Healthcare

Global Medical Sensors Market

April 2, 2020
ID: SR/HC-21
Format:Pdf
Pages:220

Global Medical Sensors Market by Sensors Type (Pressure Sensors, Temperature Sensors, Blood Oxygen Sensors, Blood Glucose Sensors, Ingestible Sensors, Electrocardiogram (ECG) Sensors, Image Sensors, Motion Sensors, Touch Sensors, and Heart Rate Sensors), By Product Type(Non-Invasive, Monitoring Devices, and Invasive), By Application (Patient Monitoring, Diagnostic Imaging, Medical Implants & Endoscopy), By End-User (Hospitals & Clinics, Nursing Homes, Home healthcare and Others), and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

Description

Global Medical Sensors Market Overview

Medical Sensors are used to diagnose, monitor, or treat diseases in the medical domain. The medical sensor node and the monitoring base station form a personal/family or ward wireless sensor network. Multiple such networks can create a community or entire hospital monitoring network, or even a larger range of remote medical monitoring systems. The monitoring center analyzes and processes the information and provides timely information feedback to the patient. The monitoring center can also use a variety of methods (Internet, mobile communication network, etc.) for remote data transmission and share information with other monitoring centers. The development and establishment of intelligent wards and community monitoring systems is the trend of medical development at home and abroad today.

Global Medical Sensors Market Insights

Global Medical Sensors Market expected to grow at a substantial rate during the forecast period, 2020-2027. The rise in home-based medical care and technological advancements in the medical devices industry will fuel the global medical sensors market in the upcoming periods. Moreover, the growing geriatric population and the increasing expenditure on healthcare across the world projected to boost the global medical sensors market in the estimated periods. Additionally, the growing demand for medical sensors for reducing human errors, in various forms, such as checking/monitoring alcohol level in the blood, biomechanics, blood analysis, breath analysis, and eye parameters are estimated to trigger the global medical sensors industry in the forecast periods.

Furthermore, the upsurge in the adoption of smartphones and other electronic devices with sensor technology and an increase in the adoption of IoT and advanced technologies in the medical industry will boom the global medical sensors market size in the expected period. The introduction of new devices that offer faster analytics at a lower cost will accelerate the growth of the medical sensors market. The escalating aging population across the world and the rise in the application of medical sensors to observe patients will lead to the robust growth of the global medical sensors market.

Growth Driver

The growing demand for Home-Based Medical Care and Ongoing Technological Advancements in Medical Devices

The rise in the number of patients with chronic diseases such as hypertension and diabetes is driving the use of monitoring and treatment equipment, which are monitored by medical sensors for many physiological indicators. Advances in technology have led to increased use of medical sensors. The high accuracy, portability, and affordability of next-generation medical sensors have contributed to the growing demand for sensors.

The new medical sensors have the advantages of being more sensitive, miniaturized, convenient, low cost, non-invasive or minimally invasive, and interconnected. It has made an significant contribution to the progress of human medicine.

Sensor Type Segmental Analysis

Based on sensor type, the global Medical Sensors market classified into Pressure Sensors, Temperature Sensors, Blood Oxygen Sensors, Blood Glucose Sensors, Ingestible Sensors, Electrocardiogram (ECG) Sensors, Image Sensors, Motion Sensors, Touch Sensors, and Heart Rate Sensors. The Pressure Sensors segment predicted to gain a major share in the market by 2027, owing to the surge in demand of pressure sensors for heart rate monitors, inhalers and ventilators, blood pressure monitors, patient monitoring systems, laparoscopic devices, and respiratory therapy devices.

The Blood Glucose Sensors segment will boom by its application to monitoring patients’ blood glucose fluctuations, and continuous blood glucose monitoring.

Product Type Segmental Analysis

Based on product type, the global Medical Sensor market classified into Non-Invasive, Monitoring Devices, and Invasive. The Non-Invasive segment projected to grow with a higher CAGR during the forecast period, on account of the growing demand for portable monitoring devices and increasing adoption of IoT-based medical devices across the globe. It includes Imaging Devices like MRI Scanners, X-Ray Scanners, and Nuclear Imaging Systems, etc.

The Monitoring Devices segment includes Cardiac Monitors, Hemodynamic Monitors, Respiratory Monitors, and Digital Thermometers.

Technology Segmental Analysis

Based on technology, the global Medical Sensors market bifurcated into Cooled and Uncooled. The cooled segment projected to dominate due to increasing demand in airports, pipelines, nuclear power plants, high-security buildings, and other sensitive areas for its sensitivity and low-contrast long-range imaging applications.

The uncooled segment will influence by its application in industrial and commercial applications because of its low price as compare to the cooled thermal imaging system.

Application Segmental Analysis

Based on application, the global Medical Sensor market classified into Patient Monitoring, Diagnostic Imaging, and Medical Implants & Endoscopy. The Patient Monitoring segment estimated to generate maximum revenue by 2027, attributable to the technological advancements in the medical sensors such as remote monitoring systems, mobile cardiac telemetry devices, mobile personal digital assistant (PDA) systems, ambulatory wireless EEG recorders, and ambulatory event monitors. Additionally, the integration of monitoring technologies in smartphones and wireless devices would surge market growth.

The Medical Implants & Endoscopy segment will grow due to the expanding instances of neurological disorders in the increasing aging population.

End-User Segmental Analysis

Based on end-user, the global Medical Sensor market categorized into Hospitals & Clinics, Nursing Homes, Home healthcare, and others. Hospitals & clinics segment gained a major share in 2019. It is primarily attributed to high patient volumes and the availability of adequate staff.

The Home healthcare segment will drive by the introduction of user-friendly diagnostic kits, along with easy-to-operate and deliver fast.

Region Segmental Analysis

Based on geography, the global Medical Sensors market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America estimated to occupy the lion’s market share by 2027, owing to higher expenditure on healthcare by the US and Canada coupled with the presence of a large number of medical device manufacturers.

The Asia Pacific will boost as a result of the growing number of chronic disorders population, such as diabetes, hypertension, and respiratory problems in these regions.

Competitor Analysis

Companies such as Texas Instrument, TE Connectivity, First Sensor, Medtronics Plc, NXP Semiconductors, Tekscan Inc, Amphenol Advanced Sensors, Proteus Digital Health, Sensirion, Cirtec Medical, Sensirion, Innovative Sensor Technology, Keller America, OmniVision Technologies, Masimo, TDK Sensors, Stanley Healthcare, EnviteC and Merit Medical Systems are the key players in the Global Medical Sensors Market.

Key Stakeholders

Market research and consulting firms
Industry associations
Global Medical Sensors manufacturing firm
Research organizations and consulting companies
Organizations, associations, and alliances related to Medical Sensors
Regulatory bodies
Suppliers
Retailers

Scope of the report

Report Attribute	Details
Market size value in 2020	USD 1.65 Billion
Revenue forecast in 2027	USD 3.25 Billion
Growth Rate	CAGR of 10.35% from 2020 to 2027
Historical data	2017-2019
Forecast period	2021 – 2027
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	Texas Instrument, Tekscan Inc, Amphenol Advanced Sensors, Proteus Digital Health, Sensirion, TE Connectivity, First Sensor, Medtronics Plc, NXP Semiconductors, Cirtec Medical, Sensirion, Innovative Sensor Technology, Keller America, OmniVision Technologies, Masimo, TDK Sensors, Stanley Healthcare, EnviteC and Merit Medical Systems.

Recent Developments

In September 2021, SensFit developed shoe sensors for early medical diagnostics and detection of early signs of dementia and potential trip hazards.
In September 2021, Medtronic announced the clearance from the FDA for Minimed™ 770G insulin pump that has Smartphone connectivity loaded with a Guardian™ Sensor 3 that helps measure the blood glucose level.
In August 2021, The Indiana University Ludy School of Informatics, Computing and Engineering and Cook Medical signed a master research agreement to use smart fiber for continuous real-time monitoring of patient’s well-being in medical procedures involving Cook devices.

The objective of the Research

Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.

Market Modelling

By Sensors Type

By Product Type

Non-Invasive
Monitoring Devices
Invasive

By Application

Patient Monitoring
Diagnostic Imaging
Medical Implants & Endoscopy

By End-User

Hospitals & Clinics
Nursing Homes
Home healthcare
Others

By Region

North America
Europe
Asia Pacific
South America
Middle East & Africa

Table Of Contents

Methodology

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Frequently Asked Questions (FAQ):

What are the different types of medical sensors?

Sensors used in the medical sector are flow sensors, acoustic and gas sensors, temperature and pressure detectors, cameras, image sensors and magnetic field sensors.

What is the current value of the global medical sensors market?

The current value of the global medical sensors market is USD 1.65 Billion and will reach USD 3.25 Billion by 2027.

Who are the winners in the medical sensors market?

Texas Instrument, Tekscan Inc, Amphenol Advanced Sensors, Proteus Digital Health, Sensirion, TE Connectivity, First Sensor, Medtronics Plc, NXP Semiconductors, Cirtec Medical, Sensirion, Innovative Sensor Technology, Keller America, OmniVision Technologies, Masimo, TDK Sensors, Stanley Healthcare, EnviteC and Merit Medical Systems are the winners in the Global Medical Sensors Market.

What is the current growth rate of the medical sensors market?

The current growth rate of the medical sensors market is 10.35%.

Which region is leading the medical sensors market?

North America will lead the market by 2027 due to higher expenditure on healthcare by the US and Canada and an increasing number of medical device manufacturers.

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