Disposable Medical Sensors Market Size, Share & Trends Analysis Report By Product (Biosensors, Pressure, Accelerometer, and Temperature Sensor), By Type, By Application, And Segment Forecasts, 2018 - 2025

Industry Insights

The global disposable medical sensors market size was valued at USD 5.1 billion in 2016 and is expected to reach USD 12.3 billion in 2025 at a CAGR of 10.2% over the forecast period. Rising incidence of chronic diseases and the demand for low medical devices is expected to promote market growth over the forecast period.

The disposable medical sensors are identified as cost-effective and powerful tools for monitoring and diagnosing diseases as well as vital human parameters, and for various therapeutic applications. Sensor-based devices have evolved over the years in terms of improvement and applications. For instance, carbon nanotube-based biosensors are used for the detection of microorganisms such as S. aureus and E. coli. The technological advancement such as high speed and low cost is enabling faster and accurate results.

The increasing prevalence of chronic diseases is creating demand for sensors in clinics as well as the home diagnostic devices. This is justified by the rise in constant patient monitoring and diagnosis volume, which in turn is expected to promote higher sales of these disposable products.

Technological advancement such as the cancer tracking sensor, Micro-Electro-Mechanical Systems (MEMS) sensor technology, and fiber optic technology is expected to drive the market. Additionally, government initiatives to encourage R&D is expected to further fuel these technological advancements over the forecast period. However, factors such as inadequate reimbursement and stringent regulatory policies in certain regions like the European countries are anticipated to negatively impact the growth of the market.

Disposable Medical Sensors Market Trends

Development of low-cost medical devices with technological advancement in medical sensors would help the middle-income and low-income countries gain access to the diagnostic devices. Government initiatives to reduce the healthcare costs is expected to benefit the market.

Technology is playing a vital role in our daily lives and is evolving on a consistent basis. Rising demand for new products with changing lifestyle, need for ease and better facilities is leading to innovations. Technological advancement has led to improvement in business by increasing the productivity, simplifying the use of the device and making it convenient for the patients to improve their health.

The low and middle-income countries face challenges in adopting the medical devices due to high price of the product. Government initiatives to fund and encourage R&D would help in launching innovative medical sensors. For instance, the government of India increased the health expenditure from 1.4% to 2.5% for innovations, and other healthcare services.

贸易法规,要求许可证和permits have effects on the business. Regular health inspections are carried out at hospitals and clinics. Companies might spend a huge amount of money and time to comply with the regulatory policies. The European and North American countries have stringent policies as compared to the Asian, Latin American and Middle East & African countries.

The disposable medical sensors find high application in diagnostic and home-based medical devices. The reimbursement structure for these products is not a threat in countries such as the U.S. and European. However, some developing and underdeveloped countries do not have proper reimbursement structure unlike the developed countries.

Product Insights

Based on the product, the industry is segmented into biosensors, pressure, accelerometer, temperature, and image sensors. The biosensors segment held the largest market share as of 2016 and is expected to maintain this share over the forecast period owing to the increasing diagnosis of infectious disease and the demand for point of care testing, wherein these are commonly used.

Image sensors are expected to be the fastest-growing segment owing to the demand forComplementaryMetal-Oxide Semiconductor (CMOS) image sensors and the introduction of cost-effective products such as fiber optics which are used in endoscopes.

Type Insights

The disposable medical sensor on the basis of type is segmented into strip, wearable, implantable, invasive, and ingestible sensors. The strip based held the largest market share in 2016, owing to the adoption of strip-based products in various diagnostic applications such as glucose monitoring, magnetic nano-particles, and disease testing. Also, the high volume of patients suffering from diabetes, leading to continuous monitoring of the glucose level, is expected to maintain the market share over the forecast period.

Ingestible segment is expected to be the fastest-growing owing to the growing demand for ingestible pills and digital medicine. These are mainly used in endoscopy, controlled drug delivery, and patient monitoring. Increasing the prevalence of chronic diseases and the need for invasive diagnostic testing is propelling the growth of the ingestible segment. Additionally, the results obtained by using ingestible product is more accurate which is expected to fuel the market further

Application Insights

Disposable medical sensors are segmented into diagnostic, therapeutic, and patient monitoring based on application. The diagnostic segment has been identified to be the largest market shareholder due to its usage in a variety of diagnostic devices such as endoscopy, spirometry, and medical imaging devices. Additionally, the development of wireless communications owing to integrated biosensor is creating growth opportunities in the diagnostic field.

The patient monitoring segment is anticipated to be the fastest-growing segment over the forecast period. With the advancing technology and increasing need for better monitoring devices, the need formedical sensorsis rising. Additionally, new product launches are enhancing the quality of care.

Regional Insights

North America is expected to dominate the market as of 2016 by contributing over 40.0% of the revenue. The presence of a large number of industry players and the introduction of new products within the region is expected to support growth.

The U.S is the largest medical device market in the world owing to the large base of companies that are setup within the region. Furthermore, these companies are and are known for innovation and bringing about rapid evolution in healthcare device technologies according to the information provided by SelectUSA. With the increasing prevalence of chronic diseases along with the need to curb the healthcare expenditure, the demand for disposable medical sensors is rising in the region.

Germany held the largest market share of medical devices in Europe as of 2016. The region is characterized by strong innovation, technological advancement and better healthcare expenditure Healthcare industry is a priority for the German government as well as the European Union, therefore this creates opportunities for the global industry players to collaborate with existing German firms for development of innovative medical devices.

Asia Pacific has a growing establishment of medical device companies over the forecast period, leading to ancillary growth of the industry within the region. Furthermore, the presence of a large pool of geriatric population, and increase in healthcare spending, are expected to positively impact the market.

Competitive Insights

Key players of the disposable medical sensors industry are Medtronic, Philips Healthcare, Smiths Medical, Analog Devices, NXP Semiconductor, GE Healthcare, Sensirion AG, TE Connectivity, STMicroelectronics, and OmniVision Technologies.

The industry players adopt various strategies such as new product launch, collaborations, and mergers and acquisition. For Instance, Philips is expected to launch a next-generation monitoring biosensor that would continuously and automatically measure vital signs such as skin temperature, heart rate, and respiratory rate.

Report Scope

Attribute	Details
Base year for estimation	2016
Actual estimates/Historical data	2014 - 2016
Forecast period	2017 - 2025
Market representation	Revenue in USD Million and CAGR from 2017 to 2025
Regional scope	North America, Europe, Asia Pacific, Latin America, Middle East Asia
Country scope	U.S., Canada, U.K., Germany, China, Japan, Mexico, Brazil, South Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors and trends
15% free customization scope (equivalent to 5 analyst working days)	If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization

赛格ments Covered in the Report

这份报告预测收入增长在全球、再保险gional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global disposable medical sensors market on the basis of product, type, application, and region:

• Product Outlook (Revenue, USD Million, 2014 - 2025)

  • Biosensors

  • Pressure sensor

  • Accelerometer sensor

  • Temperature sensor

  • Image sensor

  • Others

• Type Outlook (Revenue, USD Million, 2014 - 2025)

  • Strip sensor

  • Wearable sensor

  • Implantable sensor

  • Invasive sensor

  • Ingestible sensor

• Application Outlook (Revenue, USD Million, 2014 - 2025)

  • Diagnostic

  • Therapeutic

  • Patient monitoring

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • U.K

  • Asia Pacific

    • China

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa

    • Saudi Arabia