Medical Sensors Market Size Analysis 2019:Product Type (Diagnostics, Monitoring)

Posted by sarahbennu on July 31st, 2019

Global medical sensors market size will grow by almost USD 6.22 billion during 2019-2023, at a CAGR of 9%. The demand for digital medicine and sensor-enabled pills has been growing substantially. Sensor-enabled pills transmit information from the patient’s body to a mobile application. Patients can also share such information with their caregivers and physicians through a web-based patient monitoring applications. Such pills are gaining popularity as they can track the effects of medicines in real time and reduce the cost of treatments. This growing trend will increase the adoption of medical sensors and will positively impact the growth of the global medical sensors market over the forecast period.

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Rising demand for medical sensors in home care settings

Patients are increasingly adopting home healthcare services due to the increasing treatment costs in hospitals and clinics. Portable medical devices such as blood pressure monitors and blood glucose monitors are increasingly being adopted in home care settings due to the increased need for remote patient monitoring. This eliminates the patient’s frequent hospital visits and reduces the burden of traveling and waiting time, especially for geriatric patients. The increasing demand for medical sensors in home care settings is expected to drive the global medical sensors market.

North America will be the largest contributor to the global medical sensors market. The presence of many medical sensor vendors in the US will drive the growth of the market in the region. In terms of growth rate, the Asian region will witness the fastest growth during the forecast period. The increasing prevalence of chronic disorders and the increased focus toward healthcare will increase the demand for medical sensors. Emerging economies such as Southeast Asia and India will further drive the demand for medical sensors,” says an analyst at Technavio.

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This global medical sensors industry research report provides an in-depth analysis of the major drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several medical sensor manufacturers including -

  • First Sensor AG
  • Medtronic
  • NXP Semiconductors
  • Smiths Group plc.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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