Market Revenue Disposable Medical Sensors Industry Production | Page 3

The disposable medical sensor market is segmented by application into diagnostic testing devices, patient
monitoring devices, therapeutic devices and imaging devices. In 2013, diagnostic testing devices application
segment accounted for major market share and owing to rising prevalence of chronic disease coupled with
increasing geriatric population base the segment is anticipated to witness similar trend by 2020. On the other
hand, patient monitoring devices segment is projected to report the fastest growth over the forecast period
majorly due to growing number of patients suffering from diabetes and cancer. The aforementioned factors are
attributed to expect significant sector growth over the next seven years.
Regional Insights
North America and Europe are anticipated to witness major market share of more than 50% over the forecast
period owing to the growing need to curtail escalating healthcare costs, rising number of incidence of HAIs and
increasing use of portable medical devices for the homecare medical applications. Particularly, the UK, Germany,
Italy, France and the US are projected to account for growth in the region primarily due to rising R&D endeavours
to develop low cost, high quality, and easily operated medical devices.
Asia Pacific is anticipated to account for fastest growth by 2022 majorly due to the growing awareness regarding
benefits of disposable medical sensors and increasing technological advancements. India, China, and Japan are
anticipated to report the highest share in the region primarily due to the rising disposable income and changing
lifestyle. The Middle East & Africa is projected to see significant growth by 2022 mainly owing to increasing
urbanisation, globalisation, and industrialisation. The sector has huge potential in this region primarily owing to
rising per capita income and foreign investments.
Competitive Insights
Key players of the market include Honeywell International Inc., Covidien Plc, Analog Devices, Inc., Given Imaging,
Freescale Semiconductor Inc., Measurement Specialties GE Healthcare, Philips Healthcare, Medtronic, Smiths
Medical, STMicroelectronics, and Sensirion AG. The aforementioned companies account for more than 40% of
the market share. Companies through mergers & acquisitions and strategic expansions have been trying to cater
large volume of customers with medical sensor devices that are cost effective, easily portable and disposable.
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