Medical Sensors Market Poised For Strong Growth Due To Increasing Adoption Of Wireless And Wearable Medical Devices
 |
| Medical Sensors Market |
The medical sensors market comprises of various types of sensor devices that are used to detect physiological signals and parameters in patients. These sensors help in monitoring vital signs such as temperature, blood pressure, heart rate, and glucose levels. Medical sensors find wide application in diagnostic imaging equipment, home healthcare devices, therapeutic devices, and clinical analysis equipment.
The global medical sensors market is estimated to be valued at US$ 22620.05 Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the growth of the medical sensors market is the increasing adoption of wireless and wearable medical devices. Manufacturers are focusing on developing miniature, lightweight, and less invasive medical sensors that can transmit physiological data wirelessly to monitoring devices such as smartphones. This allows for constant monitoring of patients both inside and outside healthcare facilities. The wearable form factor gives medical sensors the advantage of continuous real-time tracking of health parameters without restricting the mobility of patients. The growing popularity of self-monitoring and home healthcare is expected to further boost the demand for wireless medical sensors during the forecast period.
Segment Analysis
The medical sensors market is segmented into various types such as temperature sensors, pressure sensors, blood oxygen sensors, blood glucose sensors, ECG sensors, imaging sensors and motion sensors. Among these, temperature sensors dominate the market and accounts for the largest share. Temperature sensors are widely used to measure body temperature in wearable devices, respiratory products and medical bedding. These sensors help in continuous monitoring of temperature for both patients and elderly.
Key Takeaways
The Global Medical Sensors Market Demand is expected to witness high growth over the forecast period. Major factors driving the growth include rising demand for wireless and wearable medical devices, growing geriatric population and increasing prevalence of chronic diseases. The global medical sensors market is estimated to be valued at US$ 22620.05 Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030.
Regional analysis:
North America holds the leading share in the medical sensors market and is expected to dominate during the forecast period. Presence of major players, high healthcare expenditure and well-established healthcare infrastructure are major drivers for North American region. Asia Pacific is poised to grow at the fastest rate owing to growing medical tourism, increasing healthcare standards and rising disposable income.
Key players:
Key players operating in the medical sensors market are Cargill, Incorporated, Archer Daniels Midland Company (ADM), Skretting (a part of Nutreco), Aller Aqua Group, BioMar Group, Ridley Corporation Limited, Purina Animal Nutrition (a subsidiary of Land O'Lakes), Nutriad International NV (acquired by ADM in 2018), BENEO GmbH, Dibaq Aquaculture. Cargill, Incorporated specializes in developing biosensors for continuous monitoring applications. ADM focuses on glucose biosensors through its research division.
Explore more information on this topic, Please visit-
Comments
Post a Comment