Medical Sensors Market is valued at USD 1907.6 Million in 2021 and is expected to reach USD 3789.0 Million by 2028 with a CAGR of 10.3% over the forecast period.
Global Medical Sensors Market Size, Trends, Competitive, Historical & Forecast Analysis to 2022-2028, Increasing adoption of sensors in portable & connected mobile devices, rising Covid-19 cases, and growing geriatric population are anticipated to drive the growth of Global Medical Sensors Market.
Medical sensors are sensors that are used to diagnose, monitor, or cure disorders in the medical field. Healthcare providers demand real-time, dependable, and accurate diagnostic data from gadgets that can track the patient wherever he or she is. Sensors may improve the intelligence of medical equipment such as life-sustaining implants, and allow for bedside and distant monitoring of vital signs and other health indicators. The development of new and diverse forms of medical equipment, including numerous sensors utilized within both equipment and patients' bodies, is being accelerated by an aging and rising population. Whether the patient is in a hospital, clinic, or at home, healthcare companies demand real-time, trustworthy, and accurate diagnostic data supplied via equipment that can be monitored remotely. Sensor manufacturers serving the medical applications market are responsible for satisfying the medical device industry's strict criteria. Radiography, fluoroscopy, cardiology, mammography, dental imaging, endoscopy, external observation, minimally invasive surgery, laboratory equipment, ocular surgery and observation, and artificial retinas are just a few of the image sensor uses. Medical sensors are used in the measurement of blood glucose and cholesterol, as well as drug addiction, infectious disorders, and pregnancy.
Covid-19 has shown a favorable influence on the global medical sensors market. These medical sensors are used to monitor the body's vital signs, and the virus's presence has enhanced the sensors' sales. Covid-19 had impacted those with cardiovascular and respiratory difficulties; rising cardiovascular disease and corona cases have fueled demand for these sensors. Governments are also expanding financing for this technology, as it has the potential to help discover people with high-risk characteristics. As a result of this increased demand, there has been lot of collaboration between commercial enterprises, government agencies, and university research institutions.
Global medical sensors market report is segmented on the basis of technology, type, application and region & country level. Based upon technology, global medical sensors market is classified into wearable sensors, implantable sensors, strip sensors, invasive/non-invasive sensors and embeddable sensors. Based upon type, the market is divided into blood glucose sensors, ECG sensors, accelerometers, motion sensors, pressure sensors, temperature sensors, blood oxygen sensors, image sensors, and inertial sensors and SQUID sensors. Based upon application, global medical sensors market is divided into monitoring applications, diagnostic, therapeutic, surgical, monitoring, imaging and others.
The regions covered in global medical sensors market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global medical sensors is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 1907.6 Million|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 3789.0 Million|
|Tables, Charts & Figures:||175|
|Medical Sensors Companies||Analog Devices, Celera Motion, Cubic Sensor and Instrument Co., Gems Sensors, Golden Valley Products, Innovative Sensor Technology IST AG, Jiangsu, Bairun Medical Technology, Introtek International, OmniVision, Orantech, Biometrics, GE Healthcare & Others.|
|Segments Covered||By Technology, By Type, By Application|
|Regional 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 the Middle East and Africa|
Some of the key players for global medical sensors market are:
On January 26th, 2022; Phillips-Medisize collaborated with Dallas-based medical services start-up SOTECH Health to speed up the improvement of a breath-sensor system that recognizes COVID-19 in less than 30 seconds. To evaluate for Covid-19, an individual blows into the handheld gadget's dispensable mouthpiece for six seconds. A sensitive, electrochemical sensor searches for traces of specific chemicals in the sample, which show exposure to SARS-CoV-2, the infection strain that causes COVID-19. Results are accessible in less than 30 seconds. Tests can be self-managed and checked on site or from a distance through WiFi/Bluetooth availability, mitigating the requirement for medical services professionals to conduct the tests.
On March 2nd, 2021; Philips received CE Mark certification for its new wearable device; the Healthdot sensor. Certification of the sensor has been prioritized due to the Covid-19 pandemic. Development of the wearable device has been accelerated to support Covid-19 care and alleviate pressure on hospital (bed) capacity. The Healthdot sensor measures respiratory rate, heart rate, activity and posture of a patient. This vital data is measured by the sensor every five minutes for 14 days. The data can be sent to one or more data platforms without the intervention of a receiver (monitoring relay).
VivaLNK Launched Medical Wearable Sensor Platform
On February 11th, 2019; VivaLNK launched a medical wearable sensor platform that includes a host of sensors, edge computing technologies, and an Internet of Health Things data cloud. The sensor platform is available through the VivaLNK Developer Program. Companies taking advantage of it include Vitalic Medical, which is developing a bedside monitor for early detection of patient health deterioration and potential falls.
The major factors driving the growth of global medical sensors market is the increasing adoption of sensors in portable & connected mobile devices. Portable clinical devices are painless electronic components that are significantly utilized for patient monitoring applications. The developments in wireless innovation for medical services have expanded the portability of patients at clinical offices and homes. The manufacturers of clinical gadgets are widely focusing on the advancement of versatile devices equipped with sensors. The demand for minimal expense progressed sensors with a little structure factor, further developed functionalities, low power utilization, and high reliability is expanding because of their expanded use in these devices. For instance; in March 2019, STMicroelectronics developed water-safe MEMS pressure sensors that can be utilized for wearable gadgets. These sensors can be utilized for monitoring applications and in wellness trackers and additional industrial sensing applications.
In addition, rising Covid-19 cases are also supplementing the market growth. Covid-19 has expanded the requirement for different medical devices like ventilators, infusion pumps, and other wearable sensors, which contributed for the development of market during the pandemic. For example; according to the Worldometer; as of February 9th, 2022; there are 74, 484,238 active cases of Covid-19 globally.
Furthermore, growing geriatric population also drives the global medical sensors market. Wearable sensor technologies and IoT can develop lifestyle like giving medical care monitoring systems which are liable for managing and tracking fitness and health. Hence demand of medical sensor is increasing due to the rising demand in smart wearables which is also augumenting the medical sensor market. For instance; as per the World Health Organization (WHO); in 2019, the number of individuals matured 60 years and older was one billion. This number will increment to 1.4 billion by 2030 and 2.1 billion by 2050.
However, complication in designing compatible medical sensors may hamper the global medical sensor market growth. In spite of that, increasing advancements in sensors & digital technologies can provide various opportunities for the further growth of the global medical sensor market.
North America is expected to dominate the global medical sensors market within the forecast period due to the growing geriatric population, increasing technological advancements and presence of key players in this region. Increasing number of old age people raise the demand of smart wearables devices. Hence, in smart wearables, the demand of sensors has rapidly increased. For example; according to the U.S. Census Bureau, in 2019, there were 54.1M has age of 65 and older. Also, growing technological developments also drive the market in this region. For example; in March 2021, TTI, Inc., one of the main specialized electronic part distributors, is satisfied to give Honeywell Advanced Sensing Technologies' electromechanical and sensor solutions for clinical applications like ventilators, oxygen concentrators, patient monitoring systems, and monitoring systems.
Asia Pacific is anticipated to grow at a faster pace in the global medical sensors market due to the growing healthcare infrastructure and rising Covid-19 patients in this region. For instance; the Chinese government's healthcare strategy, known as the ""Healthy China 2030 Plan,"" intends to provide basic health services to all citizens by 2030. In addition, increasing Covid-19 patients raises the adoption of medical sensors. For example; according to the World Health Organization (WHO); there are about 40,085,116 confirmed cases of COVID-19 and 491,127 deaths, globally.
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