Advancements in sensor technologies and an advent of disposables and microelectronic in healthcare sector has led to the sizeable market growth. Hence, key players are nursing their next generation disposable medical sensor products, thereby expanding & evolving, generating a momentum to drive the growth of this market
The advent of disposable sensors and biosensors has played a vital role in the evolution of sensors in healthcare. Hence, the Disposable Medical Sensors are a preferred option among patients and healthcare professionals for easy detection of diseases. In this regard, many key players develop and commercialize novel sensors. For instance, in September 2016, Abbott received approval for its FreeStyle Libre Pro system, a continuous glucose monitoring (CGM) system.
The global disposable medical sensor market was valued at $4,823 million in 2016, and is projected to reach $9,700 million by 2023, growing at a CAGR of 10.2% from 2017 to 2023. The biosensor segment accounted for nearly three sevenths share of the total market in 2016.
The global disposable medical sensors market is segmented based on product type, placement type, application, and end user. Based on product type the market is segmented into biosensor, temperature sensor, pressure sensor, humidity sensor, force sensor, image sensor, and others. By placement type, the market is divided into wearable sensors, invasive sensors, implantable sensors, ingestible sensors, and strip sensors. Based on application, the market is categorized into patient monitoring, diagnostics, and therapeutics.
Patient monitoring is further segmented into continuous blood pressure monitoring, implantable loop recorder, cardiac monitoring electrode, pulse oximeters, smart pills, continuous blood glucose monitoring (CGM), and others. Diagnostics application is further classified to capsule endoscopes, HIV test strip sensors, pregnancy test strip sensors, drug and alcohol test strip sensors, and blood glucose test strip sensors. The therapeutics application is segmented into insulin pump sensors, cardiac therapeutic electrode sensors, and cardiac catheter sensors. Based on end user, the market is divided into hospitals, clinics, diagnostic laboratories, and home care. Among product type, biosensor segment occupied dominant share of three sevenths of the total market in 2016, and is expected maintain this trend during the forecast period, owing to its high adoption globally. In the placement type segment, the ingestible sensor is expected to grow with highest CAGR of 11.0% during the forecast period.
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Key Findings of the Disposable Medical Sensor Market:
- The image sensor is anticipated to grow at a highest rate during the analysis period.
- The U.S. was the major shareholder in the North America disposable medical sensor market, and accounted for the highest share in 2016.
- The pressure sensor occupied about one-eighth share of the total disposable medical sensor market in 2016 and is expected to grow at a CAGR of 10.9% from 2017-2023.
- China occupied two-ninth share of the total Asia-Pacific disposable medical sensor market in 2016, registering a high CAGR of 13.1% from 2017 to 2023.
- The strip sensor segment dominated the market in 2016, growing at a CAGR of 9.6% from 2017 to 2023.
- The home care segment accounted for the two-fifth share in end user market for disposable medical sensors in 2016.