Proficient Market has published a new report titled “Global Medical Pressure Sensors Market”. According to the report, global medical pressure sensors market in 2018 stood at USD 841.43 million and is expected to reach USD 1,490.94 million by 2026 growing at a CAGR of 7.46% from 2019 to 2026.
The sensor is a device or module mostly utilize to diagnose, monitor or treat diseases in the medical domain are called as medical sensors. The sensors which is usually used in the medical domain includes temperature probes, implantable pacemaker, force sensors, airflow sensors, pressure sensors, oximeter, and many more. The medical sensors are used in different applications such as blood pressure monitoring, medical pump technology, dialysis equipment, body temperature measurement, and sleep monitoring. Various types of wearable sensors are available which include consumer wearable sensors, medical wearable sensors for the patients, and defense wearable sensors for the military. Medical sensors play a significant role in medical technology as they make medical equipment as well as devices more efficient, safer, and effective along with simplified operations. The rapid developments witnessed in the medical equipment and devices industry and the increasing number of government initiatives are estimated to drive the global medical sensors market.
Global Medical Pressure Sensors Market: Key Players
The research study includes profiles of leading companies operating in the global medical pressure sensors market. Key players profiled in the report include: Honeywell, NXP Semiconductors, Amphenol Advanced Sensors, First Sensor AG, TDK Electronics AG, FISO Technologies Inc., All Sensors Corporation, Merit Medical Systems and Others.
First Sensor shareholders tender 71.87 percent of shares into TE Connectivity’s takeover offer:
On September 19, 2019 First Sensor AG accept and support the takeover offer. Majority of First Sensor shareholders agree with the assessment that the transaction is to the benefit of First Sensor's shareholders, employees and customers. The acquisition is expected to be completed by the mid of 2020.
Drivers for the Global Medical Pressure Sensors Market:
According to current market condition, increasing demand for early disease diagnosis and widening scope of clinical applications, technological advancements in diagnostic imaging modalities, and rising investments, funds, and grants by public-private organizations are the factors driving the growth of this market. The major factors contributing towards the growth of medical sensors for non–invasive product includes rising demand for connected medical devices, increasing penetration of IoT-based medical devices, and advancement in medical technology. Other factors accelerating the growth of sensors for non-invasive product includes the rising demand for portable monitoring devices, and increasing adoption of IoT-based medical devices across the globe. Growing demand for pressure sensors in patient monitoring devices, respiratory devices, and drug delivery systems are major factors attributing to the higher adoption of pressure sensors. Factors such as the easy availability of wireless monitoring devices and the rising incidence of lifestyle and chronic diseases are expected to drive market growth during the forecast period.
Opportunities for the Global Medical Pressure Sensors Market:
The growing demand for patient monitoring devices in non-hospital settings is also expected to provide attractive growth opportunities for players in the medical sensors market. Pressure sensors are further expected to witness attractive growth due to the increasing adoption of invasive devices like peacemaker, spinal cord stimulator, gastric electric stimulator, and endoscope.
Restrains for the Global Medical Pressure Sensors Market:
However, poor reimbursement facilities and stringent government regulations can hamper the market growth over the forecast period. High costs of medical pressure sensors are one of the largest obstacles for commercialization of wide range of end-use applications is primarily expected to hinder the market growth. With concerns like availability of quality raw material at competitive prices, the manufacturer depends on the imports to meet their raw material needs and often have to pay highly for availing them thereby impacting profitability and capacity addition. Hence unavailability of raw materials is also expected to hamper the market growth.
Region Wise, Global Medical Pressure Sensors Market Analysis:
Region wise, global medical pressure sensors market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all, Asia Pacific leads the global medical pressure sensors market share due to higher expenditure on healthcare as a percentage of total GDP in countries like the China and India and the presence of a large number of medical device manufacturers in these region. Increasing investments in research and innovation centers and government programs and policies favoring the IT healthcare equipment and devices markets. Asia pacific is followed by the North America and Europe.
Global Medical Pressure Sensors Market: Product analysis
- MEMS Based Medical Pressure Sensors
- Pressure Transduce for Medical
Global Medical Pressure Sensors Market: Application analysis
- Respiratory Devices
- Patient Monitors Devices
- Diagnostics/Analytical Equipment
- Surgical Instruments
Global Medical Pressure Sensors Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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