Global Disposable Medical Devices Sensors Market to Reach $10.83 million by 2021

The Global Disposable Medical Devices Sensors Market was worth USD 6.56 billion in 2016 and estimated to be growing at a CAGR of 10.55 to reach USD 10.83 million by 2021. Disposable medical devices are used to detect particular data for patient monitoring or diagnosis of diseases. They are portable scanning devices used to measure heart rate, breathing rate and body temperature. They are emerging as powerful, cost-effective tools for identification of disease caused by virus, bacteria, and fungi.

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Sensor-based devices have enhanced in terms of characteristics, technology, and performance due to the continuous improvements of electronics in medical and pharmaceutical applications. With the advancement of IT and wireless sensor technology, disposable sensors and biosensors are playing a significant role in the healthcare. Furthermore, the increase in technology of microsystems such as MEMS, SI-based sensors, and microfluidic chips has become a benchmark in the healthcare sector with great accuracy and characteristics.

Increasing incidence of chronic diseases such as cancer, diabetes and other infectious diseases particularly in geriatric population and increasing innovations in the development of medical sensors for diagnosis are the primary factors augmenting the global market for disposable medical sensors. Moreover, factors like huge investment by private players, increasing the need for remote patient monitoring and next-generation disposable medical sensors, government support towards R&D in the field of sensors, the requirement of cost-effective devices and accessories and raising awareness about medical sensors are also driving the global disposable medical sensors. However, factors like stringent regulatory approval procedures, lack of reimbursement policies and a limited number of skilled professionals are hindering the growth of the market.

The Global Disposable Medical Devices Sensors Market is segmented on the basis of type, placement of sensors, application and end-user. Based on the type, the market is segmented into biosensors, temperature sensors, pressure sensors, accelerometers, image sensors, and others. In 2016, the biosensors segment accounted for the largest share of the global disposable medical device sensors market due to the wide use of pregnancy test strips, HIV test strips, drug and alcohol test strips, and glucose test strips. On the basis of placement of sensors, the market is segmented into invasive sensors, wearable sensors, implantable sensors, ingestible sensors, and strip sensors. The strip sensors segment accounted for the largest share of the global market in 2016 due to the cost-effectiveness, increasing usage of strip sensors in glucose monitoring tests, ease of use and faster results. Ingestible medical sensors are the fastest growing sub-segment. Applications segment is categorized into patient monitoring, diagnostics, therapeutics and imaging devices of medical sensors. On the basis of end-user, the market is segmented into Hospitals, Home based and Laboratories.

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In terms of region, the global disposable medical device sensors market is segmented into North America, Europe, Asia-pacific, Middle East and Africa and Latin America. North America is leading the global disposable medical device sensors market followed by the Europe due to the improved healthcare infrastructure, technological advancements in medical device sensors and increasing demand. The disposable medical device sensors market in Asia is expected to witness a high growth rate due to the innovative applications of medical device sensors, increasing awareness in this region and rising economies in countries like India and China.

Key players dominating the Global disposable medical device sensors market are:
1) Medtronic plc.
2) Philips healthcare
3) Analog Devices Inc
4) GE Healthcare
5) Smiths Medical,
6) Honeywell International

Market Segmentation:
1) Type
2) Placement of Sensors
3) Application
4) End-user

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Scope of the Report:
• Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
• Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
• Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
• Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
• Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
• A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
• An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
• Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

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