Driven by High Unmet Healthcare Needs, Global Medical Sensors Market to reach US$15.5 Bn by 2019
Transparency Market Research announces the release of a new research report titled “Medical Sensors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”. According to the report, the global medical sensors market is projected to rise from a value of US$10.1 Bn in 2012 to US$15.5 Bn by 2019, expanding at a 6.30% CAGR during that period.
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
The medical sensors market is propelled by rapidly growing geriatric population base, rising incidence of chronic diseases, shift from hospital to home healthcare services and devices, demand for better and improved healthcare, and rising demand for lab automation. However, inadequate reimbursement for new technologies and stringent regulatory procedures threaten to hamper the growth of the medical sensors market.
On the basis of product type, the medical sensors market is segmented into temperature sensors, accelerometers, flow sensors, bionsensors, image sensors, pressure sensors, SQUID, and others such as position, force, chemical, and level sensors. Biosensors held the majority of the market in 2012 owing to high prevalence of diabetes and demand for diabetes care, growing demand for diagnostic and monitoring implantable medical devices, and rising number of applications in research of biological agents, drug development and delivery, and development of new technologies. Increasing applications in imaging and diagnostic devices such as MCG, magnetogastrography, MEG, and MRI are likely to boost SQUID sensors to become the fastest growing product types over the next four years.
By application, the medical sensors market is segmented into diagnostic, monitoring, surgical, and therapeutic. In 2012, the surgical segment held the largest share of the overall medical sensors market and this application is anticipated to continue dominating the market till 2019, the end of the forecast period. Sensors in surgical equipment enable efficient and smooth surgeries resulting in minimal discomfort to the patient. Growing need and demand for constant monitoring on health and wellness in emerging economies is likely to make the monitoring application the most rapidly developing segment by 2019.
On the basis of geography, the global medical sensors market is divided into North America, Europe, Asia Pacific, and Rest of the World. In 2012, North America dominated the global market, driven by adequate penetration of sensors in the market and presence of advanced healthcare infrastructure in the region. North America is likely to retain its lead in the worldwide medical sensors market through 2019. Asia Pacific, on the other hand, is anticipated to develop at the fastest pace during the forecast period owing to increasing unmet healthcare needs in emerging economies such as India, China, and the Southeast Asia region.
The leading companies profiled in the medical sensors market research report are Micro-Epsilon Messtechnik, OmniVision Technologies, Measurement Specialties, Honeywell International, Stellar Technology, Avago Technologies, Freescale Semiconductor, Danaher Corporation, Analog Devices, Sensirion, and GE Measurement & Control.
Medical Sensors Market, by Product Types
- Temperature sensors
- Image sensors
- Pressure sensors
- Flow (air and fluid) sensors
- Others (chemical, position, level, force)
Medical Sensors Market, by Applications
- Surgical Applications
- Therapeutic Applications
- Monitoring Applications
Medical Sensors Market, by Geography
- North America
- Asia Pacific
- Rest of the World
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