Rising investment in healthcare infrastructure and technology is bolstering the growth of intraoperative sensors market.
Rising investment in healthcare infrastructure and technology is bolstering the growth of intraoperative sensors market.
The global intraoperative sensors market is expected to grow at a positive pace as intraoperative sensors have become a key technology used in the treatment of orthopedic medical procedures. According to a study by Fact MR, increasing focus on making intraoperative sensors smarter will aid the overall expansion of the market. The rising incidence of orthopedic disorders, kidney related disorder, and optic related ailments, will result in higher demand for intraoperative sensors.
Key manufacturers are investigating in research initiatives to expand their portfolio. The participants in the market are continuously converging in on launching mechanically progressed intraoperative sensors. Some of the manufacturers are focusing on launching novel technologies such as 3D/4D imaging and others to aid minimally invasive surgical procedures.
Due to the rising interest in the advance healthcare and presence of some of the leading market players, North America has emerged as the leading market for intraoperative sensors. According to the American Hospital Association, about 2/3rd of healthcare providers in the U.S. are adopting novel technologies. This presents a conducive environment for sales of intraoperative sensors.
“As competition continues to soar, market players will focus on launching advanced technologies and entering into strategic collaborations with other firms to gain competitive edge,” says the Fact.MR analyst.
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Key Takeaways
- Willingness to spend on advanced healthcare will support growth in the U.S.
- Favorable government and healthcare policies in Canada will present attractive opportunities for growth.
- Increasing spending on expansion of healthcare infrastructure will catapult India as a key market for intraoperative sensors.
- Rising demand for advanced healthcare will push growth in China and Japan.
- Hospitals will remain key end users on account of registering higher footfall of patients.
Key Driving Factors
- Increase in cases of orthopedic, kidney, and optic disorders are fuelling the demand for intraoperative sensors.
- Technological advancements leading to the launch of smartphone-based sensor technologies will create growth opportunities.
- Increasing application in various surgical procedures including orthopedic, optic, kidney dialysis, and other surgeries will fuel demand.
Key Restraints
- High cost of intraoperative sensors negatively affecting the market demand.
- Intraoperative sensors need skilled professionals to operate these devices, which offsets growth of the market.
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Competitive Landscape
Some of the leading manufacturers in the intraoperative sensors market are Posifa Technologies Measurement Specialties Inc., Koninklijke Philips N.V., ABB Group, Honeywell International Inc., Analog Devices, Robert Bosch GmbH Smiths Medical STMicroelectronics NV, STMicroelectronics, Medtronic PLC,m First Sensor AG, GE Healthcare, Siemens AG and Samsung Electronics Co. Ltd.
Fact.MR has identified the market as overly fragmented in nature. Prominent players are joining hands with top healthcare and biopharma companies to maintain their lead in the market. Besides this, product launches have remained a key strategy. For example, in March 2018, Philips received clearance for the launch of Big Bore sliding gantry, which reviews, diagnoses, and analyzes images faster than technologies with low dose exposure.
More Insights on the Intraoperative sensors market
In its latest report, Fact.MR offers unbiased analysis of the intraoperative sensor market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (Temperature sensor, Pressure sensor, Soft tissue sensor, and Robotic Operative sensor), Modality (Physical occlusion heat, Ferrous objects, Magnetic fields temp, Ambient light, and Metal reflectors occlusion) end user (Hospitals, Ambulatory Surgical Centers, Specialized Orthopaedic Centers), across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa).
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Key Questions Covered in the Report
- Which factors will drive the intraoperative sensors market?
- What is likely to be the future outlook intraoperative sensors market?
- What are the key restraints hampering intraoperative sensors market?
- Which region has the highest share in the intraoperative sensors market?
- Which are the leading players operating in intraoperative sensors market?
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Source: Fact.MR