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Medical Sensors Market Trends

Report ID: GMI7279
Published Date: Nov 2023
Report Format: PDF

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Medical Sensors Market Trends

Advancements in sensor technologies will lead to high growth opportunities. The development of sensing technologies is making remote monitoring easier. The market will have numerous opportunities for growth as the number of smart medical devices rises. A range of growth opportunities will be presented to the market with the rise in smart medical devices. Communication technologies can be integrated with advanced sensors. Positive developments are in store for the medical sensors industry in the coming years owing to the introduction of IoT. Smaller, more compact sensors that can be incorporated into a variety of medical devices and even embedded in clothing are being made possible via advancements in sensor technology. Patients can now find continuous monitoring and data collection to be more convenient due to these wearable sensors.

The two foremost developments in the market are digital medicines and sensor-enabled pills. A sensor-enabled pill can help patients apply medication safely and effectively. Since such medication lowers the cost of inpatient care and treatment, its use is expected to grow. Medical sensors are used in these digital pills to detect signals and gather data regarding medication effects & missed doses.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The market size for medical sensors was valued at over USD 15 billion in 2022 and is estimated to record more than 10% CAGR between 2023 and 2032.

The bio sensor segment share was over 24% in 2022 and is estimated to register about 11% CAGR from 2023 to 2032 as these sensors play a crucial role in healthcare and medical research by providing real-time data on various health-related parameters.

North America market size for medical sensors was over 33% in 2022 and is expected to grow through 2032 owing to the high prevalence of inadequate inhalers for asthma attacks, well-developed infrastructure, favorable reimbursement regulations, and rapid adoption of advanced medical technologies across the region.

Amphenol Corporation, Analog Devices, Honeywell Inc., STMicroelectronics, TE Connectivity, and Texas Instruments.