Disposable Medical Devices Sensors Market

Global Disposable Medical Devices Sensors Market Size (2023 to 2028)

The size of the global disposable medical devices sensors market is estimated to be worth USD 9.8 billion in 2023. This value is forecasted to grow at a CAGR of 10.55% and will be worth USD 16.19 billion by 2028.

Global Disposable Medical Devices Sensors Market Share Insights:

• Based on type, the biosensors segment occupied 50.8% of the global market share in 2022.
• Based on the placement of sensors, the strip sensor segment led the market and held 35.4% of the worldwide market share in 2022.
• Based on application, the diagnostics segment captured 40.7% of the global market share in 2022.
• North America was the biggest regional segment worldwide and 39.7% of the global market share in 2022.
• The European market had the second-largest share of the worldwide market in 2022. 

Disposable medical device sensors are used to detect data for patient monitoring or disease diagnosis. They are portable scanning devices that 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:

The growing patient volume suffering from chronic diseases and other infectious diseases worldwide propels the disposable medical device sensors market growth.

In addition, the increasing geriatric population and improving innovations in developing medical sensors for diagnosis are the primary factors augmenting the disposable medical sensors market growth. Moreover, factors such as massive investments by market 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 for 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 such as viruses, bacteria, and fungi.

Because of the COVID-19 pandemic, the disposable medical devices sensors market is more important than ever, allowing physicians to track health and 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 monitoring devices with a sophisticated collection of sensors and a higher significance rating. Considering all these factors, the Medical Devices Sensors Market has had favorable growth during this COVID-19 pandemic.

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, and 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, the image sensors segment will grow at the highest CAGR during the forecast period. The growth of the segment can be attributed to the growing demand for CMOS image sensors and emerging endoscopy devices 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 and is expected to grow at a promising CAGR during the forecast period. 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 segment held a significant share of the worldwide market in 2022.

However, the imaging devices segment is expected to deliver the highest growth over the forecast period. In addition, the rising demand for effective treatment procedures directly impacts the market's positive development. 

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 the end-users, the hospitals had the largest share of the worldwide market in 2022 and the trend is expected to be maintained during the forecast period. Growing support from the government through investments in 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, the disposable medical devices sensors market in North America accounted for the largest share of the global disposable medical sensors market in 2021and is predicted to continue 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.

The APAC disposable medical devices sensors market is anticipated to grow the fastest worldwide in the coming years. 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.

The European disposable medical devices sensors market is a promising region in the global market. It is expected to hold a considerable share of the worldwide market during the forecast period.

The disposable medical device sensors market in Latin America is anticipated to grow steadily in the coming years.

The MEA disposable medical devices sensors market is estimated to grow at a moderate CAGR during the forecast period.

KEY MARKET PLAYERS:

Companies playing a noteworthy role in the global disposable medical devices sensors market are Medtronic plc, Philips Healthcare, Analog Devices, GE Healthcare, Smith’s Medical, Honeywell International, STMicroelectronics, Freescale Semiconductors, Omnivision Technologies, Sensirion AG.