Global Medical Sensors Market and Factors Behind its Growing Landscape | Key Players: Texas Instrument, TE Connectivity, First Sensor, Medtronics plc, NXP Semiconductors, Tekscan Inc.
This report is a comprehensive research on the Medical Sensors market. It is designed to analyze and forecast the size of the Medical Sensors market across a variety of industries, includes short-term and long-term trends that affect market conditions. In addition, the report provides market momentum, constraints, and potential opportunities.
Increasing government programs promoting research and innovation in the healthcare sector are expected to drive the growth of the global medical sensors market. For instance, in 2018, the University of South Australia (UniSA) established a joint laboratory with the Shandong Academy of Sciences (SDAS) for advanced lasers and sensors with the support of the Australian government.
Rising expenditure on healthcare across the world is expected to drive the growth of the global medical sensors market. According to the Organization for Economic Co-operation and Development (OECD), in 2019, healthcare expenditure in the U.S. was equivalent to 17% of GDP. Furthermore, Germany was second with 12.2% followed by France, Sweden and Japan all having an expenditure of around 11%.
Stringent regulations by the government for the manufacturing of different medical sensors are expected to restrain the growth of the global medical sensors market.
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North America is expected to dominate the global medical sensors market, owing to the rise in healthcare expenditure in this region. According to American Medical Association (AMA), health expenditure in the United States increased by 4.6% in 2018 from 4.2% in 2017.The
Asia Pacific is expected to grow rapidly in near future, owing to high investments made by governments of emerging countries in this region such as India and China in the healthcare sector. According to the India Brand Equity Foundation (IBEF), hospitals and diagnostic centers attracted Foreign Direct Investment (FDI) worth US$ 6.72 billion between April 2000 and March 2020. According to the same source, The Government of India aims to increase healthcare spending expenditure to 3% of the Gross Domestic Product (GDP) by 2022.
Key competitors of global medical sensors market are Texas Instrument, TE Connectivity, First Sensor, Medtronics plc, NXP Semiconductors, Tekscan Inc., Amphenol Advanced Sensors, Proteus Digital Health, Sensirion, Cirtec Medical, Sensirion, Innovative Sensor Technology, Keller America, OmniVision Technologies, and Masimo, TDK Sensors.
In May 2019, TE Connectivity Ltd., a global technology company for different types of connectivity and sensing solutions, acquired Alpha Technics, which is a manufacturer of medical temperature measurement products and solutions.
In May 2019, Analog Devices, Inc. announced a new electrochemical & impedance measurement front end, which has vital sign monitoring devices and intelligent electrochemical sensors.
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Research studies use the analysis of the different types of information contained in the survey to analyze Medical Sensors at the global, regional, and national levels. The main strategies seen by Medical Sensors companies in recent years are diversification, application expansion, and investment in new markets.
The report primarily looks at Medical Sensors market size, recent trends and developments, investment opportunities, market dynamics (driving factors, restraining factors, etc.), and industry news (merger, acquisition, investment, etc.). Technological innovations and advances will further optimize product performance and make it more widely used in downstream applications. In addition, Porter's Five Forces Analysis (potential entrants, suppliers, agents, buyers, industry competitors) provides important information to know the Medical Sensors market.
Key questions answered in the report:
• What is the growth potential of the Medical Sensors market?
• Which product segment has the largest market share?
• Which regional markets will you lead in the coming years?
• Which application segment will grow strongly?
• What kinds of growth opportunities will be created in the Medical Sensors industry in the future?
• What are the biggest challenges for the global Medical Sensors market going forward?
• Who is the global market leader for Medical Sensors?
• What are the main trends that have a positive impact on market growth?
• What growth strategies are players considering to stay in the global Medical Sensors market?
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