Disposable Medical Sensors Market Size & Forecast Report, 2025

 

Global Disposable Medical Sensors Market strategic research study offers company accounts, industry investors, and industry members with consequential insights to enable them to make reliable strategic decisions regarding the opportunities in the global market.

 

In this report, we thoroughly examine and analyse the Global market for Disposable medical sensors so that market participants can improve their business strategy and ensure long-term success. This report provides players with useful information and suggests result-based ideas to give them a competitive advantage in the global Disposable medical sensors industry. It will show how other players compete in the global Disposable medical sensors Market and explain the strategies you use to differentiate yourself from other participants.

 

This Research Report Answers the Following Questions:

·         How Disposable medical sensors market will grow in the coming year?

·         Will the COVID-19 pandemic surge the demand for such platforms?

·         How are key companies planning to promote benefits of Disposable medical sensors?

·         What are the industry growth drivers, obstacles, and dynamics?

·         Which segment is expected to lead in the coming years?

 

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Industry Insights

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. 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.

 

Technology Insights

The industry segmentation on the basis of technology includes pressure sensors, image sensors, accelerometers, biosensors and temperature sensors. Rising demand for constant diagnostic and monitoring devices including blood glucose monitors and cardiac pacemakers are the few dynamics likely to propel the biosensor segment market over the next seven years. The biosensors segment is thus anticipated to account for major market share by 2020.

 

Application Insights

The disposable medical sensor market is segmented by application into diagnostic testing devices, patient monitoring devices, therapeutic devices and imaging devices. In 2013, diagnostic testing devices application segment accounted for major market share and owing to rising prevalence of chronic disease coupled with increasing geriatric population base the segment is anticipated to witness similar trend by 2020. On the other hand, patient monitoring devices segment is projected to report the fastest growth over the forecast period majorly due to growing number of patients suffering from diabetes and cancer. The aforementioned factors are attributed to expect significant sector growth over the next seven years.

 

Regional Insights

North 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. Particularly, the UK, Germany, Italy, France and the US are projected to account for growth in the region primarily due to rising R&D endeavours to develop low cost, high quality, and easily operated medical devices.

 

Asia Pacific is anticipated to account for fastest growth by 2022 majorly due to the growing awareness regarding benefits of disposable medical sensors and increasing technological advancements. India, China, and Japan are anticipated to report the highest share in the region primarily due to the rising disposable income and changing lifestyle.

 

The Middle East & Africa is projected to see significant growth by 2022 mainly owing to increasing urbanisation, globalisation, and industrialisation. The sector has huge potential in this region primarily owing to rising per capita income and foreign investments.

 

Competitive Insights

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. The aforementioned companies account for more than 40% of the market share. Companies through mergers & acquisitions and strategic expansions have been trying to cater large volume of customers with medical sensor devices that are cost effective, easily portable and disposable.

 

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