Medical Sensors Market is anticipated to grow at a CAGR of 7.8% from 2020 to 2030.
Market Industry Reports (MIR) has published a new report titled “Medical Sensors Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the global Medical Sensors market accounted for over US$ 1.84 billion in 2019. It is anticipated to grow at a CAGR of 7.8% from 2020 to 2030.
Medical sensors are used to monitor, diagnose, and treatment of targeted diseases. These products are increasingly used to monitor vital physiological parameters that will help healthcare professionals regarding deviations in the vital signs. Such features would, in turn, improve the quality of care by avoiding unnecessary medical complications. Due to such reasons, the demand and acceptance for different types of medical sensors are increasing among healthcare professionals.
The increasing prevalence of chronic disease coupled with a rising geriatric population will boost the growth of the market at a significant level during the forecast period. Chronically sick patients and therefore the massive senior population set kind the target population for the sensor-based devices because it is imperative for them to bear routine checkups; so, facilitating remote and point-of-care patient observation. Moreover, the increasing need for home healthcare devices, such as glucose observation as well as Blood Pressure monitoring is increasing due to cost-effectiveness and the easy operability of these products.
Regionally, North America and Europe accounted for maximum revenue share collectively. Increasing chronic disease incidences, new product developments coupled with the aging population will stimulate regional growth over the forecast period. On the flip side, the Asia-Pacific region is anticipated to witness the fastest growth during the review period. Growth is attributed to the rising income level, growing patient awareness, and strong development in healthcare infrastructure in this region. The Asia Pacific is expected to ascertain fast development over the coming period. Rising incidence of hearing loss significantly within the aged population paired with improvement within the distribution network of worldwide market players is foreseen to power the development of the Asia Pacific Medical Sensors market.
Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, Medical Sensors Market By Sensor Type (Ingestible Sensors, Temperature Sensors, Pressure Sensors, Blood Oxygen Sensors, Image Sensors, Touch Sensors, Blood Glucose Sensors, Motion Sensors, ECG Sensors, and Heart Rate Sensor), Application (Medical Implants And Endoscopy, Diagnostic Imaging, and Patient Monitoring) - Global Analysis & Forecast 2020-2030 in detail along with the table of contents:https://www.marketindustryreports.com/medical-sensors-market/419
Some of the prominent players in the global Medical Sensors market are, Texas Instrument, Innovative Sensor Technology, First Sensor, Analog Devices, Inc., NXP Semiconductors, Medtronic plc, Proteus Digital Health, Amphenol Advanced Sensors, Sensirion, Cirtec Medical, among others.
Key players are actively involved in new and innovative products launched. Recently, in May 2019, Analog Devices, Inc. launched a brand new side detector interface ICs that allows the subsequent generation of intelligent chemistry sensors for industrial and medical applications.
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