Regional Insights
On the basis of region, the
global Disposable
Medical Sensors Market is segmented into North America, Latin America,
Europe, Asia Pacific, Middle East, and Africa. North America holds a dominant
position in the global disposable medical sensors market and is expected to
retain its dominance over the forecast period. This is owing to development of
technologically advanced integrated medical devices and solutions as well as
new entrants in the region involved in product innovations. For instance, True
Wearables, Inc., a medical device start-up based in California, introduced
Oxxiom, world’s first wireless, continuous and fully disposable single pulse
oximeter in January 2016 that measures arterial oxygen saturation, perfusion
index and pulse rates. Moreover, rising prevalence of patients suffering with chronic
diseases such as Type-1 diabetes that demand continuous monitoring of blood
glucose levels are expected to propel growth of the region in the global
market. According to the American Diabetes Association 2015, around 1.25
million children and adults in the U.S. suffered from diabetes.
Furthermore, Asia Pacific is
expected to witness a significant growth in the market, owing to developments
in healthcare infrastructure, increasing patient awareness, and increasing
incidence of chronic diseases. For instance, National Health Survey conducted
by Australian Government Department of Health, in 2015, suggested that nearly
23% of Australians aged above 60 years suffer from one or more chronic
diseases.
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Disposable medical sensors are
referred to as portable, compact, and handheld components that are used in
various medical devices for diagnostics, patient monitoring, and therapeutics.
The integration of disposable sensors into various medical devices
significantly benefits in remote patient monitoring and on-site patient
observation in healthcare settings such as hospitals, clinics, and ambulatory
surgical centers. Disposable medical sensors play a vital role in maintaining
sterility of the medical devices thereby resulting in reduction of hygiene
risks and offering safe solutions to the patients. Advancements in healthcare
IT has led to sensor-based devices that enhance performance of the medical
devices. In terms of remote patient monitoring, the disposable medical device
sensors play a crucial role in measurement of vital components that include
breathing rate, heart rate, pulse rate, temperature, blood oxygenation level,
and others. These sensors are used in medical devices or various medical
specialties such as radiology, cardiology, neurology, ophthalmology, urology,
and others. Moreover, these sensors are also used in diagnostic devices and
disposable test strips that perform identification of certain microbial strains
such as bacteria, fungi, and virus used in the detection and confirmation of
infectious diseases.
Market Dynamic
Rising incidence of chronic
diseases leading to increasing need for faster and efficient diagnostics,
therapeutics, and patient monitoring is expected to drive demand for disposable
medical sensors. Chronic conditions such as cardiovascular diseases, diabetes,
cancer, strokes, chronic obstructive pulmonary diseases, and obesity are among
the most commonly encountered chronic diseases in the world. According to the
World Health Organization (WHO) 2017, the global prevalence of cancer has risen
from 4.7% of the total world population in 1980 to 8.5% in 2014, which
accounted for nearly 422 million patients suffering from the disease in 2014.
Moreover, WHO also states that the Global Burden Disease Study reports a
prevalence of 251 million patients suffering with chronic obstructive pulmonary
diseases (COPD) in 2016. Patient monitoring and diagnostic devices used for
treatment of these patients incorporating disposable medical sensors is thus,
expected to augment the market growth.
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Moreover, advancements in micro-technologies
such as microfluidic chips, medical MEMS, and lab-on-a-chip technologies are
expected to support the market growth during the forecast period. For instance,
according to a research article published in MEMS Journal 2018, disposable and
non-disposable medical sensors are advantageous in miniaturizing components and
systems of MEMS and also helps in reduction of cost of the systems. However,
unfavorable reimbursement policies for medical devices integrated with
disposable sensors are expected to hinder the market growth.
Competitive Insights
Key players operating in the
global disposable medical sensors market include Medtronic Plc, Koninklijke
Philips N.V., GE Healthcare, FreeScale Semiconductors, Omnivision Technologies,
Inc., Smiths Medical, Analog Devices, Inc., Honeywell International, Inc., and
others. Market players are focused towards providing technologically advanced
products to sustain their presence in the market. For instance, in October
2014, Sensirion AG introduced a disposable liquid flow sensor solution for
medical devices that provides compact and cost-effective solution for safer and
reliable automatic drug delivery at hospitals and home based settings.
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