USD 8.07 billion
Medical Sensors Market Size, Share, Growth Analysis, By Type(Blood Glucose Sensors, ECG Sensors, Accelerometers, Motion Sensors), By Technology(Wearable Sensors, Implantable Sensors, Strip Sensors, Invasive/Non-Invasive Sensors), By Region - Industry Forecast 2024-2031
Report ID:
SQSG35A2035 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
73
|Figures:
75
Medical Sensors Market Insights
Medical Sensors Market size was valued at USD 8.07 billion in 2019 and is poised to grow from USD 7.54 billion in 2023 to USD 15.21 billion by 2031, growing at a CAGR of 7.2% in the forecast period (2024-2031).
Sensors are tools that identify physical, chemical, and biological signals and offer a mechanism to quantify and record such signals. Sensors allow for the tracking and monitoring of medical issues.
The uses of these techniques especially in the medical sector have grown as a result of developments in low-power electronics, MEMS technology, power harvesting, and advanced materials. Sensors have had a significant impact on this sector, from regular medical equipment to intelligent distributed healthcare systems, and accurate and advanced detection of health care concerns. Additionally, improved patient care is now possible thanks to the development of unobtrusive sensor solutions.
Over the projected timeframe, rising chronic disease prevalence is expected to fuel market expansion for medical sensors. Additionally, it is expected that a growing elderly population would accelerate the adoption of medical sensors.
US Medical Sensors Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
strip sensors
Fastest Growth
strip sensors
Growth Rate
7.2% CAGR
Global Medical Sensors Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
To get more reports on the above market click here to Buy The Report
Medical Sensors Market Segmental Analysis
The global medical sensors market segmentation is based on type, technology, and region. Based on type the market is segmented into blood glucose sensors, ECG sensors, accelerometers, motion sensors, pressure sensors, temperature sensors, blood oxygen sensors, image sensors, inertial sensors, squid sensors, and others. Based on technology the market is segmented into wearable sensors, implantable sensors, strip sensors, invasive & non-invasive sensors, and embeddable sensors. Based on region the global medical sensors market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Medical Sensors Market Analysis by Type
In 2021, the pressure sensors accounted for the largest market share and during the projection period, it is expected that they would account for a sizeable portion of market revenue. The expanding need for pressure sensors in patient monitoring devices, respiratory equipment, drug administration systems, and the increased acceptance of homecare are primarily responsible for the segment's rise.
Future predictions indicate that the market for temperature sensors will expand at a promising rate. This sub-expansion segment has been fueled by the rise in disease prevalence brought on by population growth.
Medical Sensors Market Analysis by Technology
During the projection period, the invasive & non-invasive category is expected to expand. The increasing need for linked medical equipment, the growing adoption of the Internet of Things-based medical devices, and advancements in medical science are the key drivers of the expansion of medical sensors for non-invasive goods.
Global Medical Sensors Market By technology type, 2021 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Medical Sensors Market Regional Insights
North America dominated the largest portion of the global medical sensors market. This is explained by the region’s accessibility to cutting-edge clinical infrastructures and medical equipment usage. The existence of important players and growing investments by foreign and domestic investors in this area are expected to fuel market growth. The region is also forecasted to expand with a remarkable growth rate to maintain its lead over the projected timeline.
The Asia Pacific market for medical sensors is expected to grow quickly over the forthcoming years. Due to an increase in the frequency of chronic diseases and a growth in raising the attention of medical sensors, the region is expected to gain market share.
Global Medical Sensors Market By Geography, 2021-2028
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Medical Sensors Market Dynamics
Medical Sensors Market Driver
- The growth of medical sensors market will be driven by the rapid use of internet - of - things based medical devices. With the support of remote health monitoring, IoT-based health-related services have the enormous potential to dramatically increase health outcomes and save countless lives. This medical equipment could provide dependable connectivity, conform to privacy and security regulations, and provide remote software or security upgrades that give optimal results to satisfy the requirements of patients, medical staff, and hospitals.
- By keeping track of anything from pulse rate statistics to menstrual cycle data, wearable devices can assist doctors in creating customized healthcare regimens. These gadgets are simply connectable to mobile devices such as smartphones, which constantly display all the information in real-time. The need for different wearables to continually monitor and control all the vitals is expected to rise in the coming years, which is expected to boost the medical sensors market.
Medical Sensors Market Restraint
- The market growth is also expected to be constrained by poor reimbursement for innovative technologies. Companies are constrained by badly written payment rules from insurance companies like Medicare and Medicaid, despite gaining FDA and CE clearances.
- Extensive capital expenditures and high spending capabilities are needed to cover the sunk expenses in the event that the MEMS device fails its clinical studies and is not approved before being sold on the market. Additionally, it takes a long time and costs the producer a lot of money to introduce new products to the market.
Request Free Customization of this report to help us to meet your business objectives.
Medical Sensors Market Competitive Landscape
Medical device firms are working hard to create portable sensors-equipped devices. Competitors in the market mostly use product launches, partnerships, mergers, and acquisitions as their primary tactics. For instance, in February 2021, a new line of analog and digital pressure sensors was introduced by All Sensors Corporation. The series includes millibar calibrations from 2.5 mbar to 10 bar and tension ranges from 0.5 inH2O up to 150 PSI.
Top Players in the Global Medical Sensors Market
- Medtronic
- Honeywell International
- Abbott Laboratories
- GE Healthcare
- NXP Semiconductors
- Smiths Medical
- Analog Devices
- STMicroelectronics
- Texas Instruments
- Sensirion
- First Sensor
- TE Connectivity
- Danaher Corporation
- Stryker Corporation
- Masimo Corporation
- Koninklijke Philips N.V.
- Siemens Healthcare GmbH
- Omron Corporation
- Becton, Dickinson and Company
- ICU Medical, Inc.
Medical Sensors Market Recent Development
- In April 2022, the next-generation Revolution Aspire CT (Computer Technology) scanner was introduced by Wipro GE Healthcare. It is a cutting-edge imaging technology made to boost clinical certainty while making diagnoses of diseases and anomalies.
- In September 2021, three businesses, Toolbox Medical Innovations, Wi Inc., and micro liquid, were purchased by TE Connectivity Ltd. In order to serve its international clientele, the combined businesses will make use of US and European design and manufacturing skills.
Medical Sensors Key Market Trends
- For medical devices to continue operating more effectively and safely, pressure sensors are essential parts. By offering precise and trustworthy diagnoses in a wide range of situations, pressure sensors can monitor a patient’s health condition. Furthermore, a lot of people utilize inhalers as a treatment for asthma episodes. Patients who use inhalers improperly do not benefit from their full therapeutic potential. Major health device manufacturers are using pressure sensors in inhalers to address this issue, and people are beginning to obtain adequate asthma therapy.
Medical Sensors Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, it is predicted that over the forecast period, the pressure sensors segment will contribute significantly to market revenue. The invasive & non-invasive category is expected to grow during the forecast period. North America accounts for the majority of the global market for medical sensors. Over the ensuing years, it is projected that the Asia Pacific medical sensors market will expand quickly.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 8.07 billion |
| Market size value in 2031 | USD 15.21 billion |
| Growth Rate | 7.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Medical Sensors Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Medical Sensors Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Medical Sensors Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Medical Sensors Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Medical Sensors Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Medical Sensors Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Medical Sensors Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
