Surging Demand for Medical Devices is Expected to Provide Significant Opportunities to Medical Sensors Market Players
- Himanshu Patni
- May 12, 2022
- HEALTHCARE, NEWS
- Medical Sensors Market, Medical Sensors Market growth, Medical Sensors Market share, Medical Sensors Market size, Medical Sensors Market trends
- 0 Comments
A sensor is a device that detects and responds to some type of input from the physical environment. The specific input could be light, heat, motion, moisture, pressure, or any one of a great number of other environmental phenomena. Furthermore, the sensors used to diagnose, monitor, or treat diseases in the medical domain are known as medical sensors. The medical sensor proves their dominant use in almost every treatment, they are extensively used for diagnostic, therapeutic, and treatment purposes. Moreover, with the development of lightweight sensors, they are commonly used in the wearable items such as digital watches and integrated with some t-shirts. Apart from this, these lightweight sensors have a significant effect in medical science because their accurate prediction at right time saves many lives. The modernization of society and medical healthcare system coupled with continuous technological advances and connection with the internet significantly rises the market of medical sensors in the last few years which is further expected to grow in the projected future. Thus, the global medical sensors market to grow at an exponential CAGR of ~10% during the forecast period.
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The COVID-19 had a great impact on the market for the medical sensors, with the industry witnessing demand shock across all regions amid the pandemic. The global demand for medical devices and supplies drastically increased during the pandemic, the existing shortage of medical equipment coupled with surging COVID-19 cases increased the demand for the devices. However, worldwide imposed lockdowns and restrictions on international supplies halted the supply chain of the raw material, and transportation of the devices also had a significant effect on the market growth.
Based on sensor type, the market is segmented into a blood glucose sensor, temperature sensor, pressure sensor, blood oxygen sensor, motion sensor, and others. In 2020, the pressure sensor had a significant share in the market. Pressure sensor monitors patient breathing, detects when the patient inhales and exhales, allowing air/oxygen to be delivered more efficiently and effectively. Furthermore, growing elderly population coupled with government focus on increasing life expectancy is further expected to create demand for advance medical devices, thus driving the market for medical sensors.
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On the basis of product type, the market is categorized into diagnostic imaging devices, patient monitoring devices, and others. Among these, patient monitoring devices to witness significant during the forecast period. This is mainly due to the launch of portable and connected patient monitoring devices. In addition, the integration of monitoring technologies in smartphones and wireless devices coupled with the introduction of remote monitoring systems, mobile cardiac telemetry devices, and ambulatory event monitors are the key factors supporting the growth of the market.
Some of the major players operating in the market include Analog devices Inc., Danaher Corporation, Medtronic International, TE Connectivity Ltd., Texas Instruments Inc, STMicroelectronics’, Tekscan, Inc., NXP Semiconductors, Sensirion AG, and ON Semiconductor Corporation.
Medical Sensor Market Segmentation
Market Insight, by Sensor Type
- Blood Glucose Sensor
- Temperature Sensor
- Pressure Sensor
- Blood Oxygen Sensor
- Motion Sensor
- Others
Market Insight, by Product Type
- Diagnostic Imaging Devices
- Patient Monitoring Devices
- Others
Market Insight, by Region
- North America Medical Sensor Market
- United States
- Canada
- Rest of North America
- Europe Medical Sensor Market
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific Medical Sensor Market
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Rest of World Medical Sensor Market
Top Company Profiles
- Analog devices Inc.
- Danaher Corporation
- Medtronic International
- TE Connectivity Ltd.
- Texas Instruments Inc.
- STMicroelectronics’
- Tekscan Inc.
- NXP Semiconductors
- Sensirion AG
- ON Semiconductor Corporation
