The global disposable medical devices sensors market is expected to grow at a CAGR of around 7.8% from 2021 to 2028 and expected to reach the market value of around US$ 9,960.4 Mn by 2028.
Sensors are small preprogrammed devices that monitor or measure physical changes and record, advises and warns in critical situations. Disposable medical devices are small mobile devices used to diagnose, monitor physical properties for therapeutic purposes. These sensors are applicable in various therapeutic segments such as neurology, cardiovascular, oncology, radiology, ophthalmology, proctology and also used in various in-vitro and in-vivo clinical trials. Generally, these sensors are used to measure body vital parameters such as blood pressure, pulse rate, heartbeat, blood oxygen levels, blood glucose levels, blood cholesterol levels and body temperature. These disposable sensors have many advantages as compared to an earlier traditional type of sensors. They are easy to handle, easy to insert into body cavities, low risk, accurate results and low in cost. Advances disposable medical devices sensors can identify the disease-causing microbes such as bacteria, viruses and fungi. There are various types of sensors available in the market such as implantable sensors, invasive sensors, ingestible sensors and topical sensors. Implantable sensors have a broad scope across the globe since they are most widely used in medical researches. Invasive sensors are used to assess the chemical parameters inside the body by inserting a probe like a device that contains the sensor. Ingestible sensors available in the form of small pills are swallowed by patients to track the condition and functions of the various organs.
The increasing prevalence of chronic disorders such as cancer, cardiovascular diseases & diabetes and other infectious diseases due to lifestyles changes and habituation of luxury life have led to more hospital admissions which is the major factor to drive the market growth. Increased consumption of alcohol and tobacco products also leads to the high prevalence of chronic disorders. Technological advancements such as cancer tracking sensors, smart pills, micro-electro-mechanical systems and optic fibre technology have accounted for market growth. Ease in availability of smart devices and IoT things to measure various body vital parameters and introduction of new devices with low cost would result in the growth of the market. Conducting awareness programs about the benefits of frequent health checkups and investments towards R&D fuel the market.
Poor reimbursement policies, failures in devices and stringent regulatory policies may restrain the market growth.
Segment Analysis by Region
Based on region the global disposable medical device sensors market is segmented as North America, Europe, APAC, Latin America and Middle East and Africa. North America dominated the global disposable medical device sensors market over the forecast period. In Europe, U.K., Germany, France and Spain account for a considerable share of the disposable medical device sensors market after North America. Asia Pacific is also expected to have a high growth rate in forecast period owing to increased prevalence of chronic disease and patient pool. Striving medical tourism and improved healthcare infrastructures also contributing to the growth of the region.
Covid-19 Impact on Global Disposable Medical Device Sensors Market:
COVID-19 has impacted millions worldwide due to the disease and economic downturn as nearly all countries around the world imposed forcible lockdowns and curfews to bring back the situation normal. Barring the medical supplies and essential products industries, rest all the industries have been greatly affected. The healthcare industry also impacted due to disruptions in production and supply chain and expenditure has been increased to ensure safety measurements. The pandemic has surged the demand for disposable medical device sensors mainly due to high usage of devices such as oximeters, blood pressure monitors, electric thermometers, etc. which saw a sudden boom in this period. Increasing awareness regarding COVID-19 symptoms and its management led to growing demand for medical supplies; thereby driving the market for medical sensors.
Top industry key players in global disposable medical device sensors market include Medtronic PLC, GE Healthcare, TE Connectivity, Analog Devices, STMicroelectronics, Omnivision Technologies Inc, Lifescan Inc., Freescale Semiconductor, Olympus Corporation, Gentag Inc., F. Hoffmann-La Roche, JantPharmacal, HmicroInc, Honeywell, Philips Healthcare and Smiths Medical.
Disposable Medical Device Sensors Market Segment Analysis, 2021
The disposable medical device sensors market is segregated as Product, Type of sensor, Application, and Geography. The Product is further segmented as biosensors, accelerometers, ingestible sensors, temperature sensors, and image sensors. The type of sensor is sub segmented as Ingestible Sensors, Wearable Sensors, Invasive Sensors, Strip Sensors, and Implantable Sensors. The Application is further bifurcated as diagnostic testing devices, therapeutic devices, patient monitoring devices, and imaging devices.
Market By Product
Market By Type of Sensor
Market By Application
Diagnostic Testing Devices
Patient Monitoring Devices
The Global Disposable Medical Device Sensors Market in 2028 is expected to be above US$ 9,960.4 Mn.
The CAGR of the global Disposable Medical Device Sensors Market from 2021-2028 is 7.8%
The increased number of hospital visits and admissions is the major factor expected to drive the global market.
In Type of Sensors, ingestible sensors segment is expected to grow at faster pace.
In the global market the Asia Pacific region is expected to grow faster.
Medtronic PLC, GE Healthcare, Freescale Semiconductor, Olympus Corporation, Gentag Inc., Jant Pharmacal, Omnivision Technologies Inc, TE Connectivity, Analog Devices, STMicroelectronics, Lifescan Inc., Hmicro Inc and F.Hoff man la Roche.
North America is expected account for major market revenue share in global market.