Secrets About Disposable Medical Sensors Market That Nobody Will Tell You
“Disposable Medical Sensors Market Growth, Future Prospects, and Competitive Analysis, 2018 -2026” the disposable medical sensors market was valued at US$ 4,461.8 Mn in 2017 and expected to reach US$ 8,118.7 Mn by 2026, expanding at a CAGR of 6.81 % from 2018 to 2026.
Low cost and reduced sanitization risks associated with disposable medical sensors in comparison to reusable medical sensors have contributed to the increased adoption of disposable medical sensors during the forecast period from 2016 to 2026. Increased prevalence of chronic diseases such as diabetes, cancer, autoimmune diseases predominantly drives this market. For instance, the soaring consumer adoption of continuous glucose monitoring devices wherein disposable medical sensors are utilized. Additionally, the rise in adoption and awareness related to the availability of low cost disposable medical sensors among consumers and increased R&D activities have catalyzed the growth of this market. The advent of newer technologies such as Micro-Electro-Mechanical-Systems (MEMS) and Complementary Metal-Oxide-Semiconductor (CMOS) has contributed to the growth of image sensors making it the fastest growing segment attaining maximum CAGR during the forecast period from 2018 to 2026.
Its appearance upset, remote sensor innovation, disposable sensors, and biosensors in healthcare has assumed a critical part in the development of sensors in healthcare.
Also, the approach of microsystem innovations, for example, MEMS, SI-based sensors, and microfluidic chips has changed the medical and pharmaceutical hardware section with more noteworthy exactness, accuracy attributes, propelled control, and low power utilization in gadgets and gear.
This market is relied upon to develop at a CAGR of 10.3% amid the gauge time of 2015 to 2020. A lion’s share of this development is credited to the rising rate of doctor’s facility obtained diseases, heightening healthcare costs, speculations by financial speculator firms in the advancement of disposable sensor-based gadgets, and government bolster for R&D exercises for these gadgets.
The expansive offer of this section is predominantly ascribed to the expanding interest for observing and analytic gadgets, for example, constant blood glucose checking and wide utilization of pregnancy test strips, HIV test strips, medication and liquor test strips, and glucose test strips in home healthcare and purpose of-mind (POC) diagnostics.
Among various sensors available namely biosensors, pressure, accelerometer, temperature, image, and flow sensors, biosensors maintain supremacy and expected to grab largest market share during the period from 2016 to 2026. Biosensors find wide application in diagnostic and patient monitoring devices. The advent of glucose testing & monitoring devices and other newer technologies has propelled the growth of disposable biosensors. For instance, the emergence of wireless biosensors by Philips Healthcare has gained major market attraction amongst hospitals and outpatient settings. This wireless biosensor helps in monitoring patient’s vital signs and motility changes.
North America expected to maintain supremacy in the global disposable medical sensors market during the period from 2016 to 2026. Availability & accessibility of newer disposable medical sensors, increased prevalence of chronic diseases, the presence of major industrial players and increased disposable income amongst people drive the North America disposable medical sensors market. Government initiatives and increased awareness of the availability of newer advanced medical devices drive the growth of disposable medical sensors in low and middle-income economies. Presence of market players namely, Medtronic International Ltd., GE Healthcare Ltd., Sensirion AG and many further catalyze the market growth in the Asia Pacific.
Market Competition Assessment:
Disposable medical sensors market reaches out across geographies rendering the market highly competitive. Partnerships and acquisitions by major player’s increases market threats for emerging players with respect to long-term existence. However, funding by leading players to smaller firms could create opportunities for market penetration and growth. For instance, VitalConnect, Inc. raised money in series C funding, which was led by MVM Life science Partners and Baxter Ventures, enabling it to launch its product VitalPatch a wearable biosensor. The key industrial players of disposable medical sensors market are Amphenol Corporation, Analog Devices, Inc., GE Healthcare Ltd., Medtronic Plc., NXP Semiconductor N.V., OmniVision Technologies, Inc., Philips Healthcare Informatics, Inc., Sensirion AG, Smiths Medical, Inc., SSI Electronics, Inc., STMicroelectronics and TE Connectivity Ltd.
Key Market Movements:
Globally disposable medical sensors market witnesses a lucrative growth with a CAGR of 6.18% for the forecast period from 2018 to 2026
Cost-effectiveness and reduction in hygiene risks drive the rising adoption of disposable medical sensors market
Among all sensor types, biosensors expected to attain largest market share during the period from 2016 to 2026
The introduction of smart connectivity options enables remote monitoring of patients thus catalyzing the growth of patient monitoring devices
Table of Content –
Chapter 1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I-Secondary Research
1.3.2. Phase II-Primary Research
1.3.3. Phase III-Expert Panel Review
Chapter 2. Executive Summary
2.1.1. Global Disposable Medical Sensors Market Portraiture
2.2. Global Disposable Medical Sensors Market, by Sensor Type, 2017 (US$ Mn)
2.3. Global Disposable Medical Sensors Market, by Technology, 2017 (US$ Mn)
2.4. Global Disposable Medical Sensors Market, by Application, 2017 (US$ Mn)
2.5. Global Disposable Medical Sensors Market Share, by Geography, 2017 (US$ Mn)
Chapter 3. Global Disposable Medical Sensors Market: Dynamics and Future Outlook
3.1. Market Overview
3.2. Market Dynamics
22.214.171.124. Higher cost-efficiency and hygiene value in comparison to reusable medical sensors
126.96.36.199. Increased partnerships
188.8.131.52. Stringent regulatory policies
184.108.40.206. Increasing awareness amongst lower and middle-income countries
3.3. Attractive Investment Proposition, by Geography, 2017
3.4. Competitive Landscape, by Key Players, 2017
Chapter 4. Global Disposable Medical Sensors Market Analysis, by Sensor Type, 2016-2026 (US$ Mn)
4.3. Pressure Sensors
4.4. Accelerometer Sensors
4.5. Temperature Sensors
4.6. Image Sensors
4.7. Flow Sensors
Chapter 5. Global Disposable Medical Sensors Market Analysis, by Technology, 2016-2026 (US$ Mn)
5.2. Strip Sensors
5.3. Wearable Sensors
5.4. Implantable Sensors
5.5. Ingestible Sensors