Acumen Research and Consulting recently published report titled “Disposable Medical Device Sensors Market, Analysis Report and Region Forecast, 2022 – 2030”
LOS ANGELES, Oct. 19, 2022 (GLOBE NEWSWIRE) — The Global Disposable Medical Device Sensors Market Size accounted for USD 6,193 Million in 2021 and is estimated to achieve a market size of USD 11,799 Million by 2030 growing at a CAGR of 7.6% from 2022 to 2030.
Disposable Medical Device Sensors Market Statistics
- Global disposable medical device sensors market revenue was worth USD 6,193 million in 2021, with a 7.6% CAGR from 2022 to 2030
- North America region was accounted 36% of disposable medical device sensors market share in 2021
- Asia-Pacific market is expected to grow at a CAGR of 8% from 2022 to 2030
- Based on product, biosensors capture over 42.9% of the overall market share in 2021
- Growing demand for remote monitoring of patients, drives the disposable medical device sensors market value
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Disposable Medical Device Sensors Market Report Coverage:
|Market||Disposable Medical Device Sensors Market|
|Disposable Medical Device Sensors Market Size 2021||USD 6,193 Million|
|Disposable Medical Device Sensors Market Forecast 2030||USD 11,799 Million|
|Disposable Medical Device Sensors Market CAGR During 2022 – 2030||7.6%|
|Disposable Medical Device Sensors Market Analysis Period||2018 – 2030|
|Disposable Medical Device Sensors Market Base Year||2021|
|Disposable Medical Device Sensors Market Forecast Data||2022 – 2030|
|Segments Covered||By Product, By Type of Sensor, By Application, And By Geography|
|Disposable Medical Device Sensors Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Medtronic PLC, Honeywell, JantPharmacal, STMicroelectronics, Gentag Inc., Lifescan Inc., Olympus Corporation, Freescale Semiconductor, F. Hoffmann-La Roche, Omnivision Technologies Inc, HmicroInc, Philips Healthcare, GE Healthcare, and Smiths Medical.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Disposable Medical Device Sensors Market Overview
Sensors are modest preprogrammed technologies that detect or analyze physical changes and collect, advice, and alert in life-threatening situations. Disposable medical devices are portable handheld equipment used to diagnose, monitor, as well as treat physical attributes. These sensors have applications in neurology, cardiology, cancer, radiography, ophthalmology, & proctology, as well as in numerous in-vitro clinical studies. These sensors assess and monitor key bodily factors such as blood pressure, heart rate, pulse rate, blood oxygen levels, blood cholesterol levels, blood glucose levels, and body temperature. The disposable medical device sensors market size has gained traction in recent decades, and this trend is expected to continue during the projected period.
Disposable Medical Device Sensors Market Growth Factors
- Rising demand for home-based medical products
- Growing incidence of chronic diseases
- Increasing demand for remote monitoring of patients
- Growing elderly population, as well as a rising number of postoperative rehabilitation patients
Disposable Medical Device Sensors Market Dynamics
The widespread use of sensing devices in everyday healthcare needs at residences and in hospitals to detect and treat different ailments and illnesses will boost the market. Furthermore, rising chronic conditions, including cancer and cardiovascular disease as well as various conditions such as diabetes as well as emerging infectious diseases, are driving the disposable medical device sensor market trend over the forecasting years. The emerging economies of the developing world will provide enormous growth potential for the participants. As various leading market players collaborate and invest to introduce innovative products in the smart pill technologies sensors market, smart pill technologies sensors will provide enormous growth prospects for companies.
Furthermore, consumers preferred healthcare choices delivered from the convenience of their own homes, as well as contact-free diagnostic and treatment technology. According to a study, consumption of at-home diagnostic devices will be more than treble in 2020 compared to 2019. As the number of cases and worst-case scenarios increased, so did the purchasing of medical equipment such as blood pressure monitors, pulse oximeters, glucometers, digital thermometers, as well as healthcare-related IoT devices.
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Disposable Medical Device Sensors Market Segmentation
The global disposable medical device sensors market has been segmented by Acumen Research and Consulting based on product, type of sensor, and application. By product, the segment is separated into biosensors, temperature sensors, image sensors, accelerometers, and pressure sensors. According to the disposable medical device sensors market forecast, the biosensors category is predicted to develop significantly in the next years.
In terms of type of sensor, the market is categorized into ingestible sensors, invasive sensors, implantable sensors, strip sensors, and wearable sensors. Moreover, the market is divided into diagnostic testing devices, imaging devices, therapeutic devices, and patient monitoring devices, based on the application.
Disposable Medical Device Sensors Market Regional Overview
The global disposable medical device sensors market is separated into several geographic regions: Asia-Pacific, Europe, North America, Latin America, and the Middle East and Africa. According to a disposable medical device sensors industry analysis, North America is expected to lead the global market throughout the projection period. The extensive usage of disposable wearable sensors in diagnostic applications, owing to their numerous advantages such as cost-effectiveness, the convenience of use, non-infectious nature, and speedier findings, further contributes to market expansion. Furthermore, enhanced healthcare IT infrastructure and sensor development will drive the market in this region. Following North America, the European market, led by Germany, France, and the United Kingdom, accounts for a sizable portion of the disposable medical device sensors market.
Besides that, due to the rising frequency of chronic illness and patient pools, Asia-Pacific is predicted to have a significant growth rate during the projection period. Medical tourism and increased healthcare infrastructure are also helping the region’s prosperity. Early adoption of technological advancement in biomedical device sensors is expected to drive market growth.
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Disposable Medical Device Sensors Market Players
Some of the prominent disposable medical device sensors market companies are Medtronic PLC, JantPharmacal, Gentag Inc., Olympus Corporation, F. Hoffmann-La Roche, HmicroInc, GE Healthcare, Honeywell, STMicroelectronics, Lifescan Inc., Freescale Semiconductor, Omnivision Technologies Inc, Philips Healthcare, and Smiths Medical.
Disposable Medical Device Sensors Market Strategies
Some of the key strategies in market:
- In 2021, Abbott granted FDA Emergency Use Authorization (EUA) for the BinaxNOW COVID-19 investigation. It is a self-antigen test kit with rapid results that is available over the counter and does not require a prescription.
- In 2020, Medtronic developed the MiniMed 770G and gained FDA approval for its use. It is a hybrid loop system, and the results are visible through mobile applications.
- In 2018, Smiths Medical revealed the US commercial release of Delta Med SpA’sDeltaVen closed system catheter after it was cleared by the Food and Drug Administration (FDA).
Questions Answered By This Report
- What was the market size of Disposable Medical Device Sensors Market in 2021?
- What will be the CAGR of Disposable Medical Device Sensors Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Disposable Medical Device Sensors Market?
- Which region held the largest share in Disposable Medical Device Sensors Market in 2021?
- What are the key market drivers of Disposable Medical Device Sensors Market?
- Who is the largest end user Disposable Medical Device Sensors Market?
- What will be the Disposable Medical Device Sensors Market value in 2030?
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Mr. Richard Johnson
Acumen Research and Consulting
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