APAC's medical sensors market sees surge amidst rising elderly population

Its global market is projected to reach $3.6b by 2029.

Asia-Pacific’s (APAC) increasing elderly population has led to increased adoption of advanced medical equipment integrated with sensors, according to a report by MarketsandMarkets.

The report revealed that the rise in the ageing demographic has led to an increase in multiple chronic diseases, including diabetes and cardiovascular diseases, prompting hospitals and clinics to utilise advanced medical devices.

Moreover, the increase in government initiatives in countries, such as India and China, to support the manufacturing of such devices is also expected to drive the market’s growth in the region.

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Meanwhile, the global medical sensors market is forecasted to reach $3.6b at a compound annual growth rate of 8.1% by 2029.

The report mentioned that rising demand for wearable medical devices, burgeoning expenditure on healthcare, and surging adoption of IoT-based medical devices contribute to the market’s growth.