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The Biomedical Sensors Market is segmented by Type (Wired, Wireless), Sensor Type (Temperature, Pressure, Image Sensors, Biochemical, Inertial Sensors, Motion Sensors, Electrocardiogram (ECG)), Industry (Pharmaceutical, Healthcare), and Geography.
Fastest Growing Market:
The biomedical sensors market was valued at USD 10.79 billion in 2019 and is expected to reach USD 15.13 billion by 2025, at a CAGR of 6% over the forecast period 2020 - 2025. Technological advancements in the field of biomedical sensors using microtechnology and nanotechnology are expected to bring tiny, robust, smart and cost-effective sensors that are adaptable to the individual genetic formulation. These sensors can be set to trigger alerts when they enlist unpredictable readings, screen the existence of toxic agents in the blood, or empower drug directly into the circulatory system. Investments in developing sensors with such capabilities will act as a significant factor for the growth of the market and eventually, these products are expected to have a huge demand in the healthcare industry.
Increased demand for patient monitoring applications, technological innovations in MEMS enabling the design of low-cost, high-performance sensors, that can be easily integrated into other applications is some of the key drivers for the growth of the market. Further, the increased incidence of lifestyle based diseases, a growing proportion of the aging population and new forms of diseases have also played a significant role in market growth for biomedical sensors globally.
Emerging applications for biomedical sensors in the field of nanotechnology and continual innovations leading to the development of innovative non-invasive sensor-based medical applications will open up several growth opportunities in this market. However, security concerns related to the use of biomedical sensors, long product development cycles and stringent regulatory procedures required for operating in the medical sector remain major challenges impeding growth in the overall market.
Even though biomedical sensors are playing a major role in life-saving situations, the market faces certain challenges such as patient's safety and comfort due to strong electromagnetic fields, transferring energy from external to internal parts with high efficiency and high data rates, limited computation and data storage, and ultra-low power consumption.
Biomedical sensors are sensors that identify medically relevant parameters, these could array from simple physical parameters like blood pressure or temperature to analyses for which biosensors are appropriate (e.g., blood glucose).
|By Sensor Type|
|Other Sensor Types|
|Other Industry Types|
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The biomedical sensors market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. Rising disposable income, rising awareness about devices with sensors and growing customer base across the world have led to vast growth opportunities for players in this market. These players are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Growing Demand for Fitness Devices
4.3.2 Increasing Spendings on Diagnostics
4.3.3 Rising Health Concerns
4.4 Market Restraints
4.4.1 High Costs of the Systems
4.4.2 Safety Issues Related to Prolonged Usage
4.5 Industry Attractiveness - Porter's Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5. TECHNOLOGY SNAPSHOT
6. MARKET SEGMENTATION
6.1 By Type
6.2 By Sensor Type
6.2.3 Image Sensors
6.2.5 Inertial Sensors
6.2.6 Motion Sensors
6.2.7 Electrocardiogram (ECG)
6.2.8 Other Sensor Types
6.3 By Industry
6.3.3 Other Industry Types
6.4.1 North America
126.96.36.199 Rest of Europe
6.4.3 Asia Pacific
188.8.131.52 Rest of Asia-Pacific
6.4.4 Latin America
184.108.40.206 Rest of Latin America
6.4.5 Middle East & Africa
220.127.116.11 Saudi Arabia
18.104.22.168 Rest of Middle East & Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 GE Healthcare
7.1.2 Honeywell International Inc.
7.1.3 Stmicroelectronics N.V.
7.1.4 First Sensor AG
7.1.5 Medtronic PLC
7.1.6 Smiths Medical
7.1.7 Measurement Specialties, Inc.
7.1.8 Analog Devices, Inc.
7.1.9 Texas Instruments
7.1.10 NXP Semiconductor N.V.
7.1.11 LumaSense Technologies
7.1.12 Zephyr Technology Corp.
7.1.13 Nonin Medical Inc.
7.1.14 Innovative Sensor Technology USA
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
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