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Disposable Medical Devices Sensors Market Worth 6,212.7 Million by 2018

The disposable medical devices sensors market is segmented on the basis of product type, sensor type, application, and geography.

 
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Dallas, TX -- (SBWIRE) -- 02/06/2014 -- The “Disposable Medical Devices Sensors Market - By Type [Biosensor, Image sensor, Accelerometer] Monitoring[Smart Pill, Pulse Oximeter] Diagnostic[Capsule Endoscope, Blood Glucose Strip] Therapeutic[Insulin pump, Dialysis]- Global Forecast to 2018”, analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia, and Rest of the World.

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This report studies the global disposable devices sensors market over the forecast period of 2013-2018. The market is valued at an estimated $3,831.6 million in 2013 and is poised to grow at a CAGR of 10.1% from 2013 to 2018, to reach $6,212.7 million by 2018.

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The biosensors market accounts for the largest share of the global disposable devices sensors market. Biosensors are widely used in diagnostic applications for detecting blood glucose level, pregnancy, drug or alcohol consumption, HIV, and many other parameters. The extensive use of enzyme based sensors in home healthcare and point of care (POC) diagnostics is another reason for the large share of these sensors. The biosensors market showcases a huge growth potential, due to which various researches for development of new and advanced products are being carried out. For instance, in 2012, a fluorescent biosensor for the detection of vimentin serine phosphorylation was developed by researchers at the Tokyo University. Moreover, Piramal healthcare is also engaged in developing various low cost disposable devices biosensors, which will allow better diagnosis at low cost.

The smart pill sensors market is another segment which showcases a lucrative growth potential. Smart pill sensors include capsule endoscope sensors and patient monitoring smart pills. The cost effectiveness offered by capsule endoscopes is a major reason for their high growth. In addition, these pill sensors involve no sedation, are patient friendly, detect small pathologies, and also inform a patient regarding the time for the next medicine dose. All these factors are driving the growth of this market. Many prominent companies are investing and collaborating with each other for launching new products in this market. For instance, industry giants such as Oracle and Novartis together with Proteus, are developing new smart pill sensors for better patient monitoring and diagnosis. Furthermore, the FDA has lowered its regulatory bars for the launch of such products. All these factors have opened an array of opportunities for the smart pill sensors market to flourish in the coming years.

The major players in the market include Analog Devices, Inc. (U.S.), Covidien Plc (Ireland), Freescale Semiconductor, Inc. (U.S.), GE Healthcare (U.K.), Given Imaging (Israel), Honeywell International, Inc. (U.S.), Measurement Specialties (U.S.), Medtronic (U.S.), Philips Healthcare (The Netherlands), Smiths Medical (U.S.), ST Microelectronics (Switzerland), and Sensirion AG (Switzerland), among others.

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