Potential of the Internet of Things in the Medical Sensors Market

The international medical sensor market is all set to reach an annual growth rate of 9.9%, which means the valuation of the market will be nearly USD 27 billion.

Private and public investments in the organizations of the medical sensor market are all prepared for a higher growth trajectory, as shown in the report below.

According to the latest findings from 2018 to 2026, the international medical sensor market will reach around 9.9%, which means compounded annually. As a result of this growing CAGR, the market valuation will reach a worth of USD 27.7 billion (approximate) by the end of 2026. The government has played a prominent role here which fuelled the market growth. However, the advancement in the Internet of Things (IoT) is seeing higher adoption egging the market for an even higher growth trajectory.

According to Transparency Market Research: "Investments in Health products are increasing, and that is a notable propeller of growth in the market. Furthermore, the growing penetration of the internet and smartphones, particularly in the remote areas of the world, is also paving a solid foundation for market growth over the coming few years."

Major Findings of the Global Medical Sensors Market Study:

• Implantable sensors are an emerging segment of the market that holds a great market share and will continue to grow at a remarkable CAGR during the forecast period (2018- 2026).
• Increasing demand for continuous monitoring setups together with an advanced technology that contributes to the growth in the above-mentioned segment.
• According to the growing end-users of home care settings, the segment will see a rise within the forecast period.
• American citizens are expected to dominate compared to other regions.

Key Growth Factors in the Medical Sensors Market:

• Increased access to the internet and having their own mobile phones together with other smart devices like tablets, laptops, etc.
• Support and initiatives of governments towards the adoption of mHealth products and services.
• More investment in telehealth and technology, for example, IoT embedded sensors.
• Improvement in various healthcare infrastructure in hospitals and personal care.

Market Segmentation

By Product

• Temperature sensors
• Pressure measuring sensors
• Biosensors
• Motion sensors
• Flow sensors
• Image sensors

By Application

• Monitoring
• Wellness and fitness
• Diagnostics
• Therapeutics

By Placement

• Wireless sensors
• Wearable sensors
• Implantable sensors

By End Use:

• Clinics
• Hospitals
• Home care settings

By location

• Europe
• Asia Pacific
• Americans
• The Middle East and Africa

There are a lot of factors individually and in combination egging the market among them the digital health market is worth mentioning, technical advancement and increasing demand push the market towards manufacturing more such devices powered by the latest technologies.