Disposable medical sensors are portable instruments that monitor the health of a patient. The patient’s health is monitored by studying the heart rate, body temperature, and breathing rate. These devices play a key role in identifying harmful viruses or bacteria. They are renowned in the sector of medical devices owing to their sterile feature.
The disposable medical sensors market was anticipated at about USD 3.8 billion in 2013. It will generate revenues around USD 7.5 billion by 2020. The market would grow at more than 10% CAGR from 2014 to 2020 (forecast phase). Hospital-acquired infections (HAIs) and governmental support to curb the same are the primary market drivers.
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Disposable medical sensors are gaining recognition as they can fit into handheld medical devices and are cost-effective. Rising cancer detection sensors and MEMS (micro-electro-mechanical-systems) pressure sensors in hospitals will also spur their growth.
Wearable, strip, ingestible, invasive, and implantable are the disposable medical sensors market products. Strip sensors dominated the market in 2013, considering revenues. Ingestible sensors are expected to notice the fastest growth in the next six years. Digital and sensor-enabled pills could also boost the market.
On the basis of technologies; temperature, image, bio, pressure, and accelerometers are the medical sensors available. Image sensors would undergo rapid growth due to their ability of assisting endoscopy and medical imaging procedures. Biosensors will dominate the disposable medical sensors market over the forecast phase.
The applications comprise diagnostics, patient monitoring, and therapeutics. Diagnostics earned over USD 1.7 billion in 2013. Demand for biosensors for studying and diagnosing glucose levels in humans is estimated to propel the segment. Patient monitoring would grow at the fastest rate in the said phase.
In terms of geographies, North America led the disposable medical sensors market and contributed over 35% of the total revenues in 2013. Europe was the second largest market the same year. Asia Pacific has an estimated growth of more than 11% CAGR in the six years ahead. This could be attributed to home healthcare sensors and improved medical infrastructure in the region.
Key players in the worldwide disposable medical sensors market are Covidien Plc, GE Healthcare, Medtronic Inc., STMicroelectronics, and Sensirion AG.
Information Source: Grand View Research