Disposable Medical Sensors Market Size and Share Projected to Reach USD 42.41 Billion By 2032, at CAGR of 16.9%: Global Insights by Polaris Market Research
NEW YORK, Jan. 11, 2024 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "Disposable Medical Sensors Market Share, Size, Trends, Industry Analysis Report, By Product (Biosensors, Pressure Sensors, Accelerometers, Temperature Sensors, Image Sensors, Others); By TYPE; By Application; By Region; Segment Forecast, 2024 - 2032" published by Polaris Market Research in its research repository.
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According to Polaris Market Research, the global disposable medical sensors market size and share is predicted to grow from USD 10.43 billion in 2023 to USD 42.41 billion in 2032. It is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 16.9% from 2024 to 2032, according to the latest report by Polaris Market Research.
Report Review
-- What are Disposable Medical Sensors? How Big is Disposable Medical
Sensors Size and Share?
In the medical field, a disposable medical sensor is a specialized tool used to diagnose, monitor, and control a range of physiological characteristics in patients. These sensors are usually thrown away after usage because they are made for single-use applications. They are essential in gathering data in real-time that helps medical practitioners decide how best to treat patients, which boosts the disposable medical sensors market demand.
Also, there are various medical sensors utilized to evaluate diverse parameters. Various medical sensors are employed to evaluate distinct parameters. Popular medical sensor types include thermometers, sphygmomanometers, electrocardiograms, pulse oximeters, and fluid level sensors. Disposable medical sensors are, as their name implies, one-time use disposable medical equipment. They are easy to use and reasonably priced. These are rapid, one-point assessments. The disposable nature provides the greatest levels of sanitation, hygiene, and patient safety.
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Our Sample Report May Includes:
-- 2032 Updated Report Introduction, Overview, and In-depth industry
analysis.
-- 115+ Pages Research Report (Inclusion of Updated Research).
-- Provide Chapter-wise guidance on Request.
-- 2023 Updated Regional Analysis with Graphical Representation of Size,
Share & Trends.
-- Includes Updated List of table & figures.
-- Updated Report Includes Top Market Players with their Business Strategy,
Sales Volume, and Revenue Analysis.
Who are the Key Players in Medical Devices?
-- ACE Medical Devices
-- Analog Devices, Inc.
-- GE Healthcare
-- Honeywell International Inc
-- Philips N.V.
-- Medtronic
-- NXP Semiconductor
-- Sensirion AG Switzerland
-- Smith's Medical
-- SSI Electronics
-- TE Connectivity
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Important Highlights from the Report
-- Throughout the years, the disposable medical sensors industry is
anticipated to be driven by the growing demand for medical sensors for
in-home treatment, the ongoing technical developments in medical
sensors, and the rising incidence of chronic diseases.
-- The disposable medical sensors market segmentation is mainly based on
type, product, region, and application.
-- North America accounted for the largest revenue share in 2023.
Market's Prime Determinants of Growth, Trends, and Opportunities
Growth Drivers
-- Increased Trend of Delivery and Portability of Care at Home: The demand
for more versatile, accurate, and compact next-generation therapeutic,
diagnostic, and monitoring devices and displays is being driven by the
trend toward care delivery and portability at the patient's home or
bedside. By combining technology innovations like wireless
internet-connected equipment, electronic patient records, and
customizable wearables, these platforms adopt a consumer-centric
approach to healthcare and aim to deliver practical, intelligent, and
at-home healthcare. As a result, the disposable medical sensors market
growth is expanding.
-- Growing Aging Population: The rise of portable, disposable medical
sensor devices at home is mostly driven by the rising aging population,
which is also increasingly disabled and chronically ill. Manufacturers
will, therefore, create medical equipment that people can discreetly
carry around, even in public.
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Trends and Opportunities
-- Rising Cost of Healthcare: Every year, the price of healthcare
increases. This is due to a number of factors, such as rising
regulations, higher taxes in some areas, and a rise in the demand for
diagnostic gadgets, all of which affect the total cost of production.
-- Improved Patient Monitoring and Treatment Options: In order to decrease
healthcare professionals' exposure to SARS-CoV-2 during the pandemic and
to enhance patient monitoring and treatment options, the FDA approved
Emergency Use Authorizations (EUAs) for a variety of patient monitoring
devices and wearables. The disposable medical sensors market size is
anticipated to be driven by wearable technologies designed to assist
patients infected with the new coronavirus (COVID-19).
Segmental Analysis
-- The Biosensors Sector Accounts for the Largest Market Share
The biosensors category held the disposable medical sensors market share, which was highest in 2023. Physiochemical detectors are used by biosensors, a type of sensor intended to identify analytes to gather biological components. These sensors pick up and quantify the signals that the analyte emits, and because they are connected to electronics, the signals they receive can be shown on the gadget.
Additionally, a sizable market share is projected for the image sensors category. Image sensors are essential because they transform light waves into signals that produce images. These sensors have a wide range of uses, but they are especially useful in the diagnostic industry. Image sensors are widely used in both electronic and medical imaging devices, such as endoscopic machines and cameras.
-- The Ingestible Sensors Sector Witness the Fastest CAGR
Throughout the forecast period, the ingestible sensors category is expected to grow at the fastest rate. Increased investments in research and development (R&D) and company collaboration are expected to propel disposable medical sensors market expansion.
Moreover, within the field of medical technology, edible sensors are essential. These tiny chips, which are swallowed as capsules, identify any anomalies in the body and send the information to a separate gadget. Ingestable sensors are becoming more important because of the increased demand for non-invasive diagnostic testing and the rising prevalence of chronic diseases. They are mostly utilized in controlled medication delivery, endoscopy, and patient monitoring.
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Disposable Medical Sensors Market: Report Scope
Report Attribute
Details
Revenue forecast in 2032
USD 42.41 Billion
Market size value in 2024
USD 12.17 Billion
Expected CAGR Growth
16.9% from 2024 - 2032
Base Year 2023
Forecast Year
2023 - 2032
Top Market Players SSI Electronics, ACE Medical Devices, Smith's Medical, Koninklijke Philips N.V., GE Healthcare, Analog Devices, Inc., TE Connectivity,
Honeywell International Inc, Medtronic, NXP Semiconductor
Segments Covered
By Product, By Type, By Application, By Region
Customization Options
Customized purchase options are available to meet any research needs.
Explore customized purchase options
Regional Insights
What is the Fast Growing Region in the Medical Device Industry?
North America: Due to a number of variables, including a well-established healthcare infrastructure, the existence of monopolistic market players, high healthcare spending, and the quick adoption of innovative technology, North America accounted for the greatest revenue share in 2023. The world's most advanced disposable medical sensors market is located in North America. The rapid uptake of homecare equipment and patient monitoring for continuous, regular, and long-term patient monitoring, together with the decline in hospital visits throughout the projected period, is anticipated to propel the market.
Asia Pacific: The market for disposable medical sensors is anticipated to grow rapidly in the Asia-Pacific area as well. The need for disposable medical sensor equipment is being driven by the rising incidence of heart illnesses in the Asia-Pacific region. This has a major influence on nations with high diabetes prevalence, including India and China.
Browse the Detail Report "Disposable Medical Sensors Market Share, Size, Trends, Industry Analysis Report, By Product (Biosensors, Pressure Sensors, Accelerometers, Temperature Sensors, Image Sensors, Others); By TYPE; By Application; By Region; Segment Forecast, 2024 - 2032" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/disposable-medical-sensors-market
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Key Questions Answered in the Report
? What is the current and expected size of the disposable medical sensors market?
Ans: The disposable medical sensors market was valued at USD 10.43 billion in 2023 and is expected to grow to USD 42.41 billion by 2032.
? What is the growth rate of the market?
Ans: The market is growing at a CAGR of 16.9% during the forecast period.
? Which is the fastest growing region in the market?
Ans: North America accounted for the largest revenue share in 2023.
? What are the driving factors of the disposable medical sensors market?
Ans: The disposable medical sensors industry is anticipated to be driven by the growing demand for medical sensors for in-home treatment, the ongoing technical developments in medical sensors, and the rising incidence of chronic diseases.
Polaris Market Research has segmented the disposable medical sensors market report based on product, type, application, and region:
Disposable Medical Sensors, Product Outlook (Revenue - USD Billion, 2019 - 2032)
-- Biosensors
-- Pressure Sensors
-- Accelerometers
-- Temperature Sensors
-- Image Sensors
-- Others
Disposable Medical Sensors, Type Outlook (Revenue - USD Billion, 2019 - 2032)
-- Strip Sensors
-- Wearable Sensors
-- Implantable Sensors
-- Invasive Sensors
-- Ingestible Sensors
Disposable Medical Sensors, Application Outlook (Revenue - USD Billion, 2019 - 2032)
-- Diagnostics Testing
-- Patient Monitoring
-- Therapeutic
Disposable Medical Sensors, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
-- North America
-- U.S.
-- Canada
-- Europe
-- France
-- Germany
-- UK
-- Italy
-- Netherlands
-- Spain
-- Russia
-- Asia Pacific
-- Japan
-- China
-- India
-- Malaysia
-- Indonesia
-- South Korea
-- Latin America
-- Brazil
-- Mexico
-- Argentina
-- Middle East & Africa
-- Saudi Arabia
-- UAE
-- Israel
-- South Africa
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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