Global Sensors in Healthcare Applications Market: Demand Analysis and Growth Forecast

The sensor in devices consist of single processor, transducer or detector elements, and biological element. Sensors in the healthcare industry deliver precise and proficient results in processes such as sensing, monitoring, testing, and imaging, and the market for the same is foreseen by an IndustryARC report to flourish in the near future. The report evaluates the global sensors market in healthcare applications to be worth $18 billion to $20 billion as of 2018, and projects the demand to increment at an impressive CAGR of 8% to 10% during the forecast period of 2019 to 2025. The report is titled “Sensors in Healthcare Applications Market: By Type (Temperature, Pressure, Chemical, Bio, Level, Flow, Position & Others) & By Application (Patient Monitoring, Diagnostics, Therapeutics, Imaging and Others) With Forecast (2019-2025).”

Sensors can be of two types in healthcare application including implantable as well as wearable devices. Implantable sensors are used to provide interface between a user and an information system. Wearable sensors can be used for different functions such as measure of physiological changes or some other conditions in body such as temperature and respiration. 

According to the UNFPA, the population of older people in APAC region is rising with drastic rate. It is estimated that aging population will reach to 1.3 billion by 2050. Huge amount of aging population mostly requires the devices that can monitor them remotely, and constantly, a solution offered by sensor market players targeting the healthcare industry. 

Browse 52 Market Tables, 176 Figures spread through 138 slides and an in-depth TOC “Sensors in Healthcare Applications Market (2019 - 2025)

Global Sensors Market in Healthcare Applications: Leading Segments

IndustryARC highlights that APAC dominated the demand in sensors market in healthcare application with a regional share of more than 30% in 2018. Furthermore, medical imaging is the leading application that will grow with a CAGR of more than 15% during the forecast period. Apart from government support to improve healthcare facilities, the APAC region is gaining traction from increased purchasing power of urban population, which has enticed the mushrooming of private hospitals. 

Global Sensors in Healthcare Applications Market: Trends

  • Internet of Things (IoT) is widely used in healthcare applications to achieve the goal of chronic disease management. Sensors enabled with IoT gather physiological information and then sends the analyzed data wirelessly to other remote locations. 
  • Rate of mortality is increasing due to cardiovascular diseases.  New innovation to avoid sudden attacks are developed in the form of heartbeat sensors. This device allows constant monitoring of heart rate, pulse rate, and electrocardiogram (ECG) by screening current health standings clearly, efficiently, and accurately.
  • Smart wearable sensors are gaining a lot of attraction due their self-monitoring and self-tracking capabilities. They are prevalently used by youngsters and opening up new revenue avenues in the global sensors market in healthcare applications. 
  • An investigation team from National University of Singapore (NUS) has established a flexible, stretchable, and soft microfiber sensor that can be used for immediate monitoring and diagnosis. This sensor is ultra-thin and highly sensitive with the diameter of strand of hair. The sensor can help measure the individual pulse waveform and this information can be differentiated to determine blood pressure, stiffness in blood, and health rate. The major feature of the novel sensor is that it can detect atherosclerosis, that is caused due to thickening and stiffening of the arteries and can cause patient suffer from organ failure. This sensor is cost effective and hence gaining huge demand in the sensors market in the healthcare industry. 
  • For the patients who can’t go out for diagnosis, various manufacturers are pursuing efficient ways to provide care at less cost to the patient, hence telemedicine demand has grown.  Telemedicine allows medical doctor and patients to interconnect in real time. Such meetings can be accompanied in the patient's home and include telephone discussions, or the use of video conferencing software for remote patient monitoring. 
  • Rehabilitation robotics have been used in training medicine, surgery, and remote surgery. Rehabilitation robotics can work on virtual reality technology. Additionally, robots can execute medical tasks like exercises some of which are not easy to do by human beings. So, the pneumatic robots will be incorporated which help people with conditions such as strokes and other illnesses which cause a disorder in the upper limb. These robots helps to combine movements of flexion/extension and abduction/adduction. This helps the patients to restore their mobility.
  • Global Sensors in Healthcare Applications Market: Competitive Landscape
  • Some of the key players in the sensors in healthcare applications market are Smiths Group, Honeywell, GE, STMicroelectronics, MSI, Analog, TI, NXP, First Sensor, Medtronic, TE Connectivity, Murata, and Sensiron. 

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