Market Revenue Disposable Medical Sensors Industry Production | Page 2

The increasing adoption of strip and wearable medical sensors that help in continuous patient diagnosis is
expected to open new opportunities in the industry, thus boosting the growth by 2020. Increasing R&D
endeavours with technological advancements has enabled the disposable medical sensor industry to witness
advanced products including MEM sensor technology for detecting C - reactive protein, fibre optic technology,
and cancer tracking sensors, which are anticipated to propel the market demand over the forecast period.
Product Insights
The disposable medical sensors industry is majorly segmented by product into temperature sensors, biosensors,
accelerometers, pressure sensors, and image sensors. Image sensor segment is projected to witness the fastest
growth of more than 22% CAGR over the forecast period owing to rising awareness and acceptance of CMOS
image sensors. On the other hand, biosensors are anticipated to account for the largest market share of more
than 65% over the next seven years primarily due to the growing usage of endoscopy products such as camera
pills and increasing need of endoscopic procedures for numerous medical operations.
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The market is also bifurcated by placement of sensors into strip sensors, implantable sensors, invasive sensors,
ingestible sensors, and wearable sensors. Strip sensors are anticipated to account for a major market share of
more than 45% over the next seven years and thus reaching USD 2.94 billion by revenue in 2020. Strip sensor
market is expected to witness a growth rate of more than 10% over the next seven years owing to rising
diagnostic applications globally and growing awareness regarding disposable medical sensors cost effectiveness.
In addition, increasing penetration of domestic healthcare medical sensor products coupled with home care
glucose monitoring is also projected to fuel the sector growth over the next seven years.
Technology Insights
The industry segmentation on the basis of technology includes pressure sensors, image sensors, accelerometers,
biosensors and temperature sensors. Rising demand for constant diagnostic and monitoring devices including
blood glucose monitors and cardiac pacemakers are the few dynamics likely to propel the biosensor segment
market over the next seven years. The biosensors segment is thus anticipated to account for major market share
by 2020.
Application Insights