According to a market research report, the medical sensors market is estimated to grow at a compound annual growth rate (CAGR) of 8.5% between 2016 and 2022 and is expected to reach US$15.01 billion by 2022. This is according to MarketandMarkets “Medical Sensors Market by Sensor Type (Temperature, ECG, Image, Motion, & Pressure), Placement (Strip, Wearable, Implantable, & Ingestible), Application (Diagnostics, Monitoring, Therapeutics, & Imaging), & Geography – Global Forecast to 2022.”
The medical sensors market is projected to grow rapidly due to the increasing incidences of cancer, acute myocardial infarction, and diabetes mellitus as well as the increasing number of postoperative rehabilitation patients across the globe.
Electrocardiogram (ECG) sensors expected to hold the largest share of the medical sensors market by 2022
Players in the medical sensors market focus on manufacturing portable ECG devices which can be used at home, by cardiac patients. ECG sensors are used in cardiac treatment, and various products are designed in this regard to provide the ease of usage to patients.
ECG sensors accounted for the largest market share in 2015. This market is expected to grow at a high CAGR between 2016 and 2022. Players in the medical electronics market are concentrating on manufacturing portable ECG devices which can be used at home, by cardiac patients.
APAC expected to witness highest growth during the forecast period
The market in Asia-Pacific (APAC) is expected to grow at the highest CAGR between 2016 and 2022. The increasing population with respiratory diseases such as sleep apnea and the aging population are major drivers for the medical sensors market in APAC. The market in APAC is set to grow because of technological advancements and increased awareness among people. APAC is expected to be the fastest-growing region in terms of technological advancement, healthcare, marketing, and so on. Asia-Pacific is the largest market for motion sensors among all other regions.