According to our new market research study on “Biomedical Sensors Market to 2027 – COVID-19 Impact and Global Analysis – by Type, Sensor Type, Product, and Application,” the market is expected to reach US$ 15,338.57 million in 2027 from US$ 8,688.63 million in 2019. The market is estimated to grow at a CAGR of 7.4% from 2020 to 2027. The growth of the market is attributed to factors such as increase in geriatric population, rise in demand for home-based medical care, technological advancements in the medical device industry, rise in adoption of IoT-based medical devices, and increase in healthcare expenditure worldwide.

The key players profiled in the Biomedical Sensors Market research study includes: Analog Devices, Inc.; GE Healthcare; STMicroelectronics; Honeywell International; Medtronic; NXP Semiconductors N.V.; Pinnacle Technology Inc.; Sensirion AG; TE Connectivity; and Texas Instruments Incorporated are among the leading companies in the biomedical sensors market.

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Based on sensor type, the biomedical sensors market is segmented into temperature, pressure, image sensor, biochemical, inertial sensor, motion sensor, electrocardiogram (ECG), and other sensor types. In 2019, the temperature segment accounted for the largest share in the market owing to easy availability of wireless monitoring devices and rise in incidence of lifestyle and chronic diseases. 

The growing demand for patient monitoring devices in non-hospital settings is also providing attractive growth opportunities for players in the biomedical sensors market. The integration of monitoring technologies in smartphones and wireless devices is a critical trend in patient care, resulting in high growth for patient monitoring applications. This, in turn, is boosting the demand for temperature sensors during the forecast period.

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