According to the Vision Research Reports, the global medical sensors market is projected to reach $29.7 Billion by 2027 at a CAGR of 11.2% from 2019 to 2027. The global medical sensors market was valued at $13,443.1 Million in 2018.
Talking Points
- Increasing government initiatives for the adoption of mHealth products and rise in adoption of Internet of Things (IoT) and other medical advancements are propelling the global market.
- Increase in public and private investments in mHealth products and rise in adoption of smartphones and other electronics with sensor technology boost the growth of the global medical sensors market.
- Key players operating in the global medical sensors market include Cardiomo, Honeywell International, Inc., TE Connectivity, Dexcom, Inc., Medtronic, Danaher Corporation, First Sensor AG, Sensirion AG, Smiths Groups plc, and GluSense Ltd.
- The medical sensors market in Asia Pacific is expected to expand at a CAGR of 11.4% during the forecast period.
- The U.K. Government Department of Health started the NHS digitization initiative in 2016 and allocated over US$ 6.0 Bn for it.
- Google and Novartis launched their combined plan in 2014 to create a connected lens with the ability to monitor blood glucose levels by analyzing an individual’s tears.
- Implantable sensors projected to account for 28.5% share of the market by 2027.
- The hospitals segment held the major share of the global market in 2017.
- The home care settings segment is anticipated to expand at a CAGR of 12.7% during the forecast period.
- Americas dominated the global market in 2017. The market in the region was valued at $6.27 Billion in 2017.
- The medical sensors market in the Americas is projected to expand at a CAGR of 9.0% during the forecast period.
- The medical sensors market in Asia Pacific is expected to expand at a CAGR of 11.4% during the forecast period.
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