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In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Medical Sensors Market ReportSpeak directly to the analyst to clarify any post sales queries you may have.
The global medical sensors market was valued at USD 2,171.30 million in 2020 and is expected to reach USD 2310.41 million by 2026, growing at a CAGR of 1.04%.
The following factors are likely to contribute to the growth of the global medical sensors market during the forecast period:
- Rise in advanced wearable devices and home healthcare services
- Novel materials used in medical sensors
- Growing number of start-ups promoting medical sensors
- AI based medical sensors for clinical sensors
- Growing usage of biomedical sensors
MEDICAL SENSORS MARKET OVERVIEW
The rise of IoT in healthcare has led to the development of advanced medical devices integrated with sensors. Integrating patient monitoring devices with sensors raised the adoption of wearables and remote monitoring systems for managing health conditions. Advancements in MEMS technology have further increased the applications of sensing technologies in the healthcare and medical industries.
KEY HIGHLIGHTS
- The increased incorporation of sensors into healthcare devices, high demand for wearable sensors, and rise in advancements of IoT-based healthcare have contributed to the growth of the medical sensors industry.
- By geography, North America dominated with the highest share of 37.78% in the global medical sensors industry in 2020.
- The outbreak of COVID-19 has increased the demand for respiratory devices and remote monitoring wearables incorporated with different types of medical sensors.
- TE Connectivity acquired approximately 72% of the outstanding shares of First Sensor AG, a provider of sensing solutions based in Germany.
The study considers a detailed scenario of the present global medical sensors market and its market dynamics for the period 2021-2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.
MEDICAL SENSORS MARKET SEGMENTATION
This research report includes a detailed segmentation by
- Product type
- Mechanism
- Application
- Geography
MEDICAL SENSORS MARKET SEGMENTS
- In 2020, force sensors accounted for a share of 23.12% in the global medical sensors market. Most of the therapeutic and drug delivery devices require a change in force to function. This change in force is either made automatically by the device or manually by the patient. Therefore, incorporating force-sensing technology into drug-delivery and therapeutic devices can go a long way in addressing patient needs.
- Physical sensing devices are most commonly used and have contributed to military, agriculture, aerospace, and industry development.
Segmentation by Product Type
- Force sensors
- Airflow sensors
- Pressure sensors
- Temperature sensors
- Humidity sensors
- Others
Segmentation by Mechanism
- Physical
- Biomedical
- Chemical
Segmentation by Application
- Diagnostics & imaging
- Patient monitoring
- Medical implants & endoscopy
- Others
GEOGRAPHICAL ANALYSIS
North America: The market in this region is growing majorly due to the high adoption of sensors in medical devices, constant increase in the aging population with growing life expectancy, rise in the number of hospitals and related diagnostic services. It can also be attributed to the increased use of infusion pumps and ventilators integrated with sensors.
Europe: There has been a huge demand for sensors and wireless technology in various sectors such as industrial, automotive, and others.
APAC: Japan, India, South Korea, and Australia are the major revenue contributors in this region. The market is expected to witness high growth during the forecast period due to the rapid rise in the elderly population and various disorders requiring early diagnosis.
Segmentation by Geography
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- APAC
- China
- Japan
- India
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East and Africa
- South Africa
- Saudi Arabia
- Turkey
VENDOR ANALYSIS
- The key companies in the market are TE Connectivity, STMicroelectronics, Sensirion AG, ON Semiconductor Corporation, Tekscan, NXP Semiconductors, and Amphenol Corporation.
- Established companies can constantly involve themselves in acquisition, partnerships, and collaborations with emerging players to diversify their portfolios.
Key Vendors
- TE Connectivity
- STMicroelectronics
- Sensirion AG
- ON Semiconductor Corporation
- Tekscan
- NXP Semiconductors
- Amphenol Corporation
Other Prominent Vendors
- All Sensors Corporation
- ams AG
- Analog Devices
- Biometrics
- Celera Motion
- Cubic Sensor and Instrument Co.
- GE Healthcare
- Gems Sensors
- Golden Valley Products
- Honeywell International
- Innovative Sensor Technology IST AG
- Introtek International
- Jiangsu Bairun Medical Technology
- Maxim Integrated
- Medtronic
- OmniVision
- Orantech
- Koninklijke Philips N.V.
- PreSens
- Sensing Systems Corporation
- Sensor Solutions
- Servoflo Corporation
- Smiths Medical
- SST Sensing
- Strain Measurement Devices
- Thought Technology
- Viomedex
KEY QUESTIONS ANSWERED:
1. How big is the medical sensors market?2. Which region has the highest growth rate in the medical sensor market?
3. What segments are covered in the medical sensors market report?
4. What are the key driving factors for the growth of medical sensors?
5. Who are the key players in the medical sensor industry?
6. What is the impact of COVID-19 on the global medical sensors industry?
Table of Contents
1 Research Methodology2 Research Objectives3 Research Process6 Market at a Glance
4 Scope & Coverage
5 Report Assumptions & Caveats
7 Introduction
8 Market Opportunities & Trends
9 Market Growth Enablers
10 Market Growth Restraints
11 Market Landscape
12 Product Type
13 Mechanism
14 Application
15 Geography
16 North America
17 Europe
18 APAC
19 Latin America
20 Middle East & Africa
21 Competitive Landscape
22 Key Company Profiles
23 Other Prominent Vendors
24 Report Summary
25 Quantitative Summary
26 Appendix
LIST OF EXHIBITS
LIST OF TABLES
Companies Mentioned
- TE Connectivity
- STMicroelectronics
- Sensirion AG
- ON Semiconductor Corporation
- Tekscan
- NXP Semiconductors
- Amphenol Corporation
- All Sensors Corporation
- ams AG
- Analog Devices
- Biometrics
- Celera Motion
- Cubic Sensor and Instrument Co.
- GE Healthcare
- Gems Sensors
- Golden Valley Products
- Honeywell International
- Innovative Sensor Technology IST AG
- Introtek International
- Jiangsu Bairun Medical Technology
- Maxim Integrated
- Medtronic
- OmniVision
- Orantech
- Koninklijke Philips N.V.
- PreSens
- Sensing Systems Corporation
- Sensor Solutions
- Servoflo Corporation
- Smiths Medical
- SST Sensing
- Strain Measurement Devices
- Thought Technology
- Viomedex
Methodology
Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.
Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.
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