The Global biomedical pressure sensors market was valued at US$ 7.88 Billion in 2017 and is expected to reach US$ 11.30 Billion by 2022 growing at a CAGR of 5.72% during the forecast period 2017-2022. A Pressure sensor can be described as a chip or device that smoothens the process of measuring the fluctuation and sending the information to a phone or device. Adoption of digital technology has resulted in an increase in efficiency and performance for these sensors. In the medical industry, pressure sensors are being used as cost effective devices for catheters employed in surgical operations. Also, silicon based sensors are primarily used owing to their availability and low cost as they are produced in bulk.
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The market growth has been fueled by the presence of several drivers such as technological advancements, increasing demand for low-cost, high performance and reliable sensors and growing demand for enhanced patient’s life. Also, continuous research & development investments in several emerging economies has resulted the increasing traction in the biomedical pressure sensors market.
However, the growth of the market is being hindered due to the presence of intense competition in this field. Other challenges include pricing and maturity of critical end-user segments which act as restraints to this market.
The global biomedical pressure sensors market is segmented on the basis of technology, industry and geography. Based on technology, the market has been segmented into self-calibrating, fiber optic, telemetries, capacitive, wireless passive, piezoresistive, and others. The market by industry is sub-segmented into pharmaceutical, healthcare, and others. Finally, the market by geography includes North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Asia-Pacific predominated the pressure sensors market with the highest share of the total revenue generated globally. It accounted for more than 30% share of the global market. Asia-Pacific was followed by the North America and Europe. Pressure sensors market in Asia-Pacific region is also anticipated to witness rapid growth as compared to other regions. Over the past few years, Brazil has witnessed strong growth in the medical industry. So, it is expected to boost demand for pressure sensors in Latin America.
Some of the most promising opportunities in this industry lie in the emerging market in developing countries. China, India, Korea, Taiwan, and Indonesia are expected to add momentum to market growth. Also, technological proliferation and advancements in the ICT technology, nanotechnology and micro-technology present several opportunities, such as miniaturization, low power consumption, and mass production of such sensors.
Some of the leading players and manufacturers of biomedical pressure sensors in the market are Samba Sensors, InfraReDx, Hansen Medical, Opsens, Zenalux Biomedical, Saving Sara, Maquet, FISO Technologies, All Sensors Corporation, RJC Enterprises and ADInstruments among others.
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