What is the Historic and Current Scenario of the Disposable Medical Devices Sensors Market?
The disposable medical devices sensors market has seen considerable growth due to a variety of factors.
• The market size for disposable medical devices sensors has seen a robust expansion in the previous years. Its value is projected to increase from $8.93 billion in 2024 to $9.72 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 8.9%. The growth witnessed in the historic period can be linked to factors such as the rise in chronic diseases, strict regulatory norms, patient's inclination towards home healthcare, emphasis on infection control, initiatives in remote patient monitoring, improvements in point-of-care testing, heightened awareness about preventive healthcare, the worldwide reach of healthcare and incorporation in smart implants.
What Is The Expected Growth In The Disposable Medical Devices Sensors Market?
The Disposable Medical Devices Sensors market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, we are set to witness a swift expansion in the market size of disposable medical devices sensors, which is anticipated to reach $15 billion by 2029, recording a compound annual growth rate (CAGR) of 11.5%.
This market growth during the forecast period can be linked to factors including the rise in telehealth services, incorporation into digital health platforms, a focus on non-invasive monitoring, advancements in flexible electronics, increased attention to neonatal care, use in smart bandages, improved healthcare connectivity, and a focus on cost-effective healthcare solutions. Future trends in this period will feature wearable health technology, sensor technology advancements, smart inhalers and respiratory monitoring, the usage of artificial intelligence (AI), remote monitoring of vital signs, continuous glucose monitoring (CGM) systems, and biosensor technologies.
What Main Forces Are Fueling Expansion In The Disposable Medical Devices Sensors Market?
The growth of the disposable medical device sensors market is anticipated to be fueled by the increasing prevalence of chronic diseases. Chronic diseases are those that persist for a year or longer, requiring consistent medical care or they may interfere with daily activities. Disposable medical device sensors play a crucial role in diagnosing, treating, and monitoring these chronic illnesses, thereby propelling the market growth. As reported in September 2022 by the World Health Organization (WHO), a United Nations agency for global public health, non-communicable diseases (NCDs) contribute to 41 million deaths each year, approximately 74% of total global deaths. Among these NCD deaths, cardiovascular diseases top the list, causing 17.9 million fatalities annually. Hence, the escalating rate of chronic diseases will promote the expansion of the disposable medical device sensors market.
What Are The Primary Segments In The Global Disposable Medical Devices Sensors Market?
The disposable medical devices sensors market covered in this report is segmented –
1) By Product Type: Biosensors, Temperature Sensors, Pressure Sensors, Accelerometers, Image Sensors, Consumables
2) By Application: Patient Monitoring, Diagnostics, Therapeutics
Subsegments:
1) By Biosensors: Glucose Biosensors, Enzymatic Biosensors, Immunosensors
2) By Temperature Sensors: Thermocouples, Thermistors, Infrared Sensors
3) By Pressure Sensors: Piezoelectric Pressure Sensors, Capacitive Pressure Sensors, Strain Gauge Pressure Sensors
4) By Accelerometers: MEMS Accelerometers, Capacitive Accelerometers
5) By Image Sensors: CMOS Image Sensors, CCD Image Sensors
6) By Consumables: Calibration Solutions, Test Strips, Sensor Adhesives
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Which Key Trends Are Driving Changes In The Disposable Medical Devices Sensors Market?
Cutting-edge advancements in sensor technology are becoming a major trend in the disposable medical devices sensors market. Many prominent companies in this sector are turning their attention to the development of pioneering technologies, including novel monitoring techniques. This is to gain a competitive advantage in the marketplace. For instance, in June 2022, the American medical device corporation, Medtronic PLC, presented the latest European and Chilean data, along with clinical data on its MiniMed 780G system that features advanced Guardian Sensor 3 for insulin administration at the 82nd Scientific Sessions of the American Diabetes Association (ADA). The data demonstrated an enhanced user experience with the Guardian Sensor 3, which uses SmartGuard Technology. This technology allows for various degrees of automation, adapting to different lifestyles. The Guardian Sensor 3 could also be used as a component of the MiniMed 780G system by individuals aged 7 and over, living with Type 1 diabetes, who require a daily insulin dose of 8 units or more.
Who Are the Key Players In The Disposable Medical Devices Sensors Market?
Major companies operating in the disposable medical devices sensors market include:
• Medtronic PLC
• STMicroelectronics NV
• Honeywell International Inc.
• TE Connectivity PLC
• GE HealthCare Technologies Inc.
• NXP Semiconductors NV
• Analog Devices Inc.
• Omnivision Technologies Inc.
• Qualcomm Technologies Inc.
• Renesas Electronics Corporation
• Texas Instruments Incorporated
• Sensirion AG
• Koninklijke Philips N.V.
• JantPharmacal
• Gentag Inc.
• LifeScan Inc.
• Olympus Corporation
• F. Hoffmann-La Roche AG
• Hmicro Inc.
• First Sensor AG
• Medical Sensors India Pvt. Ltd.
• Starboard Medical Inc.
What Is The Most Dominant Region In The Disposable Medical Devices Sensors Market?
North America was the largest region in the disposable medical devices sensors market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the disposable medical devices sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
