The implantable sensor market was valued at US$ 4,912.00 million in 2019 and it is expected to grow at a CAGR of 11.1% during 2020–2027.
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.
Lucrative Regions for Implantable Sensor Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Growing Adoption of Mobile Healthcare Technologies
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.
Type-Based Insights
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.
Global Implantable Sensor Market, by Type – 2019 and 2027
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Application-Based Insights
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.
End User-Based Insights
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.
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Implantable Sensor Market: Strategic Insights
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 Forecast Period 2020-2027 Base Year 2020
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Implantable Sensor Market: Strategic Insights
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 |
Forecast Period | 2020-2027 |
Base Year | 2020 |
Akshay
Have a question?
Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to AnalystVarious 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.
Implantable Sensor Market – by Type
- Glucose Sensor
- Temperature Sensor
- Oxygen Sensor
- Pressure Sensor
- Others
Implantable Sensor Market – by Application
- Medical Diagnostic
- Clinical Therapy
- Personal Healthcare
- Imaging
Implantable Sensor Market – by End User
- Hospitals
- Clinics
- Diagnostic Center
Implantable Sensor Market – by Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Spain
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
- South America (SAM)
- Brazil
- Argentina
- Rest of South and Central America
Company Profiles
- Analog Devices, Inc.
- DEXCOM, INC.
- Glusense Ltd.
- Honeywell International Inc.
- Medtronic
- NXP SEMICONDUCTORS N.V.
- Pinnacle Technology Inc.
- Sensirion AG
- TE Connectivity
- Texas Instruments Incorporated
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type ; Application ; End User , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Implantable sensors enable self-monitoring systems in which the patient acts as a part of the sensing system to detect changes, consciously or unconsciously, of the health conditions. 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.
The increasing chronic diseases prevalence, growing adoption of mobile healthcare technologies fuels the market growth and various technological advancements.
Low rate of adoption in emerging countries hinders the growth of the implantable sensor market.
The List of Companies - Implantable Sensor Market
- Analog Devices, Inc.
- DEXCOM, INC.
- Glusense Ltd.
- Honeywell International Inc.
- Medtronic
- NXP SEMICONDUCTORS N.V.
- Pinnacle Technology Inc.
- Sensirion AG
- TE Connectivity
- Texas Instruments Incorporated
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
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We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
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The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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