Daily Technology News

Technology News and Press Release Distribution Services

About US | Contact Us

Home | Technology News | Submit Press Release | Submit RSS Feed
Unlimited Press Release Distribution
Press release distribution service

IT News Media

ComputerWeekly
CIO News
PC World
MacWorld
InfoWorld
Tech Republic
Wall Street Journal Digital
ZDNet
Submit press release to these Tech media distribution list.

Technology News Releases

Medical Sensor Market Size Forecast to Reach $4.2 Billion by 2026

(IT-NEWSWIRE.COM, January 16, 2022 ) The global Medical Sensor Market size is forecast to reach $4.2 billion by 2026, growing at CAGR of 8.8% from 2021-2026. The increasing adoption of medical sensors in developing portable and connected devices is set to be the major driver for the growth of the medical monitor market over the forecast period. Additionally, adoption of wireless patient monitoring devices increases among patients during the pandemic situation will accelerate the market growth scope for companies operating in the medical sensor industry during the forecast period 2021-2026. Moreover, rise in chronic diseases and technological advancement such as AI, IoT and others for developing advanced smart patient blood glucose monitoring, pressure sensor and temperature sensor solutions are the other factors that will assist the market growth in future. Furthermore, increasing government healthcare expenditure for drug delivery improvements has been contributing to the market growth in long run. Such factors are analyzed to drive the market during the forecast period 2021-2026.



Medical Sensor Market Segment Analysis- By Application



Monitoring application segment is analyzed to account for the highest CAGR of 12.2% in the global Medical Sensor Market during the forecast period 2021-2026. The factors such as increasing advancements in wireless communication technology and growing internet penetration within healthcare sector to enable remote monitoring of patient’s vitals have been contributing to the market growth of Monitoring segment. Rise in chronic diseases and technological advances such as AI, IoT and others for developing advanced smart patient monitoring solutions act as major drivers for the growth of Monitoring Segment. Moreover, mobile cardiac telemetry has emerged as a necessary clinical tool for patients during the pandemic situation is also analyzed to boost the Medical Sensor market growth during the forecast period 2021-2026. Furthermore, increasing adoption of blood glucose meter and various portable healthcare devices is another factor analyzed to propel the Medical Sensor market growth. In November 2020, Carematix’s Blipcare launched Blip BP 800 Cellular Blood Pressure Monitor. It is designed to combine seamlessly with Carematix’s Remote Patient Monitoring portal for monitoring blood pressure at home. Such developments increase the demand of Medical Sensors among medical device manufacturing companies in the long run.



Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=509462



Report Price: $ 5900 (Single User License)



Medical Sensor Market Segment Analysis- By End-Users



Based on end-users segmentation, Hospitals held the highest Medical Sensor Market share of around 56.5% in the global Medical Sensor market in 2020. The factors such as increasing adoption of advanced medical devices for early disease diagnosis and government emphasis towards routine check-up as well as timely treatment have been contributing to the increasing awareness among people, thus boosting the growth of the market. Moreover, Covid19 pandemic has been increasing the demand for wireless patient monitoring devices in hospitals, which further accelerate the market growth scope for companies operating in the medical sensor industry. In May 2020, Royal Philips launched the next-generation wireless wearable biosensor i.e. BX100, in order to manage confirmed as well as suspected COVID-19 patients within the hospitals. It is designed primarily to address new method to vital sign measurements, supports clinical surveillance of higher acuity patients shifting from ICUs to lower acuity general care units. Such developments can influence the market growth of Medical Sensor in the long run.



Medical Sensor Market Segment Analysis-By Geography



North America held the highest Medical Sensor Market share of around 36.5% in the global Medical Sensor Market in 2020 and is further set to grow at a significant rate during the forecast period 2021-2026. The factors such as high demand for wireless or portable systems, rising rate of chronic or cardiovascular diseases and others have been contributing to the market growth across the region in long run. Additionally, government healthcare spending in an annual budget will create opportunities for the growth of the market. For instance, According to U.S Department of Health and Human Services data, USA Healthcare Expenditure is estimated to reach $6.2 Trillion by 2028 and will account for 20% of the GDP. Technological advancement in healthcare sector, penetration of smart fitness or wellness wearable devices along with investment in R&D activities for developing more advanced health monitoring products is set to create opportunities for the Medical Sensor Market. In September 2020, Tekscan Inc., a USA based medical sensor providing company, launched F-Scan64, a new easy-to-use wireless in-shoe pressure mapping system. The mapping technologies use ultra-thin pressure sensors to record pressure data while performing dynamic actions. Such developments can further influence the Medical Sensor market growth of in the long run.



Medical Sensor Market Drivers



Rise in chronic diseases



Rise in chronic diseases such as diabetes, cardiovascular diseases, cancer and others act as a major driver boosting the growth of patient monitoring devices, which further influences the growth of medical sensor market. Patients suffering from cardiovascular diseases require continuous monitoring of body parameters including heart rate, pulse rate, blood glucose levels, ECG and others in order to analyze current health status. According to International Diabetes Federation (IDF), there were approximately 463 million people living with diabetes in 2019, with the number projected to rise to 700 million by the year 2045. In April 2020, Alive Cor announced about its global strategic alliance with OMRON Healthcare Co Ltd., in order to combine its ECG technology with OMRON’s blood pressure devices, for facilitating patient monitoring owing to the pandemic. As people with chronic illness, including heart disease are at higher risk of COVID infections, this will help in improving telemedicine services through allowing patients to send personal health data to physicians, boosting the integration of medical sensors in health monitoring devices.



Technological advancement like development of smart medical devices is set to be one of the factors that can drive the market forward



Development of smart medical devices is set to be one of the factors that can drive the market forward during the forecast period 2021-2026. Smart medical devices have medical sensors integrated with advanced computing and communication technologies to monitor collect and transmit patient data to provide better diagnostics and treatment decisions. Moreover, smart devices such as wearable; transmit critical medical data in real time from hospital beds, private homes and so on to physicians. Smart medical devices are also widely used for therapeutic treatments, injury prevention as well as rehabilitation. Furthermore, Covid19 pandemic compels the manufacturer to produce smart devices to monitor patient blood pressure, glucose level and so on. In November 2020, Medtronic plc, leader in medical technology, launched first and only FDA-cleared smart insulin pen i.e. InPen, integrated with real-time Guardian Connect CGM data to provide real-time glucose readings along with insulin dose information given to patient’s everyday to manage their diabetes. Such developments can influence the market growth of Medical Sensors in the long run.



Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=509462



Medical Sensor Market Challenges



Stringent regulations by the Government



Increasing stringency in government regulations acts as a major challenge restraining the market growth of Medical Sensors. The manufacturers of medical sensors are facing country-specific regulatory procedures for mixing sensors with medical devices from US Food and Drug Administration. The commercialization of medical sensors takes plenty of time due to elaborate documentation processes and costly clinical trials. Additionally, the regulatory authorities authenticate the composition of materials required to manufacture medical sensors. To obtain such regulatory approvals, it’s a matter of time, thus slowing down the process of commercialization of medical sensors, hampering the market’s growth. Furthermore, development of advanced medical sensors which involves complexity in designing and testing is the other factor that impedes the growth of the market. Owing to the above mentioned factors, use of medical sensors will be significantly impacted, thus hampering its market growth.



Medical Sensor Market Landscape



Partnership, Acquisitions, Collaboration, technology launches and R&D activities are key strategies adopted by players in the Medical Sensor Market. The Medical Sensor Market top 10 companies include TE Connectivity, Medtronic plc, Analog Devices, Texas Instruments, STMicroelectronics, Tekscan, NXP Semiconductors, Sensirion, ON Semiconductor Corporation and Amphenol Corporation.



Acquisitions/Technology Launches



In August 2021, Sensirion, world’s leading manufacturer of flow sensors for medical ventilation, expanding its flow sensors product portfolio for ventilators. The new three flow sensors are part of the SFM3xxx platform and share the same characteristics such as high accuracy, very low pressure drop and fast signal sampling.



In May 2020, TE Connectivity, a global leader in connectivity and sensors, developed SMI SO-10 pressure sensor package with vertical port which includes a MEMS pressure sensor and an advanced signal-conditioning IC to offer a fully pressure calibrated and temperature compensated output. It is designed for a wide range of applications from medical to HVAC.



Key Takeaways



Monitoring applications segment is analyzed to witness the highest growth rate in the Medical Sensor market during the forecast period 2021-2026, owing to factors such technological advancement and rise in chronic diseases.



Hospitals are anticipated to grow with a high CAGR of around 7.5% in the global Medical Sensor Market during the forecast period 2021-2026, owing to adoption of medical devices.



North America region is analyzed to witness the fastest growth in the global Medical Sensor market during 2021-2026, owing to rising government healthcare expenditure.



Related Reports



A.Sensors in Healthcare Applications Market

https://www.industryarc.com/Report/15809/sensors-in-healthcare-applications-market.html



B.Image Sensors Market

https://www.industryarc.com/Report/15000/image-sensors-market.html



For more Electronics Market reports, please click here



About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.

IndustryARC

Venkat Reddy

(+1) 970-236-3677

venkat@industryarc.com

Source: EmailWire.Com



Technology News By Sector
  • Application Development
  • Big Data
  • Desktops
  • Cloud Computing
  • Data Centers
  • Mobile Computing
  • OS
  • Open Source
  • Security
  • Virtualization
  • 
    
    

     Sign-Up To Our Free Newsletter!  
    IT-NewsWire Newsletter
     


    
    
    
    
    Technology Marketplace

    Free Information Technology Magazines, Downloads
    Get free tech publications including magazines and white papers
    Amazon, Inc News Headlines
    Read breaking news about Amazon.com as reported by TV news anchors and summaries news articles from New York Times

    Free Computer Security Magazines
    Download or subscribe to latest IT Security publications -- free of charge.

    Microsoft News
    Microsoft financial and at Work: read news about MSFT hardware, software and services.
    Submit RSS News Feed.
    Have your feed on news, products or services displayed under this marketpalce. The feed is also displayed on a full page and updated daily. Add RSS feed Now!



    Press release distribution services: Submit press release to major media. Unlimited press release service

    For unlimited press release distribution for $99 per month, call (281) 645-4086 or start posting your press releases online at EmailWire.com.

    IT-Newswire.com is part of GropWeb Network, online properties of GroupWeb Media LLC. Copyright © 2013 GroupWeb Media LLC. All Rights Reserved.


    GroupWeb Media Network
    AfricaNewswire.Net | AppleNews247.Com | AsiaNewsWire.Net | Aviation-NewsWire | Energy Industry | EstateNewsWire | Entertainment-NewsWire.com | Food Beverage News | Glamour NewsWire | Health NewsWire | Hosting NewsWire | i-Auto NewsWire | i-Business News | EuropeNewsWire.Net | iCameroon.com | i-Canada-News.Com | i-SoftwareNews.com | iT-NewsWire.Com
    | InvestorsNewsDesk.Com | i-TravelNewsWire.Com | LegalLaw247.com | Medical-NewsWire.com | MiningNewsWire.net | MoneyNewsWire.Net | Movie-Stars-News.Com | PayDayNews247.Com | PharmaNewsWire.Com | Publishing-NewsWire.Com | Shopping-NewsWire.com | Telecom-NewsWire.Net | Transportation-News.Com | USGovernment-News.Com | WebPosters.Net | Wireless-NewsWire.Com |
    IT-NewsWire.Com - Newswire and Press Release service of GroupWeb Media LLC