Disposable Medical Device Sensor Market Report 2021: Global Industry Share, Top Key Players

A comprehensive overview of the Disposable Medical Device Sensor market is recently added by UnivDatos Market Insights to its humongous database. The Disposable Medical Device Sensor report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Disposable Medical Device Sensor market. The Disposable Medical Device Sensor report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Disposable Medical Device Sensor at the global and regional levels.

Market Overview

The soaring demand for sensors in homes and clinics for the treatment or diagnosis purpose is one of the primary factors augmenting the global market for disposable medical sensors. The rising incidence of chronic diseases, including cancer, cardiovascular, and kidney disorders along with growing prevalence of hospital-acquired infections are stoking the growth of the global market. Moreover, over the past few years, there has been a dramatic rise in the number of admissions to hospitals. This factor is translating into the greater uptake of disposable medical sensors. Besides, the increasing initiatives by governments worldwide, growing investments in the healthcare sector, and continuous improvements in the wearable technology are providing a fillip to the global market. According to the CDC, up to 1.7 million hospitalized patients in the US annually acquire healthcare-associated infections (HCAIs) while being treated for other health issues, and more than 98,000 of these patients (one in 17) die due to HCAIs. 32% of all HAIs in the country are urinary tract infections, 22% are surgical-site infections, 15% are lung (pneumonia) infections, and 14% are bloodstream infections.

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 According to the CCDC India, more than 2 million people die every year in the country due to cardiovascular disorders (CVDs), and it is projected to increase to 4.8 million by 2020.The IDF Diabetes Atlas report 2019 stated that the number of diabetics in the Middle East and North Africa was estimated at 55 million in 2019 and is expected to increase to 105 million by 2045 (a 96% increment).

 Furthermore, new launch of technologies and novel devices and rise in awareness regarding Blood purification therapy is contributing to the growing market of Disposable Medical Device Sensor market .

COVID-19 Impact

The COVID-19 outbreak has led to a change in consumer preferences and priorities as the focus now has shifted toward the use of technology and contact-less healthcare. Consumers are increasingly opting for remote healthcare facilities from the comfort and safety of their homes. In the current pandemic, researchers worldwide have been rushed to develop accurate and efficient novel biosensor-based approaches for the early detection of SARS-CoV-2. According to Snapdeal, the overall sales in the at-home diagnostic kits category between April and July 2020 more than doubled compared to 2019. The greatest number of personal diagnostic and health monitoring devices purchased were pulse oximeters, blood pressure monitors, digital thermometers, and glucometers. The uncertainty of the pandemic has induced fear among people regarding visiting hospitals, which has boosted the sales of home-based diagnostic devices. For instance, 26 May 2020:  Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its wearable biosensor (Philips Biosensor BX100) to help manage confirmed and suspected COVID-19 patients in the hospital..

Global Disposable Medical Device Sensor Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Product Type, the market is primarily bifurcated into

• Ingestible sensors
• Implantable  sensors
• Strip sensors
• Invasive sensors

The Strip sensor segment dominated the type segment and gathered XX% of the Disposable Medical Device Sensor Market in 2020. Moreover, the market is expected to grow at XX% CAGR to reach US$ XX million by the year 2027.

By Sensor type, the market is primarily segmented into

• Biosensors
• Image sensors
• Pressure sensors
• Temperature sensors
• Accelerometers

Based on the Sensor type, the Biosensor accounted for the largest share and is expected to grow at XX% CAGR during the forecast period 2021-2027. In 2020, the portable segment generated a revenue of US$ XX million.

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By Application, the market is primarily segmented into

• Patient monitoring
• Diagnostics
• Therapeutics

Based on the Application, The Diagnostic segment would display a significant growth rate during the forecast period with a CAGR of XX %. The large share of this application segment can primarily be attributed to the rising incidence of lifestyle diseases across the globe. The widespread usage of glucose test strips, infectious disease test strips, and pregnancy test strips in homes as well as in clinics is another factor driving the market growth.

Disposable Medical Device Sensor Geographical Segmentation Includes:

• North America
• Europe
• Asia-Pacific
• Rest of the World

Based on the estimation, United States dominated the North America Disposable Medical Device Sensor market and is expected to grow at a CAGR of XX% during the forecast period to reach the market value of US$ XX Bn by 2027. The regional growth can be accredited to supportive demographic trends like the increasing geriatric population. A major segment of the geriatric population suffers from one or other types of chronic diseases that would act as a driver for the growth of the market. Moreover, the growth of the regional market would be propelled by favourable government regulations regarding Disposable Medical Device Sensor.The United States Disposable Medical Device Sensor Market is projected to grow with a significant CAGR in the forecast period.

The major players targeting the market includes

• Abbott
• F. Hoffmann-La Roche Ltd.
• Koninklijke Philips
• Texas Instrument 
• NXP Semiconductors
• General Electric Company
• TE Connectivity
• STMicroelectronics
• Honeywell International Inc.
• Analog Devices, Inc.
• Smiths Group Plc
• Sensirion AG
• Amphenol Corporation
• Medical Sensors India Pvt. Ltd.
• Starboard Medical, Inc.
• Life Signals

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Disposable Medical Device Sensor Market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.

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Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the Disposable Medical Device Sensor Market?
• Which factors are influencing the Disposable Medical Device Sensor Market over the forecast period?
• What are the global challenges, threats, and risks in the Disposable Medical Device Sensor Market?
• Which factors are propelling and restraining the Disposable Medical Device Sensor Market?
• What are the demanding global regions of the Disposable Medical Device Sensor Market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?

We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.

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Final Report will add the analysis of the impact of COVID-19 on this industry.”

In the highly import dependent Indian medical devices market, a large number of indigenous manufacturers of syringes & needles have managed to come up. However, it does not mean that imports are low for this market. Imports, as in the case with other medical devices, are quite high but the domestic manufacturers have been able to tap foreign markets through increasing exports. The target base of consumers is growing steadily which is expected to significantly boost sales in the market.

The report provides a snapshot of the syringes & needles market. It begins with the introduction section which mentions the features and uses of syringes & needles along with a brief description of the various phases in their development. The market overview section provides an insight into the market and highlights the market size. Import and export figures for syringes & needles, both in terms of volume and value have been provided in the next section. It also includes the regional break-up of the imports and exports.

An analysis of the drivers explains the factors leading to the growth of the market which include increasing need of insulin doses, increasing demand for vaccines, improving health infrastructure, growing incidence of diseases, changing demographics and health check-up packages. Some of the major challenges to the market are illegal recycling of syringes & needles and problems associated with usage. Government legislation in the market has been discussed in the next section.

The competition section highlights the features of the major players operating in the market. A brief profile of the major domestic and foreign players in the market along with their financials has been included in this section.

A section providing strategic recommendations has been given at the end of the report which gives effective solutions to existing and potential players for improving market share and increasing profitability. The Market report answers the following questions:

What is the aim of the report?

• The market report presents the estimated market size of Disposable Medical Device Sensor Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
• Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
• An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
• The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
• The various parameters accelerating the growth of Market are incorporated in the research report.
• The report analyzes growth rate, market size and valuation of the Market during the forecast period.

What aspects regarding the regional analysis Market are included in this report?

• Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
• The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
• The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
• Based on what factors are the key market players assessed in this report?
• The report offers detailed analysis of leading companies in the market across the globe.
• It provides details of the major vendors involved in the Market including Key Playes
• A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and
• the manufactured products is incorporated in the report.
• The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
• The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

What is the key information extracted from the report?

• Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.

• The report offers the present scenario and future growth prospects Market in various geographical regions.
• The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
• The SWOT analysis is conducted along with Porter's Five Force analysis.
• The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.