Medical Sensors Market Forecast and Trends
Medical Sensors Market was worth USD 1.36 Billion in 2020 and is further projected to reach USD 2.32 Billion by the year 2027, growing at the CAGR of 8.1% in the forecast period (2021-2027).
Rise in adoption of smartphones and other electronic devices with sensor technology,
increase in government initiatives in mHealth products, increase in investment
by private and public players to introduce sensors in mHealth, and rise in
adoption of IoT and advanced technologies are the major factors driving the
market. Growing awareness of healthcare devices, the rising collaboration
between market players for the development of medical sensors, and increasing
healthcare expenditure create a future opportunity for the growth of the
market. The growing demand for medical patches across various applications such
as fitness, and potential to diagnose different disease conditions such as
cancer, cardiac disorders, diabetes, and high blood pressure is projected to
fuel the market growth of medical patches and sensors over the forecast period.
Moreover, factors such as
the ability to retrieve real-time information using medical sensors have led to
benefits such as the increase in patient safety along with the surge in the
response time of hospital staff as modifications in health can be fast sensed
through medical sensors. Technological advancement in the wearables device,
increasing demand for personal healthcare systems, and consciousness among the
consumers about the advantages of the medical sensors are some of the factors
that are estimated to boost the growth of the market over the forecast period.
Medical Sensors Market: Overview
Medical sensors are utilized
to make medical devices more productive and more straightforward in operation.
Recent technological advancements in medical sensors improve the use of smart
sensors for several diseases and conditions. Some of these include smartwatch
for heart rate and sleep apnea, diabetic care devices, orthopedic care devices,
and surgery-specific sensory devices.
One of the factors that
drive the global medical sensors market is the increasing adoption of medical
sensor technology. The global medical sensors market is growing owing to
various factors, which include improvement in technology, such as the
introduction of IoT in healthcare and increasing per capita income.
Technological advancement in the invasive sensor market leads to the
introduction of innovative devices in the field of medical sensors that have
enhanced market growth. Many gadgets are available in the market such as chest
strap to monitor hearth, smart glasses for visually impaired, etc. that help in
the growth of the market. Rising demand for advanced sensors-based medical
instruments and devices from several end users such as hospitals, and
ambulatory surgical centers, specialty clinics, is contributing to the growth
of global medical sensors market. Factors like growing geriatric population,
investment in research and development,
increasing per capita income also drive the market growth
Adoption of home-based
Medical sensors market is
emerging owing to the increase in the adoption of home-based healthcare
services as it provides the home-based medical monitoring of the patients that
reduces the burden to travel and wait for the physician. These medical
technologies offers flexibility in healthcare management by an early diagnosis
that promotes disease treatment. Also, the introduction of new devices that
offer more active analysis, at lower costs, and are user-friendly contribute to
the market growth of medical sensors.
Government regulations and
information security issues
Factors such as strict
government regulations and processes for approval of products that extend the
time to market are hampering the growth of this market. Apart from this, there
are certain security concerns related to the use of medical sensors, gathering
patient information, and storing it. Connectivity issues between the sensors
and the receivers are also restricting this market to achieve its actual growth
Medical Sensors Market: Sensor Type
On the basis of sensor type,
the market is segmented into Pressure Sensors, Temperature Sensors, Blood
Glucose Sensors, Blood Oxygen Sensors, Electrocardiogram (ECG) Sensors, Image
Sensors, Others. Increasing demand for pressure sensors in patient monitoring
devices, respiratory devices, and drug delivery systems are major factors
associating with the higher adoption of pressure sensors. Pressure sensors are
further expected to witness significant growth owing to the growing adoption of
invasive devices like spinal cord stimulator, peacemaker, gastric electric
stimulator, and endoscope.
Medical Sensors Market: Product Type
Based on its product type,
the market is categorized as
Non-invasive, Invasive. The
non-invasive segment is expected to grow at a considerable growth rate over the
forecast timespan. The significant factors facilitating the growth of medical
sensors for non–invasive product includes increasing demand for connected
medical devices, rising penetration of IoT-based medical devices, and
improvement in medical technology. Other factors stimulating the growth of
sensors for a non-invasive product involves the increasing demand for portable
monitoring devices and the growing adoption of IoT-based medical devices across
Medical Sensors Market: End-User
On the basis of end-user,
the medical sensor market is segmented into Hospitals & Clinics, Nursing
Homes, and Others. The hospitals segment is estimated to account for the
highest medical sensors market share. During the forecast period, the hospitals
and home care settings segments will grow at a faster rate than the overall
market. The growing adoption of medical sensors in hospitals to monitor
neuromotor and cognitive abilities in premature babies and elderly patients
will propel the growth of the medical sensors market in this segment.
Medical Sensors Market: Regional Insights
Geographically, the global
medical sensors market is segregated into North America, Europe, Asia Pacific,
Latin America and Middle East & Africa. North America is anticipated to
account for the largest share of the global medical sensors market. The
significant factors contributing towards the larger market size of the region
include higher expenditure on healthcare as a percentage of total GDP in
countries such as Canada and the US and the existence of a large number of
medical device manufacturers in this region. This is accredited to the
availability of advanced health care infrastructure in the region and the high
consumption of medical devices. The medical sensors market has seen enormous
growth in terms of technological advancements, increased healthcare expenditure
as a percentage of total GDP, and integration of health information technology
(IT) into primary care.
The companies that hold the
major share of global medical sensors market are Texas Instruments, TE
Connectivity, First Sensor, Medtronics, Tekscan Inc., Stmicroelectronics, NXP
Semiconductors, Sensirion AG, Amphenol Advanced Sensors, Proteus Digital
Health, Envitec, Cirtec Medical Corp., Innovative Sensor Technology, Keller
America, Merit Sensor Systems, Omnivision Technologies, Inc., TDK Sensors,
Infineon, Masimo, Stanley Healthcare, and other prominent players.
In January 2020, the
scientists at Northeastern University and Penn State informed that a new
wearable and highly sensitive gas sensor for monitoring human health and the
environment might soon be available on the market.
In January 2020, The leading
innovator in 3D motion tracking technology, Xsens, has announced the launch of
Xsens DOT which is a new precision motion tracking solution. It is a wearable
sensor development platform that allows to develop and prototype new
of the Report
Historical data –
Base Year – 2019
Forecast – 2020 – 2026
Revenue in USD Billion
United States, Canada, Germany, United Kingdom, France, Italy, Spain,
Brazil, Mexico, Argentina, Japan, South Korea, China, India, UAE, South
Africa, Saudi Arabia.
By Sensor Type, By
Product Type, By end-User, By Application, By Region.
Instruments, TE Connectivity, First Sensor, Medtronics, Tekscan Inc.,
Stmicroelectronics, NXP Semiconductors, Sensirion AG, Amphenol Advanced
Sensors, Proteus Digital Health, Envitec, Cirtec Medical Corp., Innovative
Sensor Technology, Keller America, Merit Sensor Systems, Omnivision
Technologies, Inc., TDK Sensors, Infineon, Masimo, Stanley Healthcare, and
other prominent players.
By Sensors Type
Blood Glucose Sensors
Blood Oxygen Sensors
Electrocardiogram (ECG) Sensors
By Product Type
Hospitals & Clinics
Medical Implants & Endoscopy
Middle East & Africa
objective of the Study:
To analyze and forecast the
Global Market size of the market in terms of value.
To examine the careful
market segmentation and forecast the market size, in terms of value, based on
the region by segmenting.
The Global Market segmented
into five regions, namely, North America, Europe, Asia Pacific, Middle East
& Africa, Latin America.
To outline, categorized, and
forecast the Global Market based on the Sensor Type, Product type, End-User,
To examine competitive
developments like technological advancement, services, and regulative framework
within the Global Market.
To highlight the impact
analysis of the factors affecting the market dynamics such as drivers,
restraints, opportunities, and challenges.
To strategically profile the
key players and comprehensively analyze their market shares along with
detailing the competitive landscape for market leaders.