Medical device manufacturers are constantly striving to improve their products in terms of safety, convenience, and, most importantly, sterility. In response to the demand for sterility, disposable medical devices were developed. New sensor technology that detects and records changes in electrical properties aided in the development of disposable medical sensors. Disposable medical sensors can help with diagnosis, treatment, and patient monitoring. During surgery, for example, a disposable blood pressure sensor is used to continuously monitor a patient's blood pressure. These sensors are linked to a monitor that displays vital patient data. These sensors are also used in intensive care units, though they must be replaced every 24 hours. From 2021 to 2028, the global market for disposable medical sensors is expected to grow at a compound annual growth rate (CAGR) of 7.9%, rising from US$ 6.0 billion in 2020 to US$ 11.0 billion in 2028. The rising prevalence of chronic diseases such as cancer, cardiovascular disease, diabetes, and others is a major driver of market growth. Rigid regulations and reimbursement policies for MEMS-based sensors, on the other hand, may stifle market growth throughout the forecast period.
In 2021, biosensors held the largest share of the global disposable medical device sensors market.
In 2020, the biosensors category was the most popular. This category has a sizable market share due to the widespread use of these sensors in diabetes test strips, infectious disease test strips, pregnancy test strips, drug, and alcohol test strips, and continuous blood glucose monitoring.
In 2021, the strip sensors category held the largest market share.
In 2021, the strip sensors category held the largest market share. The widespread use of glucose test strips and infectious disease test strips, as well as the rising global incidence of diabetes and other infectious diseases, could account for a significant portion of this industry. The widespread use of these sensors in diagnostic applications contributes to the market growth due to several advantages such as cost-effectiveness, ease of use, non-infectious nature, and faster results.
Key Players in the Disposable Medical Sensors Market
Some of the market's prominent competitors include Abbott, Amphenol Corporation, Analog Devices, Inc., CONMED Corporation, Endress+Hauser Group Services AG, F. Hoffmann-La Roche Ltd., GE Healthcare, Gentag, Inc., Honeywell International Inc., Koninklijke Philips N.V., LifeScan Inc., Medical Sensors India Pvt. Ltd., Medtronic, Nuova GmbH, NXP Semiconductors, Platinum Equity Advisors LLC, Sensirion AG, Shenzhen Med-Link Electronics Tech Co., Ltd., Smiths Group Plc, Starboard Medical, Inc., Stellar Technology Inc., STMicroelectronics, TE Connectivity, Texas Instrument, VitalConnect, Will Semiconductor Co., Ltd. For example, Abbott received FDA Emergency Use Authorization (EUA) in 2021 for the non-prescription, over-the-counter use of their BinaxNOW COVID-19 AG self-test for the detection of COVID-19 infections. In 2020, the FDA will approve Medtronic's MiniMed 770G hybrid closed loop system. The system is comprised of the Guardian Sensor 3 and the MiniMed Mobile software.
Disposable Medical Sensors Market - Scope of the Report
About Us:
Dhirtek Business Research & Consulting Pvt Ltd is a global market research and consulting services provider headquartered in India. We offer syndicated research reports, customized research reports, and consulting services to our customers. Our objective is to enable our clientele to achieve transformational progress and help them to make better strategic business decisions and enhance their global presence.
We serve numerous companies around the world, mobilizing our seasoned workforce to help companies shape their development through proper channeling and execution. We offer our services to large enterprises, start-ups, non-profit organizations, universities, and government agencies. The renowned institutions of various countries and Fortune 500 businesses use our market research services to understand the business environment at the global, regional, and country levels. Our market research reports offer thousands of statistical information and analysis of various industries at a granular level.
Contact:
Sales Team
Dhirtek Business Research and Consulting Private Limited
Email Id: sales@dhirtekbusinessresearch.com
Contact Number: +91 7580990088