Analysis of Global Medical Sensors Market 2019-2023

Medical sensors are electronic systems used in medical equipment, devices, and probes that rely on sensor signals for control over activities, accurate diagnosis, and treatment. They are increasingly used for diseases diagnosis and healthcare applications such as remote patient monitoring.

Medical Sensors 

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Vendors are increasingly focusing on improving their distribution networks and ensuring the availability of medical sensors to end-users such as hospitals and clinics. The key strategies adopted by several conglomerate companies include joint ventures, acquisitions, partnerships, business expansion projects, collaborations, and investments. For instance, in July 2018, STMicroelectronics acquired software specialist Draupner Graphics that offers software such as TouchGFX, which is a highly advanced and optimized graphic user interface solution for microcontrollers used in medical applications. Similarly, in January 2019, ResMed acquired Propeller Health, a digital therapeutics company providing connected health solutions for people living with COPD and asthma. The industry developments help vendors expand their medical sensor portfolio. Thus, the increasing industry developments in the market are expected to support the growth of the medical sensors market at a CAGR of 9% during the forecast period.

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