Global Disposable Medical Sensors Market, By Product (Biosensors, Accelerometers, Pressure Sensors, Temperature Sensors, Image sensors, and Others), By Placement of sensors (Strip Sensors, Wearable sensors, Implantable sensors, Invasive sensors, Ingestible sensors), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global disposable medical sensors market was valued US$ 7.7 Bn at the end of 2020 and expected to reach at a value of US$ 16.7 Bn by 2028 with a significant CAGR of 10.1%.
The healthcare sector utilizes several different disposable medical devices and apparatuses majorly designed for temporary or one-time use, such as syringes, hypodermic needles, wraps and bandages, applicators, exam gowns, drug tests, exam gowns, gloves, face masks, surgical sponges and suction catheters.
The prime reason for developing disposable medical apparatus devices is to control hospital-acquired infections. When a medical device is used only a single time, it cannot transmit contagious agents to successive patients.
Similarly, the disposable medical sensors are the handheld compact medical device that helps in monitoring the vital signs and bodily functions of the patients. The rising count of chronic medical conditions among the masses, including diabetes and other infectious diseases, across the world, is majorly boosting the demand of disposable medical sensors in the healthcare sector. Owing to which, the global disposable medical sensors market is expected to grow substantially in the years to come.
Moreover, the disposable medical sensors further finds application in major surgeries in the intensive care units, which is also projected to propel the global disposable medical sensor industry growth in the near future.
However, the stringent regulatory approval proceedings supplemented with irregular and insufficient reimbursement for these medical devices is likely to hold the growth of the global disposable medical sensors market to the limits in the forthcoming future.
Nevertheless, the constant advancements in the medical science and the invariable innovations in the medical devices and apparatuses is still estimated to accelerate the demand of disposable medical sensors in the healthcare sector. Attributing to which, the global disposable medical sensors is anticipated to escalate rapidly over the forecast period.
By the same token, the enhanced government provisions with respect to R&D activities for the development of novel disposable medical devices as well as the improved investments by venture capital firms is further estimated to augment the growth of the global disposable medical sensors market in the coming years.
MMC Study identifies some of the key participating players in the disposable medical sensors market globally are Medtronic plc., GE Healthcare, Philips N.V., Smiths Medical, TE Connectivity, Freescale Semiconductors, Inc., Omnivision Technologies, Inc., STMicroelectronics, Analog Devices, Inc., and Honeywell International, Inc., among others.
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