Ingestible medical devices are clinically relevant technology which combines with circuits and sensing techniques. The medical devices technique expand the capabilities of ingestible capsules and enable a new diagnostic and treatment applications for the patients. The ingestible medical device system handles the routine upgradeable design which creates a new platform and possibilities for treatment application among colorectal cancer patients. Its unique technology and software features ensure better functional ability. However, new developments in sensors and ultrasound models allow to image the diseases or infection at the cellular and molecular level, which are paving the way for early diagnosis and treatment of diseases.
High prevalence of diseases such as gastroenteritis and colon cancer, rising patient awareness, increasing research and development initiatives, advent of high-throughput screening (HTS) for drug discovery, and genomic technology are key factors driving the Ingestible Medical Device Market. According to the Center for Disease Control and Prevention, October 2016, China outbreak the incidences of norovirus infection among 79% of its population. In 2015, the WHO stated that the number of new cancer cases are expected to rise by about 70% over the next two decades. According to the American Cancer Society, in 2017, in the U.S. 135,430 people are estimated to be diagnosed with colorectal cancer and about 50,260 fatalities are likely to occur due to the disease.
The World Health Organization predicted that 30% to 50% of cancer patients can be prevented from acquiring different cancer by avoiding risk factors and implementation of existing evidence-based prevention strategies. The cancer burden can also be reduced through early detection of cancer and management of patients who develop cancer. Increasing number of patients with chronic diseases, rising geriatric population, and rapidly increasing awareness about minimally invasive techniques, are projected to fuel the overall ingestible medical device market. However, factors such as bulky and stationary designs, lengthy procedures, and expensive treatment procedures are expected to hamper the ingestible medical devices market.
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The global ingestible medical devices market can be segmented based on application, technology, therapy, end-user, and region. In terms of application, the market can be classified into drug delivery, optical imaging, and disease diagnosis. In terms of technology, the market can be segregated into absorbable and non-absorbable. In terms of therapy, the market can be divided into oncology, biotechnology, neurology, and others. Biotechnology is a rapidly expanding segment owing to the increase in funds in research and technology, globally. In terms of end-user, the market can be segregated into diagnostic laboratories, pathology labs, life sciences and research lab, and others. In terms of region, the Ingestible Medical Devices Market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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