APAC Medical Sensors Market

APAC Medical Sensors Market Size (2024 to 2029)

The Asia-Pacific medical sensors market is predicted to be growing at a healthy rate between 2024 to 2029.

The growing demand for wearable medical devices and the rising life expectancy within the Asia-Pacific region primarily drive the growth of the APAC medical sensors market. The rising awareness about fitness among individuals has led to the adoption of various medical-related devices and enable them to monitor their health without frequent doctor visits. Wearable medical devices, such as smart watches and bands, utilize sensors to measure common parameters like temperature and heart rate. These sensors can be either wearable or non-wearable, and the data collected from these parameters aids in medical diagnosis of patients.

Rapid adoption of sensors in portable and connected medical devices further contributes to the growth rate of the medical sensors market in the Asia-Pacific region. The healthcare sector is increasingly utilizing advanced technologies such as the Internet of Things (IoT) to maximize the benefits derived from sensors. These sensors play a crucial role in the hospital sector, enabling healthcare providers to continuously monitor patients' vital signs and potentially save lives. By facilitating early diagnosis and identification of symptoms, medical sensors contribute to accurate treatment and expedited patient recovery.

The growing geriatric population and the rising prevalence of chronic diseases in the APAC region favors the growth of the medical sensors market in the Asia-Pacific region. The surge in diabetes cases among the population has particularly driven the adoption of sensor-based devices for blood glucose monitoring. Nearly 60% of the Asian population suffers from diabetes. Continuous glucose monitoring systems, equipped with small sensors, play a vital role in detecting glucose levels in the interstitial fluid, aiding clinicians in making informed decisions regarding treatment. The growing instances of high blood pressure and cardiovascular disorders among the population of the APAC countries drives the growth of the APAC market growth. Portable blood pressure monitoring devices allow individuals to monitor their blood pressure at any time without requiring a doctor's consultation. These user-friendly devices can be easily operated without any specialized medical knowledge.

The high cost associated with sensor-based medical devices is one of the significant impediments to the growth of the medical sensors market in the Asia-Pacific region. The lack of awareness among individuals about advanced medical devices and the shortage of skilled professionals at manufacturing centers impedes the regional market growth. The lengthy approval process for novel products further contributes to the sluggish market growth. The complications in the design of certain devices is an obstacle to the growth rate of the APAC medical sensors market.

Impact of COVID-19 on the APAC medical sensors market:

SARS-COV-2 is an infectious disease caused by a recently discovered coronavirus. During the pandemic period, the emergence of COVID-19 has both a positive and negative impact on the APAC medical sensors market. The rise in COVID-19 cases has resulted in a regional lockdown. The World Health Organization declared the pandemic a healthcare emergence and provided guidelines to restrict disease transmission. The supply chain for the devices has been stopped due to transportation constraints. However, during the pandemic period, demand for medical sensors increased due to rising demand for home health care facilities, resulting in significant growth for medical sensors. The demand for medical sensors has increased dramatically. To meet the demand, industry manufacturers are focusing on producing medical sensor devices. Nonetheless, the medical sensors market is expected to expand faster during the forecast period.

This market research report on the APAC medical sensors market has been segmented and sub-segmented into the following categories.

By Type:

• Blood Glucose Sensors
• ECG Sensors
• Accelerometers
• Motion Sensors
• Pressure Sensors
  • Respiratory Devices
  • Patient Monitors
  • Future Solutions
• Temperature Sensors
• Blood Oxygen Sensors
• Image Sensors
• Inertial Sensors
• SQUID Sensors
• Others

By Application:

• Diagnostic
  • HIV test
  • Blood Glucose Test
  • Pregnancy Test
  • Drug and Alcohol Test
• Therapeutic
  • Cardiac Therapeutics Devices
  • Insulin Pump Sensors
  • Monitoring continuous Blood Pressure Monitors
  • Pulse Oximeters
  • Cardiac Monitors
  • Continuous Glucose Monitoring (CGM) Devices
  • Implantable Loop Recorder
  • Smart Pills
• Surgical
• Monitoring
• Imaging
  • Capsule Endoscope Sensors
  • Fitness and Wellness
  • Electronic Pedometer
  • Wearable Injectors
  • Continuous Glucose Monitor
  • Others

By Technology:

• Wearable Sensors
• Implantable Sensors
• Strip Sensors
• Invasive/Non-Invasive Sensors
• Embeddable Sensors

By Country:

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

The Asia Pacific region is the most lucrative regional market among all the regions worldwide and is expected to register the fastest CAGR during the forecast period owing to the rising adoption of sensor-based devices in the healthcare sector and increased healthcare expenditure by the population. During the pandemic, there was a high demand for sensor-based medical devices that enable the detection of patient vitals without physical contact. Awareness programs about patient monitoring devices have also contributed to improving lifestyle choices among the population.

China accounted for the leading share of the APAC market in 2022 and is expected to register a healthy CAGR during the forecast period owing to its numerous manufacturing facilities and advanced technology implementation in medical device manufacturing. Manufacturers in China focus on developing novel devices for healthcare management, contributing to the containment of virus transmission. The types of sensors used in medical devices include image sensors, oxygen sensors, temperature sensors, pressure sensors and ECG sensors.

India is predicted to witness the fastest CAGR during the forecast period in the Asia-Pacific region and the growth of the Indian market is majorly driven by the increased availability of medical sensor devices through online and offline e-commerce platforms and pharmacy sites. The presence of clinical trial centers, a rise in merger and acquisition activities, and the use of sensors in pills further propel the market forward.

KEY MARKET PLAYERS:

Notable companies playing a leading role in the Asia-Pacific medical sensors market profiled in this report are Texas Instruments, TE Connectivity, First Sensor, Medtronics Plc, NXP Semiconductors, Tekscan Inc., Amphenol Advanced Sensors, Proteus Digital Health, Cirtec Medical, Sensirion, Innovative Sensor Technology, Keller America, OmniVision Technologies, Masimo, TDK Sensors (Japan), Stanley Healthcare, EnviteC and Merit Medical Systems.