Medical Sensors Market - Forecasts from 2018 to 2023
Medical sensors market is estimated to reach a total market size of US$17.148 billion by 2023 from US$9.396 billion in 2017, growing at a compound annual growth rate of 10.55% over the forecast period. Rising healthcare costs and latest trend of home healthcare are the major factors driving the demand for medical sensors. Advancement in technology has led to a surge in usage of these sensors across different geographies. Healthcare professionals are also increasingly recommending these sensors for efficient patient monitoring as these have become an effective way of diagnosis of cancer, respiratory disorders, and cardiovascular diseases, and thereby providing a significant boost to the medical sensors market growth. Asia Pacific region is expected to grow at an impressive rate over the forecast period owing to increasing incidences of respiratory diseases and aging population.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the medical sensors value chain. Last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting. Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major market players which have been profiled as part of this report are Honeywell, NXP Semiconductors, and GE. Other players include MiTAC Europe Ltd., Analog Devices, TE Connectivity, Smiths Medical, and STMicroelectronics.
The medical sensor market has been segmented by type, applications, end users, placement and geography as below:
By End Users
Invasive and Non- Invasive
Middle East and Africa