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Published on : May 27, 2016

Sensors within the medical play a key role for measuring the physical property on the basis of optical signal. Therefore, medical sensors have been utilized in a broad areas of engineering, medical technology, surgical equipment, engineering, and other applications. 

The industry outlook of medical sensors has been highlighted as follows:

  • Biosensors Held the Largest Share in 2014: The global market for medical sensors is segmented into flow sensors, biosensors, image sensors, accelerometers, pressure sensors, temperature sensors, SQUID sensors, and others. Amongst these, the segment of biosensors led the market with a share of 47.4% in the market due to their increasing utilization within the healthcare sector.
  • Monitoring and Therapeutic Application Segments to Lead Market in Forthcoming Years: The surgical segment of the market dominated in 2014 in terms of application and constituted a share of 35.7% in the overall market. However, it is predicted to lose some of its share by 2023 due to the increasing growth rate of the monitoring and therapeutic segments. Both monitoring and therapeutic segments are anticipated to rise exponentially in forthcoming years owing to their rising utilization within the developing economies and the rising adoption of new monitoring applications.
  • Use of Medical Sensors to Remain Highest in Hospitals: On the basis of end use, the segment of hospitals held the largest share in the market in 2014 and is predicted to maintain its superiority in the coming years. This is owing to the increasing penetration of innovative, cost-effective, and sophisticated products in the market. On the other hand, the segment of home healthcare and nursing home are also predicted to rise exponentially in the coming years.
  • North America Medical Sensors Market to Remain on Top: Out of the key geographical regions such as Europe, North America, Latin America, Asia Pacific, and Rest of the World (RoW), the North America medical sensors market dominated the largest share in 2014 and is predicted to maintain its superiority in the coming years. However, the region of Asia Pacific is also predicted to rise exponentially owing to the rising count of patients having chronic ailments including diabetes and respiratory disorders. 

Measurement Specialties, Honeywell International, NXP Semiconductors, and Danaher Corporation, among others are the chief players operating the global medical sensors market.