Market Overview:
Medical Sensors play an important role in medical technology as they make medical devices even more effective, safer, and smarter. At the same time, they also simplify the operation in the healthcare industry. Market Research Future (MRFR) has published a research report about the global medical sensors market Trends that infers maturation for this market with 7.6% CAGR between 2016 and 2022.
Analyzing the market structure, this report evaluates the future growth potential of the market. It observes the strategies of the key players in the market and follows the competitive developments such as joint ventures, new product developments, mergers and acquisitions, research and developments (R & D) in the market. The global medical sensors market is growing steadily and has a bright future. The significant technological advancement and demand for smart medical devices is the primary reason for the growth of this market.
The global medical sensors market has been segmented on the basis of application, sensor placement, types, and lastly region. The application based segmentation segments this market into diagnostics, fitness, imaging, medical therapeutics, monitoring, and others. Based on sensor placement, the market has been segmented into implantable sensors, ingestible sensors, invasive/non-invasive sensors, strip sensors, and wearable sensors. By types, the market has been segmented into blood glucose sensors, blood oxygen sensors, Electrocardiography (ECG) sensors, image sensors, inertial sensors, motion sensors, pressure sensors, and temperature sensors, and others.
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The regional segmentation of the global medical sensors market segments the market into continent-based regional markets namely The Americas (North America & South America), Europe, Asia Pacific, and the Middle East & Africa (MEA). Globally The Americas is the biggest market for medical sensors. In the Americas, North America is a bigger market than South America due to advanced technology and advanced medical facilities. This factor enables North America to emerge as the largest market on its own. Many key players of this market are based in North America, most of them in the United States of America (USA), which is the biggest economy in this region. All kinds of advanced medical facilities make North America an ideal market and hence, medical devices, including sensors, are always in demand.
During the forecast period, Europe is expected to be the second-largest market as it is technologically advanced but not as advanced as North America. Its high density of population makes it a suitable market. Due to reasons same as The Americas, Western Europe is a bigger market than Eastern Europe. The most important country-specific markets in Western Europe that are France, Germany, Italy, Spain, and the United Kingdom (UK).
During the forecast period, the Asia Pacific market is expected to emerge as the fastest growing market. The primary reasons for this growth are likely to be rising urbanization, growing technological advancement, and the presence of rising economies like China and India. The other country-specific markets in this region are Japan and South Korea, followed by the rest of the Asia Pacific region.
The MEA region is a small market with static growth. The reasons for the low market in this region include lack of awareness, lack of education, lack of technological development, political instability, poor healthcare, and healthcare not considered a priority by most governments.
Key Players:
The key players in the global medical sensors market include First Sensor AG (Germany), GE Healthcare (USA), Given Imaging Inc (Israel), Honeywell International Inc (USA), Measurement Specialties Inc. (USA), Medtronic PLC (USA), NXP Semiconductors N.V. (Netherlands), Philips Healthcare (India), Smiths Medical (USA), and STMicroelectronics (Switzerland).
Latest Industry News
- Maxim Integrated Products, Inc. has launched new a new sensor called Health Sensor Platform 2.0 (HSP 2.0) which is a rapid prototyping and developmental platform, known as MAXREFDES101#. It enables a wrist-worn wearable to monitor body temperature, electrocardiogram (ECG), and heart rate, saving up to six months in development time. 28 SEP 2018
- Digital health startup Bonbouton has partnered with smart-clothing company Liquid X Printed Metals to build temperature and pressure sensors directly on textiles using additive manufacturing techniques, for physiology monitoring. 5 SEP 2018.
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