Disposable medical device sensors Market Size, Competitive Landscape, Regional Outlook, Industry Analysis , By Region Forecast to 2030
The global disposable medical device sensors market size was USD 6.54 Billion in 2021 and is expected to register a rapid revenue CAGR of 7.2% during the forecast period, according to latest analysis by Emergen Research. Increasing prevalence of chronic disorders is a key factor driving market revenue growth. According to Centers for Disease Control and Prevention (CDC), prevalence of diabetes in the U.S. was 41.9%. Majority of individuals in the U.S. do not eat a healthy diet and consume excessive levels of salt, saturated fat, and sugar, which increases their risk of acquiring chronic diseases.
Carbohydrates from foods of lower nutritional value, such as refined grains and cereals, added sugars, and potatoes, account for 42% of calories consumed in the U.S. Only 9% of calories come from higher-nutritional-value carbs such as whole grains, fruits, legumes, and non-starchy vegetables.
In addition, rising incidence of hospital-acquired infection is another key factor driving market revenue growth. According to World Health Organization (WHO), seven patients in high-income countries and 15 patients in low- and middle-income countries will get at least one Healthcare-Associated Infection (HAI) during their hospital stay for every 100 patients in acute-care hospitals. On an average, one out of every ten afflicted individuals would die as a result of HAI. Patients and babies in Intensive Care Units (ICU) are especially vulnerable. Healthcare-associated infections and antibiotic resistance have a huge impact on people’s lives. Every year, over 24% of patients with health-care-associated sepsis and 52.3% of those treated in an intensive care unit die.
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In this study, the years considered to estimate the market size of Disposable Medical Sensors market are as follows:
History Year: 2019-2020
Base Year: 2021
Forecast Year 2022 to 2030
List of TOP KEY PLAYERS in Disposable Medical Sensors Market Report are:
Medtronic plc, Honeywell International Inc., Koninklijke Philips N.V., General Electric Company, Sensirion AG, Gentag, Inc., Starboard Medical, Inc., Nuova GmbH, TE Connectivity, and NXP Semiconductors.
Some Key Highlights from the Report:
- The biosensors segment accounted for a significant revenue share in 2021. Biosensors can detect the smallest physiological changes in human body through accurate process monitoring and high sensitivity, which may be utilized to improve quality of life. Recent improvements in biological approaches incorporating fluorescent tags on nanomaterials have raised sensitivity limit of biosensors. Metal nanoparticles, nanowires, and graphene have been combined with affinity biosensors, making them an excellent tool for COVID-19 detection while also improving analytical performance. For example, GRIP Molecular Technologies, is developing graphene-based electronic biosensor technology that will allow for simultaneous, quick, and accurate detection of infectious illnesses such as COVID-19.
- The strip sensors segment accounted for a significant revenue share in 2021. Strip sensors are commonly used in blood glucose monitoring, disease diagnostics, and magnetic nanoparticle detection. In addition, strip sensors are widely utilized because they are affordable and simple to use. Another advantage of employing strip sensors is that the findings are acquired more rapid. Furthermore, the industry is being fueled by demand for self-diagnosis and home-based medical equipment.
- The North America market accounted for largest revenue share in 2021 owing to increasing prevalence of chronic disorders in this region. In addition, presence of key players is also driving revenue growth of the market. For instance, in May 2020, BioIntelliSense, Inc., a continuous health monitoring and clinical intelligence firm, announced the release of BioButton device, which expands its medical-grade biosensor product line and Data-as-a-Service (DaaS) platform.
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Disposable medical device sensors Market Segmentation :
- Product Outlook (Revenue, USD Billion; 2019-2030)
- Biosensors
- Pressure Sensors
- Accelerometers
- Temperature Sensors
- Image Sensors
- Others
- Type Outlook (Revenue, USD Billion; 2019-2030)
- Strip Sensors
- Wearable Sensors
- Invasive Sensors
- Ingestible Sensors
- Implantable Sensors
- Application Outlook (Revenue, USD Billion; 2019-2030)
- Diagnostics
- Patient Monitoring
- Therapeutics
Regional Segmentation:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report further examines the market in the key regions of the world with regard to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of prominent players in the regions. The report also covers the expansion plans undertaken by companies in the regions under the regional analysis section.
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What makes the information worth buying?
A comprehensive and in-depth overview of the global Disposable Medical Sensors industry in exchange, use, and geographical area sectors is provided.
This research looks at the industry rewards and constraints that influence industry growth.
Developing business strategies and aspects to aid in an emerging market.
Examining free markets and developing appropriate strategies.
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