Optical Sensors Market Share

North American Market Forecast

Optical sensing market in North America is predicted to account for the largest share of 32% by 2037 impelled by growing spending in healthcare. This has created more demand for optical sensing in the region since it is used in various medical applications such as endoscopy, fluorescence spectroscopy, and biomedical optics.

In 2021, the United States spent over 2% more on health care, amounting to roughly USD 4 trillion per person.

European Market Statistics

The Europe optical sensing market is estimated to be the second largest, during the forecast timeframe led by increasing focus on sustainability. One of the fundamental tenets of the Treaty on European Union is sustainable development, and the country has implemented several regulations to achieve its 2030 goal of over 50% reduction in net emissions from 1990 levels. As a result, there is an increase in demand for optical sensing in the region as it supports remote patient monitoring which reduces the need for travel, leading to a more sustainable healthcare system.

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of optical sensing is estimated at USD 3.07 billion.

The optical sensing market size was valued at USD 2.71 billion in 2024 and is anticipated to cross USD 19.74 billion by the end of 2037, registering more than 16.3% CAGR during the forecast period i.e., between 2025-2037. Growing electronics sector and the growing popularity of minimally invasive procedures will boost the market growth.

North America is predicted to account for the largest share of 32% by 2037, impelled by growing spending in healthcare sector in the region.

The major players in the market include ABB, ROHM Semiconductor, TE Connectivity Ltd., Fairchild Semiconductor, Hamamatsu Photonics K.K., AMS AG, Vishay Intertechnology, Inc., Alphasense, Analog Devices, Inc., Texas Instruments Inc., Stmicroelectronics N.V.

Optical Sensors Market Share