Disposable Medical Sensor Market 2020 with Competitive Analysis By Key Players: Philips Healthcare, Medtronic, Smiths Group, Biosensors International Group And Forecast to 2027
Rise in adoption of biosensors, growth in demand of disposable image and wearable sensors, introduction of implantable sensors for preclinical drug research, and technological advancements in sensors such as capsule endoscopes and ultrasonic imaging systems drive the global disposable medical sensor market. However, stringent government regulations and unfavorable reimbursement policies restrain the market growth.
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Global Market Size of Disposable Medical Sensor Market is $XX million in 2019 with XX CAGR, and it is expected to reach $XX million by the end of 2027 with a CAGR of XX% from 2020 to 2027.
The ingestible sensor segment of disposable medical sensor market by placement type is expected to register the highest CAGR throughout the forecast period 2027. This is owing to the rise in the development of sophisticated sensors for the treatment of various diseases especially diabetes. In addition, many key players have undergone acquisitions and product development to cater to the demand for disposable medical sensor. The implantable sensor accounted for about two-ninths of the total share in 2019, and is anticipated to maintain this trend from 2020 to 2027.
Key Companies operating In Disposable Medical Sensor Market: -
Some of major 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, and Ambu A/S. The other prominent players in the value chain include MEMSIC, Inc., Universal Biosensors, Inc., Biosensors International Group, and GeekWire, LLC.
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.
Key Benefits Of Reports: -
o The study provides an in-depth analysis of the global disposable medical sensors market, with current trends and future estimations to elucidate the imminent investment pockets.
o A quantitative analysis from 2020 to 2027 is discussed to enable the stakeholders to capitalize on the prevailing market opportunities.
o Key market players are profiled and their strategies are analyzed thoroughly, which help understand the competitive outlook of the market.
o Porters Five Forces model is expected to interpret the bargaining power of suppliers & buyers, threat of new entrants & substitutes, and competition among the key players.
The patient monitoring application generated the highest revenue in 2019, accounting for about two-fifths of the total share, and is anticipated to maintain this trend from 2020 to 2027. The diagnostics application is expected to grow rapidly throughout the forecast period. This is due to the growth in incidence of hospital-acquired infections and increase in life expectancy among people.
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