Biomedical Temperature Sensors Market 2022 Highlights Recent Trends, Market Growth, Business Opportunities till 2026
The biomedical temperature sensors market was valued at USD 6.17 billion in 2020, and it is expected to reach a value of USD 8.36 billion by 2026, projecting a CAGR of 5.18% during the forecast period (2021-2026).
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Top Leading Companies of Biomedical Temperature Sensors Market are - TE Connectivity Ltd, Amphenol Advanced Sensors, Weed Instrument Co., Smiths Medical Inc., Minco Products Inc., LumaSense Technologies Inc., Dwyer Instruments Inc., Analog Devices Inc., Texas Instruments Incorporated, Pyromation Inc. and others.
Industry News and Updates:
- September 2018 - TE Connectivity launched the online TE Store, which offers customers the option to purchase featured products direct via TE.com or through select distributors, along with instant access to product pricing, daily updates on product availability, and flexible shipping and delivery options.
Key Market Trends:
Fiber Optic Sensors (FoS) is Expected to Hold a Significant Share
- Fiber optic probes undergo total internal reflection and aid in possible future biomedical applications to carry out the simultaneous collection and analysis of samples for drug safety evaluation. It also helps in the sensing of biomolecules, identification of drug molecules, effluent monitoring, and overall pharmaceutical quality control of the product.
- Biomedical FOS can be categorized into four main types: physical, imaging, chemical, and biological. Meanwhile physical sensors measure a variety of physiological parameters, such as body temperature, blood pressure, and muscle displacement, imaging sensors encompass advanced techniques, such as optical coherence tomography(OCT) and photoacoustic imaging.
North America is Expected to Lead the Market
- Due to increasing need for medical services in the United States, North America is expected to experience lucrative growth, as the medical sensor providers are focusing on developing high value-add equipment catering to the rising needs. On the other side, stringent government guidelines across the region, along with the growing healthcare sector, are expected to trigger the growth of the market in this region.
- The US health expenditure increased by 5.3% in 2018, reflecting growing prices of medical goods and services and higher medicaid costs. The increase represents a sharp turn from 2017 spending, which the US Centers for Medicare and Medicaid Services (CMS) agency, in 2018, estimates to have been a 4.6% increase, to nearly USD 3.5 trillion.
Investigator Observers Strong Growth in Specific Regions:
– Europe Market (Germany, UK, France, Russia, Italy)
– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
– South America Market (Brazil, Argentina, Colombia)
– North America Market (United States, Canada, Mexico)
– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).
The Latest Industry Data Included in this Report:
- Biomedical Temperature Sensors Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Biomedical Temperature Sensors Market (%),2016 - 2026
- Biomedical Temperature Sensors Market Share, By Brand
- Biomedical Temperature Sensors Market Share, By Company
- Biomedical Temperature Sensors Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Biomedical Temperature Sensors Market Value Analysis & Forecast
- Promising Biomedical Temperature Sensors Development by Major Companies
- Detailed Biomedical Temperature Sensors Portfolio of the Major Companies
- Major Deals in the Biomedical Temperature Sensors Market
- Major Companies Analysis
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