The global disposable medical sensor market was valued at $4,823 million in 2016, and is projected to reach $9,700 million by 2023, growing at a CAGR of 10.2% from 2017 to 2023. The biosensor segment accounted for nearly three sevenths share of the total market in 2016.
Advancements in sensor technologies and an advent of disposables and microelectronic in healthcare sector has led to the sizeable market growth. Hence, key players are nursing their next generation disposable medical sensor products, thereby expanding & evolving, generating a momentum to drive the growth of this market.
Disposable medical sensors are portable and cost-effective scanning devices used to diagnose and monitor various diseases. These devices function by measuring vital human parameters such as body temperature, breathing, and heart rates. Over the years, the disposable medical sensors have evolved in terms of features, performance, and characteristics. This is due to the continuous improvements in R&D of electronics in pharmaceutical and medical field. Furthermore, the advent of micro-electronics (MEMS) and high adoption of biosensors has played a significant role in the evolution of sensors in healthcare.
Key Findings of the Disposable Medical Sensor Market:
- The image sensor is anticipated to grow at a highest rate during the analysis period.
- The U.S. was the major shareholder in the North America disposable medical sensor market, and accounted for the highest share in 2016.
- The pressure sensor occupied about one-eighth share of the total disposable medical sensor market in 2016 and is expected to grow at a CAGR of 10.9% from 2017-2023.
- China occupied two-ninth share of the total Asia-Pacific disposable medical sensor market in 2016, registering a high CAGR of 13.1% from 2017 to 2023.
- The strip sensor segment dominated the market in 2016, growing at a CAGR of 9.6% from 2017 to 2023.
- The home care segment accounted for the two-fifth share in end user market for disposable medical sensors in 2016.
Leading market players:-
Leading market players analyzed in the research include Philips Healthcare, Sensirion AG Medtronic plc, Honeywell International, Inc., Smiths Group plc (Smiths Medical), STMicroelectronics, Omnivision Technologies, Inc., TE Connectivity (TE), First Sensor, and Ambu A/S.
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