Polaris Market Research recently published a research report on “Health Sensors Market Share, Size, Trends, Industry Analysis Report, By Product; By Application; By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa); Segment Forecast, 2022 – 2030” in its research database.
According to the research report, the global health sensors market size was valued at USD 41.10 billion in 2021 and is expected to reach USD 166.56 Billion By 2030, growing at a CAGR of 18.1% during the forecast period.
What are Health Sensors? How Big is Health Sensors Market Size?
- Overview
Health sensors, also called medical sensors, are used in electronics-based medical devices to measure health parameters. They convert various vital signs into electrical signals for processing. They help in the diagnosis, monitoring, and treatment of a disease or injury. Blood pressure, EEG, EEG, oxygen saturation, heart rate, magnetic field, and temperature are some of the types of health sensors. They can also physically monitor a patient’s internal organs.
Several features of health sensors include improved accuracy, repeatability, lower power consumption, low cost, and digital output. These devices are used in applications such as checking alcohol levels in blood analysis, breath analysis, and eye checking. The health sensors market demand is majorly driven by rising incidences of chronic diseases and growing demand for health data monitoring.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Highlights of The Report:
- All-inclusive information on the product portfolios of the top players in the market.
- An in-depth assessment of the geographic and business segments of the market.
- Regenerative medicine market segmentation on the basis of the type of product, application, and region.
- It offers a forward-looking perspective on the developing elements driving or controlling the business area’s development.
- The recent research and development projects performed by each key player.
- A thorough analysis of the market’s value chain and assess the effect of Porter’s five forces.
Some of the Top Market Players Are:
- Abbott Laboratories
- Analog Devices Inc.
- Avago Technologies Ltd
- Danaher Corp
- GE Healthcare
- Honeywell International Inc. Hologic
- Koninklijke Philips
- International Inc.
- Medtronic Plc
- Maxim Integrated Product Inc.
- Smith’s Medical Inc.
- Sensirion AG
- Stryker Corp
- Robert Bosch GmbH
- Roche
- TDK Corporation
- TE Connectivity Ltd
- Texas Instruments Incorporated
- Varian Medical System
To Know More About Key Players, Download Report PDF Brochure
Growth Driving Factors
- Increasing application of sensors in medical devices favoring the market growth
Increasing technological developments, rising use of sensors in portable and connected medical devices, and increasing demand for wearable medical devices are some of the prominent health sensors market trends boosting the industry growth. The rising interest of people in recording & tracking information about their health is anticipated to fuel market growth. Other factors positively influencing the industry expansion include the rising life expectancy, increasing adoption of IoT-based health devices, and rapidly growing expenditure on healthcare.
Moreover, several organizations are developing and launching health sensor devices capable of sensing blood oxygen and heart and pulse rate, thus supporting the health sensors market industry growth. Also, the growing demand for continuous monitoring in healthcare services is another factor boosting the growth of the wearable health sensors market. The growing geriatric population is one of the key reasons behind this industry’s expansion. In addition, a surge in demand for low-cost sensors with low power consumption and better functionality augmented the growth of health sensors market sales.
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Recent Developments
- In June 2020, the U.S. FDA approved Abbott’s integrated Continuous Glucose Monitoring (iCGM) FreeStyle Libre 2 system. This device enables monitoring glucose levels in adults and children (aged 4 years & above) in real-time.
- In April 2022, the U.S. FDA approved Fitbit’s new PPG (photoplethysmography) algorithm to detect Atrial Fibrillation (AFib).
Segmental Analysis
- Wearable sensors segment held the largest share in 2021
Based on the product, the wearable sensors market segment will witness high growth during the forecast period due to their features. Increasing R&D spending and business partnerships are estimated to boost health sensors market share. Also, rising focus on better functioning smart devices, enhancement in battery sizes, and growing demand for constant tracking in healthcare services are the main factors contributing to the health sensors industry evolution.
- Chronic illness & at-risk monitoring segment generated the largest market share in 2021
By application, the chronic illness & at-risk monitoring segment accounted for the largest revenue share in 2021 because of the high demand for point-of-care diagnostics along with the rising prevalence of chronic diseases. It is important to monitor chronic conditions like diabetes, and thus there is the availability of various technologies to monitor patient health issues and track activities. This factor is majorly accelerating segment growth.
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Report Scope: Health Sensors Market
| Report Attribute | Details |
| Market Outlook for 2030 | USD 166.56 Billion |
| Market Size 2021 Value | USD 41.10 Billion |
| Expected CAGR Growth | 18.1 % from 2022 – 2030 |
| Base Year | 2021 |
| Forecast Year | 2022 – 2030 |
| Top Market Players | Abbott Laboratories, Analog Devices Inc., Avago Technologies Ltd, Danaher Corp, GE Healthcare, Honeywell International Inc. Hologic, Koninklijke Philips, International Inc., Medtronic Plc, Maxim Integrated Products Inc., Smith’s Medical Inc., Sensirion AG, Stryker Corp, Robert Bosch GmbH, Roche, TDK Corporation, TE Connectivity Ltd, Texas Instruments Incorporated, Varian Medical System |
| Segments Covered | By product, By Application, and By Region |
| Customization Options | Customized purchase options are available to meet your research needs. Explore customized purchase options |
North America held the highest share of the industry globally
North America accounted for the highest market share owing to its well-established medical base, the presence of leading players, and the rise in healthcare spending. Also, the growing adoption of novel technologies is boosting the demand for the health sensors market in the region. Further, factors such as the increasing adoption of patient monitoring and homecare equipment for regular and long-term patient monitoring are expected to flourish in the regional market development.
Browse the Detail Report “Health Sensors Market Share, Size, Trends, Industry Analysis Report, By Product; By Application; By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa); Segment Forecast, 2022 – 2030” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/health-sensors-market
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The Report Responds to The Following Key Questions:
- What will be the market size and growth rate over the predicted period?
- What are the various trends in the industry that are influencing its growth?
- What are the market’s main competitors’ prospective growth possibilities and threats?
- Which are the key areas of applications and product types that may expect a huge demand during the forecast period?
- What are the key firms’ tactics for gaining the highest share?
- What are the main findings of Porter’s five forces analysis and the SWOT analysis of the major companies in the worldwide market?
Polaris Market Research has segmented the health sensors market report based on product, application, and region:
By Product Outlook
- Hand Held Diagnostic Sensors
- Chronic illness & At Risk –monitoring
- Patient Admission Triage
- Logistical Tracking
- In–housing clinical Monitoring
- Post–Acute Care Monitoring
- Wearable Sensors
- Disposable Wearable
- Non-disposable Wearable
- Wellness Monitoring
- Chronic Illness & At Risk-monitoring
- Patient Admission Triage
- Logistical Tracking
- In-hospital Clinical Monitoring
- Sensor Therapeutics
- Post-acute Care Monitoring
- Ingestible /Implantable Sensors
- Wellness Monitoring
- Chronic Illness & At Risk-monitoring
- Patient Admission Triage
- In-hospital Clinical Monitoring
- Sensor Therapeutics
- Post-acute Care Monitoring
By Application Outlook
- Chronic illness & At Risk – Monitoring
- Wellness Monitoring
- Logistic Tracking
- In Hospital Clinical Monitoring
- Post-Acute Care Monitoring
- Home Based
- Others
- Sensor Therapeutics
- Others
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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