A new report published by MarketsandMarkets, predicts the disposable medical device sensor market will reach $5.9 million, growing at a CAGR of 10.3% during the forecast period of 2015 to 2020.
A majority of this growth is attributed to the rising incidence of hospital-acquired infections, escalating healthcare costs, investments by venture capitalist firms in the development of disposable sensor-based devices, and government support for R&D activities for these devices, according to the company.
Disposable medical device sensors are emerging as powerful, cost-effective tools for diagnosing diseases, monitoring vital human parameters, and for various therapeutic applications, the company explained.
