The global biomedical temperature sensors market size was valued at USD 6.17 billion in 2020, and is expected to grow at a substantial CAGR during the forecast period, 2021-2028. The growth of market is attributed to growing usage of temperature sensors in several different applications in biomedical sector.
Over the past few years the government investment increased towards healthcare sectors to provide safe and reliable healthcare facilities and infrastructure along with the growing application biomedical temperature sensors are factors expected to drive the market in the near future.
In healthcare industry temperature sensors plays a very vital role as they are used in anesthesia-driven surgeries, dialysis when kidney failure, analysis of blood, oxygen measured for ventilators, life supporting machines, organ transplant, temperature measurement digitally, and many more surgeries.
Not only for measuring temperatures but the sensors are also used for number of other physical parameters. Frequently they are used for calorimetric flow sensors which are used for monitoring respiratory and blood airflow.
In the areas of research and treatment in biology and medicines fiber optic temperature sensors is been stated as a valuable form of application. Such as tissues monitoring while performing electromagnetic heating during cancer therapy, microwave bio-hazard studies, and patients monitoring during magnetic resonance imaging (MRI).
Moreover the incidences of lifestyle-based diseases, increasing arte of elderly population are one of the major factors boosting the biomedical sensor market. Conversely the elongated product development and security related issue are some of the factors that can hinder the growth of the market in the coming years.
Market Trends, Drivers, Restraints, and Opportunities
- Rising incidence of lifestyle based diseases and emergence of new forms of diseases is estimated to drive the market in coming years.
- Growing proportion of geriatric population is expected to propel the market during the forecast period.
- Increasing demand for patients monitoring applications is anticipated to boost the market during projected period.
- R&D and technological advancement towards MEMS design with low cost involvement and high-performance sensors with user friendly methods create a lucrative opportunities for the key players of the market.
- Growing government initiatives and investment towards development of healthcare sector is expected to fuel the market in the coming years.
- Security concern related to the biomedical sensors, long product development procedures, and strict government policies are some of the factors expected to hamper the market growth during the projected period.
- Ultra-low power consumption, patients safety and comfort due to strong electro- magnetic field, and transferring energy from external to internal with extensive efficiency and with high data rates posses major challenges that hinder the market expansion in the coming years.
Scope of the market
The report on the global biomedical temperature sensor market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Biomedical Temperature Sensor Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Types (Thermistors, Thermocouples, Resistance Temperature Detectors (RTDs), Fiber Optic Sensors, Infrared Sensors, and Liquid Crystal Temperature Sensors)
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Regional Scope
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Europe, Asia Pacific, North America, Rest of the World.
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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TE Connectivity Ltd; Smiths Medical Inc.; Minco Products Inc.; Amphenol Advanced Sensors; Texas Instruments Incorporated.
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Market segment insights
The fiber optic sensors segment is expected to exhibit high CAGR
Based on the types, the market is segregated into thermistors, liquid crystal, resistance temperature detectors (RTDS), fiber optic sensors, infrared sensors, and thermocouple temperature sensors. The fiber optic sensors segment is expected to exhibit high CAGR during the projected period due to rapid adoption of IoT in healthcare industries act as advantage for the fiber optic sensor segment, also sensors are highly used in measuring the variety of physiological parameters such as, blood pressure, body temperature, and muscle displacement. Furthermore enhanced technological system used for patients to record and monitor their physiological measurements augments fiber optic sensors market.
North America is estimated to dominate the market
In the terms of regions, the market is categorized into Europe, Asia Pacific, North America, and Rest of the world. North America is estimated to dominate the market during the forecast period owing to increasing demand for medical services in the United States. With the flourishing healthcare sector, strict government policies, and technological advancement across the healthcare segment within the region which offers easy integration of sensors with other products are contributing majorly in the markets growth.
Segments
Segments Covered in the Report
Global biomedical treatment sensors market has been segregated on the basis of
Types
- Thermistors
- Thermocouples
- Resistance Temperature Detectors (RTDs)
- Fiber Optic Sensors
- Infrared Sensors
- Liquid Crystal Temperature Sensors
Regions
- Europe
- Asia Pacific
- North America
- Rest of the World
Key Players
- TE Connectivity Ltd
- Smiths Medical Inc.
- Minco Products Inc.
- Amphenol Advanced Sensors
- Texas Instruments Incorporated.
Competitive Landscape
Key players competing in the global biomedical temperature sensor market include TE Connectivity Ltd; Smiths Medical Inc.; Minco Products Inc.; Amphenol Advanced Sensors; Texas Instruments Incorporated.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance
In September 2018, TE Connectivity Ltd launched the online TE Store which allows the option for their customers to purchase featured products direct via TE.com through selected distributors, along with access to product pricing, and flexible and delivery options.