Medical Sensors Market Overview and Forecast by Market Dynamics, Regions, Opportunities, Vendors

Medical Sensors Market – Insights

Medical sensors measure the physical functions of the body and are used in monitoring of chronic diseases such as cancer, cardiovascular, and respiratory diseases. These sensors convert the mechanical readings into electrical or optical signals. Medical sensors alert critical deviations, which are recorded in vital signs in order to help enhance quality of healthcare. These sensors are used to monitor temperature, pressure, vibration, inclusive of various diagnostic parameters and analysis.

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Medical Sensors Market Taxonomy:

By Product Type

Pressure

Temperature

Image

Accelerometers

Biosensors

Flow

Superconducting Quantum

By Application

Surgical

Diagnostic

Therapeutic

Monitoring

By End User

Hospitals

Clinics

Ambulatory Surgical Centers

Others (Nursing Homes, Home Healthcare Facilities)

By Sensors Placement Type

Strip Sensors

Wearable Sensors

Ingestible Sensors

Implantable Sensors

Invasive/ Non-Invasive Sensors

Medical Sensors Market: Drivers

Increasing geriatric population prone to chronic disorders is expected to boost growth of the global medical sensors market. For instance, according to the National Institute of Aging, the number of people aged 65 years or above was 617 million in 2016 and is expected to reach 1.6 billion by 2050. Increasing demand for medical sensors for diagnostic and therapeutic purposes is also expected to boost the market growth. Furthermore, increasing prevalence of chronic diseases such as chronic obstructive pulmonary disease (COPD), cardiovascular disease, kidney disease, and respiratory disease is expected to boost growth of the medical sensors market. For instance, according to the Centers for Disease Control and Prevention, around 15.7 million people were diagnosed with COPD in the U.S. in 2014.

Increasing use of implantable and wearable medical devices also contributes to growth of the market. Furthermore, there is a wide range of benefits of the use of medical sensors in medical devices, which increased the accuracy in disease management through notifications alerts, and real time patient data communication. Which expected to support the growth of medical sensors market.

Medical Sensors Market: Regional Analysis

North America is expected to hold dominant position in the global medical sensors market over the forecast period. This is attributed to increasing number of minimally invasive surgeries and availability of healthcare reimbursement policies.

Increasing prevalence of diabetes, respiratory diseases, and cardiovascular diseases and growing investment in the healthcare sector is expected to boost growth of the market in Asia Pacific.

Medical Sensors Market: Competitive Landscape

Major players operating in the global medical sensors market include, GE Measurement & Control, Analog Devices Inc., Broadcom Limited, Honeywell International Inc., Danaher, LORD Corporation, and OmniVision Technologies Inc.

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