The size of the North America Disposable Medical Devices Sensors Market is valued at USD 3.36 billion in 2022. This value is estimated to be growing at a CAGR of 10.58% to reach USD 5.56 billion by 2027.
Improved healthcare infrastructure and growing demand for medical sensors in the region. Additionally, technological advancements in medical device sensor technology have fueled market growth in North America. Besides, the increasing prevalence of chronic diseases and the rising demand for medical sensors in-home treatment have further fueled the development of the market. Huge R&D expenses are an essential factor in this market. Also, several trade policies such as NAFTA (North American Free Trade Agreement) between Mexico, Canada, and the United States of America should promote trade between them, thus enabling the North American market's expansion. The United States is currently the largest market in the North American region. It is not only the largest producer but also the largest consumer of medical devices in the world.
Reimbursement policies and the international regulatory environment vary from region to region, affecting medical device manufacturers in the North American market from a global perspective. Another major challenge facing this market includes strict provisions for the approval of medical devices by the FDA.
This research report on the North American Disposable Medical Device Sensors Market has been segmented and sub-segmented into the following categories:
North America is leading the North America disposable medical device sensors market due to the improved healthcare infrastructure, technological advancements, and innovative applications in medical device sensors and increasing demand.
North America dominates the global market for disposable sensors for medical devices. The United States is the largest disposable medical device sensor market in North America, followed by Canada. The increased demand for medical services and healthcare facilities in North America is estimated to significantly impact the growth of the North American market for disposable medical device sensors in the region between 2020 and 2025. Besides, the increased population spending in countries like the United States, the United States, and Canada are leading this industry's growth. Per capita purchasing power parity (PPP) -based health expenditure in the United States has increased significantly from USD 10,164.71 in 2018 to USD 11,377.52 in 2020, while it increased from USD 5,139.71 in 2018 to USD 6,012.41 in 2020 in Canada, according to the World Health Organization. Spending on personal health care in the United States, as reported by the Centers for Disease Control and Prevention, is expected to increase by a 5.1% annual percentage change in percentage between 2010 and 2020, with total spending of USD 1,971 billion in 2010, which rose to USD 2,975 billion in 2020. It can be attributed to the significant demand for new medical and healthcare technologies in North America.
Key Players dominating the North America Disposable Medical Device Sensors Market Profiled in the Report are Medtronic plc., Philips Healthcare, Analog Devices, Inc., GE Healthcare, Smiths Medical, Honeywell International, STMicroelectronics, Freescale Semiconductors, Inc., Omnivision Technologies, Inc., and Sensirion AG.
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