The global medical sensors market is likely to expand at a CAGR of 9.9% during forecast period 2018–2026, states a new study published by Transparency Market Research. Further, the study highlights that the market is expected to gather the valuation of US$ 27.7 Bn by 2026.
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The new report focuses on offering complete synopsis of the global medical sensors market for the forecast period 2018–2026. Thus, the readers gain access to all data and analysis on the key facets shaping market growth including drivers, restraints, growth opportunities, investment opportunities, challenges, and trends in the market for medical sensors.
Medical sensors refer to electronic devices incorporated in the medical equipment, devices, and probes. Over the period of recent few years, there is significant growth in the adoption of this device in the healthcare industry. This growth can be attributed to the ability of sensor signals to allow for precise diagnosis, monitor over activities, and treatment. Thus, growing product acceptance across the globe will help in generating significant sales opportunities in the global medical sensors market in the years ahead.
Over the period of past few years, a noteworthy growth in the cost of medical treatment services in different healthcare centers across the globe is observed. Apart from this, there is considerable increase in the use of sensor-based medical devices for home care settings. All these factors are resulting into high demand avenues for players in the medical sensors market. Besides, growing use of medical sensors during different activities including diseases diagnosis and other health-related application such as remote patient monitoring will help in further market expansion.
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New Product Development and Mergers & Acquisitions: Key Strategies of Market Leaders
Honeywell International, Inc., Cardiomo, Dexcom, Inc., TE Connectivity, Danaher Corporation, Medtronic, Sensirion AG, First Sensor AG, GluSense Ltd, and Smiths Groups plc are some of the key players working in the global medical sensors market. Due to the presence of many well-established players, the competitive landscape of the market for medical sensors seems to be highly intense. Thus to maintain the leading position in the market, many enterprises are focused on utilizing various organic and inorganic strategies.
Several players in the global medical sensors market are increasing their efforts toward the development of new technologies as well as new products. As a result, they are growing their investments toward the research and development activities. Besides, many enterprises are seen engaged in the mergers and acquisition activities. On the back of all these actions, the global medical sensors market is likely to expand at a promising pace in the years to come.
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North America Shows Lucrative Avenues for Market Growth
In terms of region, the global medical sensors market is divided into many regions such as Europe, Americas, Asia Pacific, and Middle East, and Africa (EMEA). Of them, the Americas medical sensors market is expected to maintain its dominant position in the forthcoming years. This growth can be attributed to many factors such as easy accessibility to advanced health care infrastructure and increased use of medical devices in the region.
Global Medical Sensors Market Segmentation
The segmentation of the global medical sensors market is performed on the basis of various key aspects such as application, product, end-user, region, and placement type. Based on product, the market for medical sensors is divided into seven parts, namely, the temperature sensors, biosensors, image sensors, motion sensors, pressure sensors, flow sensors, and others. In terms of application, the medical sensors market is classified into monitoring, diagnostics, wellness & fitness, therapeutics, and others. Based on placement, the market is bifurcated into wireless sensors, implantable sensors, wearable sensors, and others.
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The study presented here is based on a report by Transparency Market Research (TMR) titled “Medical Sensors Market (Product - Biosensors, Temperature Sensors, Motion Sensors, Image Sensors, Flow Sensors, Pressure Sensors; Application - Diagnostics, Monitoring, Therapeutics, Wellness and Fitness; Placement - Wearable Sensors, Wireless Sensors, Implantable Sensors; End use - Hospitals, Clinics, Home Care Settings) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026.”
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