Ingestible Sensor Market Set to Increase Significantly by 2024

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Sarasota, FL — (SBWIRE) — 10/09/2017 — Global Ingestible Sensor Market: Overview

Ingestible sensors are technologically advanced pills in the medical industry. They are able to detect various body functions such as blood pressure, medication check, and heart rate. Ingestible sensors are accompanied with software, sensors, and data recorder. These sensors are very useful to detect critical issues on the real-time basis.

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The ingestible sensor begins its work as soon as it is consumed. Pills transfer signals to the patch in order to notice the duration in which the pill was consumed. The recorded data can be downloaded on the smartphones with the help of linked discover application. This application helps patients to analyze the data and take decision accordingly.

Global Ingestible Sensor Market: Segmentation

The global ingestible sensor market is categorized on the basis of application as sports & fitness, medical/healthcare, and others. Based on end-user, the global market is divided into pharmaceutical companies, sports & physical fitness institutions, and research institutes and healthcare providers. The global ingestible sensor market is further segmented based on sensor type as a pressure sensor, an image sensor, temperature sensor, and pH sensor.

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Global Ingestible Sensor Market: Growth Factors

The global ingestible sensor market is driven by advancements in technology and rising occurrences of the chronic disorders. Growing population and rising life taking diseases are expected to fuel the global ingestible sensor market growth. Increasing cost-effective products to improve health conditions is anticipated to enhance the global market growth in future. The government has taken steps for conducting programs, health education, and creating the awareness about health concerns; this is turn is anticipated to propel the growth of the global market. Growing health concerns among people also positively impact the global ingestible sensor market. Conversely, unwillingness to adopt these products may hinder the global market growth in future.

Global Ingestible Sensor Market: Regional Analysis

The percentage of adults who suffered from obesity is higher in North America. Other life taking diseases include stroke, diabetes, cancer, heart disease, and others. The U.S. is a leading region in the chronic conditions such as diabetes, heart disease, obesity, cancer, arthritis, and others which are anticipated to fuel the global ingestible sensor market growth in future. Asia Pacific is another market for the ingestible sensor, growing at a faster rate.

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Favorable reimbursement facilities in Japan for capsule endoscopy procedures are anticipated to witness growth in future. The growing government investment on endoscopists training in Australia has opened up new growth opportunities.

Global Ingestible Sensor Market: Competitive Players

Major players in the global ingestible sensor market are Olympus Corporation, HQ, Inc., Given Imaging, Ltd., Proteus Digital Health, Inc., Medimetrics Personalized Drug Delivery B.V., and CapsoVision, Inc. Many key players in the global market are opting for new strategies, mergers, and acquisitions in order to expand their market share. For example, Proteus Digital Health, ingestible sensor company, and Oracle, a computer giant, introduced an integrated software. This includes an ingestible pill sensor which is a wearable patch along with Oracle’s InForm software for data collection.

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