Dublin, May 13, 2024 (GLOBE NEWSWIRE) -- The "Global Medical Sensors Market by Sensor Type (Pressure, Temperature, ECG, Image, Touch, Blood Oxygen, Blood Glucose Sensor), End-Use Product, Medical Procedure (Invasive, Noninvasive), Device Classification, Medical Facility & Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global medical sensors market is valued at USD 2.4 billion in 2024 and is projected to reach USD 3.6 billion by 2029; it is expected to grow at a CAGR of 8.1% from 2024 to 2029. Growth outlook of healthcare industry, and advancements in sensors and digital technologies provide lucrative opportunities to the medical sensors market. 
Ingestible sensors segment to register highest growth rate during the forecast period
The medical sensor market is expected to see the highest growth rate in ingestible sensors during the forecast period. Ingestible sensors offer a way to monitor internal physiological processes with minimal invasion which aligns with the growing trend toward minimally invasive medical procedures.
Advancements in miniaturization, biocompatibility, sensor technology, and wireless data transmission have made ingestible sensors more reliable, efficient, and user-friendly. Ingestible sensors can provide real-time data and access hard-to-reach areas within the digestive tract, potentially leading to improved diagnosis and treatment of various medical conditions.
Diagnostic Imaging Devices in Asia Pacific is expected to register highest growth rate during the forecast period
The medical sensors market for diagnostic imaging devices in Asia Pacific is expected to grow at the highest growth during the forecast period. The increasing elderly population in countries such as Japan and China has led to the increased adoption of advanced medical devices due to the increasing number of people suffering from various cardiological, neurological, and musculoskeletal disorders.
Hence, medical facilities in such countries are extensively using advanced medical imaging devices for improved diagnosis. The increasing number of initiatives taken by the governments in developing countries such as India and China to support the manufacturing of advanced medical devices is also expected to drive the growth of the medical sensors market for diagnostic imaging devices in Asia Pacific.
Brazil in South America is expected to hold the largest market share during the forecast period
Brazil held the largest share of the medical sensors market in South America in 2023. Rising investments in healthcare and the increased awareness and adoption of advanced medical devices are expected the drive the growth of the medical sensors market in Brazil.
Factors such as technological advancements and the rising number of people suffering from chronic diseases are also expected to drive the market growth in Brazil. However, the improvement of the healthcare ecosystem and private healthcare systems and the growing demand for advanced medical devices are driving the market growth in Argentina. Argentina is projected to register the highest growth during the forecast period.
Research Coverage
The report defines, describes, and forecasts the medical sensors market based on Sensor Type, End-use Product, Medical Procedure, Medical Facility, Medical Device Classification, and Region. It provides detailed information regarding drivers, restraints, opportunities, and challenges influencing the growth of the medical sensors market. It also analyses competitive developments such as product launches, acquisitions, expansions, contracts, partnerships, and actions conducted by the key players to grow in the market.
The report profiles key medical sensors market players and analyzes their market shares. Players profiled in this report are TE Connectivity (Switzerland), Medtronic (Ireland), Analog Devices, Inc. (US), Texas Instruments Incorporated (US), STMicroelectronics (Switzerland), etc.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 240 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $2.4 Billion |
| Forecasted Market Value (USD) by 2029 | $3.6 Billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
Premium Insights
- Increasing Adoption of IoT-based Medical Devices to Drive Growth of Medical Sensors Market
- Noninvasive Medical Procedure to Account for Largest Share of Medical Sensors Market During Forecast Period
- Class II Medical Devices to Dominate Medical Sensors Market During Forecast Period
- Hospitals & Clinics to Account for Largest Share of Medical Sensors Market During Forecast Period
- Temperature Sensors to Account for Largest Share of Medical Sensors Market During Forecast Period
- China to Account for Largest Share of Medical Sensors Market in Asia-Pacific
- Patient Monitoring Devices Segment to Dominate Medical Sensors Market
- India to Register Highest CAGR During Forecast Period
Market Dynamics
- Drivers
- Increasing Adoption of Sensors in Portable and Connected Medical Devices
- Growing Elderly Population and Increasing Life Expectancy
- Rising Demand for Wearable Medical Devices
- Surging Adoption of IoT-based Medical Devices
- Burgeoning Expenditure on Healthcare
- Restraints
- Low Penetration of Medical Devices in Developing Countries
- Complexity in Designing Compatible Medical Sensors
- Opportunities
- Advancements in Sensors and Digital Technologies
- Growth Outlook of Healthcare Industry
- Increased Adoption of Surgical Robots
- Challenges
- Stringent Regulatory Environment and Requirement of Product Approvals
- Data Leakages Associated with Connected Medical Devices
Technology Trends
- Surgical Robots
- IoT-based Medical Devices
- AI-based Medical Devices
Case Study Analysis
- Zoll Medical Developed Palm-Sized CPR Device Using Motion Sensors by Analog Devices
- Peak Sensors Offered Error-Free Temperature Sensors to an International Medical Company
- Promet Optics Developed Flexible Optical Sensing Solution for an International Corporation
Companies Featured
- TE Connectivity
- Medtronic
- Analog Devices, Inc.
- Texas Instruments Incorporated
- STMicroelectronics
- Tekscan, Inc.
- NXP Semiconductors
- Sensirion AG
- ON Semiconductor Corporation
- Amphenol Corporation
- Koninklijke Philips N.V.
- AMS-Osram AG
- Abbott
- Honeywell International Inc.
- Cirtec
- Innovative Sensor Technology IST AG
- Keller Druckmesstechnik AG
- Omnivision
- Merit Medical Systems, Inc.
- Infineon Technologies AG
- Masimo
- Vivalnk, Inc.
- Microchip Technology Inc.
- Siemens Healthineers AG
- Renesas Electronics Corporation
For more information about this report visit https://www.researchandmarkets.com/r/smw57j
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