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GLOBAL DISPOSABLE MEDICAL DEVICE SENSORS MARKET FORECAST 2018-2026
NEW YORK, July 31, 2019 /PRNewswire/ --
The Global disposable device sensor market is anticipated to grow from $ 5836.4 million in 2017 to $14115.0 million by 2026, at a CAGR of 10.31% between 2018 and 2026. The significant increase in diabetic population can be attributed to the market growth of the global disposable medical device sensors market. The Disposable device sensor market is primarily driven by the following factors:
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- Government backing for innovation
- Enhanced funding and support
- Requirement for cost-effective, non-invasive miniature devices
- Technology advancements
The important driver increasing growth in the global disposable device sensor market is the enhanced funding and support and technological advancements. The public-private partnership is the agreement between the government and private entities for the financial, operational, and technical development of the healthcare sectors. Public-private partnership can be implemented in a different application in health sectors such as the development of the new medical equipment and supplies, delivering health care services to broader areas, etc. Technological advancement across all the sectors are growing with the high rate and change in the way the industries works. In healthcare, technologic advancement like digital innovation and monitoring techniques are bringing a paradigm shift across the sector.
The applications of disposable device sensor market are used extensively for various purposes. The patient monitoring devices are electronic devices which help in the observation of a particular disease or conditions. A diagnostic test is a process used to gather the clinical information which helps to make a clinical decision (i.e. diagnosis). X-ray, biopsies, etc. are some of the examples of diagnostic tests. Growing cases of respiratory ailments such as asthma, lung cancer, etc. in the increasing ageing population, has globally increased the demand for therapeutic devices. According to American Cancer Society, in the U.S., more than 1,688,780 new cancer cases were registered in 2017. More than 589430 deaths were caused due to cancer, in which, more than 312150 were male and 277280 were female.
Government policies and unstable semiconductor market are the major factors hindering the disposable device sensor market. The continuous rising common practice in developing countries is the establishment of national regulatory requirements above and beyond the requirements within them. Fluctuation in the market of semiconductor, caused by economic cycles in each region and shift in the end user demand has affected the market technologies based on electronic sensors such as the disposable medical market.
The Global Disposable device sensor market segments include products, applications and placement sensors.
Products are segmented into:
Applications are segmented into:
Placement Sensors are segmented into:
This report covers the present market conditions and the growth prospects of the global disposable device sensors market for 2018-2026 and considered the revenue generated through the sales of disposable device sensors for products, applications, and placement sensors to calculate the market size, by considering 2017 as the base year.
Geographically, the global disposable device sensors market has been segmented on the basis of four major regions, which include:
Disposable Medical Device Sensors North America Market – United States & Canada
Disposable Medical Device Sensors Asia-Pacific Market – China, India, Japan, Australia, Korea & Rest of APAC
Disposable Medical Device Sensors Europe Market – United Kingdom, France, Germany, Italy, Spain & Rest of Europe
Rest of World- Latin America, Middle East and North Africa & Rest of Africa
The Disposable device sensor market in North America is expected to hold the largest share by 2026 on account of the huge investments in the R&D for medical devices and huge support for the industry from both the government and non-government organizations. The US medical device companies have gained appreciation and acceptation globally; majorly due to technologically advanced and innovative products offered by them. The high expenditure in the research and development of the region is majorly due to the huge demand for medical devices and other healthcare services in the region. On the other hand, the Asia-Pacific market is anticipated to be the fastest-growing region for the disposable device sensor market. New healthcare reforms by nation states and increasing household income are expected to drive the healthcare sector in the disposable medical device sensors market in the Asia Pacific. Healthcare sector in the Asia Pacific is estimated to grow by 7% per annum by 2020. India ranks second in terms of contribution to high-quality scientific research. It is among the world's top 10 nations in the number of scientific publications.
The disposable device sensor market is segmented based on its Products; which are sub-divided into accelerometer, biosensor, pressure sensor, image sensor & temperature sensor and also segmented on the basis of Placement Sensors which are sub-divided into invasive sensors, wearable sensors, strip sensor & ingestible sensors. Accelerometers are primarily used to measure acceleration and vibration. Biosensors are the devices that capture the biological signal and convert it into a detectable electrical signal. Pressure sensors allow medical devices to measure forces or determine the outline of applied forces. The image sensor is amongst the fastest growing product segment in disposable medical device sensors market. Due to increasing advancement of technology in wearable sensors, the demand for disposable wearable sensors in healthcare devices has increased globally. Also, increasing demand for ECG devices, modern medical display devices in the hospital, clinics etc. have fueled the market for invasive sensors.
The major market players in the global disposable device sensor market are:
Company Profiles covers analysis of important players.
Analog Devices, Inc. (Analog Devices or 'the company') designs and manufactures a wide range of mixed-signal analogues and digital signal handling ICs. The company offers amplifiers and power management products, linear products, data converters, radio frequency (RF) ICs, and signal dispensation products, into technology platforms that meet specific customer and market needs, leveraging its engineering investment across a base of markets and customers. Olympus is a Japan-based manufacturer of precision machinery and devices for various industries. The company operates in four major geographical areas – Europe, Asia and Oceania, Japan and North America.
Key Findings of the global disposable device sensor market:
Technological advancements in terms of cancer tracking sensors
Diagnostic application dominates the application segment
Strip sensors lead the market
North America dominates the global market
1. ANALOG DEVICES
2. GE HEALTHCARE
3. HMICRO INC.
5. LIFESCAN, INC (ACQUIRED BY JOHNSON & JOHNSON)
6. MASIMO CORPORATION
8. OLYMPUS CORPORATION
9. OMNIVISION TECHNOLOGIES
10. PHILIPS HEALTHCARE
11. SENSIRION AG
12. SMITHS MEDICAL
14. TE CONNECTIVITY
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