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Global Medical Sensors Market to Reach US$15.5 bn by 2019 owing to Increasing Incidence of Chronic Diseases

Posted on Apr 08, 2016

Transparency Market Research has published a new report on the global medical sensors market. As per the report, the global medical sensors market is expected to expand at a 6.30% CAGR during the period between 2013 and 2019. The report, titled ‘Medical Sensors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,’ states that the global medical sensors market stood at US$10.1 bn in 2012 and is predicted to reach US$15.5 bn by 2019 due to factors such as the increasing incidence of chronic diseases, increasing geriatric population, and the rise in the shift from hospital care to home care. 

Browse the full Medical Sensors Market (Biosensors, Pressure, Image, SQUID, Temperature and Flow Sensors, Accelerometers, Surgical, Diagnostic, Monitoring and Therapeutic Applications) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019 report at https://www.transparencymarketresearch.com/medical-sensors-market.html

Considering the increasing cost of treatments in hospitals, the demand for home healthcare services is expected to increase in the coming few years. Medical sensors are amongst the most important medical devices used in home healthcare services. The global aging population is increasing day by day and the number of people above 65 years old is expected to increase from 605 million to 2 billion by 2050. The global home healthcare market is predicted to expand at an 8.10% CAGR during the period between 2014 and 2020. These interrelated factors are predicted to drive the global medical sensors market in the years to come.

Stringent government regulations and reimbursement policies are predicted to hamper the growth of the global medical sensors market in the years to come. However, the development of IT in the healthcare sector facilitating innovative medical applications for sensors and the presence of untapped markets are expected to contribute towards the growth of the global medical sensors market in the years to come. The global medical sensors market is segmented on the basis of geography, product type, and application. Based on application, the global medical sensors market is classified into surgical applications, diagnostics, monitoring applications, and therapeutic applications. In 2012, the global medical sensors market was led by the surgical applications segment, which accounted for more than 30% of the total market.

Some of the prominent companies in the global medical sensors market are GE Measurement & Control, Stellar Technology, OmniVision Technologies, Avago Technologies, Freescale Semiconductor, Sensirion, Honeywell International, and Analog Devices. Based on geography, the global medical sensors market is divided into North America, Asia Pacific, Europe, and Rest of the World. Currently, the global medical sensors market is dominated by North America, followed by Asia Pacific. The untapped market in India and China is predicted to propel the Asia Pacific medical sensors market in the coming few years.

By product type, the global medical sensors market is classified into SQUID, biosensors, temperature sensors, accelerometers, pressure sensors, image sensors, flow (air and fluid) sensors, and others (position, chemical, level, and flow). The biosensors segment is expected to dominate the global medical sensors market throughout the forecast period. The rise in the global demand for diagnostic and monitoring devices such as blood glucose level monitors, cardiac pacemakers, and other implantable medical devices is expected to propel the biosensors segment. However, the SQUID sensors segment is predicted to expand at a 7.90% CAGR during the period from 2013 to 2019.

Key Segments of Global Medical Sensors Market

Medical Sensors Market, by Product Types

  • Biosensors
  • Temperature sensors
  • Image sensors
  • Accelerometers
  • Pressure sensors
  • Flow (air and fluid) sensors
  • SQUID
  • Others (chemical, position, level, force)

Medical Sensors Market, by Applications

  • Surgical Applications
  • Diagnostic
  • Therapeutic Applications
  • Monitoring Applications

Medical Sensors Market by Regions

  • Europe
  • North America 
  • Asia Pacific 
  • Rest of the World 

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