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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Sensors are devices that detect physical, chemical, and biological signals and provide a way for those signals to be measured and recorded. Sensors offer the ability to monitor and track Medical conditions.

Statistics:

The global Medical sensors market is estimated to account for US$ 25,635.3 Mn in terms of value by the end of 2027.

Global Medical Sensors Market: Drivers

Increasing prevalence of chronic diseases is expected to propel growth of the global Medical sensors market over the forecast period. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.

Moreover, increasing in geriatric population is also expected to boost adoption of Medical sensors. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.   

Statistics:

North America held dominant position in the global Medical sensors market in 2019, accounting for 36.5% share in terms of value, followed by Europe and Asia Pacific, respectively.

Figure 1: Global Medical Sensors Market Share (%) Value, By Region, 2019

Medical Sensors  | Coherent Market Insights

Global Medical Sensors Market: Restraints

Stringent regulatory procedures are expected to hinder growth of the global Medical sensors market. Rigorous clinical trials and clearance of the MEMS product before reaching the market requires huge capital investments and large spending capacities to bear the sunk costs, if the product fails during the clinical trial. In addition, gaining market acceptance for new products takes a long time and entails heavy costs for the manufacturer.

Moreover, inadequate re-imbursement for new technologies is also expected to limit the market growth. Despite receiving approvals from the FDA and CE, manufacturers face restraints in terms of inadequately laid out reimbursement policies from insurance providers such as Medicare and Medicaid.

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Medical Sensors Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 15,543.4 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 6.5% 2027 Value Projection: US$ 25,635.3 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., France, Spain, Italy, Russia, Rest of Europe
  • Asia Pacific: China, Japan, India, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, Rest of Middle East
  • Africa: North Africa, Central Africa, South Africa
Segments covered:
  • By Product Type: Biosensors, Temperature sensors, Image sensors, Accelerometers, Pressure sensors, Flow (air and fluid) sensors, SQUID, Others (chemical, position, level, force).
  • By Application: Surgical Applications, Diagnostic, Therapeutic Applications, Monitoring Applications.
Companies covered:

Medtronic Plc, Koninklijke Philips N.V., GE Healthcare, FreeScale Semiconductors, Omnivision Technologies, Inc., Smiths Medical, Analog Devices, Inc., Honeywell International, Inc., Broadcom Limited, Danaher Corp., LORD Corporation, OSI Systems, Inc., Avago Technologies Limited, Measurement Specialties, Micro-Epsilon Messtechnik, Amphenol Advanced Sensors, and Sensirion AG

Growth Drivers:
  • Increasing prevalence of cancer
  • Approval and launch of new products
Restraints & Challenges:
  • Stringent Regulatory Guidelines

Global Medical Sensors Market: Opportunities 

R&D in Medical sensors is expected to offer lucrative growth opportunities for players in the global Medical sensors market. For instance, in April 2020, researchers from the U.S. Naval Research Laboratory, demonstrated the viability of using ultra-thin sheets of microbially grown nanocellulose to build functional Medical sensors.

Moreover, several advantages of disposable and non-disposable Medical sensors are also expected to aid in growth of the market. 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 reduction of cost of the systems. However, unfavorable reimbursement policies for Medical devices integrated with disposable sensors are expected to hinder the market growth.

Statistics:

The global Medical sensors market was valued at US$ 15,543.4 Mn in 2019 and is forecast to reach a value of US$ 25,635.3 Mn by 2027 at a CAGR of 6.5% between 2020 and 2027.

Figure 2: Global Medical Sensors Market Value (US$ Mn), 2016 – 2027

Medical Sensors  | Coherent Market Insights

Market Trends/Key Takeaways

Major players in the market are focused on offering solutions to develop rapid test device for COVID-19. For instance, in August 2020, Ams, a supplier of high performance sensor solutions, provided the latest sensor technology to Midge Medical, a Germany-based Medical technology startup, to develop a disruptive technology for science-backed rapid genetic and blood testing in a home and professional healthcare environment at a lower cost.

R&D in Medical sensors is expected to propel growth of the global Medical sensors market. For instance, in July 2020, researchers at University of Minnesota announced development of a new technique that allows the 3D printing of hydrogel-based sensors directly on to organs such as the lungs.

Global Medical Sensors Market: Competitive Landscape

Major players operating in the global 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., Broadcom Limited, Danaher Corp., LORD Corporation, OSI Systems, Inc., Avago Technologies Limited, Measurement Specialties, Micro-Epsilon Messtechnik, Amphenol Advanced Sensors, and Sensirion AG.

Global Medical Sensors Market: Key Developments

Major players in the global Medical sensors market are focused on adopting partnership strategies to expand their product portfolio. For instance, in July 2020, Amphenol Advanced Sensors partnered with Andhra Pradesh MedTech Zone Ltd. to develop Medical grade sensors and sub-assemblies and power electronics.

Medical Sensors encompasses the combination of molecular biology and cytogenetics. It enables to differentiate normal and cancer causing cells. Medical Sensors helps to study the structural and functional organization of chromosomes and its nucleus, genomic variations, expression and evolution, and chromosomal abnormalities in medicinal and cancer-related genetics. High prevalence of cancer and increasing application of molecular biology in detection of inherited susceptibilities associated with cancer development is expected to boost the Medical Sensors market growth.

Key features of the study:

  • This report provides in-depth analysis of the Global Medical Sensors market  and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2020–2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategy adopted by key players
  • It profiles key players in the Global Medical Sensors market  based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include, Medtronic Plc, Koninklijke Philips N.V., GE Healthcare, FreeScale Semiconductors, Omnivision Technologies, Inc., Smiths Medical, Analog Devices, Inc., Honeywell International, Inc., Broadcom Limited, Danaher Corp., LORD Corporation, OSI Systems, Inc., Avago Technologies Limited, Measurement Specialties, Micro-Epsilon Messtechnik, Amphenol Advanced Sensors, and Sensirion AG
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The Global Medical Sensors market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Global Medical Sensors market

Detailed Segmentation:

  • Global Medical Sensors Market, By Product Type:
    • Biosensors
    • Temperature sensors
    • Image sensors
    • Accelerometers
    • Pressure sensors
    • Flow (air and fluid) sensors
    • SQUID
    • Others (chemical, position, level, force)
  • Global Medical Sensors Market, By Application:
    • Surgical Applications
    • Diagnostic
    • Therapeutic Applications
    • Monitoring Applications
  • Global Medical Sensors Market, By Region:
    • North America
      • By Product Type:
        • Biosensors
        • Temperature sensors
        • Image sensors
        • Accelerometers
        • Pressure sensors
        • Flow (air and fluid) sensors
        • SQUID
        • Others (chemical, position, level, force)
      • By Application
        • Surgical Applications
        • Diagnostic
        • Therapeutic Applications
        • Monitoring Applications
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Product Type:
        • Biosensors
        • Temperature sensors
        • Image sensors
        • Accelerometers
        • Pressure sensors
        • Flow (air and fluid) sensors
        • SQUID
        • Others (chemical, position, level, force)
      • By Application
        • Surgical Applications
        • Diagnostic
        • Therapeutic Applications
        • Monitoring Applications
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Product Type:
        • Biosensors
        • Temperature sensors
        • Image sensors
        • Accelerometers
        • Pressure sensors
        • Flow (air and fluid) sensors
        • SQUID
        • Others (chemical, position, level, force)
      • By Application
        • Surgical Applications
        • Diagnostic
        • Therapeutic Applications
        • Monitoring Applications
      • By Country
        • U.K.
        • Germany
        • France
        • Spain
        • Italy
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Product Type:
        • Biosensors
        • Temperature sensors
        • Image sensors
        • Accelerometers
        • Pressure sensors
        • Flow (air and fluid) sensors
        • SQUID
        • Others (chemical, position, level, force)
      • By Application
        • Surgical Applications
        • Diagnostic
        • Therapeutic Applications
        • Monitoring Applications
      • By Country
        • China
        • Japan
        • India
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Product Type:
        • Biosensors
        • Temperature sensors
        • Image sensors
        • Accelerometers
        • Pressure sensors
        • Flow (air and fluid) sensors
        • SQUID
        • Others (chemical, position, level, force)
      • By Application
        • Surgical Applications
        • Diagnostic
        • Therapeutic Applications
        • Monitoring Applications
      • By Country
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • By Product Type:
        • Biosensors
        • Temperature sensors
        • Image sensors
        • Accelerometers
        • Pressure sensors
        • Flow (air and fluid) sensors
        • SQUID
        • Others (chemical, position, level, force)
      • By Application
        • Surgical Applications
        • Diagnostic
        • Therapeutic Applications
        • Monitoring Applications
      • By Country
        • North Africa
        • Central Africa
        • South Africa
  • Company Profiles
    • Medtronic Plc *
      • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Overview
      • Strategies
    • Koninklijke Philips N.V.
    • GE Healthcare
    • FreeScale Semiconductors
    • Omnivision Technologies, Inc.
    • Smiths Medical
    • Analog Devices, Inc.
    • Honeywell International, Inc.
    • Broadcom Limited
    • Danaher Corp.
    • LORD Corporation
    • OSI Systems, Inc.
    • Avago Technologies Limited
    • Measurement Specialties
    • Micro-Epsilon Messtechnik
    • Amphenol Advanced Sensors
    • Sensirion AG
  •  “*” marked represents similar segmentation in other categories in the respective section.

 Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Application
      • Market Snippet, By Country
      • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Highlights
    • Product launch
    • PEST Analysis
    • Technological Advancements
    • Regulatory Scenario
    • Mergers and Acquisitions
  4. Global Medical Sensors Market, By Product Type, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Biosensors
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Temperature sensors
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Image sensors
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Accelerometers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Pressure sensors
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Flow (air and fluid) sensors
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Others (chemical, position, level, force)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  5. Global Medical Sensors Market, By Application, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Surgical Applications
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Diagnostic
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Therapeutic Applications
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Monitoring Applications
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  6. Global Medical Sensors Market, By Region, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, By Region, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2026
    • North America
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • U.S.
        • Canada
    • Latin America
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Germany
        • U.K.
        • France
        • Spain
        • Italy
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • China
        • Japan
        • India
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • North Africa
        • Central Africa
        • South Africa
  7. Competitive Landscape
    • Company Profiles
      • Medtronic Plc
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Koninklijke Philips N.V.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • GE Healthcare
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • FreeScale Semiconductors
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Omnivision Technologies, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Smiths Medical
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Analog Devices Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Honeywell International, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Broadcom Limited
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Danaher Corp.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • LORD Corporation
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • OSI Systems, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Avago Technologies Limited
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Measurement Specialties
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Micro-Epsilon Messtechnik
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Amphenol Advanced Sensors
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Sensirion AG
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 22 market data tables and 14 figures on “Medical Sensors Market - Global forecast to 2027”.

Frequently Asked Questions

The Global Medical Sensors market size was valued at US$ 15,543.4 million in 2019 and is estimated to exhibit a CAGR of 6.5% between 2020 and 2027.
Biosensors segment held the major market share in 2019 owing to an increasing prevalence of chronic disorders is expected to propel growth of the market
Major factor driving the growth of Global Medical Sensors market during the forecast period increasing prevalence of chronic disorders, increasing research & development , and adoption of expansion strategies from major companies.
Major factors hampering the growth of the Global Medical Sensors market during the forecast period constitutes of stringent regulatory policies
North America market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are Medtronic Plc, Koninklijke Philips N.V., GE Healthcare, FreeScale Semiconductors, Omnivision Technologies, Inc., Smiths Medical, Analog Devices, Inc., Honeywell International, Inc., Broadcom Limited, Danaher Corp., LORD Corporation, OSI Systems, Inc., Avago Technologies Limited, Measurement Specialties, Micro-Epsilon Messtechnik, Amphenol Advanced Sensors, and Sensirion AG
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