Global implantable sensors market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 7% during the forecast period.
Global Implantable Sensors Market
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Implantable sensors are small sensing devices which are widely used in medical research applications to measure parameters such as temperature, pressure, force and torque inside the human body. These sensors offer an effective and promising approach to provide and monitor treatment in real-time.
A surge in the adoption of wireless network sensors in various medical implantable devices is increasing very rapidly owing to the growing demand for healthcare information systems. Growing advancements in medical technology to meet these demands of real world applications is the major driving factor behind the growth of the market. Increasing adoption of wearable and implantable technologies in medical sector, rising miniaturization of power sources and monitoring devices, surge in the adoption of mobile healthcare technologies, rising health related awareness among people and ongoing research and development activities in the field of implantable technology are expected to improve the growth of the market during the forecast period.
However, rising healthcare and medical equipment costs and poor reimbursement facilities are the major restraining factors that could hamper the growth of the market.
Global Implantable Sensors Market: Segmentation Analysis
A growing adoption of various wireless sensors in medical applications such as diagnostics, monitoring, therapeutics, wellness & fitness and many others is escalating the growth of implantable sensor market. By mode of operation, the market for monitoring, wellness and fitness applications is projected to witness high growth at a CAGR of XX% during the forecast period. A surge in the adoption of implantable sensors in several healthcare applications such as heart failure monitoring, brain stimulator, and blood glucose level monitoring is attributed to the growth of the market.
An implantable sensor provides some benefits to increase the lifestyle quality and to improve the medical care, accordingly, leading to considerable investment in biomedical systems. Implantable sensors can also be used to measure blood pressure and enzymes. Also, rising incidence of heart failure, cancer and many other diseases has encouraged research and development of advanced implantable devices to treat cancer, which ultimately results into the growth of the market.
Global Implantable Sensors Market: Regional Analysis
Region-wise, North America held the largest market share in 2019 and is expected to continue its dominance at a CAGR of XX% during the forecast period. The US and Canada are the major key contributors behind the growth of the market. The growth is attributed to the growing technological advancements in medical and healthcare sector.
Growing investments in research and development activities in the field of medical devices, a surge in the adoption of implantable sensors in applications such as monitoring devices and medical devices and continuous introduction of highly developed products with advanced technology are driving the growth of the market in the NA region.
The objective of the report is to present a comprehensive analysis of the Global Implantable Sensors Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Implantable Sensors Market dynamics, structure by analyzing the market segments and projects the Global Implantable Sensors Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Implantable Sensors Market make the report investor’s guide.
The Scope of Global Implantable Sensors Market
Global Implantable Sensors Market, By Mode of Operation
• Wellness & Fitness
Global Implantable Sensors Market, By End-User
Global Implantable Sensors Market, By Region
• North America
• Asia Pacific
• South America
• Middle East and Africa
Global Implantable Sensors Market, Key Players
• Honeywell International, Inc
• Dexcom, Inc
• TE Connectivity
• First Sensor AG
• Sensirion AG
• Danaher Corporation
• GluSense Ltd
• Smiths Groups plc
• bioretec ltd
• Medical Wireless Sensing Ltd
• Novela Neurotech
• GE Healthcare