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

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	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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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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