Selbyville, Delaware, Global PPG Biosensors Market size to reach USD 721.73 million by 2027 and is valued approximately USD 331 million in 2020 and is anticipated to grow with a healthy growth rate of more than 11.78% over the forecast period 2021-2027.
Photoplethysmography (PPG) Biosensors refer to devices such as wearables watches and other fitness trackers that use an easy optical technique to detect volumetric changes in blood in peripheral circulation using sensor technology.
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These devices help in early recognition and analysis of illness including cardiovascular diseases. They became important in the COVID-19 pandemic for monitoring oxygen rate of people. These devices provide real-time data and analysis, and thus are gaining traction among millennials too. Above mentioned advantages, coupled with the ease and flexibility of use provided by these biosensors, are driving the PPG Biosensors market. The smart wearable market is growing rapidly and is bound to propel the growth of PPG biosensors market too.
According to Statista, the number of connected wearable devices has doubled to 722 million in 2019, increasing from 325 million in 2016. Many companies are innovating in the wearable HealthTech sector. Nemaura Medical, a medical technology company, entered into multiple verbal non-binding agreements in 2021 for its PPG sensor using product sugarBEAT(R), which continuously monitors sugar. Such collaborations in the field will help in the growth of PPG biosensors. The high cost associated with the PPG biosensors as compared to ECG sensors may act as a restraint for its growth. However, increasing innovation, research and development of PPG technologies acts as an opportunity for PPG Biosensors Market in subsequent decade.
Major market player included in this report are:
- Maxim Integrated
- Murata Manufacturing Co., Ltd.
- Silicon Laboratories
- ams AG
- LifeQ Inc.
Key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World are analysed to provide a holistic picture of PPG Biosensors Market. Due to higher investments in PPG biosensors technology as well as higher per capita income, North America emerged as a significant region across the world in terms of market share. Whereas, Asia-Pacific is expected to exhibit highest growth rate for the forecast period 2021-2027 owing to the growing smart wearable market. Rising disposable income and growing awareness for health and hygiene will also boost growth in this region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
- Pulse oximeters
- Smart watches
- Smart Wrist bands
- Other Products
- Heart rate monitoring
- Blood-oxygen saturation
- Blood pressure
- Other applications
Global PPG Biosensors Market: regional analysis
Geographically, this report is segmented into several key countries, with market size, growth rate, import and export of PPG Biosensors market in these countries, which covering North America, U.S., Canada, Europe, UK, Germany, France, Spain, Italy, ROE, Asia Pacific, China, India, Japan, Australia, South Korea, RoAPAC, Latin America, Brazil, Mexico and Rest of the World.
Furthermore, years considered for the study are as follows:
- Historical year – 2018, 2019
- Base year – 2020
- Forecast period – 2021 to 2027.
Some of the major questions addressed in the report are:
- What are the crucial factors driving the market?
- What shall be the expected growth acceleration and rate of the market during the forecasted timeframe?
- What was the market size value of the PPG Biosensors in 2020?
- What shall be the PPG Biosensors Market size by 2027?
- Which region shall account for the largest market share of the PPG Biosensors Industry?
- What are the market threats and opportunities considered by the vendors in the PPG Biosensors Market?
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