About Medical Sensors
Medical Sensors are the most important device in any health care fraternity. As these sensors help in detecting various diseases by different kind of signals such as physical, chemical and biological signals. In physical properties sensors such as temperature, vibrations and pressure are maintained. These sensors help the doctors to understand what exactly has happened to a patient and to ensure them a better line of treatment. Increase in aging population globally is driving the necessity to use these medical sensors in order to cure them.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Medical Sensors market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Medtronic Plc. (Ireland), Measurement Specialties Inc. (United States), NXP Semiconductors N.V. (Netherlands), STMicroelectronics N.V. (Switzerland), Honeywell International, Inc. (United States), Smiths Medical (United Kingdom), First Sensor AG (Germany), Analog Devices, Inc. (United States), Broadcom Inc. (United States) and Danaher Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are GE Measurement &Control Solutions, Inc. (United States), Stellar Technologies, Inc. (United States), OmniVision Technologies, Inc. (United States), Senserion AG (Switzerland), TE Connectivity Ltd. (Switzerland) and Micro-Epsilon Messtechnik GmbH Co. & KG (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Medical Sensors market by Type (Biosensors, Temperature Sensors, Motion Sensors, Image Sensors, Flow Sensors and Pressure Sensors), Application (Diagnostics (HIV Test Strip Sensors, Blood Glucose Test Strip Sensors, Pregnancy Test Strip Sensors, Drug and Alcohol Test Strip Sensors), Monitoring (Continuous Blood Pressure Monitors, Pulse Oximeters, Cardiac Monitors, Continuous Glucose Monitoring (CGM) Devices, Implantable Loop Recorder, Smart Pills), Therapeutics (Cardiac Therapeutic Devices, Cardiac Catheter Sensors, Insulin Pump Sensors) and Imaging (Capsule Endoscope Sensors)) and Region.
On the basis of geography, the market of Medical Sensors has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Placement, the sub-segment i.e. Wearable Sensors will boost the Medical Sensors market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-User, the sub-segment i.e. Hospitals will boost the Medical Sensors market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adoption of Smart Phones and Other Medical Devices for Various Diseases and Adoption of Implantable and Wearable Sensors to Improve Patient Health
Market Growth Drivers:
Increasing Government Initiative towards Medical Health Products, A Rise in Adoption of Iot and Advanced Technologies and Globally Rising Geriatric Population
Challenges:
Stringent Regulatory Procedures for Product Approval and Security Concerns in the Devices and Connectivity Problems
Restraints:
Insufficient and Uneven Reimbursement or Limited Warranty Coverage for Medical Devices and Slower Rate of Penetration of Advanced Medical Systems in Developing Regions
Opportunities:
Surge in Investment by Public and Private Players to Introduce Sensors In mhealth and Growing Campaigns Related to These Sensors and Healthcare Programs
Market Leaders and their expansionary development strategies
In November 2020, GE Healthcare has acquired of Prismatic Sensors AB, a Swedish start-up specializing in photon counting detectors, signifying the company’s continued investment in photon counting CT technology. This technology has the potential to significantly increase clinical performance for oncology, cardiology, neurology, and many other clinical CT applications.
In December 2023, Neuranics, a spin-out from the Universities of Edinburgh and Glasgow in Scotland, has announced the introduction of a new magnetic sensor development kit.The new kit is designed to record the heart’s magnetic activity and transmit it wirelessly via Bluetooth for round-the-clock recording and analysis on a smartphone, tablet, or laptop.
Key Target Audience
Medical Sensors Manufactures, Potential Investors, Government Bodies and Associations, Up and Down Stream Vendors, Private Research Organizations, Suppliers and Distributors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.