prevalence is ~8%, This rising population of diabetes globally combined with rising acceptance of ingestible sensors among diabetic population to contribute revenue growth of the ingestible sensors market. Moreover, increasing accuracy and precision of ingestible sensors is rising the usage in diabetes space. Moreover, growing geriatric population in highly populous Asian countries like China -provides incremental opportunities for ingestible sensors during the forecast period. As geriatric population required frequent health scrutiny and continuous monitoring, this, indeed is a key growth driver in the coming years.

Technological Advancements coupled with Stringent Government regulations to Boost Global Biosensors Market

Many companies around the world are betting on the ingestible sensing technology and heavily spending on R&D. Multiples projects are in progress at different corners of the world.

imec, Belgium based technology company is developing technology to complement existing pill cameras by measuring the mechanical, chemical and electrical processes in the gut. Another company, etectRx, had its digital pill with removable lanyard rather than a patch approved by the FDA in late 2019. Spanish company Infármate is developing a similar solution, SIGUEMED, to help the elderly with chronic illnesses properly take their medicine.

Miniaturization of biosensors led to ease of integration. Integrating of nanomaterials with electrical systems has led to the development of nanoelectromechanical systems. Thus far, several nanomaterials (nanotubes, nanorods, nanowires etc.) have been explored to use in improving biological signaling and transduction mechanism. Capsule endoscopy is emerging as an effective method of endoscopic imaging.

Regulatory authorities have imposed stricter guidelines to uphold the safety and effectiveness of a proposed medical product. In the last decade or so, World has witnessed, 5 major pandemic diseases, severe acute respiratory syndrome (SARS), Swine flu, Ebola, Middle East respiratory syndrome (MERS), and COVID-19. This has led to greater awareness around overall safety among people worldwide. Favorable reimbursement policies for capsule endoscopy procedures are provisioned in the developed markets.

Ingestible Sensors Market across Diagnostic Application to Grow at the Highest Rate during the Forecast Period

In the medical domain, the diagnosis application dominated the global ingestible sensors market, alongside patient monitoring. Ingestible sensors determine the state of a patient’s gastrointestinal tract, enabling doctors to understand the root cause of the disease. These non-invasive sensors allow simplified monitoring of various parameters such as pressure, temperature, and pH.

Other emerging applications such as drug delivery is also gaining a significant market traction due to ability to provide precise and reliable healthcare outcomes.

Another key area of application is sports and fitness. Continuous monitoring of melatonin and blood pressure levels along with other essential biological indicators is required to assess the health of athletes. Monitoring food interactions and relevant data compilation is helping to boost athlete performance. All these factors are boosting the product demand in this field.

Applications are growing in areas like defense are on cards, as defense personnel working under extreme climatic are required to have a constant body temperature monitoring along with other essential parameters.

Temperature Sensors to Dominate the Global Ingestible Sensors Market

Temperature, pressure, pH, and image are the major sensor types within the ingestible sensors market. Temperature sensors are anticipated to hold the largest market share during the forecast period. It is most widely used sensors in different industries such as healthcare and aerospace. Measuring body temperature in patients or astronauts can detect any significant negative biological symptoms.

The image sensor market is anticipated to grow at the highest CAGR during the forecast period. Using image sensors, physicians can get clear images of different tissues and organs inside a patient’s body by using these sensors, allowing precise screening of critical diseases.

Pressure sensors segment is also set to have significant market growth during the forecast period on account of utility in respiratory and cardiac diseases management. It allows early detection of fatal cardiac conditions. Pressure sensor are also used to determine the biomedical changes in multiple other target areas.

North America is the Dominating Region

North America is dominating with the largest market share on account of early adoption of novel technologies and high awareness of patients. The U.S. is leading the way with high technological advancements in Internet of Things (IoT). IoT is considered to be next big thing in healthcare technology, a new wave of digital medication. Growing cases of chronic and gastrointestinal diseases is also said to be a key factor driving the developed region dominance.

The investments in product R&D is higher in developed countries than in emerging regions because of its high development cost, access to well-equipped labs, and early adoption of advanced medical products in developed regions.

However, in emerging markets such as APAC, the growth of capsule endoscopy is expected to be more than that in North America and Europe owing to the large population base and growing healthcare expenditure

Market Leaders are Exploring Product Innovations and Strategic Collaboration to Gain Competitive Edge

Ingestible sensor marketers are continually strengthening their product portfolios and offer technologically advanced products to the market. For instance, in Early 2019 - Olympus Corporation launched “PowerSpiral” in Europe and parts of the Asia-Pacific region

Moreover, technological collaboration, M&A and distribution partnerships are ways through key participants are augmenting their market growth. This way, companies are increasing capabilities and improve their competencies. For example, in June 2018 - CapsoVision, Inc. announced a distribution partnership with PENTAX Medical to sell CapsoCam Plu. It is the only capsule endoscope that includes four cameras and offers 360° panoramic lateral imaging of the small bowel.

The market leader in global ingestible sensors market landscape, Proteus Digital Health, Inc., Microchips Biotech Inc., CapsoVision Inc., H.Q. Inc., Olympus Corp., Given Imaging Ltd., and Medimetrics Personalized Drug Delivery B.V.

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