Disposable Medical Sensors Market

Disposable Medical Sensors Market Overview

The disposable medical sensors market is expected to grow at a CAGR of 8.1% over the forecast period, from USD 6.5 billion in 2021 to USD 9.4 billion in 2026.

Rising concerns about hospital-acquired infections and contamination, the rising incidence of target conditions, the growing demand for home-based medical care devices, significant technological advancements in the last few years, and government support for R&D activities for these devices are all driving the growth of demand for disposable medical sensors and sales of disposable medical sensors in the disposable medical sensors market.

Players in the disposable medical sensors market could expect development possibilities of sales of disposable medical sensors in growing markets in underdeveloped nations.

What has been the Implication of COVID-19 on the Disposable Medical Sensors market?

The demand for disposable medical sensors has increased due to the COVID-19 outbreak. This is mostly due to increased infection control measures in hospital settings due to the high virulence of the COVID-19 virus. In addition, people's increased knowledge of simple and quick solutions to obtain speedier test results also contributes to the rising demand for disposable medical sensors.

Consumer preferences and priorities have altered due to the COVID-19 epidemic, with a focus now on the use of technology and contact-free treatment. As a result, consumers are increasingly choosing remote healthcare services from the convenience and security of their own homes.
In addition, researchers throughout the world have been rushing to develop reliable and efficient innovative biosensor-based techniques for the early detection of SARS-CoV-2 during the current pandemic due to the rise in demand for disposable medical sensors.

What are the Key Drivers and Restraints of the Disposable Medical Sensors Market?

The disposable medical sensors market is projected to grow rapidly due to the increasing incidence of chronic diseases such as cancer, acute myocardial infarction, and diabetes mellitus, particularly in the geriatric population and an increasing number of postoperative rehabilitation patients across the globe. 

Major drivers for the disposable medical sensors market regarding escalation in sales of disposable medical sensors are technological advancements and increasing innovations in the development of point of care medical sensors for diagnosis and monitoring outside hospitals. 

At the same time, increasing the need for remote patient monitoring and demand for disposable medical device sensors such as painless diabetes monitors, wearable wristwatches, etc., are other opportunities to manufacturers. In addition, large numbers of regulatory approvals for biodegradable sensors are booming the disposable medical sensors market. 

However, the lack of adequate reimbursement policies for novel technologies and stringent regulatory procedures are the major factors that can hamper theb and the growth of disposable medical sensors over the forecast period.

What is the Regional Overview for Disposable Medical Sensors Market?

The United States represents the largest disposable medical sensors market in North America, Canada. Europe is expected to be the second-largest region in the disposable medical sensors market. 

Germany, France, and the U.K. are estimated to account for a major share in the Europe disposable medical sensors market share over the forecast period. 

The Asia Pacific is anticipated to represent a high growth rate of demand for disposable medical sensors in the next five years.

Sabyasachi Ghosh

Principal Consultant

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How is the Disposable Medical Sensors Market Segmented?

By application type, monitoring devices, particularly cardiac pacemakers and blood glucose monitors for the disposable medical sensors market, are the dominant segments across the globe due to high incidences of diabetes and cardiac diseases resulting in skyrocketing demand for disposable medical sensors and the sales of disposable medical sensors.

The diagnostic strips for HIV, pregnancy, blood glucose, and immunological tests are anticipated to hold a high collective share in the disposable medical  dical sensors market share. 

By end use, the hospitals and home care segments are projected to account for around 50% of the disposable medical sensors market share. The trend is forecast to continue through the forecast period.

By placement of sensors type, wearable sensors and strip sensors are estimated to register above-average CAGR over the forecast period due to its affordable price due to the miniaturization of equipment.

Who are the Dominant Players of the Disposable Medical Sensors Market?

Key players of Disposable Medical Sensors Market are Mayo Clinic and Gentag, Sensirion AG, Measurement Specialities, Smiths Medical, ST Microelectronics, Philips Healthcare, Medtronic, Freescale Semiconductor, Inc., GE Healthcare, Analog Devices, Inc., Given Imaging, Honeywell International, Inc. and Covidien, plc. 

For instance, Gentag Company extended the near field communication (NFC) technology to accomplish remote patient monitoring worldwide. In addition, Freescale Semiconductor, Inc is developing lower-cost, semiconductor-based sensors with high sensitivity to increase sales of disposable medical sensors. 

The Measurement Specialities is developing customized products to satisfy patient needs and surge disposable medical sensors sales. Analog Devices, Inc. collaborates with customers to accelerate the pace of innovation and produce breakthrough solutions for impossible conditions.

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