Medical Sensors Market Is Predicted To Grow Quickly Due To Enhanced Demand In Therapeutic & The Diagnostic Sectors Till 2024: Grand View Research, Inc.
The medical sensors market is expected to reach USD 18.5 billion
by 2024, according to a new report by Grand View Research, Incite upsurge in
the number of patients afflicted with chronic conditions, such as diabetes and
hypertension, is fueling the usage of monitoring as well therapeutic devices,
thus boosting the market demand.
The target population for this
market is patients with chronic illnesses, as such conditions necessitate
regular checkups and intermittent or continuous patient monitoring. The rise in
population of chronically ill patients further increases the uptake of the
medical sensors.
The geriatric population is
highly prone to developing chronic disorders and they pose a higher risk of
developing age-related deformities and complications. Moreover, the adoption of
unhealthy food habits and sedentary lifestyles and the resultant surge in the
incidence of obesity has led to the increasing prevalence of lifestyle
disorders including diabetes. The presence of a large target population base
combined with the prevalence of lifestyle-related risk factors is likely to
accelerate the growth of the medical sensors market during the forecast period.
Technological advancements in
terms of accuracy, portability, and affordability associated with the new
generation medical sensors resulted in the increased usage of these devices;
for instance, the introduction of easy-to-operate, home-based diagnostic kits that
are cost effective.
Browse full research report on Medical Sensors Market: http://www.grandviewresearch.com/industry-analysis/medical-sensors-market
Further key findings from the study suggest:
- The biosensors products segment held a lucrative
share of over 40.0% in 2015. This is ascribable to the following
attributes of the novel biosensors: durability, reliability, and accuracy.
Moreover, their applications in the healthcare areas, such as the detection
of drug abuse, glucose monitoring for diabetes, the detection of
cholesterol, and others. All these elements governed the growth of this
segment in 2015.
- The surgical applications of the sensors dominated
the market in 2015. Whereas, the monitoring applications segment is
projected to be the fastest growing during the forecast period.
Advancements, such as wearable technology are anticipated to boost the
demand for the monitoring devices market.
- The hospitals registered a remunerative growth in
2015; this can be attributed to the presence of a well-developed
healthcare infrastructure, which yields faster and accurate diagnosis.
Moreover, the availability of well-equipped infrastructure coupled with
the presence of skilled personnel and technologically advanced equipments
contribute towards the lucrative growth of this segment.
- North America held a considerably large share of over
35.0% in 2015 owing to the presence of leading sensor manufacturers, a
well-planned medical reimbursement network, and the increasing disposable
income
- On the contrary, Asia Pacific is anticipated to be
the fastest growing region with a CAGR of over8.0% over the forecast
period. The favorable economic developments and the advancing healthcare
system with the aid of supportive government initiatives are anticipated
to further assist the growth. Moreover, the increasing base of the aging
population in this region also, additionally impels the demand. According
to the report published by the Ministry of Statistics, in India, 8.6% of
the total population is aged above 60; hence, presenting a profitable
opportunity for the market players to invest in this region.
- The leading players of the medical sensors market
include Analog devices, Inc., Avago technologies Ltd., Danaher
Corporation, GE Measurement &Control Solutions, Inc., Honeywell
International, Inc., Stellar technologies, Inc., OmniVision Technologies,
Inc., Sensation AG, TE Connectivity Ltd., Micro-Epsilon Messtechnik GmbH
Co. & KG, and NXP Semiconductors N.V.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the medical sensors market
on the basis of product, application area, end-use, and region.
Global Medical Sensors Market, by Product, Revenue(USD
Million) 2013 - 2024
- Pressure
sensors
- Temperature
sensors
- Image
sensors
- Accelerometers
- Biosensors
- Cholesterol
sensors
- Blood
glucose sensors
- Pregnancy
testing
- Drug
discovery
- Infectious
diseases
- Others
- Flow
sensors
- SQUID
sensors
- Others
Global Medical Sensors Market, by Application,
Revenue(USD Million), 2013 - 2024
- Surgical
- Diagnostic
- Therapeutic
- Monitoring
- Others
Global Medical Sensors Market, by End-use, Revenue(USD
Million), 2013 - 2024
- Hospitals
- Physician
offices
- Nursing
home
- Home
healthcare
- Others
Medical Sensors Market, by Region, Revenue, (USD
Million), 2013 - 2024
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia
Pacific
- Japan
- China
- Latin
America
- Brazil
- Mexico
- MEA
- South
Africa
- Saudi
Arabia
Access Press Release
By Grand View Research: http://www.grandviewresearch.com/press-release/global-medical-sensors-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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