US & Canada, Dec. 17, 2024 (GLOBE NEWSWIRE) — According to a new comprehensive report from The Insight Partners, the implantable sensor market is expected to reach US$ 17.32 billion by 2031 from US$ 4.19 billion in 2023, registering a CAGR of 11.1% during the forecast period. Implantable sensors are in vivo devices that are inserted or implanted in the human body to detect, diagnose, or monitor medical conditions. These systems can monitor for extended periods, affect vital functions, and deliver therapy.
The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the implantable sensor market comprises a vast array of products and services that are expected to register high strength in the coming years.
The report from The Insight Partners, therefore, provides several stakeholders—including component providers, equipment manufacturers, healthcare providers, and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.
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Overview of Report Findings
- Increasing Prevalence of Chronic Diseases: Cardiovascular diseases (CVDs) are a significant cause of global mortality owing to the hectic lifestyle. As per the World Health Organization, CVDs are the leading cause of death globally, taking an estimated 17.9 million lives each year. CardioMEMS is a medical device company that has developed and commercialized a proprietary wireless sensing and communication technology for the human body. The company’s technology platform is designed to improve severe chronic cardiovascular diseases, such as heart failure and aneurysms. The company’s miniature wireless sensors can be implanted using minimally invasive techniques. They can transmit cardiac output, blood pressure, and heart rate data for patient managemnt. Due to their small size, durability, and lack of wires and batteries, these sensors are designed to be permanently implanted into the cardiovascular system. Using radiofrequency (RF) energy, sensors can transmit real-time data to an external electronics module, communicating this information to the patient’s physician. Thus, the adoption of implantable microsensors is likely to increase and is expected to propel the market growth in the forecast period.
- Growing Adoption of Mobile Healthcare Technologies: Mobile healthcare technologies offer great potential for improving patient care and reducing healthcare costs. Implantable and wearable technologies subsidize to transform 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 help in a range of applications, from monitoring movements and sleep to recording the 24/7 electrical activity of the heart. 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 with patient-centered applications.
- Geographical Insights: North America led the market with a substantial revenue share in 2023, followed by Europe and APAC. Asia Pacific is expected to register the highest CAGR during the forecast period.
| Report Attributes | Details | |
| Market Size in 2023 | US$ 4.19 billion | |
| Market Size by 2031 | US$ 17.32 billion | |
| CAGR | 11.1 | % |
| Base Year | 2023 | |
| Forecast Period | 2023-2031 | |
| Historical Data | 2021-2022 | |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe – [UK, Germany, France, Russia, Italy, Rest of Europe] Asia-Pacific – [China, India, Japan, Australia, Rest of Asia-Pacific] South and Central America [Brazil, Argentina, Rest of South and Central America] Middle East and Africa [South Africa, Saudi Arabia, UAE and Rest of Middle East and Africa] | |
Market Segmentation
- 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 implantable sensor market in 2023.
- By application, the implantable sensor market is categorized into medical diagnostic, clinical therapy, personal healthcare, and imaging. The medical diagnostic segment held the largest share of the implantable sensor market in 2023.
- In terms of end users, the implantable sensor market is divided into hospitals, clinics, and diagnostic centers. The hospitals segment held the largest share of the Implantable Sensor market in 2023.
- The implantable sensor market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.
Segments Covered –
By Type
- Glucose Sensor
- Temperature Sensor
- Oxygen Sensor
- Pressure Sensor
By Application
- Medical Diagnostic
- Clinical Therapy
- Personal Healthcare
- Imaging
By End User
- Hospitals
- Clinics
- Diagnostic Centre
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Competitive Strategy and Development
- Trending Topics: Developments in Glucose sensors, AI in temperature sensors, innovations in oxygen sensors, product launches in personal healthcare, and technological advancements in implantable sensors, among others.
Global Headlines on Implantable Sensor
- Sensirion collaborated with TTP Ventus Ltd. (the leading manufacturer of micro pumps) for the development of compact, high-performance microfluidic sensors
- Dexcom, Inc. received the US Food and Drug Administration (FDA) approval for the Dexcom G6 Pro Continuous Glucose Monitoring (CGM) System for healthcare professionals to use in diabetic patients
- Pinnacle Technology Inc. announced the addition of an oxygen (O2) sensor to the product line. This O2 sensor provides amperometric readings, which correspond to extracellular O2 changes, and it is linear across the physiological range.
- Texas Instruments launched a new family of digital temperature sensors, the TMP117x.
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Conclusion
The rising demand and falling development costs of mobile healthcare technologies such as glucose sensors, temperature sensors, and oxygen sensors drive the implantable sensor market growth. 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 families. 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. 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 biosensors have received tremendous attention over the past decade, mainly concentrated in the healthcare industry, which attempts to apply physical signals, such as heart rate, blood pressure, skin temperature, respiratory rate, and body motion, to extract clinically relevant information. Also, implantable biosensors enable diagnosis and prognosis through small sensors and biomedical devices, significantly improving healthcare quality and efficacy. Therefore, implantable biosensors make them desirable for the treatment of chronic diseases where long-term treatment is necessary.
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