Medical Sensors Market Size, Share and Global Trend By Product Type (Diagnostic, Therapeutic, Imaging, Others), By Application (Glucose Monitoring, Temperature, Pulse Monitoring, Cerebral Oxygenation Monitoring, Others), By Technology (Wearable, Invasive, Non-Invasive, Others), By End-User (Hospital, Ambulatory Services, Homecare Settings, Research, Others) and Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
Medical sensors refer to devices that transmit electronic signals corresponding to physical, chemical, or biological impulses from the patient’s body. Medical sensors have diverse applications in diagnosis, monitoring, and treatment. The advancements in medical technologies aid in the accurate diagnosis of various medical indication leading to reduced treatment gap.
Some of the applications of medical sensors include air bubble detectors, force sensors, humidity sensors, and photo optic sensors. In January 2018, CAS Medical Systems Inc. submitted their 510(k) application to the U.S. FDA for the FORESIGHT Tissue Oximetry OEM Module to monitor cerebral oxygenation levels. These factors are anticipated to contribute to the global medical sensors industry growth.
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The global medical sensors market growth is expected to owe to the technological advancements in the medical sensors. In December 2018, Teva Pharmaceutical Industries Ltd. announced that the U.S FDA had approved ProAirDigihaler which contains built-in digital sensors that provide inhaler usage information coupled with a mobile application. The certain factor of medical sensor that includes, ease-of-use, at-home care, faster analysis among others is projected to propel the global medical sensors market.
The factor that is expected to inhibit the growth of the market is the high cost of medical sensors. Enigmatic and unclear regulatory guidelines are expected to harm the growth of the global medical sensors market. For instance, in July 2018, Orthosensor, Inc. has issued a Class 2 product recall by the U.S FDA for the product VERASENSE.
Key Players Covered
The major companies covered in the global medical sensors market report include Teva Pharmaceutical Industries Ltd., Masimo Corporation, Medtronic, CAS Medical Systems, Inc., NONIN, Tandem Diabetes Care, Inc., GE Healthcare, Philips N.V, and other players.
SEGMENTATION
SEGMENTATION | DETAILS |
By Product Type | · Diagnostic · Therapeutic · Imaging · Others |
By Application | · Glucose Monitoring · Temperature · Pulse Monitoring · Cerebral Oxygenation Monitoring · Others |
By Technology | · Wearable · Invasive · Non-Invasive · Others |
By End-User | · Hospital · Ambulatory Services · Homecare Settings · Research · Others |
By Geography | · North America (USA and Canada) · Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe) · Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific) · Latin America (Brazil, Mexico and Rest of Latin America) · Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa) |
As per the current medical sensors market trends, glucose monitoring among the application segment is anticipated to register a higher market share in the global medical sensors market owing to the rising prevalence of diabetes globally.
Key Insights
- Pipeline Analysis
- Regulatory Scenario for Key Countries
- Key Mergers and Acquisitions
- New Product Launches
- Key Performance Indicators for Global Medical Sensors Market
Regional Analysis
The global medical sensors market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is considered to dominate the market of medical sensors followed by Europe and cumulatively expected to hold major market share during the forecast period owing to evolving healthcare infrastructure. The increase in the adoption of wearable sensors and personalized healthcare devices are expected to boost the global medical sensors market in these regions. Additionally, increasing healthcare awareness among healthcare professionals and consumers in the Asia Pacific region is expected to provide the largest market opportunity for medical sensors. In Asia Pacific and Latin America, the evolving healthcare infrastructure and increasing awareness of technologically advanced medical sensors are anticipated to fuel the medical sensors market growth during the forecast period. Additionally, medical sensors market in Middle East and Africa is in the nascent stage; however, unmet needs for advanced healthcare devices is expected to drive the market growth in this region.
Medical Sensors Industry Developments
- In March 2018, FDA approved Medtronic MiniMed, Inc.’s Guardian Connect System, a continuous glucose monitoring system (CGM)
- In March 2018, MC10 received FDA 510(k) clearance for the Bio Stamp nPoint system, a wireless biometric data collection platform intended to use in clinical trial and research studies
- In June 2018, Senseonics Inc. received FDA 510(k) clearance Eversense Continuous Glucose Monitoring System for real time glucose monitoring
- Ongoing
- 2023
- 2019-2022
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