North America Biomedical Sensors Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type ; Sensor Type ; Product ; Application

North America Biomedical Sensors Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type ; Sensor Type ; Product ; Application

  • May 2021 •
  • 153 pages •
  • Report ID: 6075732 •
  • Format: PDF
The North America biomedical sensors market is expected to reach US$ 5,909.54 million by 2027 from US$ 3,313.94 million in 2019. The market is estimated to grow at a CAGR of 7.5% during 2020–2027.

The growth of the North America biomedical sensors market is attributed to the key driving factors such as the rising incidence of lifestyle-based diseases and an increasing adoption of biomedical sensors. However, the security concerns regarding the use of biomedical sensors hinder the market growth.

Biomedical sensors are used in regular health monitoring. According to the World Health Organization (WHO), it is estimated that nearly 17.9 million people die due to cardiovascular diseases worldwide, which accounts for 31% of all the deaths worldwide. The increasing incidence of cardiac arrest, high blood pressure, and strokes surges the demand for point-of-care monitoring sensors. Moreover, numerous awareness programs have been organized by governmental organizations to control and prevent diseases. For instance, the National Heart Disease and Stroke Prevention Program and Lipid Standardization Program are conducted by Centre for Disease Control and Prevention (CDC) to create awareness among the population. These programs consist of trainings and campaigns to spread awareness regarding the ill effects of cholesterol; also, provide education to the hospital staffs. Thus, the rising incidence of lifestyle-based diseases drives the market’s growth.

North America reported the rising number of COVID-19 positive cases since its outbreak.The clinical and product development engine is experiencing significant disruption as researchers and clinicians are adjusting to work in remote environments and lab capacity is reduced.

Clinical trials are also severely affected by disruptions in both new enrolment and in keeping existing patients on therapies.The impact of COVID-19 outbreak has placed many biomedical sensors companies under pressure.

However, the demand for R&D activity is increasing that is leading to a rise in medical device assistance for the detection of COVID-19, which is driving the medical device industry. For instance, the researchers of the University of Illinois Grainger College of Engineering developed an ultrasensitive test using a paper-based electrochemical sensor that is capable of detecting the presence of the coronavirus in five minutes.

The Government of Canada invested $25.8 million in COVID-19 research to contribute to the global efforts for research on medical counter measures against COVID-19. For instance, a research project on “Rapid, Ultrasensitive Clinical Detection of 2019 Novel Coronavirus (nCOVID-19) by Novel Microfluidic Electrochemical Nano-Biosensors” was funded US$ 0.79 million. During the first wave of COVID-19 outbreak, the Government of Canada provided the funding of $26.8 million for COVID-19 research projects through the CIHR, the Natural Sciences and Engineering Research Council of Canada (NSERC), the Social Sciences and Humanities Research Council (SSHRC), the International Development Research Centre (IDRC), the Canada Research Coordinating Committee (CRCC) through the New Frontiers in Research Fund (NFRF), and Genome Canada (GC). Thus, increasing funding by the government in research and development activities is anticipated to bolster the growth of the biomedical sensors market.

Based on type, the North America biomedical sensors market is bifurcated into wired and wireless. The wireless segment held a larger market share in 2019, also the same segment is anticipated to register a higher CAGR in the market during the forecast period.

By sensor type, the North America biomedical sensors market is segmented into temperature, pressure, image sensors, biochemical, inertial sensors, motion sensors, electrocardiogram (ECG), and other sensor types. The temperature segment held the largest market share in 2019, whereas the motion sensors segment is anticipated to register the highest CAGR in the market during 2020–2027.

The North America biomedical sensors market, by product, is bifurcated into invasive sensors and non-invasive sensors. The non-invasive sensors segment held a larger market share in 2019, also the same segment is anticipated to register a higher CAGR in the market during the forecast period.

Based on application, the North America biomedical sensors market is segmented into medical diagnostics, clinical therapy, imaging, and personal healthcare. The medical diagnostics segment held the largest market share in 2019, whereas the personal healthcare segment is anticipated to register the highest CAGR in the market during 2020–2027.

A few of the major primary and secondary sources referred to while preparing the report on the North America biomedical sensors market are Natural Sciences and Engineering Research Council of Canada (NSERC), the American Heart Association, and Heart Rhythm Society .
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