Los Angeles, January 16, 2020 - QY Research recently published a report titled, “Global Medical Pressure Sensors Market Research Report 2020”. The global medical pressure sensors market will be valued at US$677.8 mn in 2020 is expected to reach US$1023.8 mn by the end of 2026, rising at a CAGR of 6.0% during 2021-2026.
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Healthcare to Observe Rising Demand for Medical Pressure Sensors for Accurate Monitoring of Patient’s Health
Technological advancements in medical and bioscience field have increased the adoption of pressure sensors in the healthcare sector to enhance the quality of care provided to patients. In many way, these sensors have also averted unnecessary health complications. These pressure sensors can be effectively used for monitoring pressure, heart rate, sleep apnea, temperature, and others. This data can be used for treating and diagnosing a patient for better disease management. They are used in orthopedic care devices, diabetic care devices, and surgery-specific sensory devices, and other crucial medical devices including ventilators, oxygen tanks, oxygen concentrators, respirators, and spirometers.
Furthermore, rising fitness industry has led to a surge in demand from compact, wearable, and implantable devices to help monitor, track, and record data. These factors are expected to increase the demand for global medical pressure sensors market.
Patient Monitoring Devices Segment to Hold Largest Share in Market
Rising investment in healthcare industry from both government and private organizations have enabled research and development of patient monitoring devices. Additionally, high volumes of patient and lower availability well-trained staff will further contribute to the growth of patient monitors devices.
Asia Pacific to Rise Drastically in Forecast Years
The rising investments from governmental organization to improve healthcare infrastructure is expected to boost the growth of the market in Asia Pacific. Also, growing number of cases of people suffering from chronic disorders, such as diabetes, respiratory problems, and hypertension is further boosting its growth.
Manufacturers to Focus on Innovative Predictive Analytics Capabilities for Clinicians
In 2018, Edwards Lifesciences Corporation announced its acquisition with CAS Medical Systems, Inc. Under the agreement the company acquired CASMED's FORE-SIGHT, a non-invasive cerebral oxygenation technology. The company planned to pair FORE-SIGHT technology with the HemoSphere advanced hemodynamic monitoring platform. This will create a unique offering of enhanced recovery tools and predictive analytics capabilities for clinicians.
The major players in the market include NXP+ Freescale, Amphenol, TE Connectivity (Measurement Specialties), Merit Medical Systems, Biosenor International, Honeywell, Infineon, Argon, ICU Medical, First Sensor AG, TDK EPCOS, Smiths Medical, etc.
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