The global implantable sensors market is anticipated to grow at a considerable CAGR of 8.6% during the forecast period (2024-2031). The market growth is mainly attributed to the increase in self-monitoring sensors across the globe. The importance of implantable sensors has been increasing gradually over the years due to the rise in the innovation of technologies leading to self-monitoring and diagnosis of the patient. Moreover, it enables patients to get notified when any problem rises and leads to early problem identification with real-time data. In addition to this, the outbreak of the COVID-19 pandemic crisis has created the demand for implantable sensors to measure the oxygen level of the patient.
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The rise in healthcare expenditure with the rise in the cost of medical treatment has shifted the interest of the people towards home-based healthcare services. An increasing rate of chronic diseases across the globe has led to the adoption of implantable sensors and the market has seen a high growth from the past few years. Several government initiatives and policies have also played a vital role in contributing to the growth of the market and providing approvals for the same. For instance, in June 2018, the US FDA had approved the first continuous glucose monitoring (CGM) system which was manufactured by Senseonics, Inc. This was approved by FDA to detect glucose for people above age 18 with diabetes. Such technologies allowing patients to gain better control over their health have led to market growth share for implantable sensors.
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Market Coverage
- Segment Covered-
o By Application
o By End-User
o By Types
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape-Smiths Group plc, Abbott Laboratories Inc., Medtronic Plc, Dexcom Inc., Honeywell International Inc.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Implantable Sensors Market Report Segment
By Application
- Medical Diagnostic
- Clinical Therapy
- Imaging
By End-User
- Hospitals
- Clinics
- Diagnostic Center
- Homecare
By Type
- Glucose Sensor
- Temperature Sensor
- Oxygen Sensor
- Pressure Sensor
- ECG Sensor
- Image Sensor
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