Disposable Medical Device Sensors Market : Emerging Industry Trends, Top Players And Growth Opportunities

By Author: Healthcare News
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Market growth is largely driven by rising concerns over hospital-acquired infections and contamination, the increasing incidence of target conditions, the growing demand for home-based medical care devices, significant technological advancements in the last few years, and government support for RD activities for these devices. The emerging markets in developing countries are also expected to provide growth opportunities for players in the disposable medical device sensors market. However, the vulnerability of connected medical devices in terms of data leakages, government regulations, and the long certification and approval cycles are major challenges faced by the market.
According to research report the global disposable medical device sensors market size is projected to reach USD 9.4 billion by 2026 from USD 6.5 billion in 2021, at a CAGR of 7.7% during the forecast period.
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The market is segmented by Product (Biosensor, Image sensor, Accelerometer), Type (Strip Sensors, Invasive Sensors, Wearable Sensors), Application(Diagnostic Testing, Therapeutics, Patient Monitoring, Imaging) Geography

Based on products, the disposable medical device sensors market is segmented into biosensors, accelerometers, temperature sensors, image sensors, and other sensors. The biosensors segment accounted for the largest share in 2020. The large share of this segment can be attributed to the wide usage of these sensors in glucose test strips, infectious disease test strips, pregnancy test strips, drug and alcohol test strips, and continuous blood glucose monitoring.

Based on type, disposable medical device sensors are segmented into strip sensors, wearable sensors, invasive sensors, and ingestible sensors. The strip sensors segment accounted for the largest share in 2020. The large share of this segment can be attributed to the extensive usage of glucose test strips and infectious disease test strips and the increasing prevalence of diabetes and other infectious diseases across the globe. The widespread adoption of these sensors in diagnostic applications due to their varied benefits, such as cost-effectiveness, ease of use, non-infectious nature, and faster results, also supports market growth.

Based on applications, the disposable medical sensors market is divided into patient monitoring, diagnostic testing, therapeutics, and imaging. The diagnostic testing segment accounted for the largest share in 2020. The large share of this application segment can primarily be attributed to the rising incidence of lifestyle diseases across the globe. The widespread usage of glucose test strips, infectious disease test strips, and pregnancy test strips in homes as well as in clinics is another factor driving the market growth.

The disposable medical device sensors market is divided into five regions, namely, North America, Europe, Asia Pacific, and Rest of the World. North America dominated the global disposable medical sensors market. The large share of the North American region is mainly attributed to the rising incidence of HAIs and chronic diseases in the region. Further, the availability of technologically advanced sensor-based disposable medical devices due to the presence of major players in the North American region also support the market growth.

The major players in the disposable medical device sensors market are Abbott (US), F. Hoffmann-La Roche Ltd. (Switzerland), Medtronic (Ireland), Texas Instrument (US), Platinum Equity Advisors LLC (US), NXP Semiconductors (Netherlands), General Electric Company (US), TE Connectivity (Switzerland), STMicroelectronics (Switzerland), Honeywell International Inc. (US), Analog Devices, Inc. (US), Smiths Group Plc (UK), and  Koninklijke Philips N.V. (Netherlands)
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The study involved four major activities in estimating the current size of the disposable medical device sensors market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.
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