Global Medical Sensors Market
2019-02-12 12 Business
Global Medical Sensors Market is expected to grow from USD 11.44 Billion in 2017 to USD 23.57Billion by 2026, at a CAGR of 7.5% between 2017 and 2026.
Increasing prevalence of chronic diseases, rapidly rising technological advancements, rise in the advancements of wearable and disease detecting devices, increasing demand for sensors in clinics as well as in the home applications, growing demand for constant patient monitoring and diagnosis, and introduction of implantable sensors for preclinical drug research are the major driving factors for the growth of medical sensors market. However, inadequate reimbursement policies is a key restraining factor for the market growth. Further key findings from the report: • From the application, segment monitoring is expected to lead the application segment of medical sensors market. Increasing deployment of home healthcare-based medical devices has enabled patients with the ability to self-diagnose and monitor long-term illnesses using these products, advancing technology, and increasing need for better monitoring devices, further driving the growth of monitoring application segment • Medical sensor market for Electrocardiogram (ECG) sensors is anticipated to account for the largest share of the overall medical sensors market during the forecast period. Focus on manufacturing portable ECG sensors, which are used in the cardiac treatment and different products, by key market players is the major factor driving the market growth • However, Biosensors segment is anticipated to witness highest CAGR between 2016 and 2026 owing to the rising need of compatible medical devices and rising demand for rapid and accurate diagnostic kit. Portable blood glucose monitors are expected to experience a highest growth rate in this segment • Among geographical regions, APAC is anticipated to witness higher CAGR during 2017 and 2026. Increasing patients with respiratory and cardiovascular diseases, encouraging healthcare reimbursements, and increased awareness among people are the major factors driving the growth of medical sensors market in this region Key Highlights: • Analyzes competitive developments such as contracts, joint ventures, mergers & acquisitions, collaborations, product launches & developments, and research and development (R&D) in the Medical Sensors Market • The objective of the report is to provide a detailed analysis of the Medical Sensors Market on the basis of sensor type, sensor placement, application, and geography • Complete quantitative analysis of the industry from 2017 to 2026 to enable the stakeholders to capitalize on the prevailing market opportunities • In-depth analysis of the industry on the basis of market segments, market dynamics, market size, competition & companies involved value chain • Analysis of the Medical Sensors Market with respect to individual growth trends, prospects, and contribution to the total market • Segment wise business performance detailed in report will be worthwhile for the organizations willing to enhance its business • Provides detailed information regarding the major factors influencing the growth of the Medical Sensors Market (drivers, restraints, opportunities, and challenges) • This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business
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