Disposable Medical Sensors Market Set to Experience Revolutionary Growth During 2019-2026 : Medtronic Plc, Koninklijke Philips N.V., GE Healthcare

Seattle, WA -- (SBWire) -- 10/07/2019 --The disposable medical sensor is devices used for patient diagnostics, therapeutics, scanning, and monitoring. They are portable, compact, and handheld component and are integrated with various medical devices which are used for remote patients monitoring and on-site patient observation across healthcare sectors such as clinics, hospitals, and ambulatory surgical centers. Disposable sensor play very important role in maintaining sterility of the medical devices hence they reduce the risk of hygiene and offer safe solutions to the patients. Disposable medical sensor also plays a vital role in the measurement of breathing rate, heart rate, pulse rate, temperature, blood oxygenation level, and others.

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Moreover, these sensors are also used across various other medical specialties such as radiology, cardiology, neurology, ophthalmology, urology, and others. Furthermore, these sensors are also used across diagnostic devices and disposable test strips that identify certain microbial strains such as bacteria, fungi, and viruses in the detection of infectious diseases.

Market Dynamics:

Growing incidence of chronic disease across the globe demands faster and efficient diagnostics, patient monitoring, therapeutics is presumed to fuel the market growth of disposable medical sensors. Cardiovascular diseases, diabetes, cancer, strokes, chronic obstructive pulmonary diseases, and obesity are some of the most commonly reported chronic diseases. According to the World Health Organization (WHO) 2017, the global prevalence of cancer has risen from 4.7% of the total world population in 1980 to 8.5% in 2014, which accounted for nearly 422 million patients suffering from the disease in 2014.

Moreover, the WHO also states that the Global Burden Disease Study reports a prevalence of 251 million patients suffering from chronic obstructive pulmonary diseases (COPD) in 2016. Growing demand for patient monitoring and diagnostic devices for the treatment of chronic disease is projected to augment the market growth over the forecast period. Moreover, the advent of advanced micro-technologies such as microfluidic chips, medical MEMS, and lab-on-a-chip technologies are further presumed to propel the market growth. For instance, according to a research article published in MEMS Journal 2018, disposable and non-disposable medical sensors are advantageous in miniaturizing components and systems of MEMS and also helps in the reduction of cost of the systems. On the other hand, unfavorable reimbursement policies for medical devices integrated with disposable sensors are assumed to hamper market growth.

Regional Insights:

Based on the region, the global disposable medical sensors market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Out of which, North America is dominating the overall market and is projected to maintain dominance over the forecast timeframe. This can be attributed to the ongoing development of advanced technological devices integrated with disposable medical sensor along with the penetration of new entrants in the region. For instance, True Wearables, Inc., a medical device start-up based in California, introduced Oxxiom, world's first wireless, continuous and fully disposable single pulse oximeter in January 2016 that measures arterial oxygen saturation, perfusion index, and pulse rates. Moreover, the growing prevalence of patients suffering from chronic disease such as Type-1 diabetes which demands regular monitoring of blood glucose levels are further projected to propel regional market growth.

At the same time, Asia Pacific is expected to witness significant growth in the market, and this can be attributed to the growing expenditure in healthcare infrastructure, rising awareness regarding the devices, and growing incidence of chronic diseases. For instance, the National Health Survey conducted by the Australian Government Department of Health, in 2015, suggested that nearly 23% of Australians aged above 60 years suffer from one or more chronic diseases.

Competitive Insights:

Key players operating in the global disposable medical sensors market include Medtronic Plc, Koninklijke Philips N.V., GE Healthcare, Freescale Semiconductors, Omnivision Technologies, Inc., Smiths Medical, Analog Devices, Inc., Honeywell International, Inc., and others. Market players are focused on providing technologically advanced products to sustain their presence in the market. For instance, in October 2014, Sensirion AG introduced a disposable liquid flow sensor solution for medical devices that provides a compact and cost-effective solution for safer and reliable automatic drug delivery at hospitals and home-based settings.

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Market Segmentation:

By Sensor Type:
- Biosensors
- Pressure Sensors
- Accelerometer Sensors
- Temperature Sensors
- Image Sensors
- Others

By Placement Type:
- Strip Sensors
- Wearable Sensors
- Implantable Sensors
- Invasive Sensors
- Ingestible Sensors

By Application:
- Diagnostics
- Therapeutics
- Patient Monitoring

By Geography:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa

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