According to the latest study on “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.
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Market leaders operating in the market have undertaken various organic growth strategies in the implantable sensor Market. The implantable sensor market majorly consists of the players including 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. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized organic strategies such as launches, expansion, and product approvals. Moreover, the companies have utilized inorganic strategies including mergers & acquisitions, partnership, and collaborations.
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 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
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.
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