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Global Medical Sensors Market Expected to Reach US$ 18.7 Bn in 2023 Health Articles | May 26, 2016

Transparency Market Research Report Added "Medical Sensors Market to Exhibit 7% CAGR from 2015 to 2023 owing to Increasing Utilization in Laboratories"



Medical sensors are devices used to measure the physical properties of a body and further respond by transforming this data into an optical or electrical signal. These medical sensors play a vital role in treating chronic diseases, including cardiovascular, cancer Cheap Jordan Retro Shoes , and respiratory. The emergence of IT-based medical devices is one of the major opportunities for the key players looking to expand their presence in the market.


In 2014, the global medical sensors market was worth US$10.0 bn and is estimated to reach US$18.7 bn by the end of 2023. The market is anticipated to register a 7% CAGR between 2015 and 2023.


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High Costs of Medical Sensors to Hamper Growth of Global Market


By product type, the global medical sensors market can be segmented into biosensors, image sensors, flow sensors, pressure sensors Cheap Air Jordan Shoes , accelerometers, SQUID sensors, temperature sensors, and others. In 2014, the biosensors segment accounted for a 47.4% share in the global medical sensors market, owing to its extensive application in the healthcare sector.


The growing preference of patients for home healthcare devices Cheap Jordan Retro , rising geriatric population worldwide, growing incidence of chronic diseases, and the growing use of medical sensors in laboratory practices are some of the major factors driving the global medical sensors market. However, the high cost of sensors is projected to curb the growth of the market in near future.


Increasing Penetration in Developing Economies to Propel Therapeutic and Monitoring Application Segments

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