Diagnostic And Imaging Sensors Are The Leading Segment Of The Medical Sensors Market
Medical sensors are electronic devices that detect and measure physiological data to aid in the monitoring, diagnosis and treatment of health conditions in humans. Physiological data include heart rate, blood pressure or body temperature. The medical sensors market is segment by type into diagnostic and imaging sensors, monitoring sensors, and therapeutic sensors. Of these segments, the global diagnostics and imaging sensors market was the largest in the global medical sensors market, with 47.5% of the total share, worth $6.2 billion in 2018. This large share in the market can be attributed to high price of diagnostic and imaging sensors used in MRI, CT scan, endoscopes and other equipment. Additionally, high penetration of these equipment in many developed and developing countries contributes to its share in the market.
Diagnostic sensors identify and investigate the causes of diseases or disorders. Image sensors detect and convey information used to form an image. These sensors capture internal images of patients’ body and examine various medical conditions. These sensors are used in radiography, mammography, dental imaging, endoscopy and external observation of patients.
The monitoring sensors market was the second largest segment in the global medical sensors market, with more than 30% of the total share in 2018. This can be attributed to widespread use of sensors to monitor medical conditions such as diabetes, cardiac and respiratory diseases, especially in geriatric population. Also, increased use of monitoring sensors in continuous and remote patient monitoring systems contributed to the market share. Monitoring sensors observe and check the progress of physiological parameters such as heart rate, blood pressure or temperature and send this information to the patient and healthcare provider.
According to a market size gain analysis, the diagnostics and imaging sensors segment will also be the segment offering significant business opportunities for players up to 2023, putting on the most value at $3.47 billion.
Medical sensor manufacturing companies are collaborating and partnering with medical devices companies and research universities to develop new products with sensors for diagnosis and treatment. For example, in 2018, LEO Science & Tech Hub, a unit of Danish LEO Pharma, collaborated with US-based skin sensors developer, Epicore Biosystems, to investigate a non-invasive, wearable sweat sensor. The partners will explore the use of the sweat sensor with real-time identification of skin hydration and disease-specific biomarker responses to enable personalized treatments for patients. A biomarker is a measurable indicator of the severity or presence of some disease state.
The fastest growing segment of the global medical sensors market will be the therapeutics sensors market, growing at an annual rate of nearly 11% between 2018 and 2023. This can be attributed to the demand for blood glucose sensors due to increasing prevalence of diabetes, especially in developing countries such as China and India. Therapeutic sensors detect and analyze patient’s parameters and activate drug delivery based on the information.