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Disposable Medical Sensors Market - Increase In Awareness in Research and Innovation Fuel the Demand for Market

02-21-2019 11:16 AM CET | Health & Medicine

Press release from: Allied Market Research

Disposable Medical Sensors Market

Disposable Medical Sensors Market

The Disposable Medical Sensors Market is expected to reach $ 970 million by 2023, a year-on-year growth of 10.2% from 2017 through 2023. The biosensor sector accounted for about three-quarters of the total market in 2016.

Disposable medical sensors are portable and cost-effective inspection devices used to diagnose and monitor a variety of diseases. The device works by measuring important human parameters such as body temperature, breathing, and heart rate. Over the years, disposable medical sensors have evolved in functionality, performance and character. This is due to the continuous improvement of electronics research and development in pharmaceutical and medical fields. In addition, the emergence of micro-electronics (MEMS) and the adoption of biosensors have played an important role in the development of sensors in the health care field.

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The key players in the global disposable medical sensors market include
• Philips Healthcare
• Sensirion AG Medtronic plc
• Honeywell International Inc.
• Smiths Group plc (Smiths Medical)
• STMicroelectronics
• Omnivision Technologies Inc.
• TE Connectivity (TE)
• First Sensor
• Ambu A/S.

We are leading the global disposable medical sensor market by increasing adoption of biosensors, increasing demand for disposable images and wearable sensors, introducing implantable sensors for preclinical drug research, and developing technologies such as capsule endoscopy and ultrasound imaging systems. However, stringent government regulations and adverse reimbursement policies inhibit market growth.

The ingested sensor segment of the disposable medical sensor market by deployment type is expected to register the highest CAGR of 11.0% over the forecast period. This is due to the increase in sophisticated sensor development for the treatment of various diseases, especially diabetes. In addition, many major companies have undertaken acquisition and product development to meet the demand for disposable medical sensors. Implantable sensors accounted for roughly two-ninths of total stocks in 2016 and are expected to maintain this trend from 2017 to 2023.

Patient monitoring applications have generated the highest revenue, accounting for about two-fifths of total revenue in 2016, and are expected to maintain this trend from 2017 to 2023. Diagnostic applications are expected to grow rapidly during the forecast period. This is because the incidence of hospital-acquired infections has increased and the average life expectancy of people has increased.

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Key Findings of the Disposable Medical Sensor Market:
• The image sensor is anticipated to grow at a highest rate during the analysis period.
• The U.S. was the major shareholder in the North America disposable medical sensor market, and accounted for the highest share in 2016.
• The pressure sensor occupied about one-eighth share of the total disposable medical sensor market in 2016 and is expected to grow at a CAGR of 10.9% from 2017-2023.
• China occupied two-ninth share of the total Asia-Pacific disposable medical sensor market in 2016, registering a high CAGR of 13.1% from 2017 to 2023.
• The strip sensor segment dominated the market in 2016, growing at a CAGR of 9.6% from 2017 to 2023.
• The home care segment accounted for the two-fifth share in end user market for disposable medical sensors in 2016.

In 2016, Asia-Pacific and LAMEA collectively accounted for about one-third share of the market and is expected to continue this trend due to increase in adoption disposable medical sensors, specifically in China, India, and the other developing economies. Rise in adoption of biosensors is the main reason for growth of the disposable medical sensor market in Asia-Pacific.

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About Us:

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

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