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Medical Sensors Market Size

  • Report ID: GMI7279
  • Published Date: Nov 2023
  • Report Format: PDF

Medical Sensors Market Size

Medical Sensors Market was valued at over USD 15 billion in 2022 and is estimated to register a CAGR of over 10% between 2023 and 2032. The global industry is witnessing significant growth due to several causes including the growing use of sensors in portable & linked medical devices, the rapid uptake of IoT-based medical devices, rising healthcare costs, and the increased need for ventilators as a result of COVID-19. Rapid technological advancements in end-use industries are driving innovations in all sensor types including glucose monitoring sensors. These innovations are achieved through ongoing R&D activities focused on technologies such as microfluidics and wireless sensing. Sensors & technologies that can aid daily tasks, monitor a person's health, and save healthcare costs will witness demand as the population ages.

 

Medical Sensors Market

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Medical sensors are gadgets that react to external stimuli, such as pressure, heat, light, sound, or any particular action, and send the impulse to a medical professional for examination. These gadgets transform physical sensations into electrical impulses. Medical sensors have several uses in the diagnosis, treatment, and control of diseases. Low-power electronics, power harvesting, MEMS technology, and smart materials have all witnessed increased use in the healthcare sector as a result of advancements in these fields

 

The regularity standards that medical device manufacturers & suppliers of technologies must adhere to are impeding the expansion of the medical sensors market. For commercialization and integration with medical devices, medical sensor manufacturers are required to go through a variety of regulatory procedures that are specific to their country. Due to the extensive paperwork requirements and costly clinical trials, the development & marketing of ingestible and implanted sensors are time-consuming.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The market size for medical sensors was valued at over USD 15 billion in 2022 and is estimated to record more than 10% CAGR between 2023 and 2032.

The bio sensor segment share was over 24% in 2022 and is estimated to register about 11% CAGR from 2023 to 2032 as these sensors play a crucial role in healthcare and medical research by providing real-time data on various health-related parameters.

North America market size for medical sensors was over 33% in 2022 and is expected to grow through 2032 owing to the high prevalence of inadequate inhalers for asthma attacks, well-developed infrastructure, favorable reimbursement regulations, and rapid adoption of advanced medical technologies across the region.

Amphenol Corporation, Analog Devices, Honeywell Inc., STMicroelectronics, TE Connectivity, and Texas Instruments.

Medical Sensors Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 10
  • Tables & Figures: 437
  • Countries covered: 21
  • Pages: 200
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