Biomedical Sensors Market Size: Facts, Figures and Analytical Insights 2022-2031

Market Overview

The biomedical sensors market was valued at USD 10.79 billion in 2022 and is expected to reach USD 15.13 billion by 2031 at a CAGR of 6% over the forecast period. Technological advancements in the field of biomedical sensors using microtechnology and nanotechnology are expected to bring tiny, robust, smart and cost-effective sensors that are adaptable to the individual genetic formulation. These sensors can be set to trigger alerts when they enlist unpredictable readings, screen the existence of toxic agents in the blood, or empower drug directly into the circulatory system. Investments in developing sensors with such capabilities will act as a significant factor for the growth of the market and eventually, these products are expected to have a huge demand in the healthcare industry.

Increased demand for patient monitoring applications, technological innovations in MEMS enabling the design of low-cost, high-performance sensors, that can be easily integrated into other applications is some of the key drivers for the growth of the market. Further, the increased incidence of lifestyle based diseases, a growing proportion of the aging population and new forms of diseases have also played a significant role in market growth for biomedical sensors globally.

Emerging applications for biomedical sensors in the field of nanotechnology and continual innovations leading to the development of innovative non-invasive sensor-based medical applications will open up several growth opportunities in this market. However, security concerns related to the use of biomedical sensors, long product development cycles and stringent regulatory procedures required for operating in the medical sector remain major challenges impeding growth in the overall market.

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Even though biomedical sensors are playing a major role in life-saving situations, the market faces certain challenges such as patient’s safety and comfort due to strong electromagnetic fields, transferring energy from external to internal parts with high efficiency and high data rates, limited computation and data storage, and ultra-low power consumption.

Scope of the Report

Biomedical sensors are sensors that identify medically relevant parameters, these could array from simple physical parameters like blood pressure or temperature to analyses for which biosensors are appropriate (e.g., blood glucose).

Key Market Trends

Healthcare Industry Holds a Substantial Share of Biomedical Sensors Market

– Recently, many healthcare researchers are increasingly focusing on early detection and prevention of illnesses. Infectious diseases are becoming the leading cause of death, especially for people in developing countries, and early detection and accurate diagnosis of these diseases is turning out to be a vital factor driving the market for biomedical sensors.
– Accelerometers are used for measuring heart rate, blood pressure, and levels of glucose and oxygen in the blood. These sensors have major applications in devices such as defibrillators and pacemakers. Hence, the growing awareness concerning healthcare has increased the need for sensor technologies and monitoring devices that are able to sense and provide feedback to the users about the health status for increased safety.
– Medical sensors in healthcare have the capability to bring about a revolution concerning the way a disease is cured or prevented. Advances in engineering, technology, and material sciences have given away for highly sophisticated sensors that can be used in medical research. These kinds of sensors open doors for innovation and may someday lead to thought-controlled prosthetics and other personal assistive devices for people with paralysis, amputated limbs and other movement impairments driving the market.

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