Increasing Demand for Medical Sensors and Use of Sensors in Covid-19 Tracking to Augment Growth of Medical Sensors Market

 


Medical sensors are becoming an integral part of medical facilities throughout the world. They enable facilities to monitor all aspects of patient care, from room temperature to vital signs, from pulse rates to oxygen levels, and more. This is a new frontier in patient care that has the potential to dramatically save money and reduce staff fatigue.

A medical sensor system can include a variety of different instruments in various formats, ranging from a simple temperature probe attached to a belt clip to highly sophisticated electronic devices capable of monitoring dozens of different parameters. The most common type of medical sensor is a small portable electronic device that is affixed to a person's skin or clothes. These are designed for use in a wide variety of patient care settings including hospitals, rehabilitation centers, and home health care agencies. They are often used by cardiologists and nurses to monitor heart rates and pulse rates as well as measurements of blood pressure and respiration.

Market Dynamics

Increasing demand for medical sensors is expected to propel growth of the global medical sensors market. For instance, 2020, OSI Systems, Inc. announced that its Optoelectronics division received an order to provide optical sensors for use in medical devices from a leading healthcare original equipment manufacturer. Moreover, high prevalence of chronic diseases is also expected to aid in growth of the market. For instance, according to the study, “Global and regional diabetes prevalence estimates for 2019 and projections for 2030 and 2045: Results from the International Diabetes Federation Diabetes Atlas, 9th edition”, published in the journal Diabetes Research and Clinical Practice, in September 2019, 463 million people are expected to suffer from diabetes in 2019 worldwide and the number is expected to reach 578 million by 2030 and 700 million by 2045.

Use of sensors in COVID-19 tracking and increasing cases of Covid-19 is expected to offer lucrative growth opportunities for players in the global medical sensors market. For instance, globally, as of 10:20am CET, 24 February 2021, there have been 111,593,583 confirmed cases of COVID-19, including 2,475,020 deaths, as reported to the World Health Organization. Moreover, launch of platforms for managing sensors is also expected to aid in growth of the market. For instance, in February 2021, Medidata, a Dassault Systèmes company, launched Sensor Cloud, a transformative platform for managing a broad range of sensor and digital health technology data during the clinical trial process.

Competitive Analysis

Major players operating in the global medical sensors market include, Medtronic Plc, Koninklijke Philips N.V., GE Healthcare, FreeScale Semiconductors, Omnivision Technologies, Inc., Smiths Medical, Analog Devices, Inc., Honeywell International, Inc., Broadcom Limited, Danaher Corp., LORD Corporation, OSI Systems, Inc., Avago Technologies Limited, Measurement Specialties, Micro-Epsilon Messtechnik, Amphenol Advanced Sensors, and Sensirion AG.

Major players in the global medical sensors market are focused on adopting partnership strategies to expand their product portfolio. For instance, in July 2020, Amphenol Advanced Sensors partnered with Andhra Pradesh MedTech Zone Ltd. to develop medical grade sensors and sub-assemblies and power electronics.


Comments

Post a Comment

Popular posts from this blog

Increasing Consumption and Production of Fertilizers to Upsurge the Growth of the Agrochemicals Market

Image
  Agrochemical products are those chemicals that are used to increase the production of an agricultural environment. Agrochemical chemicals typically include pesticides, fertilizers, lime precursors, acidizing and alkalizing agents (all of which are designed to alter the normal pH level of the soil), lime stabilizers, and other nutrients that are required for plant growth. These chemicals are widely used by farmers and are crucial to the functioning of modern agriculture. The use of these chemicals presents a number of concerns both from the perspective of the environment and the human body. The increasing need for improving crop production due to the growing concern of food security and lack of arable land is fueling the growth of agrochemicals market . Growing advancement in technology is raising adoption of advanced and sustainable farming practices which is again propelling the growth of the market. The increasing population coupled with the growing usage of fertilizers aroun...
Read more

High Prevalence of Cancer and R&D in Anti-Cd39 Antibodies to Augment Growth of Anti-body Coupled T Receptor Therapy Market

Image
  Antibody-Coupled T cell Receptor (ACTR) is an autologous engineered T cell therapy that combines the Fc receptor, CD16, with endogenous T cell signaling and costimulatory domains. It is combined with tumor-targeting antibodies to exert potent anti-tumor immune responses and eliminate cancerous cells. ACRT has demonstrated potential in the treatment of multiple myeloma and HER2+ advanced cancers. Market Dynamics R&D in anti-CD39 antibodies is expected to propel growth of the Anti-body Coupled T Receptor Therapy Market . For instance, in December 2020, Arcus Biosciences, Inc. expanded its existing partnership with WuXi Biologics, a developer of biologics technology platforms, for R&D in anti-CD39 antibodies using WuXi Bio’s proprietary technology. Moreover, high prevalence of cancer is also expected to aid in growth of the market. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 ...
Read more

Increasing Prevalence of Muscular Dystrophy to Augment the Muscular Dystrophy Treatment Market Growth

Image
  Muscular dystrophy is a common disease that causes muscles to become weaker and unable to continue to develop properly. Because it often affects young children as well as adults, it can be difficult to detect. However, once symptoms are noticed, steps must be taken to prevent the disease. There are many treatment options available for muscular dystrophy. The severity of the disease will determine what type of treatment is best for your situation. Muscular dystrophy treatment involves breathing aids, therapy, surgery, or medication, which may help maintain function, but life span is often shortened. Market Dynamics: Increasing prevalence or incidence of muscular dystrophy, especially in the North America, is expected to propel the growth of the muscular dystrophy treatment market . For instance, one in 3,500 male babies born worldwide are affected with Duchenne muscular dystrophy (DMD), according to the National Organization for Rare Disorders. Moreover, in 2019, around 349 ne...
Read more