Disposable Medical Devices Sensors Market Segments 2024-2033 | Size, Share And Insights

The disposable medical devices sensors market size has grown strongly in recent years. It will grow from $8.36 billion in 2023 to $9.16 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to rise in chronic diseases, stringent regulatory standards, patient preference for home healthcare, focus on infection control, remote patient monitoring initiatives, advances in point-of-care testing, increased awareness of preventive healthcare, globalization of healthcare, integration in smart implants.

The disposable medical devices sensors market size is expected to see rapid growth in the next few years. It will grow to $13.55 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to growth in telehealth services, integration in digital health platforms, focus on non-invasive monitoring, advancements in flexible electronics, expansion of neonatal care, utilization in smart bandages, enhanced connectivity in healthcare, focus on cost-effective healthcare solutions. Major trends in the forecast period include wearable health technology, advancements in sensor technologies, smart inhalers and respiratory monitoring, incorporation of artificial intelligence (ai), remote monitoring of vital signs, continuous glucose monitoring (cgm) systems, biosensor technologies.

Market Overview -
The disposable medical device sensors refer to portable handheld equipment used to diagnose, monitor, as well as treat physical attributes. The disposable medical device sensors are also referred to as handheld scanning devices intended for temporary use.

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Rising Incidence Of Chronic Illnesses Drives Expansion In Disposable Medical Device Sensors Market
The rising incidence of chronic illnesses is expected to boost the growth of the disposable medical device sensors market going forward. A chronic illness refers to a condition or disease that is persistent or that last 1 year or more and needs ongoing medical attention or limit activities of daily living. The disposable medical device sensors aid in the diagnosis, treatment, and monitoring of patients with chronic illnesses, supporting the growth of the market. For instance, according to the key facts published in September 2022 by the World Health Organization (WHO), a UN agency responsible for international public health, noncommunicable diseases (NCDs) result in the death of 41 million people each year, which is similar to 74% of all deaths worldwide and cardiovascular diseases result in most NCD deaths with 17.9 million people every year. Therefore, the rising incidence of chronic illnesses will drive the growth of the disposable medical device sensors market.

Competitive Landscape -
Major companies operating in the disposable medical devices sensors market report are Medtronic plc, STMicroelectronics NV, Honeywell International Inc., TE Connectivity plc, Smiths Medical Inc., GE HealthCare Technologies Inc., NXP Semiconductors NV, Analog Devices Inc., Omnivision Technologies Inc., Qualcomm Technologies Inc., Renesas Electronics Corporation, Texas Instruments Incorporated, Sensirion AG, Nuova GmbH, General Electric Company, Koninklijke Philips N.V., JantPharmacal, Gentag Inc., LifeScan Inc., Olympus Corporation, F. Hoffmann-La Roche AG, Hmicro Inc., SSI Electronics, ACE Medical Devices, Maxim Integrated Inc., Silicon Laboratories, First Sensor AG, Medical Sensors India Pvt. Ltd., Will Semiconductor Co., Measurement Specialities Inc., Starboard Medical Inc.

Medtronic Technological Advancements Propel Disposable Medical Device Sensors Market
Advancements in technology in sensor devices are the key trend gaining popularity in the disposable medical devices sensors market. Major companies operating in the disposable medical devices sensors market are focusing on incorporating advanced technologies including the emergence of new monitoring techniques. Such advancements enable players to gain a competitive edge in the market. For instance, in June 2022, Medtronic Plc, an American medical device company presented the latest data from Europe and Chile and clinical data on its MiniMed 780G system with the advanced Guardian Sensor 3 for insulin delivery at the American Diabetes Association (ADA) 82nd Scientific Sessions. All data showed improved user experience with the Guardian Sensor 3 which uses SmartGuard Technology. Guardian Sensor 3 enables different levels of automation suiting the lifestyle. The sensor may also be used as part of the MiniMed 780G system for people living with Type 1 diabetes age 7 and more and whose total daily dose of insulin is 8 units or more per day.

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Key Segments -

The disposable medical devices sensors market covered in this report is segmented -

1) By Product Type: Biosensors, Temperature Sensors, Pressure Sensors, Accelerometers, Image Sensors, Consumables
2) By Application: Patient Monitoring, Diagnostics, Therapeutics

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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