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Wearable Biosensors Market Segmented By Products - Wearable Electrochemical Biosensors | Wearable Optical Biosensors | Wearable Piezoelectric Biosensors | Wearable Thermal Biosensors in Sensor Patches and Embedded Sensors types
The wearable biosensors market is estimated to reach US$ 29,648.8 Mn in 2023 and is projected to grow to US$ 65,400.2 Mn by 2033. The market for wearable biosensors is predicted to grow at a CAGR of 8.2% from 2023 to 2033.
A wearable biosensor is an analytical machine that is used to monitor a person's vital signs. It is made up of three major components like bioreactor system, a transducer and an output device. Biosensors are widely used to monitor, track, and communicate physiological data in order to help doctors in tracking the progress of the patients.
Increasing adoption of point-of-care testing regime coupled with the increasing geriatric populations is expected to support the growth of the wearable biosensors market during the forecast period of 2023-2033.
Wearable biosensors are gaining popularity due to their ability to provide continuous, real-time physiological data via dynamic, non - invasive analyses of biochemical markers in bio fluids such as sweat, tears, saliva, and interstitial fluid. Such factors are providing lucrative environment for the adoption of wearable biosensors systems in the coming future.
The market for wearable biosensors was valued at US$ 27,811.3 Mn in 2022. In terms of the regional market landscape, the market in North America held a leading market share of 27.3% in the global landscape in 2022 and is expected to retain its leading position throughout the forecast period. Meanwhile, demand for wearable biosensors in the Europe region will hold around 23.3% of the market in 2022.
| Attributes | Key Insights |
|---|---|
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Wearable Biosensors Market Size (2023) |
US$ 29,648.8 Mn |
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Projected Market Value (2033) |
US$ 65,400.2 Mn |
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Global Market Growth Rate (2023-2033) |
8.2% |
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Sensor Patches Segment Market Share (2022) |
56.8% |
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India Market Growth Rate (2022) |
9.7% |
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Wearable Biosensors for Healthcare & Medical Segment Market Share (2022) |
28.7% |
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“Lack of The Technological Maturity Along with The High Cost”
The high cost of buying and maintaining wearable sensors, as well as their limited monitoring features, are some of the major challenges to the growth of global wearable biosensor market. Furthermore, a lack of technological competence is impeding the global wearable sensors market's growth.
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This market growth can be attributed to the factors such as increasing elderly population, growing incidences of chronic diseases along with the rising demand for advanced medical devices to facilitate the in-depth analysis of the psychological data while treatment or surgeries and so on. Additionally, the introduction of the miniaturized diagnostic kits, smartwatches & fitness bands are some of the key factors exacerbating the adoption of the wearable biosensors in U.S. region.
Due to these factors, U.S. region is analyzed to dominate the global wearable biosensors market with the share of 19.7% in 2022.
“Increasing Penetration of the Smartwatches, Fitness Bands and Other Such Tracking Devices”
Increased spending in the healthcare domain along with the rising awareness among the common masses about the latest & advanced healthcare devices like fitness bands, smart watches are some of the significant factors that are positively impacting the adoption of the wearable biosensors.
Furthermore, increased spending in the research & development of the advanced healthcare devices such as smart wheelchairs require the indiscriminate use of such sensors.
Due to these factors the wearable biosensors market is estimated to grow at a CAGR of 9.7% over the forecast period in India.
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“Increased Preferences for Personalized Medication Due to The Rising Awareness Among the Common Masses in The European region”
Germany is one of the most economically significant country in Europe which holds the market share of 10.2% in the European wearable biosensors market. Growing emphasis to raise awareness among diabetes patients & the patients suffering from other chronic devices about their real-time health telematics, introduction of the point-of-care test kits are the major factors driving the market growth in the region.
Additionally, rising preferences for the personalized medication is providing lucrative environment for the further expansion of the wearable biosensors market. The share of Europe in the global wearable biosensors market is 23.3%.
Why Sensor Patches Segment by Type Have the Larger Market Share in The Wearable Biosensors Market?
Sensor patches segment are analyzed to dominate the wearable biosensors market with the share of 56.8% owing to the factors such as increasing demand for the adoption of temperature sensors along with the rise in the use of pressure sensors and so on.
Sensor patches are used to detect vital signs from sick people through the use of wearable sensors. Sensor patches are physically attached to people undergoing examination or care and can measure key vitals & variables. Heat, blood pressure, weight, heart rate, and other data are collected by these smart patches.
Why Wearable Biosensors for Healthcare & Medical Applications Have the Largest Market Share in 2022?
Based on the applications the share of wearable biosensors for wearable biosensors for healthcare & medical segment hold the largest share of 28.7% in 2022, owing to the factors such as growing integration of the advanced healthcare devices with the sensors for tracing the health condition & the level of recovery among the patients and so on.
Additionally, the widespread use of smart bands & fitness tracking devices to get the telematics data such as heart rate, blood pressure & oxygen and so on are the key factors ensuring the increasing utilization of wearable sensors for healthcare & medical applications.
Major wearable biosensors companies are collaborating to accelerate the technological advancements in the development and adoption of the wearable biosensors systems.
Recent developments related to key players providing wearable biosensors market solutions have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.
| Attribute | Details |
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Forecast Period |
2023-2033 |
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Historical Data Available for |
2018-2022 |
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Market Analysis |
US$ Mn for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
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In 2022, the market value of wearable biosensors was US$ 27,811.3 Mn.
The global wearable biosensors market is estimated to advance at an 8.2% CAGR through 2033.
The market for wearable biosensors is forecasted to climb to US$ 65,400.2 Mn by 2033 end.
Demand for wearable biosensors market in India is projected to rise at a CAGR of 9.7% over the forecast period.
In 2022, the North America wearable biosensors market held a dominant market share of 27.3%.
