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Medical Sensors Market by End-user and Geography - Forecast and Analysis 2021-2025

  • Published: Jan 2021
  • Pages: 120
  • SKU: IRTNTR70069
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The medical sensors market share is expected to increase by USD 7.84 billion from 2021 to 2025, and the market’s growth momentum will accelerate at a CAGR of 10%.

This medical sensors market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentations by end-user (hospitals, clinics, and home care settings) and geography (North America, Europe, Asia, and ROW). The medical sensors market report also offers information on several market vendors, including First Sensor AG, Honeywell International Inc., Medtronic Plc, Merit Medical Systems Inc., NXP Semiconductors NV, Sensirion AG, Smiths Group Plc, STMicroelectronics NV, Tekscan Inc., and Texas Instruments Inc., among others.

What will the Medical Sensors Market Size be During the Forecast Period?

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Medical Sensors Market: Key Drivers and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post the COVID-19 era. The increasing prevalence of chronic diseases is notably driving the medical sensors market growth, although factors such as lack of accuracy of medical sensors may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the medical sensors industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Medical Sensors Market Drivers

The increasing prevalence and incidence of chronic and infectious medical conditions that need frequent monitoring, a rise in the healthcare expenditure of people, the adoption of technologically advanced products, the growing demand for remote patient monitoring, and the presence of prominent vendors are the major factors contributing to the growth of the medical sensors market.

The growing demand for digital medicine and sensor-enabled pills has boosted the growth of the market. Furthermore, substantial investments and scientific advances in the field of medical sensor technologies are positively impacting the growth of the market. Also, with an increase in the number of end-users such as hospitals, clinics, and home care settings offering remote patient monitoring services, the demand for medical sensors has increased rapidly. 

 

This medical sensors market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Medical Sensors Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • First Sensor AG
  • Honeywell International Inc.
  • Medtronic Plc
  • Merit Medical Systems Inc.
  • NXP Semiconductors NV
  • Sensirion AG
  • Smiths Group Plc
  • STMicroelectronics NV
  • Tekscan Inc.
  • Texas Instruments Inc.

 

This statistical study of the medical sensors market encompasses successful business strategies deployed by the key vendors. The medical sensors market is fragmented, and the vendors are deploying both organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The medical sensors market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Medical Sensors Market?

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40% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for medical sensors in North America.

In 2020, North America was the largest geographical region in the global medical sensors market in terms of market value. The increasing prevalence and incidence of chronic and infectious medical conditions that need frequent monitoring will facilitate the medical sensors market's growth in North America during the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating End-user Segments in the Medical Sensors Market?

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The medical sensors market share growth by the hospitals segment will be significant during the forecast period. Hospitals are increasingly using medical devices equipped with medical sensors and medical equipment to regularly monitor patient health. They use electronic-based medical equipment with medical sensors to convert various forms of stimuli of patients into electrical signals for analysis. For instance, sensors are used in life-supporting implants to enable bedside and remote monitoring of vital signs. Thus, the increased adoption of medical sensors in hospitals to monitor neuromotor and cognitive abilities in premature babies and elderly patients contributes to the demand for medical sensors from the segment.

This report provides an accurate prediction of the contribution of all the segments to the growth of the medical sensors market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Medical Sensors Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 10%

Market growth 2021-2025

USD 7.84 billion

Market structure

Fragmented

YoY growth (%)

9.51

Regional analysis

North America, Europe, Asia, and ROW

Performing market contribution

North America at 40%

Key consumer countries

The US, Germany, the UK, Canada, Japan, and India

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

First Sensor AG, Honeywell International Inc., Medtronic Plc, Merit Medical Systems Inc., NXP Semiconductors NV, Sensirion AG, Smiths Group Plc, STMicroelectronics NV, Tekscan Inc., and Texas Instruments Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Medical Sensors Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive the medical sensors market's growth during the next five years
  • Precise estimation of the medical sensors market's size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the medical sensors industry across North America, Europe, Asia, and ROW
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of the medical sensors market's vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five Forces Summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Hospitals - Market size and forecast 2020-2025
    • Clinics - Market size and forecast 2020-2025
    • Home care settings - Market size and forecast 2020-2025
    • Market opportunity by End-user

    Customer landscape

    • Customer landscape

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • North America - Market size and forecast 2020-2025
    • Europe - Market size and forecast 2020-2025
    • Asia - Market size and forecast 2020-2025
    • ROW - Market size and forecast 2020-2025
    • Key leading countries
    • Market opportunity by geography
    • Volume drivers – Demand led growth
    • Market challenges
    • Market trends

    Vendor Landscape

    • Overview
    • Vendor landscape
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • First Sensor AG
    • Honeywell International Inc.
    • Medtronic Plc
    • Merit Medical Systems Inc.
    • NXP Semiconductors NV
    • Sensirion AG
    • Smiths Group Plc
    • STMicroelectronics NV
    • Tekscan Inc.
    • Texas Instruments Inc.

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
    Technavio

    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
    Technavio

    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
    Interested in this report?
    Get your FREE sample now!
    The medical sensors market growth will increase by $7843.00 million during 2020-2025.
    The medical sensors market is expected to grow at a CAGR of 10.08% during 2020-2025.
    Technavio has segmented the medical sensors market by end user (Hospitals, Clinics, and Home care settings) and geographic (North America, Europe, Asia, and ROW).
    First Sensor AG, Honeywell International Inc., Medtronic Plc, Merit Medical Systems Inc., NXP Semiconductors NV, Sensirion AG, Smiths Group Plc, STMicroelectronics NV, Tekscan Inc., Texas Instruments Inc. are a few of the key vendors in the medical sensors market.
    North America will register the highest growth rate of 40.45% among the other regions. Therefore, the medical sensors market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
    • US
    • Germany
    • UK
    • Canada
    • Japan
    • India
    The key factors driving the medical sensors market growth are:
    • Increasing prevalence of chronic diseases
    • Increasing applications of wireless sensors and wearable detecting devices
    The medical sensors market vendors should focus on grabbing business opportunities from the hospitals segment as it accounted for the largest market share in the base year.
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