Sensors are tools that identify biological, physical, and chemical signals and give a mechanism to measure and record such signals. Pressure, temperature, vibration, sound level, weight, and concentration of several chemicals in gaseous, liquid, or solid form are examples of physical signals that may be perceived. Sensors allow for the tracking and monitoring of medical issues. Due to their ability to provide the mechanical vision needed for robotic steering, counting, reading, and sorting, sensors have had a significant impact on numerous sectors. Medical sensors are essential to the secure operation of several medical equipment in a variety of applications.
Pressure, force, airflow, oxygen, pulse oximetry, temperature, and barcode sensing are the main sensors utilised in medical equipment.
The market for Medical Sensors is anticipated to reach a value of US$ 20,545.0 million in 2022 and grow at a CAGR of 10.1% during the following five years (2022-2030).
Key Leaders in the Medical Sensors Industry:
1. Medtronic plc
Medtronic plc is an American manufacturer of medical equipment, founded in 1949. Due to its 2015 acquisition of the Irish-based Covidien, the business has its operational and executive offices in Minneapolis, Minnesota, and its legal headquarters in Ireland.The fourth quarter cash dividend for the fiscal year 2023 of $0.68 per common share, an increase of 8%, was approved by Medtronic plc's board of directors on March 2, 2023.
2. GE HealthCare Technologies Inc.
GE HealthCare Technologies Inc., doing business as GE HealthCare, is a multinational provider of medical technology with its main office in Chicago, Illinois. It was established in 1892. On January 4, 2023, GE split it out, keeping 20% of the company. A greater number of people can receive better care thanks to our customers' use of the wide range of expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, drug discovery, biopharmaceutical manufacturing technologies, performance improvement, and performance solutions services.
3. Koninklijke Philips N.V
Philips refers to the Dutch global conglomerate firm Koninklijke Philips N.V., which was established in Eindhoven in 1891. Although the Benelux headquarters are currently in Eindhoven, it has been mostly headquartered in Amsterdam since 1997. The research from Philips Future Health Index 2021 supports India's desire for healthcare to undergo a digital revolution. The organisation, which employs more than 20,000 people across 90 locations, is centred on research and development as it searches for gamechangers with the potential to significantly improve healthcare outcomes and costs nationwide, eventually enhancing people's lives.
4. Smiths Medical, Inc
Smiths Medical, Inc. was founded in 1940 and designs and manufactures a full range of trustworthy products for use throughout the continuum of care. From our headquarters in Minneapolis, Minnesota, the United States, we assist patients and carers in creating the interpersonal and emotional bonds that improve clinical experience and are the foundation of exceptional quality-of-care. ICU Medical Inc. stated on January 6, 2022, that it has successfully acquired Smiths Medical from Smiths Group plc.
5. Freescale Semiconductor, Inc.
An American maker of semiconductors was Freescale Semiconductor, Inc. It was established as a result of Motorola's 2004 sale of its Semiconductor Products Division. Freescale concentrated on the automotive, embedded, and communications areas for their integrated circuit devices. NXP Semiconductor has replaced Freescale Semiconductor. An industry pioneer in embedded processing systems was Freescale Semiconductor. From microprocessors and microcontrollers to sensors, analogue integrated circuits and connectivity - these technologies form the foundation for the advancements that make our world greener, safer, healthier and more connected. Automotive safety, hybrid and all-electric cars, next-generation wireless infrastructure, smart energy management, portable medical devices, consumer appliances, and smart mobile devices are among of their primary applications and end-markets.
6. OmniVision Technologies Inc.
An American division of the Chinese semiconductor device and mixed-signal integrated circuit design company Will Semiconductor, OmniVision Technologies Inc. was established in 1995. One of the top manufacturers of cutting-edge digital imaging technologies is OmniVision Technologies. American Santa Clara serves as the location of its corporate headquarters. Many of today's consumer and business applications, including mobile phones, laptops, netbooks, and webcams, security and surveillance, digital still and video cameras, automotive, and medical imaging systems, are made possible by its award-winning CMOS imaging technology. OmniVision reported $507.3 million in revenue for the 2009 fiscal year.
7. Analog Devices, Inc.
An American global semiconductor business specialised in data conversion, signal processing, and power management technologies, Analog Devices, Inc., usually known as Analog, was formed in 1965. Analog Devices Inc. (Analog Devices) develops, produces, and sells integrated circuits for analogue, mixed-signal, and digital signal processing (ICs). Applications for the company's products include power management, radio frequency, and data converters and amplifiers (RF). In addition to the automobile industry, it supports the instrumentation, aerospace and defence, building technology, consumer, communications, healthcare, energy, and security and surveillance sectors. Products are marketed by Analog Devices directly, through independent sales reps, through third-party distributors, and online. Manufacturing facilities for the corporation are located in the US, the Philippines, Ireland, Thailand, and Malaysia. The Americas, Europe, Africa, and Asia-Pacific are all affected by its commercial operations. Headquarters for Analog Devices are in Wilmington, Massachusetts.
8. siemens healthcare gmbh
German-based Siemens Healthineers manufactures medical equipment. Its headquarters are in Erlangen, Germany, and it serves as the parent company for a number of medical technology businesses. Werner von Siemens co-founded a tiny family business in Berlin in 1847, which is where the corporation got its start. During IRIA 2022, Siemens Healthineers presents its most recent advancements in medical imaging. FREE MAGNETOM. Star is a disruptively straightforward method of MRI that revolutionises patient access to high-value therapy.
*Definition- Sensors are tools that identify biological, physical, and chemical signals and give a mechanism to measure and record such signals.
