Global Disposable Medical Device Sensor Market Is Expected To Foresee Significant Growth During The Forecast Period. North America To Witness The Highest Growth
Global Disposable Medical Device Sensor Market is expected to reach the market valuation of US$ XX million by 2027 expanding at a reasonable CAGR of XX% during the forecast period (2021-2027) from US$ XX million in 2019. Disposable medical devices sensors are portable or handheld scanning devices used for diagnostics, therapeutics and patient monitoring. These devices are used to monitor basic vital signs or to measure breathing rates, heart rate, pulse transmit time, blood oxygenation levels, and temperatures.
The soaring demand for sensors in homes and clinics for the treatment or diagnosis purpose is one of the primary factors augmenting the global market for disposable medical sensors. The rising incidence of chronic diseases, including cancer, cardiovascular, and kidney disorders along with growing prevalence of hospital-acquired infections are stoking the growth of the global market. Moreover, over the past few years, there has been a dramatic rise in the number of admissions to hospitals. This factor is translating into the greater uptake of disposable medical sensors. Besides, the increasing initiatives by governments worldwide, growing investments in the healthcare sector, and continuous improvements in the wearable technology are providing a fillip to the global market.
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Market growth is largely driven by rising concerns over hospital-acquired infections and contamination, the increasing incidence of target conditions, the growing demand for home-based medical care devices, significant technological advancements in the last few years, and government support for R&D activities for these devices. The emerging markets in developing countries are also expected to provide growth opportunities for players in the disposable medical device sensors market.
However, the vulnerability of connected medical devices in terms of data leakages, government regulations, and the long certification and approval cycles are major challenges faced by the market.
Furthermore, new launch of New Technologies and Development of Novel Devices, is contributing to the growing market of Disposable Medical Device Sensors market.
Over the years, hospital-acquired infections (HAIs) have become a major challenge for hospitals and the medical community. In the last two decades, the prevalence of HAIs has increased significantly; the wide use of reusable devices like sphygmomanometer cuffs, thermometers, catheters, and stethoscopes in hospitals is a major factor contributing to this rising prevalence. The use of contaminated medical devices in hospitals also contributes to the rising prevalence of HAIs, especially among newborn babies and other inpatients. This ultimately results in high morbidity and mortality rates, prolonged hospital stays, and increased healthcare and patient costs.
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According to the CDC, up to 1.7 million hospitalized patients in the US annually acquire healthcare-associated infections (HCAIs) while being treated for other health issues, and more than 98,000 of these patients (one in 17) die due to HCAIs. 32% of all HAIs in the country are urinary tract infections, 22% are surgical-site infections, 15% are lung (pneumonia) infections, and 14% are bloodstream infections. For instance, In 2020, Abbott held the leading position in the disposable medical device sensors market. The company offer biosensors which are widely used by people across globe for diagnostic testing and patient monitoring. F. Hoffmann-La Roche Ltd. held the second position in the disposable medical device sensors market in 2020.
The COVID-19 outbreak has led to a change in consumer preferences and priorities as the focus now has shifted toward the use of technology and contact-less healthcare. Consumers are increasingly opting for remote healthcare facilities from the comfort and safety of their homes. In the current pandemic, researchers worldwide have been rushed to develop accurate and efficient novel biosensor-based approaches for the early detection of SARS-CoV-2. According to Snapdeal, the overall sales in the at-home diagnostic kits category between April and July 2020 more than doubled compared to 2019. The greatest number of personal diagnostic and health monitoring devices purchased were pulse oximeters, blood pressure monitors, digital thermometers, and glucometers. The uncertainty of the pandemic has induced fear among people regarding visiting hospitals, which has boosted the sales of home-based diagnostic devices. For Instance: In Jun 09, 2021 (Heraldkeepers) — The emergence of sensor tool and incessant development in the technology play a fundamental function inside the increase of the worldwide market for disposable medical sensors. Disposable medical sensors are to be had in various types, together with invasive sensors, implantable sensors, and ingestible sensors.
For a detailed analysis of the Application Type in Disposable Medical Device Sensor browse through – https://univdatos.com/report/disposable-medical-device-sensor-market
Based on the Product Type, the market is mainly fragmented into strip sensors, Implantable sensors, invasive sensors, and ingestible sensors. The Strip sensor segment dominated the market in 2020 and gathered XX % in 2020. Moreover, the segment is anticipated to maintain its dominance during the analyzed period. Increasing demand for cost-effectiveness and efficiency has led to an increased focus on the usage of Strip Disposable Medical Device Sensor.
Additionally, the report provides detailed initiatives that are being taken in the field of Disposable Medical Device Sensor. The market is classified into distinct regions including North America (the U.S, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, and United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and the Rest of APAC), Rest of World has been conducted. North America dominated the market with US$ XX million in 2020 of prime importance, to the rising prevalence of chronic diseases, and an increasing number of minimally invasive surgeries across the world. The United States Disposable Medical Device Sensor Market is projected to grow with a significant CAGR in the forecast period.
Global Disposable Medical Device Sensor Market Segmentation
Market Insight, by Product Type
- Ingestible sensors
- Implantable sensors
- Strip sensors
- Invasive sensors
Market Insight, by Sensor Type
- Image sensors
- Pressure sensors
- Temperature sensors
Market Insight, by Application
- Patient monitoring
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- F. Hoffmann-La Roche Ltd.
- Koninklijke Philips
- Texas Instrument
- NXP Semiconductors
- General Electric Company
- TE Connectivity
- Honeywell International Inc.
- Analog Devices, Inc.
- Smiths Group Plc
- Sensirion AG
- Amphenol Corporation
- Medical Sensors India Pvt. Ltd.
- Starboard Medical, Inc.
- Life Signals