The disposal medical device sensor is a compact, handy and portable scanning device that is used in various medical devices mainly for patient monitoring, diagnostics or therapeutics. These sensors play a significant role in monitoring heart rates, breathing rates, temperature, pulse transmit time, blood oxygen level, etc and are widely used in neurology, radiology, general medicine, ophthalmology, cardiology and others. The sensors are placed in diagnostic devices to find out the infectious diseases caused by microbial strains like bacteria, virus and fungi. The disposal medical device sensor helps in maintaining the sterility of medical devices that automatically reduces the risk of hygiene.
The global disposal medical device market stood at USD 6.5 billion in 2021 and is likely to reach USD 9.4 billion by the end of 2026 by registering a CAGR of 7.7 % during the forecast period, 2020-2026. The major factors for the growing demand of the market are due to home-based medical care devices and technological advancement made in the sector. The device sensors are considered cost effective and are utilized by a major percentage of people for remote patient monitoring and observing patients on-site in clinics, healthcare facilities, etc. The investment made in research and development for introducing new equipment and supplies has increased. Technological advancements such as Micro-Electro-Mechanical System (MEMS) sensor and fiber optic technology and advancements made in micro-technology such as lab-on-chips technologies, microfluid, etc fuels the growth of the market.
The leading causes of death & disability worldwide are chronic diseases. Disease rates are accelerating globally from these circumstances, progressing through every field and pervading all socio-economics classes, which is estimated to boost the market. Chronic diseases can lead to hospitalization, long-term injury, diminished quality of life, and death, including cancer, hypertension, stroke, diabetes, heart disease, respiratory diseases, asthma, obesity, and oral diseases. Moreover, there is rising incidence of Hospital Acquired Infections (HAIs) and Nosocomical Infections (NI) that can be fatal. All these factors are directly related to the increasing demand of disposal medical device sensor market.
In emerging and developed countries, the advent of COVID-19 has recently had a significant effect on healthcare. In various fields, the issue of health has a significant impact on corporations. According to the World Health Organization, about 10% of the overall global population of 7.8 billion was affected by the virus ten months after the COVID-19 pandemic. As a result of the COVID-19 crisis, demand for disposal medical device sensor market. Due to different mutant and waves of COVID-19, remote healthcare and contactless healthcare treating has been preferred in most of the cases. As the pandemic is still uncertain and the fear among people hasn’t dropped, the sales of home-based diagnostic devices like digital thermometer, blood pressure monitors, pulse oximeters has increased.
Based on the product, the global disposable medical device sensor market can be segmented into biosensor, image sensor, accelerometer, pressure sensors, temperature sensor, others. The biosensor segment witnesses the highest revenue in the market because of its wide usage in various test strips. The glucose biosensor is used in a large amount used for diagnosing diabetics and checking the glucose level. In 2018, US had around 34.2 million diabetic cases that accounts 10.5% of the population.
The temperature sensor segment has also seen some growth in the market due to the prevailing pandemic condition. As fever is considered as a common symptom of COVID-19, in order to check and record the change in body temperature, the market for temperature sensors has gone up.
Based on the type, the global medical disposal device sensor market can be segmented into strip sensor, wearable sensor, invasive sensor, ingestible sensor, implantable sensor, others. The strip sensor segment dominates the market for the forecasted period because of its usage in various diagnostic application like magnetic-nano particles, glucose monitoring, disease testing etc. And the increasing number of diabetic cases is the main factor for the growth of this segment.
The ingestible sensor segment has also increased its market share due to technological advancement. The sensor helps in monitoring the pH level, temperature and also notifies whether the concern person has taken the medicines or not.
Based on the application, the global medical disposal device sensor market can be segmented into patient monitoring, diagnostics, therapeutics, imaging devices, others. The diagnostics segment recorded the highest revenue in the market because of rising diseases across the world. The diagnostic tests like X-Rays, biopsies, CT scan, colonoscopy, positron emission tomography, etc helps the doctors in making clinical decisions. The patient monitoring segment has also increased its growth due to the development made in wireless health monitoring used for checking the heart rate, body temperature, etc.
Based on geography, the global disposal medical device sensor market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is slated to account for a significant share by 2027 in the global disposal medical device sensor market because of highly growing HAIs, Nis and chronic diseases in the region. Technological advancements and developing innovative products are the prime reason for the market growth in the region.
The Asia-Pacific market is anticipated to grow more revenue in the market by introducing new health reforms by the government. Healthcare sector is expected to grow more in the region where India stands second in the ranking for high quality scientific research.
Companies such as Johnson & Johnson, Sensirion, Given Imaging, Honeywell International, GE Healthcare, Gentag, NXP Semiconductor, TE Connectivity, Smiths Medical, Medtronic, Omni Vision Technologies, Jant Pharmacal Corporation, Measurement Specialties, Nuova GmbH are the key players in the global disposal medical device sensor market.