Medical Sensor Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Medical Sensor Market Trends and Forecast

The future of the global medical sensor market looks promising with opportunities in the hospital, clinic, and home care setting segments. The global medical sensor market is expected to reach an estimated $31.9 billion by 2028 with a CAGR of 13.5% from 2023 to 2028. The major drivers for this market are growing demand for portable and connected medical devices and increasing application of medical sensors in the clinic and home care applications.

Medical Sensor Market by Product, Placement Type, Application, and End Use

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Medical Sensor Market by Segments

Medical Sensor Market by Segment

The study includes trends and forecast for the global medical sensor market by product, placement type, application, end use, and region, as follows:

Medical Sensor Market by Product [Value ($B) Shipment Analysis from 2017 to 2028]:

Biosensors

Temperature Sensors

Motion Sensors

Image Sensors

Flow Sensors

Pressure Sensors

Others

Medical Sensor Market by Placement Type [Value ($B) Shipment Analysis from 2017 to 2028]:

Wearable Sensors

Wireless Sensors

Implantable Sensors

Others

Medical Sensor Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

Diagnostics

Imaging Diagnostics

Analytical Equipment Diagnostics

Monitoring

Invasive Monitoring

Non-invasive Monitoring

Therapeutics

Surgery/Minimally Invasive Surgery

Drug Delivery / Infusion

Others

Wellness and Fitness

Others

Medical Sensor Market by End Use [Value ($B) Shipment Analysis from 2017 to 2028]:

Hospitals

Clinics

Home Care Settings

Others

Medical Sensor Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

North America

Europe

Asia Pacific

The Rest of the World

List of Medical Sensor Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, medical sensor companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the medical sensor companies profiled in this report include--

GE Healthcare

STMicroelectronics

Honeywell

Omron

TE Connectivity

Medical Sensor Market Insights

Lucintel forecasts that biosensors will remain the largest segment over the forecast period due to the growing usage for these sensors in laboratories and home care setting owing to their capabilities of real-time diagnosis and monitoring.

Hospital is expected to remain the largest segment due to a higher volume of patients and the increasing application of multipurpose sensors in hospital equipment.

North America will remain the largest region due to well-established healthcare infrastructure, adequate reimbursement policies, and the growing demand for advanced medical equipment in the region.

Features of the Medical Sensor Market

Market Size Estimates: Medical sensor market size estimation in terms of value ($B)

Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.

Segmentation Analysis: Medical sensor market size by various segments, such as by product, placement type, application, and end use

Regional Analysis: Medical sensor market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.

Growth Opportunities: Analysis on growth opportunities in different products, placement types, applications, end uses, and regions for the medical sensor market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape for the medical sensor market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the medical sensor market size?

Answer: The global medical sensor market is expected to reach an estimated $31.9 billion by 2028.

Q2. What is the growth forecast for medical sensor market?

Answer: The global medical sensor market is expected to grow with a CAGR of 13.5% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the medical sensor market?

Answer: The major drivers for this market are growing demand for portable and connected medical devices and increasing application of medical sensors in the clinic and home care applications.

Q4. What are the major segments for medical sensor market?

Answer: The future of the medical sensor market looks promising with opportunities in the hospital, clinic, and home care setting segments.

Q5. Who are the key medical sensor companies?

Answer: Some of the key medical sensor companies are as follows:

GE Healthcare

STMicroelectronics

Honeywell

Omron

TE Connectivity

Q6. Which medical sensor segment will be the largest in the future?

Answer: Lucintel forecasts that biosensors will remain the largest segment over the forecast period due to the growing usage for these sensors in laboratories and home care setting owing to their capabilities of real-time diagnosis and monitoring.

Q7. In medical sensor market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region due to well-established healthcare infrastructure, adequate reimbursement policies, and the growing demand for advanced medical equipment in the region.

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

• Q.1. What are some of the most promising, high-growth opportunities for the medical sensor market by product (biosensors, temperature sensors, motion sensors, image sensors, flow sensors, pressure sensors, and others), placement type (wearable sensors, wireless sensors, implantable sensors, and others), application (diagnostics, monitoring, therapeutics, wellness and fitness, and others), end use (hospital, clinic, home care settings, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?