Medical Sensors Market Size to Reach Revenues of USD 2.31 Billion by 2026 - Arizton

CHICAGO, Oct. 13, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this medical sensors market report.

The medical sensors market is expected to grow at a CAGR of over 1.04% during the period 2020−2026.

Key Highlights Offered in the Report:  

1.  The global medical sensors market by the product segment is witnessing a major growth in force sensors with increased demand for medical devices such as infusion pumps, catheters, dialysis machines, MRI devices, and others.

2.  The physical sensors segment in the global medical sensors market held the highest revenue share in 2020 due to increased adoption of imaging equipment and medical devices incorporated with these sensors.

3.  The global medical sensors market by the patient monitoring segment is expected to witness highest incremental and absolute growth of around USD 54 million and over 10.50%, respectively during the forecast period.

4.  North America is the dominating region in the global medical sensors market, but APAC is likely to witness fastest growth with a CAGR of over 1.9% during the forecast period.

5.  COVID-19 has increased the need for various medical devices such as ventilators, infusion pumps, and other wearable sensors, which contributed for the growth of market during the pandemic.

Key Offerings:

• Market Size & Forecast by Revenue | 2020−2026
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by product type, mechanism, application, and geography
• Competitive Landscape – 7 key vendors and 27 other vendors

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Medical Sensors Market – Segmentation

• In 2020, force sensors accounted for a share of 23.12% in the global medical sensors market. Most of the therapeutic and drug delivery devices require a change in force to function. This change in force is either made automatically by the device or manually by the patient.
• In 2020, physical accounted for a share of 43.84% in the global medical sensors market. Physical sensors are used to measure temperature, pressure, humidity, shear, and torsion. These can be converted into signals for measuring physical quantities by an instrument.
• In 2020, diagnostics and imaging accounted for a share of 35.06% in the global medical sensors market. Medical diagnostics serve to investigate the causes of various diseases or functional disorders. Imaging methods such as ultrasound, computer tomography, and magnetic resonance tomography play an important role.

Medical Sensors Market by Product Type

• Force sensors
• Airflow sensors
• Pressure sensors
• Temperature sensors
• Humidity sensors
• Others

Medical Sensors Market by Mechanism

• Physical
• Biomedical
• Chemical

Medical Sensors Market by Application

• Diagnostics & imaging
• Patient monitoring
• Medical implants & endoscopy
• Others

Medical Sensors Market – Dynamics

For the continuous monitoring of physical behaviors, activities, and biochemical and physiological parameters in daily life, sensors are being integrated into wearable technologies. The most commonly measured health data include body temperature, blood pressure, blood oxygen saturation, heart rate, posture, and various physical activities using ballistocardiogram, electrocardiogram and other devices. Potentially, wearable devices with photos or videos can also give extra clinical information.  There are two major types of wearable devices used for studying gait patterns. For healthcare professionals, certain devices have been developed for monitoring walking patterns, such as multi-angle video recorders, accelerometers, and gyroscopes. Other devices such as mobile phone apps and on-wrist activity trackers have been developed for different types of health consumers. Wearable devices enhance a patient's quality of care and reduce healthcare costs that include patient rehabilitation outside healthcare settings.

Key Drivers and Trends fueling Market Growth:

• Growing Number of Startups Promoting Medical Sensors
• AI-based Medical Sensors for Clinical Decisions
• Increased Miniaturization of Sensors into Medical Devices
• Use of IoT-based Applications in Healthcare Devices

Medical Sensors Market – Geography

North America dominated the medical sensors market with the highest share in 2020. Major factors contributing to the growth of the medical sensors market in North America include the rising elderly population associated with a wide prevalence of chronic illness, which, in turn, is increasing the burden on the healthcare sector. The North American region has some of the most advanced healthcare infrastructure, which has led to developments in healthcare-based IoT. This has spiked the demand for sensors in medical devices, wearables, and implants. The presence of established players has majorly impacted the growth of the medical sensors market in the region.

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Medical Sensors Market by Geography

• North America
• US
• Canada
• Europe
• Germany
• UK
• France
• Italy
• Spain
• APAC
• China
• Japan
• India
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East and Africa
• South Africa
• Saudi Arabia
• Turkey

Major Vendors

• TE Connectivity
• STMicroelectronics
• Sensirion AG
• ON Semiconductor Corporation
• Tekscan
• NXP Semiconductors
• Amphenol Corporation

Other Prominent Vendors

• All Sensors Corporation
• ams AG
• Analog Devices
• Biometrics
• Celera Motion
• Cubic Sensor and Instrument Co.
• GE Healthcare
• Gems Sensors
• Golden Valley Products
• Honeywell International
• Innovative Sensor Technology IST AG
• Introtek International
• Jiangsu Bairun Medical Technology
• Maxim Integrated
• Medtronic
• OmniVision
• Orantech
• Koninklijke Philips N.V.
• PreSens
• Sensing Systems Corporation
• Sensor Solutions
• Servoflo Corporation
• Smiths Medical
• SST Sensing
• Strain Measurement Devices
• Thought Technology
• Viomedex

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