Global disposable medical sensors market is forecasted to attain a value of $8.9 billion by 2023, growing at a CAGR of 10.4 % during 2017-2023.
The growth in the market will be led by the increasing prevalence of health care-associated infections (HAIs), growing demand for low cost medical equipment, increasing R&D investments, and rising prevalence of diabetes and cardiovascular diseases.
Access Report Summary with Detailed TOC on "Disposable Medical Sensors Market by Product (Biosensors, Accelerometers, Pressure Sensors, Temperature Sensors, Image Sensors), by Placement of Sensor (Strip, Wearable, Implantable, Invasive, Ingestible), by Application (Diagnostic (Blood Glucose, Pregnancy, Drug and Alcohol, HIV), Therapeutic (Dialysis, Cardiac Therapy, Cardiac Catheter, Insulin Pump), Patient Monitoring (Cardiac Monitors, Pulse Oximeters, cBP Monitors, CGM Devices, Smart Pills, ILRs), Imaging (Capsule Endoscope, Disposable Endoscope)), by Geography (U.S., Canada, Germany, France, U.K., Italy, Spain, Japan, China, India, Brazil, Mexico, Argentina, Saudi Arabia, South Africa, Egypt) – Global Market Size, Share, Development, Growth and Demand Forecast, 2013-2023" at: https://www.psmarketresearch.com/market-analysis/disposable-medical-sensors-market
Insights on market segments
The disposable medical sensors market has been categorized as biosensors, accelerometers, pressure sensors, temperature sensors, image sensors, and others, based on product. Image sensors are expected to witness fastest growth in demand during the forecast period, due to the increasing adoption for complementary metal-on silicon oxide semiconductors (CMOS) image sensors with high performance and integration functionality. The category is expected to register a CAGR of 19.2% during the forecast period.
Strip sensors generated highest revenue, based on placement of sensor, in the disposable medical sensors industry in 2016, due to their ease of usage, faster results, non-infectious nature, and wide applications in diagnostic devices. Based on application the industry is classified into diagnostic, therapeutic, patient monitoring, and imaging devices. Among these applications, the disposable medical sensors market is predicted to be led by imaging devices during the forecast period. The growth in the category is primarily attributed to the increasing use of CMOS image sensors that provides higher resolution, 3D imaging, and precision manipulation.
Asia-Pacific is predicted to be the fastest growing market for disposable medical sensors
Asia-Pacific disposable medical sensors market is predicted to witness fastest growth, due to the increasing healthcare expenditure over the years, rise in prevalence of chronic diseases in the region, growing government initiatives and funding for R&D sector, and increase in the adoption of advanced technologies. According to the International Diabetes Federation (IDF) 2015 report, China and India are among the top ten countries with the highest number of people suffering with diabetes. An estimated 109.6 million and 69.2 million people are suffering from diabetes in China and India, respectively, and it has been projected that the number will reach up to 150.7 million and 123.5 million, by 2040.
Major players in the market are launching new and innovative products to gain a larger share
Globally, the key providers in the disposable medical sensors industry are launching new products to gain a larger market share. For instance, in February 2017, Sensirion AG, announced the launch of its new proximal flow sensor SFM3400, at the MD&M West trade fair in in Anaheim, California. The SFM3400 is a fully bi-directionally calibrated digital flow sensor with fast signal processing time. It measures flow rates of up to 33 slm with respiratory applications used in neonatology and paediatrics. The sensor is available as both single use (SFM3400-D) and reusable (SFM3400-AW) solution.
Some of the other key players operating in the disposable medical sensors market include Medtronic Plc, General Electric Company, Koninklijke Philips N.V., TE Connectivity Ltd., Smiths Group plc, NXP Semiconductors N.V., Honeywell International Inc., STMicroelectronics N.V., and Gentag, Inc.
GLOBAL DISPOSABLE MEDICAL SENSORS MARKET SEGMENTATION
By Placement of Sensor