Publication Month: Jan 2021 | Report Code: TIPRE00016982 | No. of Pages: 177 | Category: Medical Device | Status: Published
Implantable sensors have been used in medical research for measuring parameters, such as force, torque, pressure, and temperature inside the human body. These advanced sensor systems must be small in size, compatible with human tissue, and sturdy enough to withstand the human body's physical forces. They must also be self-powered and able to transmit data wirelessly. Ideal sensor systems are robust and straightforward, which minimizes the possibility of malfunction or failure. Innovations in the development of point-of-care medical sensors, technological advancements for monitoring & diagnosis of the patient, and improvement in technical design which would enhance the functions of implantable sensors for the quality of life and longevity—are expected to propel the growth of the market. Increasing incidence of cancer, heart failure, and other diseases has stimulated research on developing novel implantable devices for the localized treatment of cancer. Cancer is currently the second-largest cause of death worldwide, after cardiovascular disease. Current trends also suggest that cancer would become the leading cause of death by 2030. Implantable sensors should be integrated with other technologies to overcome all these challenges.
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Mobile healthcare technologies offer a great potential for improving patient care and reducing healthcare costs. Implantable and wearable technologies subsidize to a transformation in the mobile health era in terms of improving healthcare and health outcomes and providing real-time management on enhanced health management and tracking. Further, mobile technologies are paving the way for revolutionizing the diagnosis of diseases and monitoring patient treatment. Mobile sensors are helping in everything from monitoring our movements and sleeps to record the electrical activity in our hearts 24/7 as we go about our daily routines. As a result, the technology is quickly becoming vital for researching ways to cure illness and improve health.
Most cardiac rhythm management companies have applications that physicians and device technicians can access to track their patients with pacemakers and implantable cardioverter defibrillators, enrolled in remote patient management programs. All current-generation cardiac rhythm management devices are capable of remote transmission. Newer pacemakers and implantable cardioverter-defibrillators have Bluetooth LE transmission capability to create a straightforward way to share device data to patient-centered applications. As all cardiac rhythm management companies have built secure data platforms to receive remotely transmitted implanted device data, there is an opportunity to expand these platforms and include patient-facing software applications. The new generation of implantable hemodynamic sensors for heart failure management provides web- and app-based data to physicians to allow for physician-directed patient self-management of remotely transmitted intracardiac pressures.
Implantable devices or electronics have rapidly entered the area of digital health in various biomedical applications, including monitoring, tracking, and recording the vital signs of people to improve their health and that of their family.
Based on type, the implantable sensor market is segmented into glucose sensor, temperature sensor, oxygen sensor, pressure sensor, and others. The glucose sensor segment held the largest share of the market in 2019, whereas the oxygen sensor segment is anticipated to register the highest CAGR in the market during the forecast period. Many companies are developing implantable sensor for diabetes. For instance, Integrated Medical Sensors is developing an implantable CGM the size of a sesame seed. Further, Profusa is developing implantable sensors based on its proprietary Lumee Oxygen platform that could continually monitor glucose readings and other biomarkers.
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Based on application, the implantable sensor market is segmented into medical diagnostic, clinical therapy, personal healthcare, and imaging. The medical diagnostic segment held the largest share of the market in 2019; however, the personal healthcare segment is expected to register the highest CAGR in the market during 2020–2027.
Based on end user, the implantable sensor market is segmented into hospitals, clinics, and diagnostic center. The hospitals segment held the largest share of the market in 2019 and it is estimated to register the highest CAGR in the market during the forecast period. Hospitals serve a significant role by providing extensive range of medical services to the patient population suffering from a wide variety of diseases. This has increased the adoption of implantable biosensors in hospitals and clinics. This, combined with growing number of hospital admissions, is projected to drive the segment. This is expected to increase the treatment process for treating chronic conditions, which, in turn, is expected to increase the usage of implantable sensors in the hospitals.
|Market Size Value in||US$ 4,912.00 Million in 2019|
|Market Size Value by||US$ 11,415.62 Million by 2027|
|Growth rate||CAGR of 11.1% from 2020-2027|
|No. of Pages||177|
|No. of Tables||84|
|No. of Charts & Figures||73|
|Historical data available||Yes|
|Segments covered||Type ; Application ; End User , and Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
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Various companies operating in the implantable sensor market use strategies, such as product launches, mergers and acquisitions, collaborations, product innovations, and product portfolio expansions, to expand their footprint worldwide, maintain the brand name, and meet the growing demand from end users.
The List of Companies - Implantable Sensor Market