Disposable Medical Sensors Market Is Predicted To Grow Swiftly Due To Rising Demand In Clinics & Home Diagnostic Devices Till 2025: Grand View Research, Inc.
The
global disposable medical sensors market is expected to reach USD 12.3
billion by 2025, according to a new report by Grand View Research, Inc.
Increasing prevalence of chronic diseases has been observed to be a major
factor driving growth which is demanding for better healthcare service provision
by high quality diagnostic and monitoring devices. These devices will enable
patients to self-monitor and along with easy and affordable usage. In addition,
the rapidly rising technological advancements is expected to bring in
innovation in medical sensors.
The
market is also being driven by government initiatives to fund and encourage
R&D which in turn will help in launching innovative products. For instance,
the government of India increased the health expenditure from 1.4% to 2.5% for
innovations, and other healthcare services. Innovations in medical sensors not
only instill ease of use but also assist in making the device portable and
automated.
On
the basis of product, the biosensor segment is accounted to be the spearhead in
2016 and is expected to maintain its dominance over the forecast period. This
can be attributed to the rising demand for rapid and accurate diagnostic kit.
Development of such diagnostic tools is expected to further create new growth
opportunities for biosensors, thereby supporting growth of the disposable
medical sensors market. Launching of new products are expected to fuel market
growth. For instance, Raiing Medical launched wearable thermometer in 2016 that
is rechargeable and waterproof. Similarly, MEMSIC Inc. launched new pressure
sensor in 2017 which is used in breath detection.
U.S.
disposable medical sensors market by product, 2014 - 2025 (USD Million)
Browse full
research report on Disposable Medical Sensors Market: http://www.grandviewresearch.com/industry-analysis/disposable-medical-sensors-industry
Further
key findings from the report suggest:
- Globally,
disposable medical sensors witnessed lucrative growth in 2016 and are
expected to grow at a CAGR of 10.2% from 2017 to 2025
- Biosensor
segment has been observed to be the largest product segment in 2016 and is
estimated to generate revenue of over USD 6.03 billion by 2025
- On the
basis of application, the diagnostic segment is expected to dominate the
market space. This is attributed to the increasing incidence of various
infectious and other chronic conditions, along with the growing awareness
among the population.
- The
industry in Asia Pacific is expected to witness substantial growth over
the next decade owing to the increasing incidence of diseases and the
geriatric population with high unmet healthcare needs.
- Some of
the key players in this industry are Medtronic, Philips, GE Healthcare,
OmniVision Technologies, Sensiorion AG, Smiths Medical, and Analog
Devices.
Browse more
reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the global disposable medical sensors
market on the basis of product, distribution channel, end use, and region:
Product
Outlook (Revenue, USD Million, 2014 - 2025)
- Biosensors
- Pressure
sensors
- Accelerometer
sensors
- Temperature
sensors
- Image
sensors
Type
Outlook (Revenue, USD Million, 2014 - 2025)
- Strip
sensors
- Wearable
sensors
- Implantable
sensors
- Invasive
sensors
- Ingestible
sensors
Application
Outlook (Revenue, USD Million, 2014 - 2025)
- Diagnostic
- Therapeutic
- Patient
monitoring
Regional
Outlook (Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- U.K
- Asia
Pacific
- China
- Japan
- Latin
America
- Brazil
- Mexico
- Middle
East Asia
- South
Africa
- Saudi Arabia
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-disposable-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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