The Business Research Company’s Medical Sensors Market: Covid 19 Implications And Growth – Opportunities And Strategies – Global Forecast To 2035
LONDON, GREATER LONDON, UK, August 18, 2020 /EINPresswire.com/ — 3D printing technology is being used in the fabrication of medical sensors to reduce manufacturing costs and boost production efficiencies. 3D printing is the process of making three-dimensional solid objects from a digital image. 3D printing methods for medical sensors include micro-extrusion, inkjet, and laser-assisted printing. These technologies precisely control the spatial distribution and layer-by-layer assembly of materials used in the manufacturing of medical sensors.
Major companies manufacturing medical sensors by using 3D printing technology are Zimmer and Peacock and 3D Bioprinting Solutions.
Technological advances in electronics and wireless communications have enabled the development of small, intelligent and cost-effective medical sensor nodes. These nodes are strategically placed on a patient’s body to create a wireless medical body area network (MBAN). In some cases, sensors may be swallowed for short-term monitoring or placed in the body during surgery for monitoring physical parameters during and after the healing period. This network can continuously monitor various physiological signs and provide real-time feedback to the user and medical staff through SMS/e-mail. MBAN are particularly useful in large-scale in-field medical and behavioral studies and for patient monitoring.
The medical sensors market consists of sales of medical sensors such as strip sensors, wearable sensors, implantable sensors and ingestible sensors. Medical sensors are electronic devices that detect and measure physiological data to aid monitoring, and diagnosis and treatment of health conditions in humans. Going forward, technological advances such as 3D printing and medical body area network (MBAN), changing lifestyles and research, and diagnosis and treatment for cancer will drive the medical sensors market growth. The market’s growth in the historic period was also driven by the rise in funding for research and development of medical devices containing medical sensors. Research and development of medical devices is largely dependent on funding and grants.
For instance, in 2017, Senseonics Holdings Inc., a medical technology company, raised $41 million to commercialize its Eversense continuous glucose monitoring system and to support research and development (R&D) for next-generation versions of the sensor. Similarly, in 2016, Endotronix, Inc., a developer of wireless and implantable pressure sensors, raised $32 million in series C round of financing. These investments resulted in the development of medical sensors for a range of medical equipment, thus driving the market in the historic period.
The medical sensors market is segmented by type into diagnostics and imaging, monitoring, and therapeutics. The top opportunities in the global medical sensors market will arise in the diagnostics and imaging segment which will gain $3.5 billion of global annual sales by 2023.
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