Research in various interdisciplinary fields such as computing, engineering, and medicine means that that the broad idea of wearable and implantable body sensor networks (WIBSNs) holds promise for smart healthcare. The factors are collectively responsible for driving demand for wearable temperature sensors, and are thus fuelling the body-worn temperature sensors market.
Increasing awareness about fitness and health among people of all the age groups is propelling the growth of body-worn temperature sensors globally. Body-worn temperature sensors continuously monitor the health aspects such as body temperature, heart rate and pulse rate in infants, elders and patients. Temperature sensors are embedded in wearable devices to monitor temperature and other bodily activities. The demand for body-worn temperature sensors is increasing in the hospital sector due to low level of human intervention in operating these sensors.. At present, there are different types of wearable sensors in the market such as smart watches, sleep sensors, wearable patches, smart clothing and hand worn terminals among others.
How is Wireless Sensor Technology Gaining Prominence?
Today, wireless sensor technology is considered one of the key research areas in computer science and healthcare sector applications for a better quality of life. Wireless sensors and sensor networks in combination with computing and research in artificial intelligence has built a cross-disciplinary idea of ambient intelligence to overcome the challenges of everyday life.
In recent years, the increasing geriatric population pool in developed countries has become a concern. According to statistics from the Population Reference Bureau, in the next 20 years, individuals aged 65 and over will account for almost 20% of the total population in developed countries. Hence, governments and healthcare providers in these developed countries are continually striving to provide quality care and services to the rapidly growing elderly population, with an effort to reduce healthcare costs.
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To achieve this objective, wearable and implantable body sensors are a tool that has prominent application to integrate sensing and consumer electronics technologies that allows people to be monitored during everyday activities.
What are the Factors Fuelling the Market for Body-worn Temperature Sensors?
Body sensor network systems have the ability to provide healthcare services such as medical monitoring, oversee home appliances, emergency communication, memory enhancement, and medical data access. Continuous monitoring of patients with wearable and implantable body-worn temperature sensors facilitates early detection of emergency conditions for high-risk patients and also provides several healthcare services for people with varying cognitive and physical disabilities.
Moreover, the compressed and portable nature of wearable temperature sensors will positively impact the growth of the market. Increasing demand for smartwatches, heads-up displays, and hand-worn terminals is accentuating growth of the industrial and infotainment sector at present.
Transparency Market Research has published a new report on the global body-worn temperature sensors market. As per the report, the global body-worn temperature sensors market stood at US$7 mn in 2013 and is predicted to reach US$93.4 mn by 2020. The report, titled ‘Body-Worn Temperature Sensors Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020’, states that the global body-worn temperature sensors market is predicted to expand at a 45.70% CAGR during the period between 2014 and 2020.
Browse Market Research Press Release of Body-Worn Temperature Sensors Market:
The global body-worn temperature sensors market is a niche industry with a handful of established players leading in the market. The top five players accounted for 69% of the global market. Key players in the market include: Analog devices, Maxim Integrated, Texas Instruments, Measurement Specialties Inc., and STMicroelectronics. Since entering into the market requires high initial capital investments, it is tough for new entrants to compete with existing products and technology, suggests a new report by Transparency Market Research (TMR). However, the rising demand for low-cost devices among the middle class is expected to create an opportunity for new entrants in the market.