Health Sensors Global Market Report 2024

The health sensors market size has grown rapidly in recent years. It will grow from $50.82 billion in 2023 to $60.73 billion in 2024 at a compound annual growth rate (CAGR) of 19.5%. The expansion observed in the historical period can be attributed to several factors. These include educational initiatives promoting health sensor usage, the role of health sensors in managing healthcare costs by facilitating early detection and intervention, the growth of the consumer electronics market leading to increased adoption of health sensors, streamlined patient data management through integration with Electronic Health Record (EHR) systems, and continuous enhancements in sensor accuracy and reliability, making them more suitable for critical health applications.

The health sensors market size is expected to see rapid growth in the next few years. It will grow to $124.36 billion in 2028 at a compound annual growth rate (CAGR) of 19.6%. The anticipated growth in the forecast period can be attributed to several factors. These include increasing government initiatives promoting the adoption of mHealth products, stringent regulatory requirements stimulating innovation in sensor accuracy and reliability, economic growth in emerging markets driving healthcare spending, the rise in lifestyle diseases necessitating continuous monitoring, and the implementation of corporate wellness programs encouraging health sensor usage. Major trends expected in the forecast period encompass the development of environmental sensors for health monitoring, advancements in data analytics and predictive health insights, innovation in fabric-integrated sensors, tailored healthcare solutions, and advances in biotechnology.

The increasing adoption of home-based healthcare services is poised to drive the expansion of the health sensors market in the coming years. Home-based healthcare services encompass a range of medical and non-medical support provided to individuals in their residences, aiding in recovery, chronic illness management, and daily living activities. This shift is driven by factors such as an aging population, cost-effectiveness, technological advancements, and a preference for independent living. Health sensors play a crucial role in enhancing home-based healthcare by facilitating remote monitoring of vital signs and health parameters, ultimately improving care quality and patient outcomes. For instance, recent data from Statistics Canada indicates a notable utilization of formal home care services among Canadian households in 2021, with a significant proportion receiving either home health care, support home care, or both types of assistance. This trend underscores the increasing reliance on home-based healthcare services, thereby stimulating demand for health sensors.

Leading companies in the health sensors market are focusing on the development of continuous glucose monitoring (CGM) systems, particularly for individuals with diabetes, to enable real-time glucose monitoring. CGM systems are medical devices providing continuous measurements of glucose levels in the interstitial fluid. For example, Abbott Laboratories recently introduced the FreeStyle Libre 3 system in October 2022. This CGM solution caters to individuals aged four and above with diabetes, offering continuous glucose monitoring capabilities without the need for routine fingerstick tests. It includes features such as real-time glucose alarms, compatibility with certain mobile devices via its app, and data sharing functionalities with healthcare providers, enhancing overall diabetes management.

In November 2022, iZafe AB expanded its presence in the health sensors market by acquiring Pilloxa for $2.81 million. This strategic acquisition bolsters iZafe's expertise in digital health solutions, particularly in medication adherence support. Pilloxa, a digital health company based in Sweden, specializes in health sensors through its development of a patient-centric adherence platform integrating smart hardware with embedded sensors. This acquisition strengthens iZafe's capabilities in leveraging health sensor technologies to enhance medication adherence and patient care.

Major companies operating in the health sensors market are Apple Inc., Samsung Electronics Co. Ltd., Johnson & Johnson, Abbott Laboratories, Medtronic plc, Nokia Corporation, Texas Instruments Incorporated, Koninklijke Philips N.V., Strykar Healthcare, GE HealthCare Technologies Inc., STMicroelectronics, Boston Scientific Corporation, Analog Devices Inc., OMRON Healthcare Inc., Garmin Ltd., Smiths Group plc, Dexcom Inc., Masimo Corporation, Nihon Kohden Corporation, Google Fitbit, Nonin, Sotera Inc., Empatica Inc., AliveCor Inc., Shimmer Sensing.

North America was the largest region in the dominated market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the health sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the health sensors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Health sensors are devices utilized to monitor various physiological parameters or health-related data in individuals. These sensors can be worn on the body or integrated into everyday objects, typically measuring parameters such as heart rate, blood pressure, body temperature, oxygen saturation, glucose levels, and activity levels. In healthcare settings, health sensors are employed for monitoring patients' health status, diagnosing medical conditions, and managing chronic diseases.

The primary products of health sensors include handheld diagnostic sensors, wearable sensors, and ingestible or implantable sensors. Handheld diagnostic sensors are portable devices used for diagnosing and monitoring diseases at the point of patient care, outside of traditional healthcare settings. They find applications in chronic illness and at-risk monitoring, wellness monitoring, patient admission triage, logistical tracking, in-hospital clinical monitoring, sensor therapeutics, post-acute care monitoring, and other areas, utilized by hospitals and clinics, long-term care centers and nursing homes, home care settings, and various other end users.

The health sensors market research report is one of a series of new reports that provides health sensors market statistics, including the health sensors industry global market size, regional shares, competitors with health sensors market share, detailed health sensors market segments, market trends, and opportunities, and any further data you may need to thrive in the health sensors industry. These health sensors market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The health sensors market consists of sales of blood glucose meters, pulse oximeters, electrocardiogram (ECG) monitors, and thermometers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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