| Status : Published | Published On : May, 2023 | Report Code : VRSME9030 | Industry : Semiconductor & Electronics | Available Format :
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Page : 185 |
Global Ultrasonic Air In Line Sensor Market – Analysis and Forecast (2023-2030)
Industry Insights by Type (Standalone Chip-Level Integration, and Prototype Configuration), by Application (Blood Separators, Dialysis & Transfusions, Diagnostic Systems, Heart-Lung Machines, and Pumps For Medical Technology), by End-User (Hospitals & Home Care Settings, and Academic & Research Institutes)
Industry Overview
The global market for ultrasonic air in line sensors is poised for significant growth in the coming years. It is projected to expand from USD 59.45 billion in 2023 to USD 75 billion by 2030, exhibiting a commendable compound annual growth rate (CAGR) of 3.2% throughout the forecast period. These sensors play a crucial role in the medical field by assisting healthcare professionals in identifying air bubbles present in fluid delivery lines during medical procedures. The application of ultrasonic air in line sensors is particularly prevalent in surgical procedures and rapid blood transfusions.
Detecting and preventing the entry of air bubbles into the bloodstream is of paramount importance, as these bubbles can cause blockages, potentially leading to severe health complications such as heart attacks or strokes. As a result, the non-invasive detection of bubbles using ultrasonic technology holds significant value and occupies a critical position within the medical industry.
In addition, ultrasonic air in line sensors is widely used for specific object detection, distance management, and detecting anti-collision, which further promotes the growth of the global ultrasonic air in the line sensor market.
The COVID-19 outburst has repercussions on a broad spectrum of industries and the ultrasonic air in line sensor market is also adversely affected by the coronavirus. Factor such as fewer hospital visits by the patients having problems such as cardiological and urological to avoid the infection of COVID-19. Also, the shift in the treatment preference for COVID-19 patients will show the slow growth of the ultrasonic air in line sensors market. Moreover, strict lockdowns and restrictions on the movement of people around the world have disrupted the supply chain, resulting in the shortage of the product in the market. Nevertheless, the ultrasonic air in line sensor market is anticipated to be on its track in the next quarter of the forecasted period.
Market Segmentation
Insight by Type
On the basis of type, the ultrasonic air in line sensor market is segmented into standalone chip-level integration and prototype configuration. Of all these segments, prototype configuration is expected to grow faster during the forecast period. Prototype configuration helps the service providers to speed up system validation and integrate hardware and software products, helping them to reduce the product design cycle. The standalone chip-level integration will also dominate the market during the forecast period, owing to rising advancements in patient portable devices.
Insight by End-User
On the basis of end-user, the ultrasonic air in line sensor market is divided into hospitals & home care settings, and academic & research institutes. Of these two categories, hospitals & home care settings dominate the ultrasonic air-in-line sensor market. The evolving healthcare technology and increasing consumerism in hospitals are integrating digital technology into the traditional hospital system to create an effective healthcare system without any restrictions.
Global Ultrasonic Air In Line Sensor Market Report Coverage
|
Report Metric |
Details |
|
Historical Period |
2018–2022 |
|
Base Year Considered |
2022 |
|
Forecast Period |
By 2030 |
|
Market Size in 2021 |
$59.45 Billion |
|
Revenue Forecast in 2030 |
$75 Billion |
|
Growth Rate |
CAGR 3.2% |
|
Segments Covered in the Report |
By Type and By End- User |
|
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
|
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and Rest of the World |
Industry Dynamics
Growth Drivers
The global ultrasonic air in line sensor market is experiencing significant growth due to various factors. Safety awareness in the automotive and healthcare sectors is increasing, leading to a higher demand for reliable sensor technology. Additionally, the automotive industry is witnessing a rise in automation adoption, further fueling the market growth. The healthcare sector is also driving the market, as the number of transfusions and surgeries is increasing, requiring accurate and efficient sensors.
The prevalence of chronic kidney diseases is on the rise, creating a need for advanced sensor solutions in the healthcare sector. Furthermore, the continuous investment in research and development activities and the constant advancements in ultrasonic sensor technology contribute to improved accuracy and performance, boosting the market growth.
One of the primary benefits of these sensors is their ability to prevent collisions and assist users in measuring distances accurately. This feature not only enhances safety but also encourages the adoption of ultrasonic air in line sensors in various industries, thereby driving the global market growth.
Manufacturers in the market are increasingly focusing on building strong brand images and improving product quality. To achieve this, the ISO 13485 certification has become mandatory for deploying air-in-line sensors. This certification requirement is expected to further propel the growth of the global ultrasonic air in line sensor market, as it assures customers of high-quality and reliable products.
Challenges
The decline in industry demand and the emergence of alternative technologies are the main limiting factors observed by vendors in the global market for ultrasonic air in line sensors. There are few substitutes for the technologies available in the market that can provide better functions and lower costs, further hampering the growth of the global market for ultrasonic air in line sensors.
Industry Ecosystem
Globally, the ultrasonic air in line sensor suppliers provide customers with new products and modify prevailing products to provide diversified solutions and to help them in obtaining differentiator tags in the market. Furthermore, advanced technologies are being developed to provide better and faster response to the manufacturing process and the ever-increasing R&D process to bring new developments, thus making products more efficient, and improve the global market demand for the global ultrasonic air in line sensors. Also, government regulations and certifications required to deploy high-quality air in line sensors will ensure the safety of patients and increase the performance of medical equipment, resulting in the growth of the global air in line sensors market.
Geographic Overview
Geographically, North America has the largest ultrasonic air in line sensors market, owing to the presence of giant manufacturers in the automobile industry and sensor market in this region. The existence of a prominently established healthcare sector will fuel the growth of the ultrasonic air in line market in this region. Nevertheless, the emergence of self-driving cars will drive the growth of ultrasonic air in line sensors exponentially.
Moreover, Asia-Pacific is anticipated to show substantial growth throughout the projected period. The growth of the ultrasonic air in line sensor market in this region is due to the presence of large manufacturing units in countries such as India and China as well as the booming infrastructure in the healthcare sector. Additionally, the government initiatives to develop security guidelines in the medicine and automobile sector also provide tremendous growth to the ultrasonic air in line sensor market in this region.
Competitive Insight
The industry players in the ultrasonic air in line sensor market are investing to improve the quality of the prevailing products and develop the latest technology to strengthen their position in the market. In addition, major players are forming strategic alliances to help them improve cost efficiency and obtain competitive benchmarks.
Sensaras LLC, leading manufacturers of liquid level sensors uses ultrasonic technology to detect liquid levels with innovative design, and excellent quality. They provide quick response, excellent quality and timely delivery. Sensaras LLC was founded in 2013 and purchased a new factory in New York in 2019.
The prominent players in the ultrasonic air in line sensor market include Biosonix Ltd, Sensaras LLC, TE Connectivity Ltd, ClearLine MD, Piezo Technologies, CeramTec GmbH, and Strain Measurement Devices, Inc, Siansonic Technology Co., Ltd., Moog, Inc., and Introtek International, L.P.
The Ultrasonic Air In Line Sensor Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2023–2030.
Segments Covered in the Report
- By Type
- Standalone Chip-Level Integration
- Prototype Configuration
- By End-User
- Hospitals & Home Care Settings
- Academic & Research Institutes
Region Covered in the Report
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
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Source: VynZ Research
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Source: VynZ Research
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Ultrasonic Air In Line Sensor Market