Medical Sensors Market Research Report Size, share & Forecast Analysis

The Medical Sensors Market was estimated around USD 1,455 million in 2019 and is expected to grow at CAGR of 10.1% over the forecast period (2020-2027).

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The factors driving growth of the Medical Sensors Market includes increasing prevalence of diabetes and cardiovascular diseases, growing demand for diagnostic and monitoring devices, rising geriatric population, Government expenditure to enhance healthcare infrastructure and improvements in the living standards. As per the WHO, obesity has tripled since 1975, over 1.9 billion people aged 18 and above were overweight, of these 650 million were obese, and 39 million children below the age of 5 were overweight across the globe in 2020, which is creating the demand for medical sensors worldwide. Moreover, increasing adoption of advanced technologies such as Internet of Things (IoT) and Artificial Intelligence (IoT), rising acceptance for fitness devices are further boosting the Medical Sensors Market size. In addition, the increasing investments by major companies on research and development, strategic partnerships between enterprises and growing disposable incomes, are further contributing towards the market growth. 

However, growth of the Medical Sensors Market is hindered due to strict regulations regarding product approval.

The leading players operating in the market are Tekscan, Inc., Sensirion AG Switzerland, NXP Semiconductors, TE Connectivity, Texas Instruments Incorporated, Medtronic, Proteus Digital Health, First Sensor AG, STMicroelectronics, and Amphenol Advanced Sensors, among others.

Based on Sensors Type, the Pressure Sensors segment is predicted to grow at a significant CAGR during the forecast period

Increasing application of pressure sensors in medical devices such as blood pressure monitors and respiratory therapy devices and heart rate monitoring devices, is propelling growth of the segment.

Based on Product Type, the Non-Invasive segment is projected to grow at a robust CAGR over the forecast period

Increasing use of Internet of Things (IoT) in medical devices and rising demand for connected devices across the globe, are some of the factors pushing segment’s growth.

Based on Region, the North American region is projected to grow at a remarkable CAGR during the forecast period

Increasing cases of diabetes and obesity across United States and Canada, growing demand for technologically advanced medical devices, rise in Government’s expenditure on the healthcare sector and high per capita incomes, are driving the market growth in North America.

Key Developments

  • n 2021 – OMRON opened Automation Center in Barcelona, to secure OMRON’s position as a leading vendor in factory automation technology to address various challenges. OMRON changes automation concepts into advanced solutions with the support of the Automation Center.

Market Segmentation

Segmentation by Sensors Type

  • Temperature Sensors
  • Pressure Sensors
  • Blood Oxygen Sensors
  • Blood Glucose Sensors
  • Image Sensors
  • Electrocardiogram (ECG) Sensors
  • Ingestible Sensors
  • Motion Sensors
  • Heart Rate Sensors
  • Touch Sensors

Segmentation by Product Type

  • Invasive
  • Non-Invasive

Segmentation by Application

  • Patient Monitoring
  • Diagnostic Imaging
  • Medical Implants & Endoscopy

Segmentation by End User

  • Nursing Homes, Assisted Living Facilities, Long-Term Care Centers, & Home Care Settings
  • Hospitals & Clinics
  • Others

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

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GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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