Body Sensor Market - Growth, Trends, and Forecasts (2020 - 2025)

Body sensors continuously monitor and help people to take preventive measures and avoid any further complications. The primary factors such as increasing research and development activities in health technology, rising disposable incomes, and increasing geriatric population are propelling the growth of the body sensor market. According to the World Health Organization (WHO), between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%. The increase in the number of geriatrics leads to consequences, with the growing burden of chronic and life-threatening diseases that demands better monitoring facilities at the hospitals operating rooms and outside, thus driving the demand of body sensors market.

However, lack of awareness, cost variations, and stringent regulatory guidelines are expected to restrain the growth of the global market in the forecast period.

Key Market Trends

Wearable Segment is Expected to Register a Better Growth over the Forecast Period

By placement type, the market has been segmented into Wearable and Implantable. The rise in adoption of the wearable devices, innovative application and technological advancement in this field is expected to fuel the market growth in the forecast period. The market consist of sensors that monitors different parameters of the body. These sensors collect information about different parameters and display them on-screen by monitoring physical activities, resulting in high demand for wearable devices. In addition, growing research and development activities and rising geriatric population also contribute to the growth of the body sensor market. In recent years, many research communities across the several major universities in collaboration with companies are building upon new wearable devices to monitor the body parameters using sensors such as in 2019, Stanford engineers developed experimental stickers that pick up physiological signals emanating from the skin, named as BodyNet. Such factors boosts the interest of many ventures, investors and companies to invest into this segment of the market.

North America leads the Body Sensor Market

North America has the highest penetration for body sensors as they are early adopters of newer technology. The rapid increase in product innovation and the increasing demand for these sensors in the various fields are expected to drive the market at a faster rate. For instance, Texas Instruments has focussed on developing HDC2010, an integrated humidity and temperature sensor innovated in 2017, has complemented its product offering. Europe and the Asia Pacific are followed next after North America owing to the presence of a diversified patient pool, emerging economies, and rise in the collaboration of domestic and international companies in these regions, thus driving this market.

Competitive Landscape

The body sensor market is competitive and with the entrance of key players such as Apple and Fitbit, the demand for these sensors in the market is expected to grow due to increased competition amongst the existing players. For instance - Abbott Laboratories, Apple Inc., ASC GmbH, Fitbit, Inc., Garmin, Koninklijke Philips, Texas Instruments, etc. are providing these products across the globe.

Reasons to Purchase this report:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

This product will be delivered within 2 business days.