Wearable Biosensors Market
Global Market Study on Wearable Biosensors: Application in Healthcare and Environment Monitoring to Remain Prominent
Wearable Biosensors Market Segmented By application such as home diagnostics, research labs, biodefense, environment monitoring and point of care with biosensors type it can be categorized into electrochemical, thermal, piezoelectric, accelerometer, and optical biosensors
According to Persistence Market Research’s industry analysis on wearable biosensors, global revenue is expected to reach US$ 12.3 Bn in 2021. The global market is estimated to register significant growth at 10.4% CAGR through 2031.
The wearable biosensors industry research indicates 8.7% y-o-y growth in 2021. Embedded sensors are set to enjoy high demand. On the other hand, demand for sensor patches is forecast to surge at 11.4% CAGR over the decade.
Find Out More about the Report Coverage
- TE Connectivity
- Texas Instruments Incorporated
- Infineon Technologies AG
- Panasonic Corporation
- Koninklijke Philips N.V.
- Huawei Technologies Co., Ltd.
- Robert Bosch GmbH
- Molex, LLC
- Zimmer & Peacock AS
- Withings SA
Key Insights Covered in Wearable Biosensors Industry Survey:
- Market Estimates and Forecast 2016-2031
- Key Drivers and Restraints Impacting Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Wearable Biosensor Demand and How to Navigate
- Recommendation on Key Winning Strategies
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Demand Analysis of Wearable Biosensors from 2016-2020 Compared to Market Outlook for 2021-2031
The global wearable biosensors market expanded at 6.5% CAGR from 2016 to 2020, and is estimated to be valued at US$ 12.3 Bn at present.
In today’s smart and interconnected world, the number of wearable devices is increasing at a high rate. Sensing components are been increasingly used in wearable devices to improve overall functional efficiency, convenience, and precautions.
Furthermore, use of various biosensors for monitoring fermentation systems, biocatalysis, and detecting biological materials such as enzymes, whole cells, and tissues is generating rapid demand for wearable biosensors in the wearable device industry.
The global market is anticipated to witness growth in revenue from US$ 11.3 Bn in 2020 to over US$ 33 Bn by 2031.
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How is Rising Need for Healthcare Monitoring Affecting Sales of Wearable Biosensors?
Demand for wearable biosensors is increasing in the healthcare industry as these provide continuous real-time physiological information via noninvasive measurement of biochemical markers in biofluids such as saliva, sweat, tears and interstitial fluids. Wearable biosensors offer a comprehensive view of the user’s health, stress, or performance at the molecular level.
Wearable biosensors reduce the burden on the healthcare system by facilitating self-monitoring to control and prevent diseases. Wearable biosensors enable remote monitoring to help patients avoid hospitalization, and this helps hospitals free up space for more responsive care.
Wearable biosensors are also used for monitoring the vital signs of patients, children, infants, athletes and individuals in remote areas that are far from health and medical services.
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What are the Key Expansion Strategies Followed by Wearable Biosensor Solution Providers?
Companies operating in the market are delivering advanced, flexible, and cost-effective wearable biosensors proactively, and are providing sensors to help end users maneuver through the ever-changing requirements.
With growing popularity of wearable biosensors, companies are helping consumers in choosing the right wearable biosensor as per their requirements. Companies have been working with different customers in order to understand their needs and further cater to customized demand, aimed at meeting frequently-changing industry-specific requirements.
Why is Demand for Wearable Biosensors Surging across the U.S.?
According to Persistence Market Research analysis, overall spending on wearable biosensors in the U.S. alone is likely to increase at the rate of 6.2% from 2021 to 2031, from a market value of over US$ 3 Bn in 2021.
The U.S. will emerge as the largest market for wearable biosensors in North America due to strong presence of key players and increasing adoption of new technological advancements such as nanotechnology. Increasing investments toward research & development of medical devices containing biosensors are being made.
Human performance augmentation is an emerging concept in the U.S. military, due to which, demand is increasing for wearable biosensors in military applications as well. Moreover, rising demand for wearable biosensors for monitoring food quality parameters is anticipated to contribute to market growth in the country.
How is China Contributing toward Wearable Biosensors Sales?
According to the Persistence Market Research analysis, the market for wearable biosensors in China is likely to accelerate at a CAGR of close to 10% from 2021 and 2031, from a market value of around US$ 1 Bn in 2021.
Rising diagnostic requirements in China’s healthcare industry due to high unmet medical needs for diseases such as diabetes, cancer, and other infectious diseases are likely to increase demand for wearable biosensors in the country.
Falling prices of components that are used to manufacture wearable sensors is making wearable device affordable in China. Also, demand for wearable biosensors is increasing in the food industry in China, which contributing toward market growth in the country.
Wearable biosensors are also used in vehicles in China for monitoring the vital signs of drivers, and stress and emotion levels. Biosensors for driver health monitoring have increasing opportunities as self-driving vehicles are gain adoption.
How are Sales of Wearable Biosensors Unfolding in India?
The market in India is anticipated to witness growth in revenue from around US$ 235 Mn in 2020 to US$ 1.6 Bn by 2031. Demand for wearable biosensors has increased rapidly in major economies of South Asia and Pacific, including India and Australia & New Zealand, which has created key potential growth opportunities for market participants.
Presence of a large population base and increasing incidents of different lifestyle diseases are main factors for market growth in India. Also, demand for wearable biosensors is increasing for environmental monitoring, as these sensors are used for monitoring environmental pollutants.
Thus, demand for wearable biosensor solutions is projected to show major growth in the Indian market due to rising healthcare expenditure in the country.
Why are Sensor Patches Witnessing Huge Popularity?
The market is segmented into embedded sensors and sensor patches. Demand for sensor patches is estimated to increase at a CAGR of 11.4% during the forecast period.
The segment is expected to grow at a substantial rate over the coming years as these devices help people monitor cardiovascular signals and multiple biochemical levels at the same time. This is the main factor that will fuel demand for sensor patches over the coming years.
Also, high demand for continuous health monitoring due to increasing diseases is also flourishing the sales of sensor patches.
What are the Sales Prospects of Wearable Electrochemical Biosensors?
In terms of product type, the market is segmented into wearable electrochemical biosensors, wearable optical biosensors, wearable piezoelectric biosensors, wearable thermal biosensors, and others. The wearable electrochemical biosensors segment is dominating the market with a share of 37.3% in 2021, while also expected to create an incremental opportunity of US$ 5.9 Bn through 2031.
Wearable electrochemical biosensors are mostly used in environmental monitoring and quality control of food. Wearable electrochemical biosensors provide accurate sensitivity and faster response, and can be easily integrated into labs-on-chips to obtain better point-of-care analytical platforms.
Advanced features of wearable electrochemical biosensors such as miniaturization, ease of use, and broad detection limit with restricted volume of analyte are transforming overall customer preference.
Why Does the Healthcare & Medical Sector Hold a Major Market Share in Wearable Biosensors?
The healthcare & medical segment is expected to hold a significantly share in the market, and is poised to increase at a considerable CAGR of 13.5% over the next ten years.
Segment growth is attributed to increasing developments in the healthcare sector, high adoption of new diagnostic methods, and convenience in terms of using home-based medical devices. Demand for wearable biosensors in the healthcare & medical sector is thus increasing rapidly.
Increasing demand for inexpensive and reliable sensors for regular monitoring of patients at home and introduction of new products that are capable of delivering results with better specificity and sensitivity are estimated to boost usage of wearable biosensors over the coming years.
What Has Been the Impact of COVID-19 on Wearable Biosensor Demand?
The COVID-19 pandemic forced the healthcare industry to focus on digital infrastructure for remote patient monitoring. As viral tests and vaccines are slowing emerging, there is the need for more robust disease detection and monitoring of population health, which is aided by wearable biosensors.
Wearable biosensors are used for continuous monitoring and early detection of asymptomatic and pre-symptomatic cases of COVID-19. These biosensors report more complex metrics such as recovery, stress, activity, and sleep, which are typically calculated using a combination of cardiac and accelerometer-derived metrics.
Wearable devices with biosensors notify users of possible infection before they develop clinical symptoms, through the development of an early detection algorithm.
According to Persistence Market Research’s study, demand for wearable biosensors is estimated to rise from 6% to 9% from 2019 to 2021.
Companies providing wearable biosensors are focusing on introducing new and innovative products and entering into strategic partnerships, and acquisition of other vendors for enhancing product portfolios while addressing the demand of an expanding customer pool. Introduction of new products and strategic partnerships are key strategies in this landscape.
Wearable biosensor providers are also focusing on entering into partnerships with technology providers to target new innovations within the market. This strategy helps companies broaden their geographic reach with additional service portfolios.
Wearable Biosensors Industry Report Scope
Historical Data Available for
US$ Million for Value
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Customization & Pricing
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Categorization of Wearable Biosensors Industry Research
- Sensor Patches
- Embedded Sensors
- Wearable Electrochemical Biosensors
- Wearable Optical Biosensors
- Wearable Piezoelectric Biosensors
- Wearable Thermal Biosensors
- Healthcare & Medical
- Environmental Monitoring
- Military & Defense
- Food & Agriculture
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