Global Disposable Medical Device Market Forecast 2016-2024

Global Disposable Medical Device Market Forecast 2016-2024

  • April 2017 •
  • 145 pages •
  • Report ID: 4825328
KEY FINDINGS
The global market for disposable medical device sensor market is poised to grow at a CAGR of 10.49% during the forecast period of 2017 and 2024. The considered base year for the market study is 2016. The forecast period is between 2017 and 2024. The significant rise in diabetic population is anticipated to attribute towards the market growth of disposable medical device sensors. The rise in geriatric population base has generated the high demand for constant monitoring & diagnosis which in turn is propelling the growth of disposable medical device sensors market.

MARKET INSIGHTS
The global disposable medical device sensor market is segmented on the basis of product, application, placement of sensors, and by geography. The global disposable medical device sensor market by product is segmented into accelerometers, biosensors, pressure sensors, image sensors, temperature sensors.

The market by application is further segmented into patient monitoring, diagnostics testing, and therapeutics. The disposable medical device sensor market by placement of sensors is segmented into wearable sensors, invasive sensors, strip sensors, and ingestible sensor. The market by geography is further segmented into North America, Europe, Asia-Pacific and rest of the world. Innovation in Government Backing, Enhanced Funding, and Support Required for Cost Effectiveness, Non-Invasive Miniature Devices, and Technological Advancements are the major drivers driving the Global Disposable Medical Device Market. The government has a key role in the development of healthcare as a regulator, market share, and player. In most of the developing countries, the government is the primary funder of the healthcare.

REGIONAL INSIGHTS
North America held the biggest revenue share of around 41.3% in 2016 in the global disposable medical device sensors market. It is expected to grow at CAGR of 10.3% during the forecast period. The increased healthcare spending by the US is one of the major factors driving the medical disposable sensors market in the United States. Asia-Pacific is expected to grow at a faster rate due to the rapidly growing healthcare sector. Healthcare sector in Asia-Pacific is estimated to grow by 7% per annum during period 2015-2020.

With huge population base, rising middle-class income, government initiatives towards healthcare systems are all paving way towards a positive forecast for the healthcare sector in India. Increasing disposable income population, rising prevalence of NCDs and aging population are the major driving factors for China’s healthcare. In Asia Pacific, Japan is expected to grow at a higher rate of CAGR 12.25%. Europe is a leading market in healthcare following North America. Innovations and the various ranges of medical device sensors such as temperature sensors, pressure sensors are enhancing the quality, efficacy, and safety of healthcare in Europe. In Europe, UK holds the largest market share in 2016.

COMPETITIVE INSIGHTS
Analog devices, Covidien plc (acquired by Medtronic), GE healthcare, Hmicro Inc., Honeywell, LifeScan, Inc. (acquired by johnson & johnson), Masimo corporation, Medtronic, Olympus corporation, Omnivision technologies, Philips healthcare, Sensirion ag, Smiths medical, STMicroelectronics, TE connectivity.