Worldwide Non-Optical Pressure Sensor Industry to 2025 - Key Drivers, Restraints and Opportunities

DUBLIN, Sept. 15, 2020 /PRNewswire/ -- The "Non-Optical Pressure Sensor Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.

The global non-optical pressure sensor market is estimated to be valued at US$2.445 billion in 2019 and is projected to grow at a healthy CAGR during the forecast period.

Pressure sensors are referred to as devices that are equipped with pressure-sensing elements for the measurement of pressure and finally covert the value into an electronic signal in the form of an output. The market is projected to hold strong prospects for growth in the forecast period due to the immense applications of pressure sensors across varied end-use industries. For example, in HVAC systems, pressure systems are utilized for monitoring the condition of air filters. As filters clog with particulates, a differential pressure across filter rises and this can be detected.

The improved GPS location is offered by the use of pressure sensors. An altitude can be measured through the detection of barometric pressure due to an association between the barometric pressure and altitude in the atmosphere. Furthermore, pressure sensors are utilized in wearables for the monitoring of patients and the elderly in assisted living environments. In the case of an event, like a fall, the sensors bring it to the notice of a medical staff or a family member. The mechanism lies in the measurement of small changes in air pressure by the pressure sensor.

In the present COVID-19 scenario, the use of pressure sensors in medical ventilators is fueling the market demand in 2020 owing to the surging demand for ventilators for the treatment of patients suffering from the deadly disease. However, in other industries, the market is projected to experience a slight decline in 2020 owing to the shutting down of manufacturing operations due to labour shortages, work-from-home, and lockdown initiatives. Also, the advent of optical pressure sensors and due to its better performance in comparison to the traditional pressure sensors, the market growth is projected to hamper in the forecast period.

The growing utilization of automated drug delivery system is fueling the market growth during the course of the forecast period.

It has been observed that pressure sensors are placed in automated drug delivery systems in order to deliver proper dosage to the patients. Hence, the market is projected to grow at a significant pace over the next five years. The major factors supporting the growth of the utilization of drug delivery systems include growing number of chronic diseases like diabetes, and respiratory diseases. In addition, the growing geriatric population suffering from age-associated diseases are further propelling the market demand. It has been predicted by the National Institutes of Health that the diabetes revalence in America is predicted to rise by 54% affecting over 54.9 million Americans between 2015-2030.

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SOURCE Research and Markets

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