As per the report titled ‘Global Medical Sensors Market Size study, by Type (Pressure Sensors, Temperature Sensors, Blood Glucose Sensors, Electrocardiogram (ECG) Sensors, Blood Oxygen Sensors, Image Sensors, Others), Product (Non-Invasive, Invasive), by Application (Diagnostic Imaging, Patient Monitoring, Medical Implants & Endoscopy), by End-User (Hospitals & Clinics, Nursing Homes & Home Care Settings, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global medical sensors market was valued at USD 1.1 billion in 2019 and is projected to record a y-o-y growth rate of 7% during 2020-2027.
 

Growing need for effectively measurement and detection of various parameters & analytes, upsurge in demand for portable wearable sensors & medical devices, increasing healthcare expenditure, and rising burden of chronic diseases are driving global medical sensors market growth, cites the study. 
 

As per American Heart Association, the number of deaths caused by CVDs (cardiovascular diseases) is anticipated to rise to 23.6 million by the year 2030. Whereas, according to Center for Disease Control and Prevention, CVDs claim lives of nearly 610,000 individuals each year in the United States. In addition, the Covid-19 pandemic has accelerated the demand for medical sensor for identifying/monitoring patient’s condition. On the contrary, poor reimbursement scenario and strict government norms are negatively impacting global medical sensors market outlook.
 

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For the uninitiated, medical sensors are a part of monitoring system. They respond to physical stimuli, decrease human errors, and have applications like observing alcohol level in blood, breathing analysis, and eye parameters among others. Moreover, use of these sensors in patient care, logging efforts of pharmaceutical, and tracking other test materials is propelling global medical sensor market remuneration.
 

Considering the regional outlook, global medical sensors market is fragmented into North America, Asia Pacific, Europe, Latin America, and Rest of the World. According to trusted estimates, North America currently accounts for majority market share, supported by high concentration of industry players and increasing healthcare spending across the region.
 

On the other hand, Asia Pacific medical sensors industry is expected to grow exponentially in the coming years owing to increased pervasiveness of chronic diseases and developing healthcare sector.
 

Key players influencing global medical sensors market trends are Proteus Digital Health Inc., Amphenol Corp., Sensirion AG, NXP Semiconductors N.V., STMicroelectronics, Tekscan Inc., Medtronic plc, First Sensor AG, TE Connectivity, and Texas Instruments Inc.