Kenneth Research, in its repository of market research reports, has recently added a report on Medical Sensors Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Medical Sensors Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Medical Sensors Market products.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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The Medical Sensors Market in North America is anticipated to grow significantly owing to the presence of several key players in the region, along with the increasing need of the organizations in the nation to run on a strong ICT infrastructure.
According to Verified Market Research, The Global Medical Sensors Market was valued at USD 9.47 billion in 2017 and is projected to reach USD 18.03 billion by 2025, growing at a CAGR of 7.91% from 2018 to 2025.
What is Medical Sensors?
Medical Sensors refers to sensors in medical environments that detect chemical, physical and biological signals. The medical sensors provide a way for signals that are presented by medical devices to be measured and recorded. It is important that medical sensors are extremely accurate as well as reliable as the application of these sensors is within the extremely sensitive application of medicine. There are several applications of medical sensors in medicine such as for monitoring, imaging devices, fitness and wellness, diagnostics and therapeutics.
Global Medical Sensors Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Factors such as the ability to retrieve real time information using medical sensors has led to benefits such as the increase in patient safety as well as the increase in the response time of hospital staff as alterations in health can be quickly sensed through medical sensors. Factors such as the lack of infrastructure in hospitals as well as the high cost of implementation are restraining the growth of the global medical sensors market.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Medical Sensors Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Global Medical Sensors Market Competitive Landscape
The “Global Medical Sensors Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Measurement Specialties, Inc., Analog Devices, Inc., Medtronic PLC, GE Healthcare, Honeywell International Inc., Stmicroelectronics N.V., Texas Instruments, NXP Semiconductor N.V., First Sensor AG and Smiths Medical. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.
Global Medical Sensors Market , By Sensor Type
• Temperature Sensors
• Motion Sensors
• Inertial Sensors
• Pressure Sensors
• Electrocardiogram (ECG) Sensors
• Image Sensors
• Blood Glucose Sensors
• Blood Oxygen Sensors
Global Medical Sensors Market , By Sensor Placement
• Strip Sensors
• Wearable Sensors
• Ingestible Sensors
• Implantable Sensors
• Invasive/Non-Invasive Sensors
Global Medical Sensors Market, By Application
• Imaging Devices
• Fitness and Wellness
Global Medical Sensors Market Geographic Scope
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Latin America
• Rest of the World
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