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Medical Patches and Sensors Market Set to Surge - Key Insights You Must Know | Valuates Reports
What Is the Projected Growth of the Global Medical Patches and Sensors Market by 2031?The global market for Medical Patches and Sensors was valued at US$ 1370 million in the year 2024 and is projected to reach a revised size of US$ 2186 million by 2031, growing at a CAGR of 7.0% during the forecast period.
According to our research, the global market for medical devices is estimated at US$ 603 billion in the year 2023 and will be growing at a CAGR of 5% during the next six years. The global healthcare spending contributes to occupy 10% of the global GDP and is continuously rising in recent years due to the increasing health needs of the aging population, the growing prevalence of chronic and infectious diseases, and the expansion of emerging markets.
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The medical devices market plays a significant role in the healthcare industry. The market is driven by several factors, including the increasing demand for advanced healthcare services globally, advancements in medical technology, growing geriatric population, rising healthcare expenditure, and increasing awareness about early disease diagnosis and treatment.
How Is the Medical Patches and Sensors Market Segmented by Type and Application?
Segment by Type
• Humidity Sensors
• Pressure Sensors
• Temperature Sensors
• Blood Glucose Sensors
• Oxygen Sensors
• Airflow Sensors
• Others
Segment by Application
• Hospital
• Clinic
• Household (Home Care Products)
• Laboratory
Which Companies Are Leading the Global Medical Patches and Sensors Market?
By Company
• TE Connectivity
• Medtronic
• Texas Instruments
• STMicroelectronics
• Analog Devices
• OmniVision Technologies
• Honeywell
• Sensirion
• Amphenol
• ROHM
• NXP
• Hamilton Medical
• Tekscan
• Angst+Pfister
• Cubic Sensor and Instrument Co
• Zhengzhou Winsen
• MinebeaMitsumi
• Desin International
• Shenzhen Amydi-med
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