The World Medical Sensors Market Report Segmented on the Basis of Types which Comprises of Temperature Sensors, Blood Glucose Sensors, Blood Oxygen Sensors, ECG Sensors, Image Sensors, Motion Sensors, Inertial Sensors, Pressure Sensors, Others.
Global Medical Sensors Market – Segmentations
The analysis is segmented into four key dynamics for the convenience of understanding;
By Application: Diagnostics, Monitoring, Medical Therapeutics, Imaging, and fitness among others.
By Sensor Placement: Strip sensors, Implantable sensors, Wearable sensors, Invasive/non-invasive sensors, Ingestible sensors, and others.
By Regions: Europe, North America, APAC and the Rest-of-the-World.
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Global Medical Sensors Market – Key Players
Some of the players leading the market include GE Healthcare, First Sensor AG, Medtronic Plc., Measurement Specialties Inc., NXP Semiconductors N.V., STMicroelectronics N.V., Honeywell International, Inc., STMicroelectronics, Smiths Medical, Given Imaging, Inc., and Philips Healthcare among others.
Global Medical Sensors Market – Overview
Considering the phenomenal growth market is witnessing currently; Market Research Future (MRFR) in its recently published study report asserts that global medical sensors market will aggrandize extensively by 2022 registering a CAGR of 7.6% between 2016 and 2022.
Additional factors propelling the market growth include the rising prevalence of chronic diseases such as COPD and others and the augmented demand for intensive care for patients in critical conditions.
Moreover, the proliferation of home healthcare-based medical devices that are embedded with sensors is supporting the market allowing patients to self-diagnose and monitor chronic diseases with the increased accuracy in disease management through notifications alerts, and real-time patient data communication. These advantages alongside the sensor-enabled pills are fostering the growth of medical sensors market to a great deal. Furthermore, the increasing geriatric populace and rapidly changing lifestyle propel the growth of the medical sensors market.
Global Medical Sensors Market – Competitive Analysis
The well-established medical sensors market appears fragmented due to a number of matured players illustrating the space as highly competitive. These players are focusing on developing their product portfolio with the help of advanced technologies.
Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players. Large players are investing in internal R&D activities to bring novelties to their existing products as well. Increasing government funding is also expected to motivate key companies to develop new medical sensors that match the changing trends and needs of the patrons.
Industry/ Innovation/ Related News
December 24, 2018 — Teva Pharmaceutical Industries Ltd. (Israel), a multinational pharmaceutical company announced receiving of FDA approval for its digital respiratory therapeutic – ProAir, a Digihaler. ProAir is the only digital inhaler with built-in sensors and a companion mobile app designed to provide inhaler use information to people with asthma and COPD. The built-in sensor is designed to detect when the inhaler is used as well as measure inspiratory flow.
December 24, 2018 — A team from the King Abdullah University of Science and Technology (KAUST) in Saudi Arabia developed a paper sensor for diabetics to monitor blood sugar using the inkjet technology. These paper sensors are sensitive to small sugar concentrations in biofluids as well.
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Global Medical Sensors Market – Geographical Analysis
The North American region accounts for the dominating market for the medical sensors. Factors substantiating the growth of the market in the region include technological advancements and the wide uptake of technologies in healthcare.
Substantial investments in the R&D activities for the development of new sensors and the extensive uses of sensor technology in the diagnosis, prognostic treatments, and drug delivery drive the market growth.
Moreover, factors such as the rising geriatric population, high healthcare expenditures, increasing government initiatives and funding for research are positively impacting the market growth in the region.
The European region is estimated to qualify as the second-largest market for medical sensors. Factors such as the availability of advanced treatment facilities, well-established healthcare infrastructure, and the growing demand for quality healthcare propel the market in the region.
Whereas, the Asia Pacific medical sensors market is proliferating, emerging as one of the promising markets, globally. The rising healthcare expenditure and improvement in the standard of living due to the improving economic conditions in the region are propelling the market growth in the APAC.
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