MEDICAL SENSORS MARKET ANALYSIS

Medical Sensors Market Size and Trends

The global medical sensors market is estimated to be valued at USD 24.59 Bn in 2024 and is expected to reach USD 49.15 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 10.4% from 2024 to 2031.

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The medical sensors market is witnessing notable technological advancements like the miniaturization of sensors and integration of Internet of Things (IoT) and Artificial Intelligence (AI) into medical devices. This is allowing for development of advanced wearable and remote patient monitoring solutions. Further, increasing investments by key players to develop cutting-edge sensors and rising focus on personalized healthcare are expected to open up new avenues for market players over the coming years.

Increasing Product Launches by Key Market Players

Increasing product launches by key market players for global medical sensors market is expected to drive the global medical sensors market over the forecast period. For instance, in August 2020, Ams, a supplier of high-performance sensor solutions, provided the latest sensor technology to Midge Medical, a Germany-based medical technology startup, to develop a disruptive technology for science-backed rapid genetic and blood testing in a home and professional healthcare environment at a lower cost.

Development of new technologies by researchers is expected to drive the global medical sensors market during the forecast period. For instance, various researchers are focused on the development of new technologies, which is expected to drive the global medical sensors market over the forecast period. For instance, in July 2020, researchers at the University of Minnesota announced that they had developed a new technique that allows the 3D printing of hydrogel-based sensors directly on to organs such as the lungs.