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.
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However, lack of awareness, cost variations, and stringent regulatory guidelines are expected to restrain the growth of the global market in the forecast period.
Scope of the Report
As per the scope of the report, body sensors are used for monitoring blood pressure, respiration, temperature and other vital parameters of the body. These sensors are related to wearable computing devices. It can be installed within the body implants or can be surface-mounted within the body.
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 a large patient pool 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 boost the interest of many ventures, investors and companies to invest in 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, which 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 a rise in the collaboration of domestic and international companies in these regions, thus driving this market.
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.
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– Abbott Laboratories
– Apple Inc.
– ASC GmbH
– Fitbit, Inc.
– Garmin Ltd.
– Koninklijke Philips N.V.
– NXP Semiconductors N.V.
– Texas Instruments Incorporated
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Table of Contents
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Research and Development Activities in Health Technology
4.2.2 Rising Disposable Incomes
4.2.3 Increasing Geriatric Population
4.3 Market Restraints
4.3.1 Lack of Awareness
4.3.2 Stringent Regulatory Guidelines
4.4 Porter’s Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Blood Pressure Sensor
5.1.2 Respiration Sensor
5.1.3 Temperature Sensor
5.1.4 ECG Sensor
5.2 By Placement Type
5.3.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.4 Middle East & Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle East and Africa
5.3.5 South America
220.127.116.11 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Apple Inc.
6.1.3 ASC GmbH
6.1.4 Fitbit, Inc.
6.1.5 Garmin Ltd.
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