The Medical Sensors Market is expected to reach USD 18.5 billion by 2024, according to a new report by Grand View Research, Incite upsurge in the number of patients afflicted with chronic conditions, such as diabetes and hypertension, is fueling the usage of monitoring as well therapeutic devices, thus boosting the market demand.
The target population for this market is patients with chronic illnesses, as such conditions necessitate regular checkups and intermittent or continuous patient monitoring. The rise in population of chronically ill patients further increases the uptake of the medical sensors.
The geriatric population is highly prone to developing chronic disorders and they pose a higher risk of developing age-related deformities and complications. Moreover, the adoption of unhealthy food habits and sedentary lifestyles and the resultant surge in the incidence of obesity has led to the increasing prevalence of lifestyle disorders including diabetes. The presence of a large target population base combined with the prevalence of lifestyle-related risk factors is likely to accelerate the growth of the medical sensors market during the forecast period.
Technological advancements in terms of accuracy, portability, and affordability associated with the new generation medical sensors resulted in the increased usage of these devices; for instance, the introduction of easy-to-operate, home-based diagnostic kits that are cost effective.
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Further key findings from the study suggest:
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Grand View Research has segmented the medical sensors market on the basis of product, application area, end-use, and region.
Global Medical Sensors Market, by Product, Revenue (USD Million) 2013 - 2024
Global Medical Sensors Market, by Application, Revenue (USD Million), 2013 - 2024
Global Medical Sensors Market, by End-use, Revenue (USD Million), 2013 - 2024
Medical Sensors Market, by Region, Revenue, (USD Million), 2013 - 2024
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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