Body Worn Sensors Market is set to witness a Huge Growth with a USD 512.82 million at a CAGR of 24.5%, During the Forecast Period 2030
Increasing prevalence of Body Worn Sensors Market report underlines the major industry growth drivers, challenges, opportunities and restraints for the leading key players. This market research report also identifies and analyses the emerging trends along with major driving factors, challenges and opportunities in the market. The report is a great resource which provides current and upcoming technical and financial details of the industry. The report includes market shares for global, Europe, North America, Asia Pacific and South America. Body Worn Sensors Market research report assesses the ongoing as well as future performance of the market in addition to brand-new trends in the market.
An influential Body Worn Sensors Market report explains better market perspective in terms of product trends, marketing strategy, future products, new geographical markets, future events, sales strategies, customer actions or behaviours. Moreover, this market document underlines plentiful factors such as general market conditions, trends, inclinations, key players, opportunities, and geographical analysis which all aids to take business towards the growth and success. The report brings into focus, the more important aspects of the market or Healthcare industry. Body Worn Sensors Market report provides broader perspective of the market place with its comprehensive market insights and analysis which eases surviving and succeeding in the market.
According to World Health Organization statistics, the global per capita healthcare expenditure in 2017 was USD 1,064.741. The global healthcare expenditure per person increased from USD 864.313 in 2008 to USD 1,110.841 in 2018, with the United States leading the way with a healthcare expenditure of USD 10, 623.85 per capita in 2018. Domestic general government healthcare spending in the United States was USD 5355.79 in 2018, up from USD 3515.82 in 2008. These are some of the factors that have contributed to market growth in recent years.
Data Bridge Market Research analyses that the body worn sensors market which is USD 88.84 million in 2022, is expected to reach USD 512.82 million by 2030, at a CAGR of 24.5% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Body-worn temperature sensors continuously monitor infants, the elderly, and patients’ health parameters such as body temperature, heart rate, and pulse rate. Temperature sensors are embedded in wearable devices to monitor body temperature and activity. Because of the low level of human intervention required to operate these sensors, the demand for body-worn temperature sensors is increasing in the hospital sector. Furthermore, body-worn temperature sensors automatically record bodily activities at regular intervals.
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Body Worn Sensors Market Dynamics
Drivers
Rising demand of physiological monitoring
Physiological monitoring aids in diagnosing and evaluating ongoing treatment for a wide range of people suffering from neurological, cardiovascular, and pulmonary disorders. Furthermore, home-based motion solutions promote individual independence, a major factor driving the demand for body-worn temperature. Other factors driving the market include increasing health-consciousness among informed individuals of all ages. Furthermore, rising demand across a wide range of applications such as mechanical, clinical, and infotainment is expected to drive the global market significantly during the forecast period.
Technological advancements
Technological advancements in body-worn sensors are expected to produce “hearables,” which will allow notifications and data to be heard rather than read. The body worn temperature sensors market serves industries such as information technology, fitness and wellness, clinical settings, healthcare and medical, industrial, and military. Over the forecast period, the global body-worn temperature sensors market is expected to be driven by rising demand in the aforementioned application areas. Ambulatory/surgical, PACU, inpatient, ED, LTC, dialysis, and continuous glucose, temperature, and blood pressure monitoring may be in high demand in the medical industry. However, the high cost of sensors and the slow acceptance of these products are the major factors impeding global market growth.
Opportunities
Rising healthcare expenditure
According to the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change in National Health Expenditures (NHE) in the United States was 5.2% in 2020, compared to 4.5% in 2019. Furthermore, national health expenditures are expected to reach USD 6,192.5 billion in 2028, with per capita spending reaching USD 17,611 in the same year. These are significant indicators that are expected to generate lucrative business opportunities in the coming years.
Global Body Worn Sensors Market Scope
The body worn sensors market is segmented on the basis of sensor types, type, application, care setting, device placement and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Sensor Types
Pressure Sensors
Motion Sensors
Temperature Sensors
Image Sensors
Medical Based Sensor
Others
Application
Fitness and Wellness
Infotainment
Healthcare and Medical
Clinical Setting
Industrial and Military
Care Setting
Hospital
Home
Outpatient Clinic
Long-Term Care Facility
Type
Biosensors
Smart Watches
Wearable Patches
Hand Worn Terminals
Smart Clothing
Others
Device Placement
Body Wear
Eye Wear
Foot Wear
Wrist Wear
Others
End-User
Manufacturing
Retail
Trade and Transportation
Government and Public Utilities
Healthcare
Media and Entertainment
Banking and Financial Services
Telecommunication
Information Technology
Others
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Body Worn Sensors Market Regional Analysis/Insights
The body worn sensors market is analysed and market size insights and trends are provided by country, sensor types, type, application, care setting, device placement and end user as referenced above.
The countries covered in the body worn sensors market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the body worn sensors market because of the early adoption of new technology. Furthermore, the continued dominance of smart watches, fitness bands, and wearable medical monitoring devices will drive the growth of the body worn sensors market during the forecast period.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 due to the expansion of healthcare infrastructure. Furthermore, rising per capita income is expected to drive the growth of the body worn sensors market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Body Worn Sensors Market Share Analysis
The body worn sensors market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to body worn sensors market.
Some of the major players operating in the body worn sensors market are:
Siemens (Germany)
General Electric (U.S.)
Sensirion AG (Switzerland)
Heimann Sensor GmbH (Germany)
Dexter Research Center (U.S.)
CARRE TECHNOLOGIES INC (Canada)
Isansys Ltd. (India)
Maxim Integrated (U.S.)
MBIENTLAB INC (U.S.)
Adidas AG (Germany)
Analog Devices, Inc. (U.S.)
TDK Corporation (Japan)
ZOLL Medical Corporation (U.S.)
Allegro MicroSystems, Inc. (U.S.)
Koninklijke Philips N.V. (Netherlands)
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Key Pointers Covered in the Body Worn Sensors Market Industry Trends and Forecast to 2030
Market Size
Market New Sales Volumes
Market Replacement Sales Volumes
Market By Brands
Market Procedure Volumes
Market Product Price Analysis
Market Regulatory Framework and Changes
Market Shares in Different Regions
Recent Developments for Market Competitors
Market Upcoming Applications
Market Innovators Study
FREQUENTLY ASKED QUESTIONS
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Which factors are poised to restrict the market growth?
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What are the major countries covered in the Market?
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