Disposable Medical Devices Sensors Market worth $6,212.7 Million by 2018

Wednesday 23 October 2013, Amsterdam

This new studyanalyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia, and Rest of the World.

This report studies the global disposable devices sensors market over the forecast period of 2013-2018. The market is valued at an estimated $3,831.6 m in 2013 and is poised to grow at a CAGR of 10.1% from 2013 to 2018, to reach $6,212.7 m by 2018.

Based on product type, the strip sensors market holds the largest share of 49.6% in 2013.  This large share is attributed to the extensive use of these sensors in homes as well as in clinics, for diagnostic purposes. However, the ingestible sensors market is poised to grow at the highest CAGR. Recently, the FDA lowered the regulatory bars for the launch of ingestible sensors and this is a major reason for the high growth of this market. Based on sensor type, image sensors are slated to witness the highest growth. This growth is likely to be driven by technological advancements, due to which products with superior technologies are being launched in the market. The launch of the CMOS chip-on-tip technology is one such example. Moreover, the cost effectiveness of capsule endoscopes as compared to the traditional process is another reason driving the growth of this market.

Based on application, the patient monitoring market is expected to witness the highest CAGR of 11.9%. The reason for this high growth is the rising elderly population across the globe.

The global disposable devices sensors market is dominated by North America, followed by Europe, Asia, and Rest of the World (RoW). The large share of North America is attributed to the colossal pool of HAI patients in this region. Rising healthcare costs and increasing government and venture capitalist investments are likely to drive the North American market further.   

The major players in the disposable devices sensors market include Analog Devices, Inc. (U.S.), Covidien Plc (Ireland), Freescale Semiconductor, Inc. (U.S.), GE Healthcare (U.K.), Given Imaging (Israel), Honeywell International, Inc. (U.S.), Measurement Specialties (U.S.), Medtronic (U.S.), Philips Healthcare (The Netherlands), Smiths Medical (U.S.), ST Microelectronics (Switzerland), and Sensirion AG (Switzerland), among others.