The disposable medical sensors market size is projected to reach $8.9 billion by 2023, growing at a CAGR of 10.4% during 2017-2023.
The market is growing mainly due to 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.
The European market for disposable medical sensors is expected to reach $2.3 billion in 2023, growing at a CAGR of 9.8% between 2017-2023. Europe offers significant opportunities for the growth of disposable medical sensors market. These opportunities are characterized by the increasing adoption of clinically advanced and development of sensor technologies by pharmaceutical companies operating in the region. Additionally, increase in rate of prevalence of chronic diseases such as diabetes and CVD are severely impacting the European population. According to the European Cardiovascular Disease Statistics (2017) published by the European Heart Network (EHN), CVD causes 3.9 million deaths in the Europe and more than 1.8 million deaths in the European Union (EU), every year. Increasing usage of sensors for diagnostic and prognostic application of various chronic diseases escalates the European disposable medical sensors market.
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Over the years there has been an increase in prevalence of diabetes and cardiovascular diseases, that drives the manufacturers in the disposable medical sensors market to develop sensory monitoring devices such as CGM, cardiac monitors, and continuous blood-pressure monitors (CBP) to cater to the need of the market globally. Cardiovascular disease is the leading cause of premature death around the world. High prevalence of cardiovascular diseases depicts increased demand for devices to monitor heart rates, respiratory rates, temperature, fluid levels and patient activity. According to the WHO, approximately 17.7 million people died from cardiovascular disease in 2015, representing 31% of the global deaths. Of these deaths, approximately 7.4 million deaths were due to coronary heart disease and 6.7 million were due to stroke.
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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., and Gentag, Inc.
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The primary reason for the sector to witness significant growth is due to the rising end-user demand from medical and pharmaceutical industries.
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.
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 InsightsThe disposable medical sensors industry is majorly segmented by product into temperature sensors, biosensors, accelerometers, pressure sensors, and 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.The market is also bifurcated by placement of sensors into strip sensors, implantable sensors, invasive sensors, ingestible sensors, and wearable sensors.
Strip sensors are anticipated to account for a major market share of more than 45% over the next seven years and thus reaching USD 2.94 billion by revenue in 2020.
The aforementioned factors are attributed to expect significant sector growth over the next seven years.Regional InsightsNorth America and Europe are anticipated to witness major market share of more than 50% over the forecast period owing to the growing need to curtail escalating healthcare costs, rising number of incidence of HAIs and increasing use of portable medical devices for the homecare medical applications.
The disposable medical sensors market size is projected to reach $8.9 billion by 2023, growing at a CAGR of 10.4% during 2017-2023.The disposable medical sensors find application in diagnostic devices, therapeutic devices, patient monitoring devices, and imaging devices.
The increase in prevalence of diabetes, led to the adoption of diagnostic devices for blood glucose monitoring, resulting into its largest contribution in the global disposable medical sensors market.
Increasing use of CMOS image sensors that provides higher resolution, 3D imaging and precision manipulation, will act as key factors leading to the fastest growth in demand of disposable sensors for imaging devices, at a CAGR of 23.5% during the forecast period.Download Sample Copy of This Research Report: https://www.psmarketresearch.com/market-analysis/disposable-medical-sensors-market/report-sample Over the years there has been an increase in prevalence of diabetes and cardiovascular diseases, that drives the manufacturers in the disposable medical sensors market to develop sensory monitoring devices such as CGM, cardiac monitors, and continuous blood-pressure monitors (CBP) to cater to the need of the market globally.
Cardiovascular disease is the leading cause of premature death around the world.
High prevalence of cardiovascular diseases depicts increased demand for devices to monitor heart rates, respiratory rates, temperature, fluid levels and patient activity.
According to the WHO, approximately 17.7 million people died from cardiovascular disease in 2015, representing 31% of the global deaths.
Distinctive market improvement activities and business methodologies utilized by industry players to beat macroeconomic conditions, including new thing/organization progression, joint undertakings, associations, unions and acquisitions, and so forth, are refered to in the report.
The association profiles for the Worldwide Disposable Medical Sensors Market contain a business diagram, thing/organization commitments, SWOT Analysis, part and full scale pay, gross edge, and percent piece of the general business.To clarify the moving toward adventure pockets, the assessment recalls for significance examination, most recent things, and future guesses of the Disposable Medical Sensors Market.
The parts that drive and limit the advancement of the Disposable Medical Sensors Market are altogether reviewed.
Porter’s Five Forces study complements the power of buyers and suppliers in aiding accomplices in making fundamental business decisions and choosing the level of industry force.
Expansive assessments of key mechanical areas help in understanding the different sorts of things and advances used in different bits of the world.In light of districts, the Disposable Medical Sensors Market report covers the U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of the Middle East and Africa (MEA) as a piece of the Middle East and Africa(MEA), Brazil, Argentina and Rest of South America as an element of South America.Get a Sample Copy of the Report to understand the structure of the complete reporthttps://www.oneupbusinessinsights.com/request_sample.php?tname=316847Top key players: Abbott (US), F. Hoffmann-La Roche Ltd. (Switzerland), Medtronic (Ireland), Texas Instrument (US), Platinum Equity Advisors LLC (US), NXP Semiconductors (Netherlands), General Electric Company (US), TE Connectivity (Switzerland), STMicroelectronics (Switzerland), Honeywell International Inc. (US), Analog Devices, Inc. (US)Segmentation of Disposable Medical Sensors Market:Product Type CoverageBiosensorsTemperature SensorsPressure SensorsImage SensorsPatient Position SensorsOthersApplication CoverageHospitalsDiagnostic LaboratoriesClinicsPersonal CareOthersDisposable Medical Sensors Market: Regional Segment AnalysisMore Information:The report includes :1.)
The Asia Disposable Medical Sensors Market;3.)
The expendable clinical sensors are distinguished as financially savvy and useful assets for observing and diagnosing illnesses just as essential human boundaries, and for different helpful applications.
Sensor-based gadgets have advanced over the course of the years as far as progress and applications.
For example, carbon nanotube-based biosensors are utilized for the identification of microorganisms like S. aureus and E. coli.
The expanding commonness of constant sicknesses is encouraging interest for sensors in facilities just as the home symptomatic gadgets.
This is supported by the ascent in steady persistent checking and determination volume, which thus is required to advance higher deals of these dispensable items.
Innovative headway, for example, the malignant growth following sensor, Micro-Electro-Mechanical Systems (MEMS) sensor innovation, and fiber optic innovation is relied upon to drive the disposable medical sensors market.
