Lucintel's latest market report analyzed that medical sensor provides attractive opportunities in the hospital, clinic, and home care setting segments. The medical sensor market is expected to reach $31.9 billion by 2028 with a CAGR of 13.5%. In this market, biosensors is the largest segment by product, whereas hospital is largest by end use.

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Based on product, the medical sensor market is segmented into biosensors, temperature sensors, motion sensors, image sensors, flow sensors, pressure sensors, and others. The biosensors segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to the growing usage for these sensors in laboratories and home care setting owing to their capabilities of real-time diagnosis and monitoring.

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The Medical Sensor Market is marked by the presence of several big and small players. Some of the prominent players offering medical sensor include GE Healthcare, STMicroelectronics, Honeywell, Omron, and TE Connectivity.

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