Medical Sensors Market Size to Reach Revenues of USD 2.31 Billion by 2026 - Arizton

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Oct 13, 2021, 09:48 ET

CHICAGO, Oct. 13, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this medical sensors market report.

The medical sensors market is expected to grow at a CAGR of over 1.04% during the period 2020−2026.

Key Highlights Offered in the Report:

1. The global medical sensors market by the product segment is witnessing a major growth in force sensors with increased demand for medical devices such as infusion pumps, catheters, dialysis machines, MRI devices, and others.

2. The physical sensors segment in the global medical sensors market held the highest revenue share in 2020 due to increased adoption of imaging equipment and medical devices incorporated with these sensors.

3. The global medical sensors market by the patient monitoring segment is expected to witness highest incremental and absolute growth of around USD 54 million and over 10.50%, respectively during the forecast period.

4. North America is the dominating region in the global medical sensors market, but APAC is likely to witness fastest growth with a CAGR of over 1.9% during the forecast period.

5. COVID-19 has increased the need for various medical devices such as ventilators, infusion pumps, and other wearable sensors, which contributed for the growth of market during the pandemic.

Key Offerings:

Market Size & Forecast by Revenue | 2020−2026
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by product type, mechanism, application, and geography
Competitive Landscape – 7 key vendors and 27 other vendors

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Medical Sensors Market – Segmentation

In 2020, force sensors accounted for a share of 23.12% in the global medical sensors market. Most of the therapeutic and drug delivery devices require a change in force to function. This change in force is either made automatically by the device or manually by the patient.
In 2020, physical accounted for a share of 43.84% in the global medical sensors market. Physical sensors are used to measure temperature, pressure, humidity, shear, and torsion. These can be converted into signals for measuring physical quantities by an instrument.
In 2020, diagnostics and imaging accounted for a share of 35.06% in the global medical sensors market. Medical diagnostics serve to investigate the causes of various diseases or functional disorders. Imaging methods such as ultrasound, computer tomography, and magnetic resonance tomography play an important role.

Medical Sensors Market by Product Type

Force sensors
Airflow sensors
Pressure sensors
Temperature sensors
Humidity sensors
Others

Medical Sensors Market by Mechanism

Physical
Biomedical
Chemical

Medical Sensors Market by Application

Diagnostics & imaging
Patient monitoring
Medical implants & endoscopy
Others

Medical Sensors Market – Dynamics

For the continuous monitoring of physical behaviors, activities, and biochemical and physiological parameters in daily life, sensors are being integrated into wearable technologies. The most commonly measured health data include body temperature, blood pressure, blood oxygen saturation, heart rate, posture, and various physical activities using ballistocardiogram, electrocardiogram and other devices. Potentially, wearable devices with photos or videos can also give extra clinical information. There are two major types of wearable devices used for studying gait patterns. For healthcare professionals, certain devices have been developed for monitoring walking patterns, such as multi-angle video recorders, accelerometers, and gyroscopes. Other devices such as mobile phone apps and on-wrist activity trackers have been developed for different types of health consumers. Wearable devices enhance a patient's quality of care and reduce healthcare costs that include patient rehabilitation outside healthcare settings.

Key Drivers and Trends fueling Market Growth:

Growing Number of Startups Promoting Medical Sensors
AI-based Medical Sensors for Clinical Decisions
Increased Miniaturization of Sensors into Medical Devices
Use of IoT-based Applications in Healthcare Devices

Medical Sensors Market – Geography

North America dominated the medical sensors market with the highest share in 2020. Major factors contributing to the growth of the medical sensors market in North America include the rising elderly population associated with a wide prevalence of chronic illness, which, in turn, is increasing the burden on the healthcare sector. The North American region has some of the most advanced healthcare infrastructure, which has led to developments in healthcare-based IoT. This has spiked the demand for sensors in medical devices, wearables, and implants. The presence of established players has majorly impacted the growth of the medical sensors market in the region.

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Medical Sensors Market by Geography

North America

US
Canada

Europe

Germany
UK
France
Italy
Spain

APAC

China
Japan
India
South Korea
Australia

Latin America

Brazil
Mexico
Argentina

Middle East and Africa

South Africa
Saudi Arabia
Turkey

Major Vendors

TE Connectivity
STMicroelectronics
Sensirion AG
ON Semiconductor Corporation
Tekscan
NXP Semiconductors
Amphenol Corporation

Other Prominent Vendors

All Sensors Corporation
ams AG
Analog Devices
Biometrics
Celera Motion
Cubic Sensor and Instrument Co.
GE Healthcare
Gems Sensors
Golden Valley Products
Honeywell International
Innovative Sensor Technology IST AG
Introtek International
Jiangsu Bairun Medical Technology
Maxim Integrated
Medtronic
OmniVision
Orantech
Koninklijke Philips N.V.
PreSens
Sensing Systems Corporation
Sensor Solutions
Servoflo Corporation
Smiths Medical
SST Sensing
Strain Measurement Devices
Thought Technology
Viomedex

Explore our healthcare & lifesciences profile know more about the industry.

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Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

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