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Disposable Medical Sensors Market Report, History And Forecast 2025, Breakdown Data By Manufacturers, Key Regions, Types And Application

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Rahul Sharma
Disposable Medical Sensors Market Report, History And Forecast 2025, Breakdown Data By Manufacturers, Key Regions, Types And Application

The Disposable Medical Sensors Market size was valued at USD 5.1 billion in 2016 and it is anticipated to report USD 12.3 billion in 2025, with a growth rate of 10.2% CAGR. The primary reason for the sector to witness significant growth is due to the rising end-user demand from medical and pharmaceutical industries. Rising prevalence of infectious diseases, growing government initiatives towards innovating medical sensor products, and increasing awareness among people regarding benefits are the key drivers expected to propel the market growth over the forecast period.

 

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Key Players:

Key players of the market include Honeywell International Inc., Covidien Plc, Analog Devices, Inc., Given Imaging, Freescale Semiconductor Inc., Measurement Specialties GE Healthcare, Philips Healthcare, Medtronic, Smiths Medical, STMicroelectronics, and Sensirion AG.

 

Growth Drivers:

 

Few other factors such as growing adoption in the companies as a faster medical analysis technique, rising awareness regarding product low cost, and increasing need to restrict escalating healthcare related costs are anticipated to fuel the disposable medical sensors industry demand over the next seven years. However, rising need of clinical data requirement for the product development, and growing insufficient reimbursement policies for sensor devices are few factors projected to challenge the market and thus hindering its growth over the forecast period.

 

On a contrary, rising need for sensors in domestic as well as in clinics applications for the treatment and diagnostic purposes are projected to drive the market growth over the next seven years. Increasing R&D endeavours with technological advancements has enabled the disposable medical sensor industry to witness advanced products including MEM sensor technology for detecting C - reactive protein, fibre optic technology, and cancer tracking sensors, which are anticipated to propel the market demand over the forecast period. Furthermore, the growing prevalence of long term and chronic diseases coupled with rising demand for patient diagnosis and monitoring has enabled the market to expect significant growth by 2020. The increasing adoption of strip and wearable medical sensors that help in continuous patient diagnosis is expected to open new opportunities in the industry, thus boosting the growth by 2020.

 

Product Insights

 

The disposable medical sensors industry is majorly segmented by product into temperature sensors, biosensors, accelerometers, pressure sensors, and image sensors. Image sensor segment is projected to witness the fastest growth of more than 22% CAGR over the forecast period owing to rising awareness and acceptance of CMOS image sensors. On the other hand, biosensors are anticipated to account for the largest market share of more than 65% over the next seven years primarily due to the growing usage of endoscopy products such as camera pills and increasing need of endoscopic procedures for numerous medical operations.

 

Browse Detailed Research Insights with Table of Content: https://www.millioninsights.com/industry-reports/disposable-medical-sensors-market

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