Disposable Medical Sensors Market Size, Share & Trends Analysis Report By Application (Diagnostic, Therapeutic, Patient Monitoring), By Product (Biosensors, Pressure Sensors), By Type, By Region- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

According to Nova one advisor, the global Disposable Medical Sensors market size was estimated at USD 9.60 billion in 2022 and is projected to hit around USD 36.34 billion by 2030, growing at a CAGR of 18.50% during the forecast period 2022 to 2030.

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Key Takeaways:

  • By application, the diagnostic segment dominates the market by 39.48% of the market share in 2022. This growth is attributed to the increasing prevalence of chronic disorders and rising awareness regarding advanced products
  • Based on the product, the biosensors segment is expected to hold over 49.80% of the share in 2022. The primary drivers for biosensors market growth are many applications in the healthcare / medical sector, rapid technological advancements in the drug screens area due to the COVID-19 Pandemic, and increased demand in the bioprocessing industry
  • Based on type, the strip sensors segment is expected to hold over 38.86% of the share in 2022 owing to increasing demand and its usage in the diagnostic application. Moreover, the demand for self-diagnosis and home-based medical devices fuels the segment growth
  • The Asia Pacific region is estimated to register the highest CAGR during the forecast period. Increasing disposable income, growing awareness levels, and rising incidence rate of chronic conditions are a few factors promoting growth
  •        North America dominated the market with the largest revenue share of over 41.38% in 2022. This is due to factors including its established healthcare infrastructure, high healthcare spending, the existence of monopolistic market players, and the quick uptake of cutting-edge technologies.

The growth of the disposable medical sensors industry is attributed to technological advancements, increasing demand for health data tracking, and demand for low-cost medical devices. The increasing prevalence of chronic diseases across the globe is likely to boost the demand for disposable medical sensors. for instance, According to Front. Public Health in 2020, chronic non-communicable diseases (NCDs) accounted for about 80% of mortality in China among adults aged 60, with Ischemic heart disease, stroke, Chronic Obstructive Pulmonary Disease (COPD), and Type 2 diabetes being the most common.

The market is expected to grow due to the rising demand for rapid and accurate diagnostic kits, the increasing prevalence of chronic diseases, and the growing inclination toward fitness.

Due to the COVID-19 outbreak, the market has experienced rapid growth recently as a result of the growing number of hospitals around the world. This will lead to the high adoption of disposable medical sensors because they are affordable and time-saving, thus driving the market growth. According to the Food and Drug Administration (FDA-US), the COVID-19 pandemic's increased demand for home-based point-of-care devices would present profitable opportunities for industry expansion in the foreseeable future.

Technology advancements are anticipated to play a significant role in the market expansion for disposable medical sensors throughout the course of the forecast period. For instance, the U.K. launched the Defense and Security Accelerator (DASA) competition in April 2020, which is a wide-area biosensor competition. With the help of this competition, Phase 2 of the Wide-area Biosensor Program will be able to locate and identify dangerous biological infections in the field. For instance, Australian scientists created the first biosensor in the world capable of tracking pH changes in cancer and stroke patients in April 2020.

Additionally, due to disposable medical sensors advancing technological capabilities, the market expansion is projected to be fueled by rising demand for biosensors in bioreactors and drug research. For instance, in August 2022, the first nano biosensor with a protein response that is commercially available was announced by SkyWater Technology and NanoDx, Inc. which is anticipated to boost the market growth in the near future.

Report Scope of the Disposable Medical Sensors Market

Report Coverage

Details

Market Size

USD 36.34 Billion by 2030

Growth Rate

CAGR of 18.50% from 2022 to 2030

Largest Market

North America

Fastest Growing Market

Asia Pacific

Base Year

2021

Forecast Period

2022 to 2030

Segments Covered

Application, type, product, and Region,

Companies Mentioned

SSI Electronics; ACE Medical Devices; Sensirion AG Switzerland; Smiths Medical; Koninklijke Philips N.V.; GE Healthcare; Analog Devices Inc.; Honeywell International Inc, TE Connectivity; Medtronic; NXP Semiconductor

 

Application Insights

The diagnostic led the market and accounted for more than 39.48% share of the global revenue in 2022. Disposable medical sensors are used in a variety of diagnostic devices such as surgical tools, endoscopy, spirometry, and medical imaging devices. With the sensors, the diagnostic devices are enhanced and the disease is detected at an early stage. For instance, carbon nanotube-based biosensors are used for the detection of microorganisms such as S. aureus and E. coli. The technological advancement in the sensors such as high speed and low cost is enabling faster and more accurate results. Additionally, wireless communications along with integrated biosensors are creating growth opportunities in the diagnostic field.

Moreover, the increasing prevalence of chronic diseases and the demand for diagnostics. Chronic diseases, such as diabetes, need diagnostic to check the person's symptoms and signs of the disease in patients. Thus, several devices designed to track activities as well as monitor the risks associated with the health of patients are available. For instance, in October 2020, together, STMicroelectronics and Alifax S.r.l., a manufacturer of clinical diagnostic equipment, developed an affordable and quick portable solution to amplify genetic material (DNA1 and RNA) in patient samples for point-of-care molecular diagnostic detection using highly reliable Polymerase Chain Reactions (PCR) real-time. This solution will be made available by Alifax.

The patient monitoring segment is expected to expand at the highest CAGR during the forecast period. Medical sensors are used in patient monitoring devices such as pulse oximetry, blood pressure monitors, and others. With the advancing technology and increasing need for better monitoring devices, the need for medical sensors is rising. Additionally, new product launches are enhancing the quality of care. For instance, Philips is expected to launch a next-generation monitoring biosensor that would continuously and automatically measure vital signs such as skin temperature, heart rate, and respiratory rate.

Moreover, due to the various advantages of these sensors, the demand for these devices is anticipated to increase during the forecast period. Increasing R&D investment, and collaboration between companies are also expected to propel market growth. For instance, in March 2022, recently, Rockley Photonics Holdings Limited announced that it would work with Medtronic on future projects. The two businesses want to work together to implement Medtronic's solutions and Rockley's recently released Bioptx biomarker sensing technology in a range of healthcare settings. The collaboration with Medtronic expands on the social change from reactive to proactive healthcare by potentially delivering real-time, round-the-clock, non-invasive monitoring of a person's well-being and health, allowing doctors to customize care using actionable data which is expected to spur the segment growth in the near future.

Product Insights

In 2022, the biosensors segment dominated the market with a share of over 49.80%. A biosensor is a sensor that is used for detecting the analyte. It collects biological components through a physiochemical detector. The signals obtained from the analyte are detected and measured. The biosensors are usually associated with the electronics, the signals are received by the sensor and are displayed on the device.

There are various types of biosensors used such as electronic, amperometric, blood glucose, potentiometric, conduct metric biosensors, thermometric, optical, fiber optic lactate, immune, and piezoelectric biosensors. Biosensors find application in patient monitoring as well as diagnostics. The rising demand for rapid and accurate diagnostic kits is creating opportunities for the growth of biosensors. Furthermore, owing to innovation, the requirement to perform faster diagnosis is expected to promote the development of advanced biosensors over the forecast period.

The image sensors segment is expected to expand at the highest CAGR during the forecast period. Image sensors utilize light waves and convert them into signals to form an image and find high applicability in the diagnostic segment. Image sensors are used in medical imaging devices such as endoscopy, and electronic imaging devices such These sensors are of two types, charge-coupled devices (CCD) and complementary metal oxide semiconductors (CMOS).

The CMOS image sensors are more commonly used than CCD owing to the lesser power consumption and faster speed of diagnosis. CMOS are mainly used in x-ray imaging, minimally invasive surgery, endoscopy, and ocular surgery. The technological advancements and the need for higher resolution are expected to fuel the market growth over the forecast period.

Type Insights

In 2022, the strip sensors segment dominated the market with a share of over 38.86%. Strip sensors are mainly used in blood glucose monitoring, disease testing, and magnetic nanoparticles. The strip sensors segment holds the largest market share owing to the increasing demand and its usage in diagnostic applications. An additional benefit of using strip sensors is that the results are obtained faster. Moreover, the demand for self-diagnosis and home-based medical devices is fueling the market.

The ingestible sensors segment is expected to expand at the highest CAGR during the forecast period. An ingestible sensor is a small chip that is swallowed in the form of a capsule, the chip detects the body abnormalities if any and transmits the data to the device outside. These sensors are mainly used in endoscopy, controlled drug delivery, and patient monitoring. The increasing prevalence of chronic diseases and the need for invasive diagnostic testing is propelling the growth of ingestible sensors. Additionally, the results obtained by using ingestible sensors are more accurate which is expected to fuel the market further.

Due to the various advantages of ingestible sensors, the demand for these devices is anticipated to increase during the forecast period. Increasing R&D investments and collaborations between companies are also expected to propel market growth. In July 2021, according to Medtronic plc, the FDA cleared the use of two LINQ II insertable cardiac monitors with the AI AccuRhythm algorithms. When the AI AccuRhythm algorithms are made accessible on the CareLink Network later this year, all LINQ II implants in the U.S will be able to use them.

Regional Insights

North America dominated the market with the largest revenue share of over 41.38% in 2022. This is due to factors including its established healthcare infrastructure, high healthcare spending, the existence of monopolistic market players, and the quick uptake of cutting-edge technologies.

The global disposable medical sensors industry is most developed in North America. Over the projection period, the market is expected to be driven by the rapid uptake of patient monitoring and homecare devices for routine, ongoing, and long-term patient monitoring and lowering the frequency of hospital visits.

Favorable reimbursement policies are anticipated to further fuel market expansion in North America. The rising prevalence of lifestyle-related health issues, accidents, and sports injuries are further reasons that are projected to fuel market growth in North America. The increasing use of mobile surgery centers and rising demand for effective emergency care are anticipated to boost the market during the forecast period.

Furthermore, disposable medical sensors are becoming more necessary due to the COVID-19 pandemic, since people chose to receive care at home rather than risk getting sick. In the U.S, 23.4 million patients used remote patient monitoring (RPM) tools and services in 2020, and 30 million patients—or 11.2% of the population—will do so by 2024, according to a survey by Insider Intelligence. To improve patient monitoring and treatment options, as well as to lessen healthcare workers' exposure to SARS-CoV-2 during the pandemic, the FDA granted Emergency Use Authorizations (EUAs) for a number of wearable and patient monitoring devices.

The Asia-Pacific is expected to register the fastest growth in the global disposable medical sensors market during the forecast period. In APAC nations, there is a demand for disposable medical sensor equipment due to the increased prevalence of cardiac disorders. Additionally, China and India have the highest prevalence of diabetes in the globe, making them the most affected nations. In 2021, 90 million people (20-79) will have diabetes in the South-East Asia (SEA) Region of the International Diabetes Federation (IDF), according to one prediction. This figure is expected to increase to 113 million and 152 million people, respectively, by 2030 and 2045.

According to the Indian Journal of Ophthalmology, globally and in emerging nations like India, the burden of diabetes is large and rising, primarily due to rising rates of overweight/obesity and unhealthy lifestyles. In India, 77 Mn people were estimated to have diabetes in 2019, and by 2045, that number is projected to reach over 134 million. As a result, the region is seeing an increase in demand for home-based disposable medical sensors, which is opening up new market opportunities. Furthermore, the area is home to several major companies in the global market for disposable medical sensors, which helps to boost its market share.

Some of the prominent players in the Disposable Medical Sensors Market include:

  • SSI Electronics
  • ACE Medical Devices
  • Sensirion AG Switzerland
  • Smith’s Medical 
  • Koninklijke Philips N.V.
  • GE Healthcare
  • Analog Devices, Inc. 
  • Honeywell International Inc
  • TE Connectivity
  • Medtronic
  • NXP Semiconductor

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Disposable Medical Sensors market

  • Application
    • Diagnostic
    • Therapeutic
    • Patient Monitoring
  • Product
    • Biosensors
    • Pressure Sensors
    • Accelerometers
    • Temperature Sensors
    • Image Sensors
    • Others
  • Type
    • Strip Sensors
    • Wearable Sensors
    • Implantable Sensors
    • Invasive Sensors
    • Ingestible Sensors

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

Key Benefits for Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Disposable Medical Sensors industry analysis from 2022 to 2030 to identify the prevailing Disposable Medical Sensors industry opportunity.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the global Disposable Medical Sensors industry segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global Disposable Medical Sensors industry trends, key players, market segments, application areas, and market growth strategies.

 

 

Report Detail

  • Report Code:7553
  • No. of Pages:150+
  • Format:PDF/PPT/Excel

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