Disposable Medical Device Sensors Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030
The Global Disposable Medical Device Sensors Market Size accounted for USD 6,193 Million in 2021 and is estimated to achieve a market size of USD 11,799 Million by 2030 growing at a CAGR of 7.6% from 2022 to 2030. The increased prevalence of chronic diseases, which is driving greater demand for rapid and effective diagnostics, treatments, and patient monitoring, is likely to fuel the disposable medical device sensors market growth. Furthermore, advances in micro-technologies like medical MEMS, microfluidic chips, and lab-on-a-chip advancements are likely to boost the disposable medical device sensors market value throughout the forecast period.
Disposable Medical Device Sensors Market Report Key Highlights
- Global disposable medical device sensors market revenue is expected to increase by USD 11,799 million by 2030, with a 7.6% CAGR from 2022 to 2030
- North America region leads with more than 36% disposable medical device sensors market share in 2021
- Asia-Pacific disposable medical device sensors market growth will record fastest CAGR from 2022 to 2030
- By Product, the biosensors segment has accounted market share of over 42.7% in 2021
- Among application, diagnostic testing devices segment engaged more than 33% of the total market share in 2021
- Increasing adoption of home-based medical care devices, fueled the disposable medical device sensors market size
Sensors are small preprogrammed devices that monitor or measure physical changes and record, advice and warn in critical situations. Disposable medical devices are small mobile devices used to diagnose and monitor physical properties for therapeutic purposes. These sensors are applicable in various therapeutic segments such as neurology, cardiovascular, oncology, radiology, ophthalmology, and proctology and are also used in various in-vitro and in-vivo clinical trials. Generally, these sensors are used to measure body vital parameters such as blood pressure, pulse rate, heartbeat, blood oxygen levels, blood glucose levels, blood cholesterol levels, and body temperature. These disposable sensors have many advantages as compared to an earlier traditional types of sensors. They are easy to handle, easy to insert into body cavities, low risk, accurate results, and low in cost. Advances in disposable medical device sensors can identify disease-causing microbes such as bacteria, viruses, and fungi. There are various types of sensors available in the market such as implantable sensors, invasive sensors, ingestible sensors, and topical sensors. Implantable sensors have a broad scope across the globe since they are most widely used in medical research. Invasive sensors are used to assess the chemical parameters inside the body by inserting a probe into a device that contains the sensor. Ingestible sensors available in the form of small pills are swallowed by patients to track the condition and functions of the various organs.
Global Disposable Medical Device Sensors Market Dynamics
Market Drivers
- Rising incidence of chronic illnesses
- Increasing adoption of home-based medical care equipments
- Emerge in the deployment of biosensors
- Advances in technology for the development of point-of-care medical sensors
Market Restraints
- Lack of awareness of new diagnostics innovations
- Inadequate reimbursement policies
Market Opportunities
- Advancement in technology in sensor devices
- Increasing public and private sector investments in the development of novel disposable medical devices sensors
Disposable Medical Device Sensors Market Report Coverage
| Market | Disposable Medical Device Sensors Market |
| Disposable Medical Device Sensors Market Size 2021 | USD 6,193 Million |
| Disposable Medical Device Sensors Market Forecast 2030 | USD 11,799 Million |
| Disposable Medical Device Sensors Market CAGR During 2022 - 2030 | 7.6% |
| Disposable Medical Device Sensors Market Analysis Period | 2018 - 2030 |
| Disposable Medical Device Sensors Market Base Year | 2021 |
| Disposable Medical Device Sensors Market Forecast Data | 2022 - 2030 |
| Segments Covered | By Product, By Type of Sensor, By Application, And By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | Medtronic PLC, Honeywell, JantPharmacal, STMicroelectronics, Gentag Inc., Lifescan Inc., Olympus Corporation, Freescale Semiconductor, F. Hoffmann-La Roche, Omnivision Technologies Inc, HmicroInc, Philips Healthcare, GE Healthcare, and Smiths Medical. |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
The increasing prevalence of chronic disorders such as cancer, cardiovascular diseases & diabetes, and other infectious diseases due to lifestyle changes and habituation of a luxury life has led to more hospital admissions which is the major factor to drive the market growth. Increased consumption of alcohol and tobacco products also leads to a high prevalence of chronic disorders. Technological advancements such as cancer tracking sensors, smart pills, micro-electro-mechanical systems, and optic fiber technology have accounted for market growth. Ease in the availability of smart devices and IoT things to measure various body vital parameters and the introduction of new devices with low cost would result in the growth of the market. Conducting awareness programs about the benefits of frequent health checkups and investments towards R&D fuel the market.
On the other hand, poor reimbursement policies, failures in devices, and stringent regulatory policies may restrain the market growth.
Covid-19 Impact on Global Disposable Medical Device Sensors Market:
COVID-19 has impacted millions worldwide due to the disease and economic downturn as nearly all countries around the world imposed forcible lockdowns and curfews to bring back the situation to normal. Barring the medical supplies and essential products industries, the rest all the industries have been greatly affected. The healthcare industry was also impacted due to disruptions in production and supply chain and expenditure has been increased to ensure safety measurements. The pandemic has surged the demand for disposable medical device sensors mainly due to the high usage of devices such as oximeters, blood pressure monitors, electric thermometers, etc. which saw a sudden boom in this period. Increasing awareness regarding COVID-19 symptoms and its management led to the growing demand for medical supplies; thereby driving the market for medical sensors.
Disposable Medical Device Sensors Market Segmentation
The global disposable medical device sensors market segmentation is based on product, type of sensor, application, and geography.
Disposable Medical Device Sensors Market By Product
- Biosensors
- Accelerometers
- Temperature Sensors
- Pressure Sensors
- Image sensors
According to a disposable medical device sensors industry analysis, the biosensors segment has the largest market share and is expected to keep this share during the forecast period. This growth is due to the increased detection of infectious illnesses and the desire for point-of-care diagnostics, which is widely used.
Disposable Medical Device Sensors Market By Type of Sensor
- Ingestible Sensors
- Strip Sensors
- Invasive Sensors
- Wearable Sensors
- Implantable Sensors
Based on the type of sensor, the strip sensors segment held the largest market share in 2021. This is due to strip-based devices are increasingly being used in diagnostic and therapeutic applications such as magnetic nanoparticles, glucose monitoring, and disease diagnostics. Furthermore, a large number of diabetic patients, which necessitates continuous glucose testing, is likely to keep the market share stable over the projection period.
Disposable Medical Device Sensors Market By Application
- Diagnostic Testing Devices
- Patient Monitoring Devices
- Therapeutic Devices
- Imaging Devices
According to a disposable medical device sensors market forecast, the patient monitoring device segment is expected to be the fastest-growing segment over the forecast period. The demand for medical sensors is growing as technology advances and there is a greater need for improved monitoring equipment. Furthermore, new developments in products are improving care quality.
Disposable Medical Device Sensors Market Regional Outlook
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa
- South Africa
- GCC Countries
- Rest of the Middle East & Africa (ME&A)
North America Leads; Asia-Pacific Records Fastest Growth For Disposable Medical Device Sensors Market
North America dominated the global disposable medical device sensors market over the forecast period. In Europe, the U.K., Germany, France, and Spain account for a considerable share of the disposable medical device sensors market after North America. The Asia-Pacific is also expected to have a high growth rate in the forecast period owing to the increased prevalence of chronic disease and patient pool. Striving medical tourism and improved healthcare infrastructures also contribute to the growth of the region.
Disposable Medical Device Sensors Market Players
Some of the top disposable medical device sensors market companies offered in the professional report includes Medtronic PLC, Honeywell, JantPharmacal, STMicroelectronics, Gentag Inc., Lifescan Inc., Olympus Corporation, Freescale Semiconductor, F. Hoffmann-La Roche, Omnivision Technologies Inc, HmicroInc, Philips Healthcare, GE Healthcare, and Smiths Medical.
Frequently Asked Questions
What is the size of global disposable medical device sensors market in 2021?
The estimated value of global disposable medical device sensors market in 2021 was accounted to be USD 6,193 Million.
What is the CAGR of global disposable medical device sensors market during forecast period of 2022 to 2030?
The projected CAGR disposable medical device sensors market during the analysis period of 2022 to 2030 is 7.6%.
Which are the key players operating in the market?
The prominent players of the global disposable medical device sensors market are Medtronic PLC, Honeywell, JantPharmacal, STMicroelectronics, Gentag Inc., Lifescan Inc., Olympus Corporation, Freescale Semiconductor, F. Hoffmann-La Roche, Omnivision Technologies Inc, HmicroInc, Philips Healthcare, GE Healthcare, and Smiths Medical.
Which region held the dominating position in the global disposable medical device sensors market?
North America held the dominating disposable medical device sensors during the analysis period of 2022 to 2030.
Which region registered the fastest growing CAGR for the forecast period of 2022 to 2030?
Asia-Pacific region exhibited fastest growing CAGR for disposable medical device sensors during the analysis period of 2022 to 2030.
What are the current trends and dynamics in the global disposable medical device sensors market?
Rising incidence of chronic illnesses, and increasing adoption of home-based medical care devices, drives the growth of global disposable medical device sensors market.
By type of sensor segment, which sub-segment held the maximum share?
Based on type of sensor, strip sensors segment is expected to hold the maximum share of the disposable medical device sensors market.
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