Global Disposable Medical Sensors Market was Valued at US$ XX Mn in 2018, Owing to Increase in Adoption of Advanced Technologies and Biosensors and Rising Demand for Disposable Medical Sensors
Analyst Speak:
“The Global Disposable Medical Sensors Market was valued around US$ XX Mn by 2018 and growing at a significant CAGR over seven years forecast period 2019-2025” due to rise in prevalence of chronic diseases such as cancer, diabetes etc., cancer is the major driving factor for the growth of the market.
Precision Business Insights (PBI) in its report titled “Global Disposable Medical Sensors Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
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The global disposable medical sensors market was valued at US$ XX Mn in 2018 and growing at a significant CAGR over the forecast period due to increasing demand for the better healthcare services by high quality diagnostic and monitoring devices and devices can help patients self-monitor easily at affordable cost are major driving factors of disposable medical sensors market over the forecast period. In addition, initiatives by the government to fund and encourage R&D to launch newer products fuels the growth of the market. However, stringent regulatory policies and poor reimbursement policies hampers the growth of the market
Global disposable medical sensors market segmented on the basis of product type, placement type, and end user.
Biosensors Disposable Medical Sensors accounted for higher revenue share
Based on product type, global disposable medical sensors market segmented into image sensors, biosensors, pressure sensors, temperature sensors, and others. Biosensors accounted higher revenue share in 2018 and expected to dominate over the forecast period owing to increasing demand for the rapid and accurate diagnostic kits fuels the growth of the market. In addition, launch of new products boosts the growth of the market over forecast period. For instance, in 2016, Raiing Medical launched wearable thermometer that is rechargeable and waterproof.
North America leads the Global Disposable Medical Sensors market
PBI’s global disposable medical sensors market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to regional analysis, North America holds larger revenue share in 2018 and the same trend is projected to follow over 2019-2025 owing to increasing awareness among the patients regarding the benefits of the advanced treatment procedures and rising prevalence of chronic diseases drives the growth of the market over forecast years. Asia Pacific is expected to exhibit significant growth rate over forecast period due to improving technology and rising awareness among the patient population about the therapeutic applications in the region.
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Acquisitions & Mergers and strategic alliances and Approvals for the new Products are the key strategies adopted by the market players
Global disposable medical sensors market further reveals that the key player’s increasingly adopting strategies such as acquisitions & mergers and strategic alliance and approvals and launch of new products to enhance the market revenue share and stregthen their presence across the region. For instance, In September 2016, FDA approved Medtronic plc’s Enlitesensor for use with iPro2 Professional Continuous Glucose Monitoring (CGM) system.
Key player’s profiles in the report are TE Connectivity (Switzerland), Medtronic plc. (Ireland), Freescale Semiconductors, Inc. (U.S), Abbott Laboratories (U.S), Honeywell International, Inc. (U.S), STMicroelectronics (Switzerland), Philips N.V. (Netherlands), Analog Devices, Inc. (U.S), and GE Healthcare (U.K).
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Detailed Segmentation
By Product Type
Image Sensors
Biosensors
Pressure Sensors
Temperature Sensors
Accelerometer Sensors
Others
By Placement Type
Diagnostics
Blood Glucose Test Strip Sensors
Pregnancy Test Strip Sensors
Drug And Alcohol Test Strip Sensors
Immunoassay Biosensors
Capsule Endoscopes
HIV Test Strip Sensors
Patient Monitoring
Smart Pill
Cardiac Monitoring Electrode
Continuous Blood Pressure Monitoring
Implantable Loop Recorder
Pulse Oximeter
Therapeutics
Cardiac Therapeutic Electrode Sensors
Cardiac Catheter Sensors
Insulin Pump Sensors
Dialysis Sensors
By End User
Hospitals
Diagnostic Laboratories
Homecare
Others
Geography
North America
S
Canada
Europe
Germany
France
K
Italy
Spain
Russia
Poland
Rest of Europe
Asia-Pacific
Japan
China
India
Australia & New Zealand
Rest of Asia-Pacific
Rest of World
Brazil
South Africa
Saudi Arabia
Others
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