Medical Sensors Market By Type (Diagnostics And Imaging, Monitoring And Therapeutics), By Products (MRI and X-ray Equipment, Pacemakers And Defibrillators) and By Regions - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast to 2023.

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Medical Sensors Market Definition

The medical sensors market consists of sales of medical sensors such as strip sensors, wearable sensors, implantable sensors and ingestible sensors. Medical sensors are electronic devices that detect and measure physiological data to aid monitoring, diagnosis and treatment of health conditions in humans.

Medical Sensors Market Size

The global medical sensors market reached a value of nearly $13 billion in 2018, having grown at a compound annual growth rate (CAGR) of more than 9% since 2014.

Growth in the medical sensors market in the historic period resulted from the growth in emerging markets, aging population and rise in R&D funding for medical devices. Factors that negatively affected growth in the historic period were government regulations and accuracy of data provided by wearable devices.

Going forward, technological advances, changing lifestyles and research, diagnosis and treatment for cancer will drive growth. Reduction in free trade factor could hinder the growth of this market in the future.

Medical Sensors Market Drivers

The Key drivers of the medical sensors market include:

Rise in R&D Funding for Medical Devices - The market’s growth in the historic period was driven by the rise in funding for research and development of medical devices containing medical sensors. Research and development of medical devices is largely dependent on funding and grants. For instance, in 2017, Senseonics Holdings Inc., a medical technology company, raised $41 million to commercialize its Eversense continuous glucose monitoring system and to support research and development (R&D) for next-generation versions of the sensor. Similarly, in 2016, Endotronix, Inc., a developer of wireless and implantable pressure sensors, raised $32 million in series C round of financing.   These investments resulted in the development of medical sensors for a range of medical equipment and this drove the market in the historic period.

Medical Sensors Market Restraints

The key restraints on the medical sensors market include:

Government Regulations - Complex clinical and regulatory standards led to increased costs of product development and manufacturing for medical equipment including medical sensors. This coupled with the rise in complexity and volume of medical device approval submissions, increased the time taken to approve a medical device release to the market. For example, the FDA is requesting more clinical data to support claims, therefore increasing the time to process 510(k)s by over 55% over the last decade.  The loss of revenue due to delays in product release and additional costs incurred due to stringent approval processes limited the investments into development of new products, thereby affecting the medical sensors market during this period.

Medical Sensors Market Trends

Major trends influencing the medical sensors market include:

3D Printing of Medical Sensors - This technology is being used in the fabrication of medical sensors to reduce manufacturing costs and boost production efficiencies. 3D printing is the process of making three-dimensional solid objects from a digital image. 3D printing methods for medical sensors include micro-extrusion, inkjet, and laser-assisted printing. These technologies precisely control the spatial distribution and layer-by-layer assembly of materials used in the manufacturing of medical sensors. Major companies manufacturing medical sensors by using 3D printing technology are Zimmer and Peacock and 3D Bioprinting Solutions.

Medical Body Area Network (MBAN) To Monitor Physiological Parameters - Technological advances in electronics and wireless communications have enabled the development of small, intelligent and cost-effective medical sensor nodes. These nodes are strategically placed on a patient`s body to create a wireless medical body area network (MBAN). In some cases, sensors may be swallowed for short-term monitoring or placed in the body during surgery for monitoring physical parameters during and after the healing period. This network can continuously monitor various physiological signs and provide real-time feedback to the user and medical staff through SMS/e-mail. MBAN are particularly useful in large-scale in-field medical and behavioral studies and for patient monitoring.

Opportunities In The Medical Sensors Market

Opportunities – The top opportunities in the global medical sensors market will arise in the diagnostics and imaging segment which will gain $3.5 billion of global annual sales by 2023. The medical sensors market size will gain the most in the USA. Medical sensors market-trend-based strategies include investment in sensors for wearable devices, adopt 3D printing technology, and collaborate with other organizations in the market to accelerate research and development programs. Player-adopted strategies in the medical sensors industry include expansion through partnerships and collaborations and development of new products to expand product portfolio.

Medical Sensors Market Segmentation

The Medical Sensors market is segmented by type and by geography.
By Type - The medical sensors market is segmented by type into
    • a) Diagnostics and Imaging
    • b) Monitoring
    • c) Therapeutics
Therapeutics had the highest growth rate of nearly 10.4% during the historic period. The fastest growth in the historic period can be attributed to the demand for blood glucose sensors due to rising prevalence of diabetes especially in developing countries such as China and India.
By Geography - The medical sensors market is segmented into
    • o North America
      • USA
    • o Western Europe
      • UK
      • Germany
      • France
      • Spain
      • Italy
    • o Asia Pacific
      • China
      • Japan
      • India
      • Australia
    • o Eastern Europe
      • Russia
    • o South America
      • Brazil
    • o Middle East
    • o Africa
North America is the largest market for medical sensors, accounting for almost 43.6% of the global market. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, Africa and the Middle East will be the fastest growing regions in this market.

Medical Sensors Competitive Landscape

Major Competitors are:
    • • NXP Semiconductors N.V.
    • • STMicroelectronics N.V.
    • • Analog Devices, Inc.
    • • Medtronic Plc
    • • Honeywell International, Inc.
Other Competitors Include:
    • • OmniVision Technologies, Inc.
    • • Smiths Group plc
    • • Koninklijke Philips N.V.
    • • TE Connectivity Ltd.
    • • LORD Corporation
    • • Measurement Specialties Inc.
    • • Dexcom
    • • Danaher Corporation
    • • Cardiomo Care
    • • First Sensor AG
    • • Murata Electronics Europe B.V.
    • • Medical Sensors India Pvt. Ltd.
    • • Abbott Japan Co. Ltd
    • • MT Asia Corp
    • • Universal Biosensors
    • • State Corporation Rostec
    • • Cardio Técnica
    • • GluSense Ltd
    • • Neteera Technologies
    • • Cheetah Medical (Israel) Ltd
    • • TTI Israel
    • • Altys Group

  1. 1.Medical Sensors Market Executive Summary
  2. 2.Table Of Contents
  3. 3.List Of Figures
  4. 4.List Of Tables
  5. 5.Report Structure
  6. 6.Introduction
    • 6.1.1.Segmentation By Geography
    • 6.1.2.Segmentation By Type
  7. 7.Medical Sensors Market Characteristics
    • 7.1.Market Value Definition
    • 7.2.Segmentations:
  8. 8.Medical Sensors Market - Supply Chain
  9. 9.Medical Sensors Market Industry Trends And Strategies
    • 9.1.Medical Sensors For Wearables
    • 9.2.3D Printing Of Medical Sensors
    • 9.3.Increase In Collaborations And Partnerships
    • 9.4.Medical Body Area Network (MBAN) To Monitor Physiological Parameters
  10. 10.Medical Sensors Market Size and Growth
    • 10.1.Market Size
    • 10.2.Historic Market Growth
    • 10.3.Drivers Of The Market
    • 10.4.Restraints On The Market
    • 10.5.Forecast Market Growth
    • 10.6.Drivers Of The Market
    • 10.7.Restraints On The Market
  11. 11.Medical Sensors Market Regional And Country Analysis
    • 11.1.Global Medical Sensors Market, By Region
    • 11.2.Global Medical Sensors Market, 2014-2023, Historic And Forecast, By Region
    • 11.3.Global Medical Sensors Market, By Country
    • 11.4.Global Medical Sensors Market, Historic And Forecast, By Country
  12. 12.Medical Sensors Market Segmentation
    • 12.1.Global Medical Sensors Market, By Segment
    • 12.2.Global Medical Sensors Market, Historic And Forecast Market, By Segment, 2014-2023
  13. 13.Global Medical Sensors Market Comparison with Macro Economic Factors
    • 13.1.Global Per Capita Average Medical Sensors Market Expenditure
    • 13.2.Global Medical Sensors Market Size, Percentage of GDP
  14. 14.Asia-Pacific Medical Sensors Market
    • 14.1.Asia-Pacific Medical Sensors Market Overview
      • 14.1.1.Region Information
      • 14.1.2.Market Information
      • 14.1.3.Background Information
      • 14.1.4.Associations
      • 14.1.5.Regulatory Bodies
      • 14.1.6.Regulations
      • 14.1.7.Taxes Levied
      • 14.1.8.Corporate Tax
      • 14.1.9.Investments
      • 14.1.10.Major Companies
      • 14.1.11.End User Information
    • 14.2.Asia-Pacific Medical Sensors Market, 2014-2023, Market Value ($ Billions)
    • 14.3.Asia-Pacific Medical Sensors Market, 2018, By Segment, Value ($ Billion)
    • 14.4.Asia-Pacific Medical Sensors, 2014 - 2023, Historic And Forecast, By Segment
    • 14.5.Asia-Pacific Medical Sensors Market: Country Analysis
    • 14.6.China Medical Sensors Market
    • 14.7.China Medical Sensors Market, 2018, By Segment, Value ($ Million)
    • 14.8.China Medical Sensors, 2014 - 2023, Historic And Forecast, By Segment
    • 14.9.India Medical Sensors Market
    • 14.10.India Medical Sensors Market, 2014-2023, Market Value ($ Millions)
    • 14.11.India Medical Sensors Market, 2018, By Segment, Value ($ Million)
    • 14.12.India Medical Sensors, 2014 - 2023, Historic And Forecast, By Segment
    • 14.13.Japan Medical Sensors Market
    • 14.14.Japan Medical Sensors Market, 2014-2023, Market Value ($ Billions)
    • 14.15.Japan Medical Sensors Market, 2018, By Segment, Value ($ Million)
    • 14.16.Japan Medical Sensors, 2014 - 2023, Historic And Forecast, By Segment
    • 14.17.Australia Medical Sensors Market
    • 14.18.Australia Medical Sensors Market, 2014-2023, Market Value ($ Millions)
    • 14.19.Australia Medical Sensors Market, 2018, By Segment, Value ($ Million)
    • 14.20.Australia Medical Sensors, 2014 - 2023, Historic And Forecast, By Segment
  15. 15.Western Europe Medical Sensors Market
    • 15.1.Western Europe Medical Sensors Market Overview
      • 15.1.1.Region Information
      • 15.1.2.Market Information
      • 15.1.3.Background Information
      • 15.1.4.Associations
      • 15.1.5.Regulatory Bodies
      • 15.1.6.Regulations
      • 15.1.7.Taxes Levied
      • 15.1.8.Corporate Tax
      • 15.1.9.Investments
      • 15.1.10.Major Companies
      • 15.1.11.End User Information
    • 15.2.Western Europe Medical Sensors Market, 2014-2023, Market Value ($ Billions)
    • 15.3.Western Europe Medical Sensors Market, 2018, By Segment, Value ($ Billion)
    • 15.4.Western Europe Medical Sensors, 2014 - 2023, Historic And Forecast, By Segment
    • 15.5.Western Europe Medical Sensors Market: Country Analysis
    • 15.6.UK Medical Sensors Market
    • 15.7.UK Medical Sensors Market, 2014-2023, Market Value ($ Millions)
    • 15.8.UK Medical Sensors Market, 2018, By Segment, Value ($ Million)
    • 15.9.UK Medical Sensors, 2014 - 2023, Historic And Forecast, By Segment
    • 15.10.Germany Medical Sensors Market
    • 15.11.Germany Medical Sensors Market, 2014-2023, Market Value ($ Billions)
    • 15.12.Germany Medical Sensors Market, 2018, By Segment, Value ($ Million)
    • 15.13.Germany Medical Sensors, 2014 - 2023, Historic And Forecast, By Segment
    • 15.14.France Medical Sensors Market
    • 15.15.France Medical Sensors Market, 2014-2023, Market Value ($ Millions)
    • 15.16.France Medical Sensors Market, 2018, By Segment, Value ($ Million)
    • 15.17.France Medical Sensors, 2014 - 2023, Historic And Forecast, By Segment
    • 15.18.Italy Medical Sensors Market
    • 15.19.Italy Medical Sensors Market, 2014-2023, Market Value ($ Millions)
    • 15.20.Italy Medical Sensors Market, 2018, By Segment, Value ($ Million)
    • 15.21.Italy Medical Sensors, 2014 - 2023, Historic And Forecast, By Segment
    • 15.22.Spain Medical Sensors Market
    • 15.23.Spain Medical Sensors Market, 2014-2023, Market Value ($ Millions)
    • 15.24.Spain Medical Sensors Market, 2018, By Segment, Value ($ Million)
    • 15.25.Spain Medical Sensors, 2014 - 2023, Historic And Forecast, By Segment
  16. 16.Eastern Europe Medical Sensors Market
    • 16.1.Eastern Europe Medical Sensors Market Overview<
      • 16.1.1.Region Information
      • 16.1.2.Market Information
      • 16.1.3.Background Information
      • 16.1.4.Associations
      • 16.1.5.Regulatory Bodies
      • 16.1.6.Regulations
      • 16.1.7.Taxes Levied
      • 16.1.8.Corporate Tax
      • 16.1.9.Investments
      • 16.1.10.Major Companies
      • 16.1.11.End User Information
    • 16.2.Eastern Europe Medical Sensors Market, 2014-2023, Market Value ($ Millions)
    • 16.3.Eastern Europe Medical Sensors Market, 2018, By Segment, Value ($ Million)
    • 16.4.Eastern Europe Medical Sensors, 2014 - 2023, Historic And Forecast, By Type
    • 16.5.Eastern Europe Medical Sensors Market: Country Analysis
    • 16.6.Russia Medical Sensors Market
    • 16.7.Russia Medical Sensors Market, 2014-2023, Market Value ($ Millions)
    • 16.8.Russia Medical Sensors Market, 2018, By Segment, Value ($ Million)
    • 16.9.Russia Medical Sensors, 2014 - 2023, Historic And Forecast, By Segment
  17. 17.North America Medical Sensors Market
    • 17.1.North America Medical Sensors Market Overview
      • 17.1.1.Region Information
      • 17.1.2.Market Information
      • 17.1.3.Background Information
      • 17.1.4.Associations
      • 17.1.5.Regulatory Bodies
      • 17.1.6.Regulations
      • 17.1.7.Taxes Levied
      • 17.1.8.Corporate Tax
      • 17.1.9.Investments
      • 17.1.10.Major Companies
      • 17.1.11.End User Information
    • 17.2.North America Medical Sensors Market, 2014-2023, Market Value ($ Billions)
    • 17.3.North America Medical Sensors Market, 2018, By Segment, Value ($ Billion)
    • 17.4.North America Medical Sensors, 2014 - 2023, Historic And Forecast, By Type
    • 17.5.North America Medical Sensors Market: Country Analysis
    • 17.6.USA Medical Sensors Market
    • 17.7.USA Medical Sensors Market, 2014-2023, Market Value ($ Billions)
    • 17.8.USA Medical Sensors Market, 2018, By Segment, Value ($ Billion)
    • 17.9.USA Medical Sensors, 2014 - 2023, Historic And Forecast, By Segment
  18. 18.South America Medical Sensors Market
    • 18.1.South America Medical Sensors Market Overview
      • 18.1.1.Region Information
      • 18.1.2.Market Information
      • 18.1.3.Background Information
      • 18.1.4.Associations
      • 18.1.5.Regulatory Bodies
      • 18.1.6.Regulations
      • 18.1.7.Corporate Tax
      • 18.1.8.Investments
      • 18.1.9.Major Companies
      • 18.1.10.End User Information
    • 18.2.South America Medical Sensors Market, 2014-2023, Market Value ($ Millions)
    • 18.3.South America Medical Sensors Market, 2018, By Segment, Value ($ Million)
    • 18.4.South America Medical Sensors, 2014 - 2023, Historic And Forecast, By Type
    • 18.5.South America Medical Sensors Market: Country Analysis
    • 18.6.Brazil Medical Sensors Market
    • 18.7.Brazil Medical Sensors Market, 2014-2023, Market Value ($ Millions)
    • 18.8.Brazil Medical Sensors Market, 2018, By Segment, Value ($ Million)
    • 18.9.Brazil Medical Sensors, 2014 - 2023, Historic And Forecast, By Segment
  19. 19.Middle East Medical Sensors Market
    • 19.1.Middle East Medical Sensors Market Overview
      • 19.1.1.Region Information
      • 19.1.2.Market Information
      • 19.1.3.Background Information
      • 19.1.4.Associations
      • 19.1.5.Regulatory Bodies
      • 19.1.6.Regulations
      • 19.1.7.Taxes Levied
      • 19.1.8.Corporate Tax
      • 19.1.9.Investments
      • 19.1.10.Major Companies
      • 19.1.11.End User Information
    • 19.2.Middle East Medical Sensors Market, 2014-2023, Market Value ($ Millions)
    • 19.3.Middle East Medical Sensors Market, 2018, By Segment, Value ($ Million)
    • 19.4.Middle East Medical Sensors, 2014 - 2023, Historic And Forecast, By Type
  20. 20.Africa Medical Sensors Market
    • 20.1.Africa Medical Sensors Market Overview
      • 20.1.1.Region Information
      • 20.1.2.Market Information
      • 20.1.3.Background Information
      • 20.1.4.Associations
      • 20.1.5.Regulatory Bodies
      • 20.1.6.Regulations
      • 20.1.7.Taxes Levied
      • 20.1.8.Corporate Tax
      • 20.1.9.Investments
      • 20.1.10.Major Companies
      • 20.1.11.End User Information
    • 20.2.Africa Medical Sensors Market, 2014-2023, Market Value ($ Millions)
    • 20.3.Africa Medical Sensors Market, 2018, By Segment, Value ($ Million)
    • 20.4.Africa Medical Sensors, 2014 - 2023, Historic And Forecast, By Type
  21. 21.Medical Sensors Market Competitive Landscape
    • 21.1.Company Profiles
    • 21.2.NXP Semiconductors N.V.
      • 21.2.1.Company Overview
      • 21.2.2.Products And Services
      • 21.2.3.Product Overview
      • 21.2.4.Business Strategy
      • 21.2.5.Financial Performance
    • 21.3.STMicroelectronics N.V.
      • 21.3.1.Company Overview
      • 21.3.2.Products And Services
      • 21.3.3.Business Strategy
      • 21.3.4.Financial Performance
    • 21.4.Analog Devices, Inc.
      • 21.4.1.Company Overview
      • 21.4.2.Products And Services
      • 21.4.3.Product Overview
      • 21.4.4.Research And Development
      • 21.4.5.Business Strategy
      • 21.4.6.Financial Performance
    • 21.5.MEDTRONIC PLC
      • 21.5.1.Company Overview
      • 21.5.2.Products And Services
      • 21.5.3.Product Overview
      • 21.5.4.Research And Development
      • 21.5.5.Business Strategy
      • 21.5.6.Financial Performance
    • 21.6.Honeywell International, Inc.
      • 21.6.1.Company Overview
      • 21.6.2.Products And Services
      • 21.6.3.Product Overview
      • 21.6.4.Research And Development
      • 21.6.5.Business Strategy
      • 21.6.6.Financial Performance
  22. 22.Key Mergers And Acquisitions In The Medical Sensors Market
    • 22.1.TE Connectivity Acquired Measurement Specialties
    • 22.2.Sensata Technologies Acquired Part of Custom Sensors & Technologies
    • 22.3.Murata Acquired Vios Medical
    • 22.4.AMETEK Acquired Forza Silicon
    • 22.5.LORD Corporation Acquired Stellar Technology
  23. 23.Medical Sensors Market Innovations
    • 23.1.Drug-Device Combination Product With An Ingestible Medical Sensor
    • 23.2.Continuous Glucose Monitoring System With An Implantable Glucose Sensor
    • 23.3.Needleless Tattoo Sensor
    • 23.4.Glaucoma-Monitoring Sensor
  24. 24.Medical Sensors Market Patents
    • 24.1.1.Company
    • 24.1.2.Patent Name
    • 24.1.3.Patent Date
    • 24.1.4.Description
  25. 25.Opportunities And Strategies
    • 25.1.Global Medical Sensors Market Opportunities
    • 25.2.Global Medical Sensors Market In 2023 - Countries Offering Most New Opportunities
    • 25.3.Global Medical Sensors In 2023 - Segments Offering Most New Opportunities
    • 25.4.Global Medical Sensors Market Strategies
      • 25.4.1.Market Trend Based Strategies
      • 25.4.2.Competitor Strategies
  26. 26.Appendix
    • 26.1.Market Data Sources
    • 26.2.Research Methodology
    • 26.3.Currencies
    • 26.4.Research Inquiries
    • 26.5.The Business Research Company
  27. 27.Copyright and Disclaimer
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