HOME › Research Insight › Biosensors are Leading the Growth of Market for Disposable Medical Device Sensors
Biosensors are Leading the Growth of Market for Disposable Medical Device Sensors
Across the globe, sensor-based disposable devices are being increasingly used due to factors such as lower cost and their ability to reduce hospital acquired infections. A number of sensor-based disposable devices are available in the market. Furthermore, companies are engaged in developing new disposable devices sensors with advanced feature, which will help the market to grow further.
The biosensors market accounts for the largest share of the global disposable devices sensors market. Biosensors are widely used in diagnostic applications for detecting blood glucose level, pregnancy, drug or alcohol consumption, HIV, and many other parameters. The extensive use of enzyme based sensors in home healthcare and point of care (POC) diagnostics is another reason for the large share of these sensors. The biosensors market showcases a huge growth potential, due to which various researches for development of new and advanced products are being carried out. For instance, in 2012, a fluorescent biosensor for the detection of vimentin serine phosphorylation was developed by researchers at the Tokyo University. Moreover, Piramal healthcare is also engaged in developing various low cost disposable devices biosensors, which will allow better diagnosis at low cost.
The smart pill sensors market is another segment which showcases a lucrative growth potential. Smart pill sensors include capsule endoscope sensors and patient monitoring smart pills. The cost effectiveness offered by capsule endoscopes is a major reason for their high growth. In addition, these pill sensors involve no sedation, are patient friendly, detect small pathologies, and also inform a patient regarding the time for the next medicine dose. All these factors are driving the growth of this market. Many prominent companies are investing and collaborating with each other for launching new products in this market. For instance, industry giants such as Oracle and Novartis together with Proteus, are developing new smart pill sensors for better patient monitoring and diagnosis. Furthermore, the FDA has lowered its regulatory bars for the launch of such products. All these factors have opened an array of opportunities for the smart pill sensors market to flourish in the coming years.
Growth in disposable devices sensors market is likely to be centered at Taiwan, China, Japan, Singapore, and India. Major semiconductor players are investing and collaborating with Asian research institutes for developing new products. For instance, in July 2012, STMicroelectronics (Switzerland), a leading semiconductor company, collaborated with Harbin Institute of Technology (HIT), for carrying out research and development of MEMS based smart sensors. Moreover, governments in various regions in Asia are supporting research and development related activities in the field of sensors. For instance, in March 2013, the Chinese government invested $186 million in healthcare related technologies such as diagnostics, sensors, biochemical, immunological, and many other technologies. Furthermore, the colossal pool of diabetic and cardiac patients in the Asian region, who need continuous monitoring and care, is another factor which is likely to fuel the growth of the Asian market.
Related Reports @
Disposable Medical Devices Sensors Market - by Type [Biosensor, Image sensor, Accelerometer] Monitoring [Smart Pill, Pulse Oximeter] Diagnostic [Capsule Endoscope, Blood Glucose Strip] Therapeutic[Insulin pump, Dialysis] - Global Forecast to 2018
North - Dominion Plaza,
Suite 800, Dallas, TX 75252