LONDON, U.K. -- The sensors market in medical applications is poised to see rapid growth, driven by the constant demand for better and improved healthcare, sensors' rising importance in almost all medical devices, further developments in sensor technology and newer medical applications for sensors.
New analysis from Frost & Sullivan Sensors Market in Medical Applications, finds that the market earned revenues of $6,051.8 million in 2009 and estimates this to reach $12,445.6 million in 2016. The following sensors are covered in this research: pressure, temperature, flow, accelerometer, bio, encoders, SQUID and image sensors.
Rising healthcare costs, aging population and the need for medical diagnosis and treatment in developing and underdeveloped regions are driving the sensors market in medical applications. In addition, various world economies are expected to continue to drive trends in the sensors market in medical applications, both from a growth perspective and technology/product advancement perspective.
"Sensors are playing an important role in enhancing safety and improving the quality of life in the healthcare arena," notes Frost & Sullivan Industry Analyst V. Sankaranarayanan. "Sensors' advancements in inherent accuracy, intelligence, capability, reliability, small size and low power consumption are expanding their use in medical applications."
Sensors can increase the intelligence of life-supporting implants. They can be used in new types of monitoring applications to support a better quality of life for patients. In addition, the sensors can be employed for identifying advanced symptoms and preventing serious illnesses, where possible.
The slower rate of penetration of advanced medical systems in developing regions remains a key constraint for the market.
"The penetration of most advanced products and technologies in developing and underdeveloped regions is always slower compared to the West," explains Sankaranarayan. "This applies for the medical sensors market as well."
Educating end users and creating awareness about the benefits and role of advanced sensors in preventing illness and saving lives can boost the penetration rate. In addition, as the prices of advanced medical sensors are reduced and affordable, their penetration rate is set to increase in developing and underdeveloped regions.
If you are interested in more information on this study, please send an e-mail to Joanna Lewandowska, Corporate Communications, at [email protected], with your full name, company name, title, and contact details.
Sensors Market in Medical Applications is part of the Sensors & Instrumentation Growth Partnership Services programme, which also includes research in the following markets: Sensors in HEV/EV Applications and, Sensors Outlook—Europe. All research included in subscriptions provide detailed market opportunities and industry trend that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents.