Medical Sensors Market is expected to reach USD 19.07 Billion by 2025, from USD 10.07 Billion in 2017 growing at a CAGR of 8.3% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2017, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Major Market competitors/players: Global Medical Sensors Market
Some of the major players operating in the global medical sensor market are Philips NV, Sensirion AG, Medtronic, Honeywell International Inc, Smiths Group plc, STMicroelectronics, OmniVision Technologies Inc, Memsic Inc, Universal Biosensors, Biosensors International Group, GeekWire LLC, GE Healthcare, Medtronic, First Sensor AG, STMicroelectronics, NXP Semiconductors, Danaher Corp, among others.
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Medical sensors are tools helpful in monitoring, diagnosis of the disease, and important human parameters for therapeutic applications. Pregnancy strips, HIV Test, blood glucose and immunological test strips have a major role in the share of the medical sensors market. In December 2013 Covidien Plc completed the acquisition of Given Imaging Ltd. Given Imaging Ltd is involved in the development, manufacturing and market diagnostic products for the visualization and detection of gastrointestinal tract disorders. It mainly used PillCam capsules for visual examination.
Competitive Analysis: Global Medical Sensors Market
The global medical sensors market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of medical sensors market for global, Europe, North America, Asia Pacific and South America.
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Market Segmentation: Global Medical Sensors Market
The global medical sensors market is segmented on the basis of product type, placement type, application, end users, and geography.
- Based on product type, the global medical sensors market is segmented into pressure sensor, accelerator (inertial) sensors, motion sensor, Image sensor, Electrocardiogram sensor, temperature sensor, blood glucose, blood oxygen sensor. Pressure sensors is further sub segmented into Patients monitor sensors, respiratory devices sensors, future solution sensors
- Based on placement, the global medical sensors market is segmented into strip sensors, wearable sensors, implantable sensors, non-invasive and invasive sensors and ingestible sensors. Wearable sensors are further sub-segmented into wearable sensors used in patient monitoring and sensors for diagnosis of non-infectious disease.
- Based on the application, the global medical sensors market is segmented into diagnostic, therapeutics, monitoring, imaging, fitness and wellness and others. The diagnostic is further sub-segmented into blood glucose test strip sensors, HIV-test strip sensors, pregnancy test strip sensor and drug and alcohol test strip sensors. Therapeutics is further sub-segmented into cardiac therapeutic devices, cardiac catheter sensors, and insulin pump sensors. Monitoring is further sub-segmented into continuous blood pressure monitors, cardiac monitors, smart pills, implantable loop recorder, pulse oximeters, continuous glucose monitoring devices. Imaging devices is further sub-segmented into capsule endoscope sensors. Fitness and wellness is further sub-segmented into electronic pedometer, wearable injectors, and continuous glucose meter. Others type is further sub segmented hearing-aids sensor, treadmill sensor, electronic weighing scale, automated external defibrillator.
- On the basis of end users, the global medical sensors market is segmented into hospitals, ambulatory centers, clinics, community healthcare. Based on distribution channel the market is segmented into retail, and direct tenders.
- Based on geography the global medical sensors market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
Major Market Drivers and Restraints:
- Improvement of wearable and disease diagnosing kits.
- Increase in the use of sensors in the clinics and home applications
- Increase in the awareness among the patients for monitoring and diagnosing of the disease.
- Increased investment in research and development of devices based on sensors.
- Downward pricing pressure owing to its commodity nature
- Increase in patient population of chronic and long term disease.
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