Frequently Asked Questions
The global medical and biological sensors market was valued at USD 1.2 Billion in 2022.
The medical and biological sensors market is expected to grow at a CAGR of XX% between 2023 and 2030, reaching USD XX Billion in 2030.
Temperature sensor technology is the leading segment by type, holding around half the share in value in 2022.
The hospital segment governs the demand for medical and biological sensors, holding a massive share in 2022.
The pressure sensors segment is expected to post the highest CAGR during the forecast period.
North America is fueling the growth of the medical and biological sensors industry, with a nearly two-fifth share in 2022.
The top players include Analog Devices, First Sensor, GE, Honeywell, TE Connectivity, Medtronic, NXP, STMicroelectronics, Smiths Group, and Texas Instruments.
Increasing incidence of lifestyle-based diseases across the globe is the major market drivers.
High product costs and low reimbursement services are restraints of the medical and biological sensors industry.
Rising geriatric population across the globe is expected to create lucrative growth opportunities for the global medical and biological sensors market.