Medical sensors have significantly impacted recent medical and health care technologies. These are used to make medical devices more effective and simpler in operation. These medical sensors enable long term as well as continuous physiological monitoring which is important to treat and manage chronic illnesses, neurological disorders, heart problems, and mental health issues.
Transparency Market Research (TMR) has published a new report titled, “Medical Sensors Market –
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the
report, the global medical sensors market is projected to reach US$ 27.7 Bn by 2026 at a CAGR of 9.9%
from 2018 to 2026. Factors such as increase in government initiatives for the adoption of mHealth
products and rise in adoption of Internet of Things (IoT) and other medical advancements are propelling
the global market. Moreover, increase in public and private investments in mHealth products and rise in
adoption of smartphones and other electronics with sensor technology boost the growth of the global
medical sensors market.
The Americas is projected to dominate the global medical sensors market owing to availability of
advanced health care infrastructure and high consumption of medical devices. Asia Pacific and Europe,
Middle East, and Africa (EMEA) are potential markets. The medical sensors market in Asia Pacific is
expected to expand at a CAGR of 11.4% during the forecast period. Increase in focus on development of
medical sensors in the past few years, improvement in health care infrastructure, and early detection of
diseases fuel the growth of the medical sensors market in Asia Pacific and EMEA.
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Rise in Government Initiatives for Adoption of mHealth Products and Increase in Public and Private
Investments in Medical Sensor Companies to Drive Market
Increase in government initiatives for adoption of mHealth products drives the global market. The U.K.
Government Department of Health started the NHS digitization initiative in 2016 and allocated over US$
6.0 Bn for it. More than US$ 2.6 Bn was allotted to transfer paper records to a centralized electronic
record system, implementation of wireless technologies, and addressing cyber security concerns in NHS
IT ecosystem. New innovations in the health c