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. 

MARKET DRIVERS:

The growing patient volume suffering from chronic diseases and infectious diseases worldwide majorly propels the disposable medical device sensors market growth. The number of people suffering from chronic diseases such as cardiovascular diseases, diabetes, respiratory disorders, and kidney diseases is growing rapidly worldwide. Disposable medical device sensors play an important role in the continuous monitoring of vital signs, glucose levels, blood pressure, and other parameters in patients with chronic diseases and provide real-time data that aid in disease management, early detection of complications, and personalized treatment plans. On the other hand, infectious diseases such as COVID-19 have fuelled the importance of infection control and prevention in healthcare settings. The risk of cross-contamination and infection transmission can be significantly reduced by using disposable medical device sensors. The rising demand for continuous monitoring, early diagnosis, and preventive care for both chronic and infectious diseases is fuelling the adoption of disposable medical device sensors and driving market growth.

Technological advancements in sensor technology, growing demand for home healthcare and remote patient monitoring, favorable reimbursement policies, advantages of disposable sensors, such as convenience and cost-effectiveness and the growing geriatric population worldwide contribute to the growth of the disposable medical device sensors market. The growing healthcare expenditure, expansion of healthcare infrastructure in emerging economies and rising awareness about early diagnosis and preventive healthcare measures fuel the growth rate of the disposable medical device sensors market.

Stringent guidelines and standards for infection control and patient safety enforced by regulatory bodies, growing focus on preventive healthcare measures to detect diseases at early stages and promote overall well-being, rising adoption of telemedicine and virtual care services, especially in the wake of the COVID-19 pandemic and an increasing number of collaborations and partnerships among manufacturers, technology companies, and healthcare providers drive the growth of the disposable medical device sensors market.

MARKET RESTRAINTS:

High costs associated with disposable medical device sensors compared to reusable sensors are one of the major factors hampering the market growth. Limited or no reimbursement policies in place for disposable medical device sensors in some countries, stringent regulations and standards for disposable medical devices, limited sensor timespan of disposable medical device sensors and resistance to adopting new technologies and shifting from traditional reusable sensors to disposable sensors from some of the established healthcare settings further impede the market growth. Concerns about the accuracy and reliability of disposable sensors compared to reusable sensors and limited awareness among healthcare professionals about the benefits and usage of disposable medical device sensors further hinder market growth.

Impact of COVID-19 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 in 2022 and the domination of the segment is likely to continue throughout the forecast period. The growing prevalence of chronic diseases, increasing demand for point-of-care testing, technological advancements in biosensor technology and growing need for accurate and rapid diagnostic solutions drive the growth of the biosensors segment in the global market.

The image sensors segment is anticipated to grow at the highest CAGR during the forecast period. 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 propel the image sensors segment. The growing number of advancements in medical imaging technologies, rising demand for minimally invasive surgeries, improved visualization for accurate diagnoses and integration of image sensors with medical devices for better patient outcomes boost the growth of the image sensors segment in the global market.

Disposable Medical Devices Sensors Market - By Placement of Sensors:

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

Based on the placement of sensors, the strip sensors segment is estimated to capture the major share of the global market and is expected to grow at a promising CAGR during the forecast period. The benefits of strip sensors such as cost-effectiveness, ease of use, non-infectious design and faster performance majorly drive the growth of the strip sensors segment in the global market. The widespread adoption of strip sensors in diagnostic applications worldwide further boosts the growth rate of the segment in the global market.

The wearable sensors segment is anticipated to register a healthy CAGR during the forecast period. The growing interest in fitness tracking and remote patient monitoring, increasing advancements in wearable sensor technology, integration with mobile health applications and the rapid adoption of wearable devices for personal health management propel the growth of the wearable sensor segment in the global market.

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. Factors such as the growing prevalence of chronic diseases, technological advancements in sensor technologies, increasing demand for point-of-care testing and rising need for accurate and quick diagnosis drive the growth of the diagnostics segment in the global market.

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

Based on imaging devices, the capsule endoscope segment is anticipated to account for the major share of the global market during the forecast period owing to factors such as non-invasive procedures providing enhanced patient comfort and technological advancements improving image quality and functionality. The rising prevalence of gastrointestinal diseases and growing demand for accurate and detailed visualization of the gastrointestinal tract contribute to the growth of the capsule endoscope sensors segment in the global market.

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 market in 2022 and is predicted to continue the dominating trend during the forecast period. The growing incidence of HAIs, the increasing need to curb rising healthcare costs, and the widespread use of sensor-based hospitals and disposable medical devices in the North American region drive the North American market growth. The availability of well-established healthcare infrastructure, high healthcare expenditure, technological advancements and the presence of key market players in the North American region further fuel the growth rate of the North American market. The U.S. had the major share of the North American market in 2022 and is predicted to grow at a healthy CAGR during the forecast period owing to the favorable reimbursement policies and increasing adoption of disposable medical devices for patient care and monitoring contribute to the growth of the North American market.

The APAC disposable medical devices sensors market is anticipated to grow the fastest CAGR worldwide in the coming years. During the forecast period, China, India, and Brazil are expected to offer potential 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 the countries of the Asia-Pacific region. Factors such as an increasing population base, growing healthcare awareness, rising disposable income and a growing number of improvements in the healthcare infrastructure drive the APAC market growth. The growing prevalence of chronic diseases and rising focus on improving healthcare facilities further boost the demand for disposable medical device sensors in Asia-Pacific and promote regional market growth.

The European disposable medical devices sensors market is a promising regional market for disposable medical device sensors in the global market. It is expected to hold a considerable share of the worldwide market during the forecast period. The presence of advanced healthcare systems, a high prevalence of chronic diseases and a strong emphasis on patient safety boosts the growth of the European market. Factors such as increasing healthcare spending, government initiatives to promote the use of disposable medical devices and a growing geriatric population fuel the growth rate of the European market.

The disposable medical device sensors market in Latin America is anticipated to grow steadily in the coming years owing to the growing number of improvements in the healthcare infrastructure across Latin America, increasing healthcare expenditure and growing awareness about the benefits of disposable medical devices. The growing number of initiatives from the governments to expand healthcare access and the presence of a large underserved population support the Latin American market growth.

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 and Sensirion AG.