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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).

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. '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.'

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.

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.

North America dominated the largest portion of the 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.

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Global Medical Sensors Market

Product ID: SQSG35A2035