Medical Sensors Market: Rapid Rise in Global Geriatric Population to help Market reach US$15.5 billion by 2019 Transparency Market Research (TMR) has recently announced the release of a market study based on the global medical sensors market with an estimation for the market to develop at a CAGR of 6.3% during the period from 2013 to 2019 and reach U$15.5 billion by the end of the forecast period. The report, titled “Medical Sensors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019�, notes that the global market for medical sensors stood at US$10.1 billion in 2012. The impressive growth the market has registered so far is on account of rising prevalence of chronic diseases coupled with the increase in the global geriatric population, which requires better medical supervision. The research report states that a shift towards healthcare at home is the rising trend in the global medical and healthcare industry. The increasing cost associated with treatment in hospitals is encouraging patients to receive healthcare at home, triggering the demand for various healthcare devices utilized in this treatment method. Medical sensors are an important category of devices used in healthcare at home, hence, the rising demand for home healthcare is also influencing the global medical sensors market to an extent.
The number of people of age 65 and above is expected to rise from 605 million to 2 billion by 2050. The rise in the geriatric population around the world is driving the overall healthcare market, especially the home healthcare market. The global home healthcare market is expected to demonstrate a CAGR of 8.1% during the forecast period of 2014 to 2020. The aging population prefers home healthcare over hospital care, as home healthcare is cost-effective and more comfortable. These interrelated trends are expected to drive the market for medical sensors in the foreseeable future. However, the global home healthcare market needs to offer better re-imbursement policies and a faster approval procedure to ensure sustained growth in the global medical devices industry. Broadly, the global medical sensors market is segmented by product types, application, and geography. The report on the global medical sensors market offers a detailed impact analysis of the most influential trends shaping the global market. Furthermore, the most prominent trends in the