The advent of disposable sensors and biosensors has played a vital role in the evolution of sensors in healthcare. Hence, the disposable medical sensors are a preferred option among patients and healthcare professionals for easy detection of diseases.
Portland, OR -- (SBWIRE) -- 10/02/2017 -- Disposable medical sensors are used in healthcare sector as pressure detectors, temperature sensors, image sensors, and others. These sensors aid in accurate monitoring, treatment, and diagnosis of a disease. The global Disposable Medical Sensor Market was valued at $4,823 million in 2016, and is projected to reach $9,700 million by 2023, growing at a CAGR of 10.2% from 2017 to 2023. The biosensor segment accounted for nearly three sevenths share of the total market in 2016.
Rise in adoption of biosensors, growth in demand of disposable image and wearable sensors, introduction of implantable sensors for preclinical drug research, and technological advancements in sensors such as capsule endoscopes and ultrasonic imaging systems drive the global disposable medical sensor market. However, stringent government regulations and unfavorable reimbursement policies restrain the market growth.
The ingestible sensor segment of disposable medical sensor market by placement type is expected to register the highest CAGR of 11.0% throughout the forecast period. This is owing to the rise in the development of sophisticated sensors for the treatment of various diseases especially diabetes. In addition, many key players have undergone acquisitions and product development to cater to the demand for disposable medical sensor. The implantable sensor accounted for about two-ninths of the total share in 2016, and is anticipated to maintain this trend from 2017 to 2023.
Factors that accelerate the demand of disposable medical sensors are rise in adoption of biosensors, technological advancements in sensors such as capsule endoscopes and ultrasonic imaging systems, and introduction of implantable sensors for preclinical drug research. However, factors such as inadequate reimbursement policies hamper the market growth. The growth in prevalence of diabetes is anticipated to provide lucrative growth opportunities for the disposable medical sensors market growth.
Key Findings of the Disposable Medical Sensor Market:
- The image sensor is anticipated to grow at a highest rate during the analysis period.
- The U.S. was the major shareholder in the North America disposable medical sensor market, and accounted for the highest share in 2016.
- The pressure sensor occupied about one-eighth share of the total disposable medical sensor market in 2016 and is expected to grow at a CAGR of 10.9% from 2017-2023.
- China occupied two-ninth share of the total Asia-Pacific disposable medical sensor market in 2016, registering a high CAGR of 13.1% from 2017 to 2023.
- The strip sensor segment dominated the market in 2016, growing at a CAGR of 9.6% from 2017 to 2023.
- The home care segment accounted for the two-fifth share in end user market for disposable medical sensors in 2016.
Click to get Sample!
Limited Period Offer! Get 20% discount on this report