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World Sensors Market in Healthcare Applications (Medical Sensors Market) is Expected to Reach $13.11 Billion by 2017 – New Reports by MarketsandMarkets
Date:9/28/2013

xperiencing an increase in revenue due to several reasons such as demand from the healthcare sector for better and improved care, rising importance of sensors in almost all medical devices, developments in sensor technology, and newer medical applications for sensors.

The sensors market in medical applications is driven by rising healthcare costs, aging population, wide-spread diseases and the need for medical diagnosis and treatment in developing and under-developed regions. The developed economies such as North America and Europe currently form the major shareholders in the revenue of sensors in healthcare applications, but the revenue is expected to increase rapidly over the years to come, with an increasing penetration of advanced sensors in sophisticated medical equipment being deployed for use in developing geographies such as Asia and Africa.

The penetration rate is also being increased by the growing awareness for advanced healthcare infrastructure in all countries, about the benefits and role of advanced sensors-equipped medical equipment, in preventing illness and saving more lives. Also, as the prices of advanced medical sensors are slowly being reduced and made affordable, their penetration rate is set to increase in developing and underdeveloped regions.

The various sensors to find applications in healthcare include pressure, temperature, chemical, flow, level, position, and image and bio sensors.

In terms of market statistics, the biggest revenue contributors are biosensors, which are sensors specifically designed for use in biological applications such as cardiac pacemakers, in-vitro diagnostics, and other implantable medical electronics. The biosensors can be termed as the biggest game-changers for sensors market in healthcare applications in the past two decades, as it can be undoubtedly said that the current huge market size worth approximately $8 billion is attained through biosensors.

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