Disposable Medical Devices Sensors Market

Global Disposable Medical Devices Sensors Market Size (2022 to 2027)

The size of the global disposable medical devices sensors market is estimated to be worth USD 8.87 billion in 2022. This value is forecasted to be growing at a CAGR of 10.55% and worth USD 14.64 billion by 2027.

Disposable Medical Devices Sensors medical devices are used to detect particular data for patient monitoring or disease diagnosis. They are portable scanning devices used to measure heart rate, breathing rate, and body temperature. They are emerging as powerful, cost-effective tools for identifying diseases caused by viruses, bacteria, and fungi. Manufacturing companies should follow the new standards issued by the Government.

Sensor-based devices have enhanced in terms of characteristics, technology, and performance due to the continuous improvements of electronics in medical and pharmaceutical applications. With the advancement of IT and wireless sensor technology, disposable sensors and biosensors play a significant role in healthcare. Furthermore, the increase in microsystems technology such as MEMS, Si-based sensors, and microfluidic chips has become a benchmark in the healthcare sector with great accuracy and characteristics.

MARKET DRIVERS:

Increasing incidence of chronic diseases such as cancer, diabetes, and other infectious diseases, particularly in the geriatric population, and improving innovations in the development of medical sensors for diagnosis are the primary factors augmenting the disposable medical sensors market growth. Moreover, factors like a massive investment by private players, increasing the need for remote patient monitoring and next-generation disposable medical sensors, government support towards R&D in the field of sensors, the requirement of cost-effective devices and accessories, and raising awareness about medical sensors are also driving the disposable medical sensors market.

MARKET RESTRAINTS:

However, factors like stringent regulatory approval procedures, lack of reimbursement policies, and a limited number of skilled professionals hinder the growth of the disposable medical sensors market.

COVID-19 Impact on the global disposable medical devices sensors market:

The world has been placed on high alert due to the novel coronavirus (COVID 19) pandemic. In early March 2020, the World Health Organization announced a global pandemic. Disposable medical device sensors are handheld or portable scanning devices that are small screening devices used to track, diagnose and treat patients. Disposable medical sensors translate different forms of stimulation into electrical signals to detect and provide information in the form of electrical signals. Disposable medical sensors allow for continuous patient monitoring by measuring vital signs such as heart rate, breathing rate, blood oxygenation level, pulse rate, and temperature. Furthermore, disposable medical device sensors are critical for identifying disease-causing microbes like viruses, bacteria, and fungi.

Because of the COVID-19 pandemic, the Medical devices sensors market is more important than ever, allowing physicians to track health, preventing the spread of the novel coronavirus. Sensors are becoming increasingly common because they eliminate the possibility of human error, which can be fatal in certain circumstances. Medical establishments develop a monitoring device with a sophisticated collection of sensors and a higher significance rating. By considering all these factors, the Medical Devices Sensors Market has positive growth during this pandemic situation.

REPORT COVERAGE:

This research report on the global disposable medical devices sensors market has been segmented and sub-segmented based on type, placement of sensors, application, therapeutics, patient monitoring, imaging devices, end-user, region.

Disposable Medical Devices Sensors Market - By Type:                    

• Biosensors              
• Accelerometers    
• Image Sensors       
• Pressure Sensors  
• Temperature Sensors        

Based on Type, the Biosensors segment accounted for the largest share of the market. However, during the forecast period, the image sensors' segment will grow at the highest CAGR. Growth in this segment can be attributed to the growing demand for CMOS image sensors and emerging endoscopy products such as camera pills and disposable endoscopes combined with the increasing number of endoscopic procedures worldwide.

Disposable Medical Devices Sensors Market - By Placement of Sensors:      

• Invasive Sensors   
• Wearable Sensors
• Implantable Sensors           
• Strip Sensors          
• Ingestible Sensors

Based on Sensors' Placement, the Strip Sensors segment has accounted for the largest share in the past. It is anticipated to continue this trend during the forecast period to reach about USD 3000 Million. Due to their different benefits, such as cost-effectiveness, ease of use, non-infectious design, and faster performance, the strip sensor market's overall growth is driven by the widespread adoption of these sensors in diagnostic applications worldwide.

Disposable Medical Devices Sensors Market - By Application:

• Diagnostics              
• Blood Glucose Test Strips
• Pregnancy Test Strip Sensors
• Drug and Alcohol Test Strip Sensors
• HIV Test Strip Sensors

Based on the Application, the Diagnostic testing segment has shown a significant market share in the past. However, the imaging devices segment is expected to deliver the highest growth over the forecast period. The rising demand for effective treatment procedures is straightly impacting the development of the market towards positive. 

Disposable Medical Devices Sensors Market - By Therapeutics: 

• Dialysis Device Sensors
• Cardiac Therapy Devices
• Cardiac Catheter Sensors
• Insulin Pump Sensors

Disposable Medical Devices Sensors Market - By Patient Monitoring:

• Continuous Blood Pressure Monitors
• Pulse Oximeters
• Cardiac Monitors
• Continuous Glucose Monitoring (CGM) Devices
• Implantable Loop Recorders
• Smart Pills

Disposable Medical Devices Sensors Market - By imaging devices:

• Capsule Endoscope Sensors
• Disposable Endoscope Sensors

Disposable Medical Devices Sensors Market - By End-user:   

• Hospitals  
• Laboratories           
• Home-based      

Based on End User, Hospitals and Laboratories hold a significant share of the market, and the trend is expected to be maintained during the forecast period. Growing support from the government through investments in the healthcare centers is lavishing the growth rate of this segment.    

Disposable Medical Devices Sensors Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa

Geographically, North America accounted for the largest share of the global disposable medical sensors market in 2019 and predicted continuing the dominating trend during the forecast period. It is attributed mainly to the growing incidence of HAIs, the need to curb rising healthcare costs and the widespread use of sensor-based hospitals and disposable medical devices in this region. While North America and Europe will continue to dominate the market for disposable medical device sensors over the forecast period, the rising demand for various sensor-based disposable medical devices in APAC and Latin America will drive a majority of growth in global disposable medical device sensors.

During the forecast period, China, India, and Brazil are expected to offer significant growth opportunities for market players due to the rising geriatric population, increasing per capita income, evolving lifestyles, increasing investment by key market players in the healthcare industry, and growing demand for advanced technology in these countries.

KEY MARKET PLAYERS:

Noteworthy companies operating in the global disposable medical devices sensors market profiled in this report are Medtronic plc, Philips Healthcare, Analog Devices, GE Healthcare, Smith’s Medical, Honeywell International, STMicroelectronics, Freescale Semiconductors, Omnivision Technologies, and Sensirion AG.