Latin America: untapped market for ingestible sensors
According to a market research article published by Markets and Markets, the global ingestible sensor market is poised to reach USD 678 million from USD 198 million over 2015-2022. North America is currently leading the globe, but geographies such as Latin America and MEA are still untapped and may report the highest CAGR over the forecast period. These sensors are used in capsule endoscopy, patient monitoring, and controlled drug delivery applications. The primary factors driving the growth of the market include real-time patient monitoring, medication adherence, increasing number of chronic disease cases, and accuracy in performing invasive diagnosis tests. Israel is the major contributor in R&D, design, and manufacturing of ingestible electronic pills.
(Image Courtesy: Wonderful Engineering)