The disposable medical devices sensors market was valued at USD 6.8 billion in 2021 and it is anticipated to grow up to USD 13.8 billion by 2031, at a CAGR of 7.4% during the forecast period.
New York, According to a new market research report published by Global Insight Services “Disposable Medical Device Sensors Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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Disposable medical sensors refer to single-use, hand-held and portable scanning devices used for diagnosis, patient monitoring, and therapeutic applications. They are generally integrated into stationary medical devices for on-site patient observation and remote monitoring. Some of the commonly used disposable medical sensors include accelerometers, pressure, temperature, image, and biosensors, which are placed on strips, wearable, implantable, invasive, and ingestible sensors. These devices detect and transmit information regarding vital signs, such as heart rate, oxygen levels, pulse rate, and temperature, in the form of electrical signals. Owing to that, they are widely used for various cardiological, radiological, neurological, ophthalmological, and urological procedures.
Market Trends and Drivers
The increasing prevalence of chronic medical ailments, such as cancer, diabetes, asthma, and stroke, is one of the key factors driving the growth of the market. Likewise, the widespread adoption of at-home and point-of-care (POC) diagnostic devices for the monitoring of elderly and post-operative rehabilitation patients is providing a thrust to the market growth. Disposable medical sensors are highly cost-effective, convenient to use, and provide prompt and accurate results. Moreover, rising instances of hospital-acquired infections (HAIs), which can be prevented by using single-patient disposable medical sensors, are also contributing to the market growth. Similarly, various technological advancements, like the development of carbon nanotube-based biosensors, which are used for the detection of E. coli and other pathogens, are acting as other growth-inducing factors.
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Market Restraints and Challenges
The factors such as the vulnerability of connected medical devices in term of data leakage is hampering the growth of the market. Data security and privacy have become major areas of concern for patients and healthcare service providers owing to the rising global adoption of wireless medical devices. The vulnerability of connected medical devices in terms of personal information leakages acts as a challenge for the growth of the disposable medical device sensors market. With the proliferation of IoT-based connected medical devices in the global healthcare sector, these medical devices are exposed to the threats of cyberattacks. The connected nature of medical devices makes certain medical devices prone to hacking. Owing to that, manufacturers of these medical devices are essential to adhere to stringent standards to ensure patient data privacy and safety.
Major Players in the Global Disposable Medical Devices Sensors Market
The key players studied in the global disposable medical devices sensors market are Abbott Laboratories, Amphenol Corporation, Conmed Corporation, Gentag Inc., Honeywell International Inc., Nuova Personaldienstleistung GmbH, Omnivision Technologies Inc., Sensirion Holding AG, Smiths Group plc, Starboard Medical Inc., TE Connectivity Ltd. and Vital Connect Inc.
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Reasons to buy Disposable Medical Device Sensors Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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