The latest market report published by Credence Research, Inc. “Global Swallowable Electronics Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027”. The swallowable electronics market was valued at USS 547.5 million in 2019 and expected to grow at a CAGR of 11.13% during the forecast period from 2020 to 2027 to reach USD 982.5 million in 2027.
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Swallowable electronics are also called as digestible electronic pills. Swallowable electronics has been originally invented for the purpose of diagnosis. However, today it is being also used in surgery as well as drug delivery. Swallowable electronics are basically monitoring systems which aids in measuring parameters such as temperature, conductivity, dissolved oxygen, and pH. Swallowable electronics is a simple and small device that is made up of biocompatible materials that make up a power supply, microprocessor, controller, sensors, etc. This device has ability to telecommunicate for the purpose of disease diagnosis and monitoring.
Global Swallowable Electronics Market by Target Area Insights
Global Swallowable Electronics Market can be segmented based on the target areas such as small intestine, large intestine, stomach, and esophagus. Ever rising incidences of gastrointestinal diseases has been resulted into growing demand for swallowable electronic pills that helps in diagnosis as well as treatment of various gastrointestinal abnormalities. Large number of healthcare companies are conducting extensive research and development for the development and commercialization of effective, efficient yet cost effective swallowable electronic pills.
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Global Swallowable Electronics Market by Application Insights
Based on its applications, the global swallowable electronics market can be segmented into patient monitoring, drug delivery, and capsule endoscopy. Swallowable electronics was originally invented for the purpose of diagnosis. However, with further research and development, the swallowable electronics found its way into other applications such as endoscopy and drug delivery as well. Swallowable electronics facilitate the non-invasive methods of diagnosis and surgeries. At present, diagnosis applications of swallowable electronics is dominating the market. However, swallowable electronics is expected to witness rapid growth in surgery applications in the years to come.
Global Swallowable Electronics Market by Component Insights
Global swallowable electronics market can also be segmented on the basis of components such as radio transmitter, power source, biocompatible capsule encasing microsensor, and control chip. Radio transmitter and power source are major components that holds largest market share together. However, microsensors are expected to exhibit rapid CAGR during the forecast period.
Global Swallowable Electronics Market by End-user Insights
On the basis of end-users, the global swallowable electronics market has been categorized as hospitals, diagnostics centers, and others. Among all end-user segments, hospitals accounted for majority of market share and accounted for over 45% share in 2019. Hospitals are followed by diagnostic centers.
Global Swallowable Electronics Market by Regional Insights
At present North America dominated the global swallowable electronics market with highest revenue contribution in total revenue generated by this industry. It accounted for over 40% share in total revenue generated by swallowable electronics industry in 2019. North America is followed by Europe and Asia Pacific. Asia Pacific is expected to exhibit fastest CAGR during the forecast period. Latin America and Middle East & Africa are also expected to gain momentum in demand for swallowable electronics in the years to come.
Global Swallowable Electronics Market Competitive Landscape
Global swallowable electronics market is fragmented and characterized by the presence of large number of players such as CapsoVision, Inc., Medtronic, BDD Limited, Proteus Digital Health, Inc., JINSHAN Science & Technology, Olympus Corporation, IntroMedic, and Medisafe. All the major players are focusing on development of innovative products.
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Market Segmentation
Global Swallowable Electronics by Target Area, 2015 – 2027
- Small intestine
- Large intestine
- Stomach
- Esophagus
Global Swallowable Electronics by Application, 2015 – 2027
- Patient monitoring
- Drug delivery
- Capsule endoscopy
Global Swallowable Electronics by Component, 2015 – 2027
- Radio transmitter
- Power source
- Biocompatible capsule encasing microsensor
- Control chip
Global Swallowable Electronics by End-user, 2015 – 2027
- Hospitals
- Diagnostics centers
- Others
Global Swallowable Electronics Market, Key Players
- CapsoVision, Inc.
- Medtronic
- BDD Limited
- Proteus Digital Health, Inc.
- JINSHAN Science & Technology
- Olympus Corporation
- IntroMedic
- Medisafe
- Others
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