A recent report on Medical Sensors Market provides a detailed analysis of the industry size, revenue forecasts and geographical landscape pertaining to this business space. Additionally, the report highlights primary obstacles and the latest growth trends accepted by key players that form a part of the competitive spectrum of this business.
Medical Sensors Market Size and Value
Medical Sensors Market is valued at USD 1.18 Billion in 2018 and expected to reach USD 1.83 Billion by 2025 with the CAGR of 6.53% over the forecast period.
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Sensors are instruments that detect and record physical, chemical and biological signals, including temperature, pressure, vibration, sound frequency, light intensity, load or weight, flow rate of gases and liquids, strength of magnetic and electronic fields, and concentrations of several substances in gaseous, liquid, or solid form. Medical sensorsare used in the medical domain to diagnose, track or treat illnesses.Many sensors operate outside the body while others are built to be inserted within the body.Many monitoring systems consist of several sensors that calculate a variety of parameters, either physical or biological. Certain devices can be multifunctional and integrate sensorswhich deliver a drug or action, based on the data collected from the sensor. Sensors can also be components in systems processing clinical samples, such as “lab-on-a-chip” devices that are increasingly common.Sensors assist health care providers and patients in monitoring health conditions and ensuring they can make informed treatment decisions. Sensors are commonly used to track the safety of medicines, food, environmental conditions and other substances.There are already many different types of medical sensor devices used in healthcare, including home self-care. For instances Thermometers translate the expansion of a metal strip’s fluid or bending into a number that corresponds to the body temperature. Home-based paper-based pregnancy tests contain a substance that changes color when hormones indicate pregnancy.
The global medical sensors market is segmented on the basis of type, application,placement type,end user and region and country level. Onthe basis of type, the global medical sensors market is classifiedintoflow sensor, optical sensor, temperature sensor, pressure sensor.On the basis of application, the global medical sensors marketis segmented into diagnostics, monitoring, drug delivery, imaging, therapeutics, wellness and fitness. Based on placement type, the medical sensors market is classified into strip sensors, wearable sensors, implantable sensors, non-invasive and invasive sensors and ingestible sensors. Based on end user, medical sensors market hospitals, clinics, rehabilitation centers, home care settings, diagnostic centers and ambulatory surgical centers.
The regions covered in global medical sensors market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, global medical sensors market sub divided in U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Medical Sensors Market Top Companies
Koninklijke Philips N.V.
Posifa Technologies Measurement Specialties, Inc.
First Sensor AG
Honeywell International Inc.
NXP Semiconductors, and Others.
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Medical Sensors Recent News –
Posifa Technologies Introduced Next-Generation Air Flow Sensors
News: On 15June 2020,Posifa Technologies introduced next-generation air flow sensors for respiratory care and other medical applications.Posifa Technologies designs and manufactures high-performance, low-cost sensor and sensing solutions that include gas and liquid flow sensors, air velocity sensors, and vacuum sensors. To use in respiratory treatment and other medical and instrumentation applications, Posifa Technologies announced its latest PMF8300 series of mass air flow sensors. PMF8300 series devices deliver improved accuracy, repeatability, and signal-to – noise efficiency compared to the company’s previous-generation solutions — all at a lower cost.
The sensors introduced with compact, robust packages serve as key components in ventilators, respirators, oxygen concentrators, nebulizers and CPAP devices where patients are monitored for the volume of air flow. Additionally, the systems provide spectroscopy and environmental control equipment with mass flow measurement.Measuring flow rates from 15 SLM (PMF8315) to 100 SLM (PMF8399), the PMF8300 series provides typical extremely fast response times of 5 ms, operating over a temperature range of -40 ° C to +85 ° C. The tools in the same kit have both analog (voltage) and digital I2C outputs, and can be adapted to bidirectional flow sensing.
Global Medical Sensors Market Dynamics
Growing trend for using wearable medical devices to approach health and fitness and diagnosisis the key factor responsible for growth of themedical sensors market.The development of wearable technology and the increasing demand for customers to take charge of their own health have motivated the medical industry to develop wearable devices such as fit parts, smart watches and wearable sensors. According toresearch, in 2019 over 80% of consumers were willing to wear fitness technique. While fitbit products had about 27.63 million active users in 2018 while it increases upto 29.57 million in 2019.
Another factor which drives themedical sensors market is increasing spending in R & D of medical device industry. In 2019, overall global R&D spending in the medical devices industry stood at around USD 48-49 billion. Almost three-fourths of the top 15 medical device Original Equipment Manufacturers (OEMs) contributing to spendingwith the top 5 R&D spenders contribute 38 % to global R&D spending. However, security concerns and problems related to the connectivity of devices, lack of infrastructure in hospitals as well as the high cost of implementation may restrain the medical sensor market. Though, introduction of new devices that offer faster analysis, at lower costs and are user-friendly will create new opportunities for medical sensors marketover the forecast period.
Medical Sensors Regional Analysis –
Due to rising investment in the healthcare sector and flourishing end-use industries in the region, North America dominated the global market for medical sensors. In 2018, according to Tax Policy Center, the federal government invested approximately USD 1.1 trillion in the healthcare sector in the US, out of which Medicare reported approximately USD 583 billion, Medicaid and the Children’s Health Insurance System (CHIP) reported approximately USD 399 billion and medical care for veterans claimed about USD 70 billion.Besides in U.S. use ofwearablemedical device jumped from 9% in 2014 to 33% in 2018.
Europe occupied the second position in the global market for medical sensors owing to increase in government initiatives in mHealth products, increase in investment by private and public players to introduce sensors in mHealth. In 2016, the U.K. Department of Health launched the NHS digitization initiative, allocating more than USD 6.0 billion for it. It has allocated more than USD 2.6 billion to transfer paper records to a centralized electronic recording system, implement wireless technologies and address cyber security concerns in the NHS IT ecosystem.
Key Benefits for Medical Sensors Market Reports –
- Global medical sensors market report covers in depth historical and forecast analysis.
- Global medical sensors market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global medical sensors market report helps to identify opportunities in market place.
- Global medical sensors market report covers extensive analysis of emerging trends and competitive landscape.
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Medical Sensors Market Segmentation –
Medical Sensors Market: By Type
• Flow Sensor
• Optical Sensor
• Temperature Sensor
• Pressure Sensor
Medical Sensors Market: By Application
• Drug Delivery
• Wellness And Fitness
Medical Sensors Market: By Placement Type
• Strip Sensors
• Wearable Sensors
• Implantable Sensors
• Non-Invasive And Invasive Sensors
• Ingestible Sensors
Medical Sensors Market: By End Use
• Rehabilitation Centers
• Home Care Settings
• Diagnostic Centers
• Ambulatory Surgical Centers
Medical Sensors Market: By Regional & Country Analysis (North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa)
Table of Content
1. Chapter – Report Methodology
1.1. Research Process
1.2. Primary Research
1.3. Secondary Research
1.4. Market Size Estimates
1.5. Data Triangulation
1.6. Forecast Model
1.7. USP’s of Report
1.8. Report Description
2. Chapter – Global Medical Sensors Market Overview: Qualitative Analysis
2.1. Market Introduction
2.2. Executive Summary
2.3. Global Medical Sensors Market Classification
2.4. Market Drivers
2.5. Market Restraints
2.6. Market Opportunity
2.7. Medical Sensors Market: Trends
2.8. Porter’s Five Forces Analysis
2.9. Market Attractiveness Analysis
3. Chapter – Global Medical Sensors Market Overview: Quantitative Analysis
4. Chapter – Global Medical Sensors Market Analysis: Segmentation By Type
5. Chapter – Global Medical Sensors Market Analysis: Segmentation By Application
6. Chapter – Global Medical Sensors Market Analysis: By Manufacturer
7. Chapter –Medical Sensors Market: Regional Analysis
8. Chapter – Company Profiles
8.4.Koninklijke Philips N.V.
8.6.Posifa Technologies Measurement Specialties, Inc.
8.8.First Sensor AG
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