Market Size of Body Sensor Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 10.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Body Sensor Market Analysis
The body sensor market is expected to register a CAGR of 10.0% during the forecast period.
During the COVID-19 pandemic, the studied market was significantly impacted. The demand for health monitoring became crucial due to interlinking life-threatening conditions of the COVID-19 infection. For instance, according to the article published by ScienceDirect in December 2021, to record and process health data remotely, sensors have been successfully integrated with smartphones, smart wearables, and the internet of medical things (IoMT). During the COVID-19 epidemic, sensors continued to revolutionize healthcare systems globally and provided the new potential for virtual treatment. This argues for a considerable adoption of body sensors during the pandemic. Therefore, the COVID-19 pandemic has significantly impacted the studied market in its preliminary phase. However, as the pandemic has subsided currently, the market is expected to have stable growth during the forecast period of the study.
Factors such as a rise in the geriatric population, increasing disposable income, and increasing research and development in health technology are expected to fuel the market growth over the forecast period.
The increase in the geriatric population is expected to be a major contributor to the studied market. According to the data published by UN in 2022, it is estimated that the population aged 65 years and above is 10% in 2022, and it is expected to rise to 16% by 2050. This target population is more prone to getting age-related chronic and life-threatening diseases. The increase in the number of geriatrics demands better monitoring facilities in the hospital operating rooms and outside. Thereby driving the demand for body sensors.
Furthermore, as per the article published by PubMed in July 2022, the use of sensors evolved in two different ways: by externally attaching them and by implanting them as an implantable sensors. Where the sensors follow their operating principles for a certain application, each method has its benefits. As per the source mentioned above, various wearable sensors have been utilized for personalized healthcare, demonstrating their effectiveness in monitoring various diseases and the continuous collection of data for a considerable amount of time. Thus, the development of body sensors for healthcare purposes is fueling market growth.
Moreover, continuous product innovation and launches are contributing to market growth. For instance, in February 2022, Senseonics Holdings, Inc., a medical technology company focused on the development and manufacturing of long-term, implantable continuous glucose monitoring (CGM) systems for people with diabetes, received the approval of the next-generation Eversense E3 CGM System by the FDA. The Eversense E3, including proprietary sacrificial boronic acid (SBA) technology, can extend longevity to 6 months. Thus, the developments in the market are anticipated to boost market growth over the analysis period.
Therefore, due to the factors mentioned above such as the continuous product innovation and launches, the development of body sensors for healthcare purposes, and the rising geriatric population, the studied market is anticipated to witness growth during the forecast period. However, the lack of awareness about the products and stringent regulatory guidelines for product approval are predicted to restrain the growth of the market.
Body Sensor Industry Segmentation
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. The Body Sensor Market is segmented by Type (Blood Pressure Sensor, Respiration Sensor, Temperature Sensor, ECG Sensor and Others), Placement Type (Wearable and Implantable), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Type | |
| Blood Pressure Sensor | |
| Respiration Sensor | |
| Temperature Sensor | |
| ECG Sensor | |
| Others |
| By Placement Type | |
| Wearable | |
| Implantable |
| Geography | ||||||||
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Body Sensor Market Size Summary
The body sensor market is poised for significant growth, driven by factors such as the increasing geriatric population, rising disposable incomes, and advancements in health technology research and development. The market experienced a notable impact during the COVID-19 pandemic, as the demand for health monitoring surged, leading to the integration of sensors with smartphones, smart wearables, and the Internet of Medical Things (IoMT). This integration facilitated remote health data recording and processing, revolutionizing healthcare systems and paving the way for virtual treatment solutions. As the pandemic's effects have waned, the market is expected to stabilize and continue its upward trajectory. The development of body sensors for healthcare purposes, including both external and implantable sensors, is further propelling market growth, with continuous product innovation and regulatory approvals playing a crucial role in expanding market offerings.
The wearable sensors segment, which includes devices embedded in clothing or attached to the body, is anticipated to experience robust growth due to its ability to monitor health and provide therapeutically useful information. The Internet of Things (IoT) concept enhances medical support at home through connected monitoring systems, utilizing various sensors for comprehensive health tracking. The segment's growth is supported by frequent developments, such as the launch of advanced wearable devices with features like blood pressure and ECG monitoring. North America emerges as a significant contributor to the market, driven by a substantial geriatric population and a high prevalence of diabetes, alongside a strong focus on product innovation and patent acquisitions by key market players. The market remains fragmented, with major players like Abbott Laboratories, Apple Inc., and Garmin Ltd. actively engaging in product development and strategic mergers to strengthen their market presence.
Body Sensor Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Research and Development Activities in Health Technology
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1.2.2 Rising Disposable Incomes
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1.2.3 Increasing Geriatric Population
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1.3 Market Restraints
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1.3.1 Lack of Awareness
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1.3.2 Stringent Regulatory Guidelines
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Type
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2.1.1 Blood Pressure Sensor
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2.1.2 Respiration Sensor
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2.1.3 Temperature Sensor
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2.1.4 ECG Sensor
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2.1.5 Others
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2.2 By Placement Type
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2.2.1 Wearable
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2.2.2 Implantable
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Body Sensor Market Size FAQs
What is the current Body Sensor Market size?
The Body Sensor Market is projected to register a CAGR of 10% during the forecast period (2024-2029)
Who are the key players in Body Sensor Market?
Abbott Laboratories, Apple Inc., Fitbit, Inc., Texas Instruments and Koninklijke Philips N.V. are the major companies operating in the Body Sensor Market.
