Medical sensors are everywhere, and the market continues to boom. In 2012, the medical sensor market was already worth $8 billion, and biosensors contribute more than 60% of that total revenue, according to Markets and Markets. The trend is all over the world, with 42 percent of the market share coming from North America, 32 percent from Europe, and the rest filled out by Asia Pacific countries.
In 2015 alone, Pivotal reported that the consumer wearable sector is expected to grow by a whopping 290 percent, much of that driven by smartwatches and health and fitness trackers – and the Internet of Things in healthcare is expected to grow by another 59 percent each year through 2019.
There is no doubt medical sensors are the next big thing, and many companies are taking advantage of the fast-growing trends. In late 2014, several aspiring companies brought their best sensor ideas to compete in the Nokia Sensing XCHALLENGE, a competition that encourages startups to create the latest and greatest medical sensor technology. The fierce competition for a $525,000 grand prize enticed 90 of the best companies to bring their “A” game – here is the cream of the crop.
