EUROPE DISPOSABLE MEDICAL DEVICE SENSORS MARKET FORECAST 2018-2026
KEY FINDINGS The Europe disposable medical device sensor market is expected to rise from $1618.8 million in 2017 to $3862.2 million by 2026, exhibiting a CAGR of 10.15% over the forecast period of 2018-2026.
MARKET INSIGHTS Healthcare spending has climbed more rapidly than the economic growth in Europe. It is expected that by 2030, the healthcare expenditure in Europe is likely to increase by 6% points and account for 11%-15% of the total EU GDP. This is a major driving factor for the disposable medical device market. The EU’s regulatory structure imposes stringent rules and regulations for the introduction of medical devices into the market, thus assuring quality end-product. The German market dominated the European scene in 2017. However, the Italian market is expected to rise with the highest CAGR over the forecast period. The Italian government is committed to providing quality healthcare at an affordable price by adopting new advance therapeutics and diagnostics.
COMPETITIVE INSIGHTS Companies like Medtronic PLC, GE Healthcare, TE Connectivity, Analog Devices, STMicroelectronics, Olympus Corporation, Lifescan Inc (Acquired by Johnson & Johnson), Hmicro Inc, Honeywell, Philips Healthcare and Smiths Medical are dominating this region.