The Worldwide Medical Sensors Industry is Expected to Reach $3 Billion by 2026 at a CAGR of 10.3% from 2021

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Aug 12, 2021, 16:30 ET

DUBLIN, Aug. 12, 2021 /PRNewswire/ -- The "Global Medical Sensors Market with COVID-19 Impact Analysis by Sensor Type (Pressure, Temperature, Blood Oxygen, Image, Flow Sensor), End-use Product, Medical Procedure (Invasive, Non-invasive), Device Classification, and Geography - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global medical sensors market is estimated to be worth USD 1.8 billion in 2021 and is projected to reach USD 3 billion by 2026, at a CAGR of 10.3%.

Increasing adoption of sensors in portable and connected medical devices, growing elderly population and increasing life expectancy, rising demand for wearable medical devices, surging adoption of IoT-based medical devices, burgeoning expenditure on healthcare and accelerating demand for ventilators due to COVID-19 are some of the key factors driving the growth of the medical sensors market globally.

The market for flow sensors could grow at the highest CAGR during the forecast period

The medical sensors market is expected to witness strong growth in the next 5 years mainly due to the rising incidents of chronic diseases; increasing adoption of medical imaging, monitoring, and implantable devices; rising expenditure on healthcare across the world; and a growing elderly population.

Due to the COVID-19 pandemic, there has been a rise in demand for ventilators, oxygen concentrators, and respiratory devices, as these devices are used to assist COVID-19 patients suffering from breathing problems and reduced blood oxygen levels. This sudden increase in the demand has led to a rise in the demand for flow sensors which are used in these devices. The miniaturization of sensors and the adoption of MEMS technology have opened new application areas for pressure sensors, thereby surging the demand for these sensors.

The market for patient monitoring devices is estimated to account for the largest share between 2021 and 2026 in medical sensors market

The integration of patient monitoring devices with smartphones and other wireless devices has led to the increased adoption of remote monitoring systems. The growing awareness about advanced medical devices among people, along with the development of innovative and advanced patient monitoring devices that are capable of real-time monitoring, enables healthcare professionals and users to take preventive measures before the severity of the illness is intensified.

Medical sensors market in the APAC region is expected to witness a robust growth during 2021-2026

The medical sensors market in APAC is projected to grow at the highest CAGR during the forecast period. Factors such as rising elderly population, flourishing medical tourism in countries such as China, India and Indonesia, and increasing government initiatives for modernizing the healthcare infrastructure in developing countries are supporting the growth of the medical sensors market in the APAC. Further, surging demand for quality medical care in APAC is expected to propel the medical sensors market growth in this region.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Growth Opportunities in Medical Sensors Market
4.2 Medical Sensors Market in Europe, by Medical Procedure and Country, 2020
4.3 Medical Sensors Market, by Medical Device Classification
4.4 Medical Sensors Market, by End-use Product
4.5 Medical Sensors Market, by Sensor Type
4.6 Medical Sensors Market, by Medical Procedure
4.7 Medical Sensors Market, by Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Adoption of Sensors in Portable and Connected Medical Devices
5.2.1.2 Growing Elderly Population and Increasing Life Expectancy
5.2.1.3 Rising Demand for Wearable Medical Devices
5.2.1.4 Surging Adoption of IoT-based Medical Devices
5.2.1.5 Burgeoning Expenditure on Healthcare
5.2.1.6 Accelerating Demand for Ventilators due to COVID-19
5.2.2 Restraints
5.2.2.1 Low Penetration of Medical Devices in Developing Countries
5.2.2.2 Complexity in Designing Compatible Medical Sensors
5.2.3 Opportunities
5.2.3.1 Advancements in Sensors and Digital Technologies
5.2.3.2 Growth Outlook of Healthcare Industry
5.2.3.3 Collaborations Among Key Market Players to Develop Healthcare Solutions
5.2.3.4 Increased Adoption of Surgical Robots
5.2.4 Challenges
5.2.4.1 Stringent Regulatory Environment and Requirement of Product Approvals
5.2.4.2 Data Leakages Associated with Connected Medical Devices

6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.3 Pricing Analysis: Average Selling Price Trends
6.4 List of Key Patents and Innovations
6.5 Key Technology Trends
6.5.1 Surgical Robots
6.5.2 IoT-based Medical Devices
6.5.3 AI-based Medical Devices
6.6 Porter's Five Forces Analysis
6.6.1 Threat of New Entrants
6.6.2 Threat of Substitutes
6.6.3 Bargaining Power of Suppliers
6.6.4 Bargaining Power of Buyers
6.6.5 Intensity of Competitive Rivalry
6.7 Case Studies
6.7.1 Pocket-Sized CPR Device
6.7.2 Temperature Sensors for Medical Use
6.7.3 Optical Sensor for Medical Monitoring
6.8 Trade Data
6.9 Regulatory Environment
6.9.1 India
6.9.2 US
6.10 Medical Sensors Market Ecosystem
6.11 Trends/Disruptions Impacting Businesses of Customers

7 Medical Sensors Market, by Sensor Type
7.1 Introduction
7.2 Temperature Sensors
7.2.1 Increased Adoption of Temperature Sensors for Imaging Devices, Patient Monitoring Devices, and Medical Implantable Devices is Driving this Segment
7.3 Pressure Sensors
7.3.1 Advanced Pressure Sensing Technologies Used in Medical Devices Enhance Patient Care and Reduce Costs
7.4 Blood Glucose Sensors
7.4.1 Increasing Number of People Having Diabetes, Heart-Related Diseases, and Kidney Problems is Driving Growth of Blood Glucose Sensors
7.5 Blood Oxygen Sensors
7.5.1 Increasing Demand for Pulse Oximeters, Respiratory Devices, and Anesthesia Monitors is Expected to Drive Blood Oxygen Sensors Market
7.6 Electrocardiogram (ECG) Sensors
7.6.1 Development of Advanced Products for Monitoring Cardiac Activity is Driving ECG Sensors Market
7.7 Image Sensors
7.7.1 Increasing Demand for Imaging Devices is Driving Growth of Image Sensors Market
7.8 Motion Sensors
7.8.1 Increased Adoption of Mems Sensors for Surgical Navigation Systems is Driving Growth of Motion Sensors
7.9 Heart Rate Sensors
7.9.1 Rising Adoption of Heart Rate Sensors in Personal Activity Monitors Would Drive Heart Rate Sensors Market
7.10 Flow Sensors
7.10.1 Surging Demand for Ventilators and Respiratory Devices due to COVID-19 Has Boosted Growth of Flow Sensors Market
7.11 Ingestible Sensors
7.11.1 Emergence of Advanced Diagnostic Imaging Technologies is Driving Growth of Ingestible Sensors
7.12 Touch Sensors
7.12.1 Rising Demand for Devices Equipped with Touchscreen Technology is Driving Touch Sensors Market
7.13 Piezo Film Sensors
7.13.1 Rising Number of Sleep Apnea Cases is Expected to Drive Piezo Film Sensors Market
7.14 Position Sensors
7.14.1 Rising Demand for Imaging Devices is Expected to Boost Position Sensors Market

8 Medical Sensors Market, by Medical Procedure
8.1 Introduction
8.2 Noninvasive Medical Procedures
8.2.1 Increasing Awareness About and Adoption of Advanced Patient Monitoring Devices are Expected to Drive the Growth of Medical Sensors Market for Noninvasive Procedures
8.3 Minimally Invasive Medical Procedures
8.3.1 Increasing Expenditure on Healthcare is Expected to Drive Medical Sensors Market for Minimally Invasive Procedures
8.4 Invasive Medical Procedures
8.4.1 Increased Adoption of Implantable Devices and Advent of IoMT are Expected to Boost Medical Sensors Market for Invasive Procedures

9 Medical Sensors Market, by End-use Product
9.1 Introduction
9.2 Diagnostic Imaging Devices
9.2.1 Rising Demand for Improved Diagnosis is Expected to Drive Medical Sensors Market for Diagnostic Imaging Devices
9.3 Patient Monitoring Devices
9.3.1 Increasing Demand for Portable Medical Devices to Boost Market Growth for Patient Monitoring Devices
9.4 Medical Implantable Devices
9.4.1 Increasing Cases of Cardiac and Neurological Disorders are Expected to Drive Medical Sensors Market for Medical Implantable Devices
9.5 Others
9.5.1 Surge in Demand for Ventilators is Expected to Drive Growth of Others Segment

10 Medical Sensors Market, by Medical Device Classification
10.1 Introduction
10.2 Class I
10.3 Class II
10.4 Class III

11 Medical Sensors Market, by Medical Facility
11.1 Introduction
11.2 Hospitals & Clinics
11.2.1 Need to Integrate Devices with Information Systems and Handle Large Amounts of Patient Data Has Increased Adoption of Medical Sensors in Hospitals & Clinics
11.3 Nursing Homes, Assisted Living Facilities, Long-Term Care Centers, and Home Care Settings
11.3.1 Rising Number of People Suffering from Chronic Diseases is Expected to Enhance Adoption of Medical Sensors in These Facilities
11.4 Others
11.4.1 Rising Number of Private Imaging Centers is Expected to Drive Growth of Others Segment

12 Geographic Analysis

13 Competitive Landscape
13.1 Introduction
13.2 Market Share Analysis
13.3 Market Evaluation Framework
13.4 Historical Revenue Analysis, 2016-2020
13.5 Company Evaluation Quadrant
13.5.1 Star
13.5.2 Emerging Leader
13.5.3 Pervasive
13.5.4 Participant
13.6 Startup/SME Evaluation Matrix
13.6.1 Progressive Company
13.6.2 Responsive Company
13.6.3 Dynamic Company
13.6.4 Starting Block
13.7 Competitive Scenario
13.7.1 Product Launches and Developments
13.7.2 Deals

14 Company Profiles
14.1 Introduction
14.2 Key Players
14.2.1 Texas Instruments
14.2.2 TE Connectivity
14.2.3 Medtronic
14.2.4 Analog Devices
14.2.5 Tekscan
14.2.6 STMicroelectronics
14.2.7 NXP Semiconductors
14.2.8 Sensirion
14.2.9 ON Semiconductor Corporation
14.2.10 Amphenol Corporation
14.3 Other Key Players
14.3.1 Maxim Integrated (Acquired by Analog Devices)
14.3.2 AMS
14.3.3 Abbott
14.3.4 Envitec
14.3.5 Cirtec Medical Corporation (Cactus Semiconductor)
14.3.6 Innovative Sensor Technology IST AG
14.3.7 Keller America (Subsidiary of Keller AG Druckmesstechnik)
14.3.8 Omnivision Technologies, Inc.
14.3.9 Merit Sensor Systems (Subsidiary of Merit Medical Systems)
14.3.10 Infineon
14.3.11 Masimo
14.3.12 Stanley Healthcare (Part of Stanley, Black & Decker)
14.3.13 Vivalink
14.3.14 Microchip Technology Inc.
14.3.15 Siemens Healthineers
14.3.16 Renesas Electronics Corporation

15 Appendix

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