Seattle, WA -- (SBWIRE) -- 11/11/2019 -- Medical sensors that measure the physical functions of the body and convert it into an electrical or optical signal. These devices play a major role in the monitoring of chronic diseases such as cancer, cardiovascular and respiratory diseases to measure the physical function and convert it into the electrical signal. Furthermore, chronically ill patients and geriatric population are the target area for sensor-based devices, for instance as per National Institute of Aging, there are around 617 million people above the age of 65 years in 2016 and it will cross 1.6 billion by 2050.
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Medical sensors have become a universal segment of the technologically advanced and digital medical devices. There is a significant increase in the development of implantable and wearable medical devices, which facilitate the awareness about medical devices this leads to the increased use of sensors. It is expected that rise in geriatric population, increase in chronic diseases such as chronic obstructive pulmonary disease (COPD), cardiovascular disease, kidney disease and respiratory disease and rise in intensive care for critical patients are the responsible factors supports the growth of medical sensors market. As per Centers for Disease Control and Prevention, there are around 15.7 million people in the U.S. diagnosed with COPD in 2014.
Furthermore, there is a wide range of benefits of the use of medical sensors in medical devices, which increased the accuracy in disease management through notifications alerts, and real time patient data communication. Which expected to support the growth of medical sensors market.
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Medical sensors market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East and Africa. North America is the leading region due to the annual increase in minimally invasive surgeries performed and availability of healthcare reimbursement policy. However, market across Asia Pacific is expected to expand at a higher rate due to, increase in diabetic population, respiratory diseases cases, cardiovascular disease and raised investment in healthcare sector in emerging countries such as India and China expected to support the growth of medical sensors market.
There are various players present across the globe and running into the competition. The rise in awareness about devices and increase in per capita income of individuals expected to create more opportunities for industry players in global medical sensors market. Some key players are Analog Devices Inc., Broadcom Limited, Danaher, LORD Corporation, Honeywell International Inc., OmniVision Technologies Inc., and GE Measurement & Control.
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