Regional Insights
On the basis of region, theglobal DisposableMedical Sensors Market is segmented into North America, Latin America,Europe, Asia Pacific, Middle East, and Africa. North America holds a dominantposition in the global disposable medical sensors market and is expected toretain its dominance over the forecast period. This is owing to development oftechnologically advanced integrated medical devices and solutions as well asnew entrants in the region involved in product innovations. For instance, TrueWearables, Inc., a medical device start-up based in California, introducedOxxiom, world’s first wireless, continuous and fully disposable single pulseoximeter in January 2016 that measures arterial oxygen saturation, perfusionindex and pulse rates. Moreover, rising prevalence of patients suffering with chronicdiseases such as Type-1 diabetes that demand continuous monitoring of bloodglucose levels are expected to propel growth of the region in the globalmarket. According to the American Diabetes Association 2015, around 1.25million children and adults in the U.S. suffered from diabetes.
Furthermore, Asia Pacific isexpected to witness a significant growth in the market, owing to developmentsin healthcare infrastructure, increasing patient awareness, and increasingincidence of chronic diseases. For instance, National Health Survey conductedby Australian Government Department of Health, in 2015, suggested that nearly23% of Australians aged above 60 years suffer from one or more chronicdiseases.
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Disposable medical sensors arereferred to as portable, compact, and handheld components that are used invarious medical devices for diagnostics, patient monitoring, and therapeutics.The integration of disposable sensors into various medical devicessignificantly benefits in remote patient monitoring and on-site patientobservation in healthcare settings such as hospitals, clinics, and ambulatorysurgical centers. Disposable medical sensors play a vital role in maintainingsterility of the medical devices thereby resulting in reduction of hygienerisks and offering safe solutions to the patients. Advancements in healthcareIT has led to sensor-based devices that enhance performance of the medicaldevices. In terms of remote patient monitoring, the disposable medical devicesensors play a crucial role in measurement of vital components that includebreathing rate, heart rate, pulse rate, temperature, blood oxygenation level,and others. These sensors are used in medical devices or various medicalspecialties such as radiology, cardiology, neurology, ophthalmology, urology,and others. Moreover, these sensors are also used in diagnostic devices anddisposable test strips that perform identification of certain microbial strainssuch as bacteria, fungi, and virus used in the detection and confirmation ofinfectious diseases.
Market Dynamic
Rising incidence of chronicdiseases leading to increasing need for faster and efficient diagnostics,therapeutics, and patient monitoring is expected to drive demand for disposablemedical sensors. Chronic conditions such as cardiovascular diseases, diabetes,cancer, strokes, chronic obstructive pulmonary diseases, and obesity are amongthe most commonly encountered chronic diseases in the world. According to theWorld Health Organization (WHO) 2017, the global prevalence of cancer has risenfrom 4.7% of the total world population in 1980 to 8.5% in 2014, whichaccounted for nearly 422 million patients suffering from the disease in 2014.Moreover, WHO also states that the Global Burden Disease Study reports aprevalence of 251 million patients suffering with chronic obstructive pulmonarydiseases (COPD) in 2016. Patient monitoring and diagnostic devices used fortreatment of these patients incorporating disposable medical sensors is thus,expected to augment the market growth.
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Moreover, advancements in micro-technologiessuch as microfluidic chips, medical MEMS, and lab-on-a-chip technologies areexpected to support the market growth during the forecast period. For instance,according to a research article published in MEMS Journal 2018, disposable andnon-disposable medical sensors are advantageous in miniaturizing components andsystems of MEMS and also helps in reduction of cost of the systems. However,unfavorable reimbursement policies for medical devices integrated withdisposable sensors are expected to hinder the market growth.
Competitive Insights
Key players operating in theglobal disposable medical sensors market include Medtronic Plc, KoninklijkePhilips N.V., GE Healthcare, FreeScale Semiconductors, Omnivision Technologies,Inc., Smiths Medical, Analog Devices, Inc., Honeywell International, Inc., andothers. Market players are focused towards providing technologically advancedproducts to sustain their presence in the market. For instance, in October2014, Sensirion AG introduced a disposable liquid flow sensor solution formedical devices that provides compact and cost-effective solution for safer andreliable automatic drug delivery at hospitals and home based settings.
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