According to the new research report published by The Insight Partners, titled “Implantable Sensor Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type, Application, and End User,” the market was valued at US$ 4,912.00 million in 2019 and it is projected to reach US$ 11,415.62 million by 2027; it is expected to grow at a CAGR of 11.1% during 2020–2027. The report highlights trends prevailing in the global implantable sensor market, and the factors driving and restraining the market growth.
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.
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Based on application, the global 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. The segment is estimated to register the highest CAGR in the market during the forecast period.
Analog Devices, Inc.; DEXCOM, INC.; Glusense Ltd.; Honeywell International Inc.; Medtronic; NXP SEMICONDUCTORS N.V.; Pinnacle Technology Inc.; Sensirion AG; TE Connectivity; and Texas Instruments Incorporated are among the major companies operating in the implantable sensor market.
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