Global Disposable Medical Device Sensor Market Size – Industry Trends & Forecast Report 2026
The Global Disposable Medical Device Sensor Market has reached USD in 2019 and is further projected to reach USD by 2026, rising at a CAGR of throughout the forecast period. Market growth can be endorsed to the mounting prevalence of diabetes and other contagious diseases across the globe, government provision for research and development activities in medical sensors, various welfares such as faster analysis, low costs, ease of use, and increasing needs to curtail mounting healthcare costs. On the other hand, inadequate reimbursements and clinical data necessities for various products in the market are expected to confine the whole market growth to a certain extent during the prediction period.
Source: BlueWeave Consulting
Global Disposable Medical Device Sensor Market Overview:
Disposable medical sensors refer to mechanisms that help in patient monitoring, diagnostics, and therapeutics which are handheld, compact, and portable in use. They benefit from on-site patient observation and remote patient monitoring as they measure vital components such as pulse rate, temperature, breathing rate, blood oxygenation level, and others. These are utilized by various medical specialties including neurology, radiology, ophthalmology, cardiology, and others. Over the past few years, the disposable medical devices sensors market has increased grip; the market has observed vertical growth over the past few decades and this tendency is anticipated to continue throughout the assessment period. Various factors such as the increasing occurrences of hospital-acquired infections, increasing healthcare expenditure, improved savings by venture capital firms to develop novel disposable medical device sensors and government provisions for R&D activities are accountable for the development of this market. However, this growth may be delayed by factors such as stringent regulatory approval processes accompanied by insufficient and irregular reimbursement for these medical devices.
Global Disposable Medical Device Sensor Market Forecast and Trends
Growing Healthcare Industry is contributing to the development of Global Disposable Medical Devices Market
The rise in partnership between government and profit organizations for the development of technical, financial, and operational aspects of the healthcare industry such as the delivery of better health care services to wider areas and up-gradation of medical supplies and gear. The rise in technological up-gradation in the healthcare sector including the rise of new monitoring techniques and digital innovation also influences the market. The increasing request for these sensors for homes and clinics due to their portability and efficiency and the rise in the rate of chronic disease cases across the world such as cancer, circulatory diseases, kidney illnesses, and hospital-acquired infections hasten the market growth.
Patient Monitoring is Expected to Show Rapid Growth Over the Forecast Period
Patient monitoring is one of the constantly growing markets and disposable sensors are majorly being used for patient monitoring. In the rural as well as urban areas of the emerging countries, there is a rising demand for in-home patient checking. This increasing demand is permitting the companies to utilize medical device sensors majorly for patient monitoring.
The use of sensors is getting popular as they avoid scope for human mistakes, which can prove fatal for some reasons. The medical institutions use a sophisticated set of sensors to create a monitoring system and have a greater significant value.
Therefore the use of sensors is not limited to patient care as it is also used in monitoring the movement of pharmaceutical and other test materials about patients. This will support the market to a very high growth rate in the future.
Impact of COVID-19 in the industry
As the COVID-19 pandemic lasts to disclose, medical device companies are facing it difficult to make informed decisions about their products, supply chains, and controlling duties amid uncertainty. Through this global pandemic, the medical device supervisory environment is rapidly familiarizing to meet the challenge of supplying sufficient PPE to front-line healthcare providers and life-saving equipment to those people in medical need. Medical device manufacturers must also rise to meet this challenge and embrace these chances to bring their device faster to the market and help us to come out safely on the other side of the COVID-19 curve. One industry that is majorly obstructed by this global crisis is the ventilator industry. There’s presently thought to be a global lack of thousands of ventilators as the world attempts to tackle the deadly pandemic.
Global Disposable Medical Device Sensor Market: By Product
The disposable medical device sensors market, by product, is divided into pressure sensors, accelerometers, biosensors, temperature sensors, image sensors, and others. The image sensors section is poised to cultivate at the uppermost CAGR in the forecast period. Development in this section can be credited to be fueled by the growing demand for CMOS image sensors and developing endoscopy products like camera pills and disposable endoscopes coupled with the growing number of endoscopic measures crosswise the globe.
Global Disposable Medical Device Sensor Market: By Application
Based on application, the disposable medical device sensors market is divided into diagnostic testing devices, patient monitoring devices, imaging devices, and therapeutic devices. The diagnostic testing devices section is additionally divided into HIV test kits, pregnancy test kits, drug, and alcohol test kits, and blood glucose test strips. The therapeutic devices segment is added divided into cardiac therapy devices, insulin pump sensors, dialysis device sensors, and cardiac catheter sensors. The patient monitoring devices section is categorized into constant blood pressure monitors, pulse oximeters, cardiac monitors, continuous glucose monitoring devices, implantable loop recorders, smart pills, and others. The imaging devices section is distributed into capsule endoscopes and disposable endoscopes. The diagnostic testing devices section accounted for the major share of the global market in 2014.
Global Disposable Medical Device Sensor Market: Regional insights
North America is expected to control the market and the main factors credited to the growth of the market in the region are a technical advancement in inventive sensors development and a high acceptance rate of sensors based devices in the region. The United States holds the largest market share due to the occurrence of key players in the market studied. The Asia Pacific is likely to register a high growth rate during the prediction period, due to government initiative in setting up of new hospitals and rising demand for sensor-based devices in-home care settings.
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Key players in the Disposable Medical Device Sensor Market include- Koninklijke Philips N.V., Medtronic, NXP Semiconductors., Honeywell International Inc, Smiths Medical, GENERAL ELECTRIC COMPANY, Analog Devices, Inc., TE Connectivity., Sensirion AG, STMicroelectronics, OmniVision Technologies, Inc., MEMSIC Semiconductor (Tianjin) Co., Ltd., Olympus Corporation, Texas Instruments Incorporated., Renesas Electronics Corporation., Qualcomm Technologies, Inc., NovoSci, KATECHO, LLC., GENTAG, Inc., SSI Electronics and other prominent players.
Scope of the Report
Historical data – 2016-2019
Base Year – 2019
Forecast – 2020 – 2026
Revenue in USD Billion
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina, AUAE, South Africa, Saudi Arabia
By Product,By Monitoring,By Application, By Region
Key players for Disposable Medical Device Sensor Market includes: Koninklijke Philips N.V., Medtronic, NXP Semiconductors., Honeywell International Inc, Smiths Medical, GENERAL ELECTRIC COMPANY, Analog Devices, Inc., TE Connectivity., Sensirion AG, STMicroelectronics, OmniVision Technologies, Inc., MEMSIC Semiconductor (Tianjin) Co., Ltd., Olympus Corporation, Texas Instruments Incorporated., Renesas Electronics Corporation., Qualcomm Technologies, Inc., NovoSci, KATECHO, LLC., GENTAG, Inc., SSI Electronics and other prominent players.
Ø Image sensor
Ø Smart Pill
Ø Pulse Oximeter
Ø Patient monitoring devices
o Constant blood pressure monitors
o Pulse oximeters
o Cardiac monitors
o Continuous glucose monitoring devices
o Implantable loop recorders
o Smart pills
Ø Diagnostic testing devices
o HIV test kits
o Pregnancy test kits
o Drug and alcohol test kits
o Blood glucose test strips
Ø Imaging devices
o Capsule endoscopes
o Disposable endoscopes
Ø Therapeutic devices
o Cardiac therapy devices
o Insulin pump sensors
o Dialysis device sensors
o Cardiac catheter sensors
Ø Asia Pacific
Ø North America
Ø Middle East & Africa
Ø Latin America