Market Size of Wearable Health Sensors Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 10.50 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Europe |
Market Concentration | High |
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?
Wearable Health Sensors Market Analysis
The Wearable Health Sensor Market is expected to grow at a CAGR of 10.5% over the forecast period. The miniaturization of physiological sensors, increasing growth toward advanced process sensors in smart gadgets, advancement in battery sizes, and increasing need for continuous monitoring in healthcare services are the key drivers making the wearable health sensors market grow lucratively. Wearable health sensors, such as accelerometers, gyroscopes, and other motion sensors, are expected to be incorporated into activity monitors, fitness devices, pedometers, golf and tennis swing analysis tools, and sports kinetics applications.
- Leveraging wireless connectivity, powerful application processing, and smartphone storage capabilities, wearable sensors are finding new use cases, such as remote patient monitoring, where the patient's motion data analysis can be sent directly to the physician, which may further boost the market growth.
- Furthermore, In August 2022, engineers from the Massachusetts Institute of Technology developed wearable wireless sensors without the Bluetooth module housed in them. It is a wearable sensor that transmits wirelessly without onboard chips or batteries. This project opens an avenue toward chip-free wireless sensors. The new sensor, called - 'e-skin', is an ultrathin semiconductor film of piezoelectric material which adheres to the skin, sensing the body's vibration. It also does not require any power source.
- Technological advances in health sensor devices can assist clinicians in identifying patients at high risk of disease, which is expected to drive market growth. For instance, in January 2021, Biosticker, a highly advanced on-body sensor that allows effortless monitoring of vital signs and actionable insights, was provided to clinicians from patients in hospitals or home care settings, creating a unique opportunity for the early detection of complications.
- The increased level of awareness concerning healthcare has created an emerging need for smart health sensor technologies and monitoring devices that can sense and provide users feedback about their health status for increased safety. Further, in February 2021, engineers at the University of California, San Diego, developed a soft, elastic skin patch that can be worn around the neck. It measures the wearer's glucose, lactate, alcohol, and caffeine levels while monitoring blood pressure and heart rate. Additionally, it analyzes several biochemical levels and cardiovascular signs in the human body.
- The key factors in the proliferation of wearable sensors in healthcare are the availability of low-cost MEMS technologies, low-power microcontrollers, and efficient and reliable telemetry modules. Furthermore, Honeywell offers the 26PC SMT (Surface Mount Technology) Series pressure sensor. This small, low-cost, high-value pressure sensing solution replaces the need of the healthcare professional to place a stethoscope under the pressure cuff, to hear the noise of the rushing blood.
- Machine learning and AI capabilities are taking healthcare professionals' skills to the next level, especially in the current healthcare industry. In support of this, IoT-compatible wearable sensors are also witnessing a decline in pricing, which leads to manufacturers offering wearable devices at a more affordable rate, thus encouraging various industries to adopt products catered to their systems and operations. Additionally, there has been a significant increase in the number of wearable devices sold over the past few years.
- Furthermore, as technical devices require continuous R&D for various features, industry players' ongoing technological advances are fueling the development of smartwatches. Amazfit Bip U Pro and BOAT Xplorer were launched in India in April 2021. PPG bio-tracking optical sensors in smartwatches continuously monitor heart rate.
- Further, the global population is driving a trend toward home healthcare. The COVID-19 pandemic accelerated the use of remote patient monitoring and continuous diagnostic devices, including medical wearables. Wearable sensors help monitor a person's health, as they constantly measure their blood pressure, glucose concentrations, heart rate, and other activities. Moreover, in February 2021, Health Canada approved Bactiguard's urinary catheter with temperature sensor for infection prevention through an Interim Order. This approval was driven by COVID-19, as Bactiguard's catheters tend to reduce the risk of secondary infections for critically ill patients.
Wearable Health Sensors Industry Segmentation
Sensors used for tracking and finding information related to fitness, health, location, etc., that are integrated in a wearable device or technology are called wearable sensors. These sensors are integrated into accessories, wearables, cloth, etc., using wireless devices that allow biological and physiological sensing to measure, monitor, and diagnose blood pressure, heart rate, and other metabolic activities. The studied market is segmented by Types, such as Pressure Sensors, Temperature Sensors, and Position Sensors, among different End-user Industries such as Healthcare, Consumer Electronics, and Sports/Fitness in various geographies.
The market sizes and forecasts are provided in terms of value (USD million) for all the above segments. The impact of COVID-19 on the market and impacted segments are also covered under the scope of the study. Further, the disruption of the factors affecting the market's expansion in the near future has been covered in the study regarding drivers and restraints.
By Type | |
Pressure Sensor | |
Temperature Sensor | |
Position Sensor | |
Other Types |
By End User Industry | |
Healthcare | |
Consumer Electronic | |
Sports/Fitness | |
Other End User Industries |
By Geography | |
Asia Pacific | |
Europe | |
Latin America | |
Middle East and Africa | |
North America |
Wearable Health Sensors Market Size Summary
The wearable health sensors market is experiencing significant growth, driven by advancements in sensor miniaturization, battery technology, and the increasing demand for continuous health monitoring. These sensors, including accelerometers and gyroscopes, are being integrated into various devices such as fitness trackers, sports analytics tools, and medical wearables. The market is further propelled by innovations like MIT's chip-free wireless sensors and UC San Diego's elastic skin patches, which enhance the capabilities of health monitoring devices. The proliferation of IoT-compatible sensors and the decline in their costs are making these technologies more accessible, encouraging widespread adoption across healthcare and consumer sectors. The COVID-19 pandemic has also accelerated the use of remote patient monitoring devices, highlighting the importance of wearable sensors in managing health conditions.
In Europe, the wearable health sensors market is witnessing robust growth due to the increasing adoption of smartphones and heightened consumer awareness about fitness. The region's market is characterized by the launch of innovative sensor technologies and the expansion of wireless communication capabilities, which have improved the functionality and integration of sensors into everyday devices. Companies are focusing on developing smart health monitoring solutions that cater to the aging population and health-conscious consumers. The market is moderately competitive, with major players investing in research and development to enhance their product offerings and maintain a competitive edge. Collaborations and acquisitions, such as Nitto Denko's acquisition of Bend Labs, are driving the development of next-generation sensor technologies, further fueling market expansion.
Wearable Health Sensors Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Assessment on Impact of COVID-19 on the market
-
1.3 Market Drivers
-
1.3.1 Increasing Need for Continuous Monitoring In Healthcare Services
-
1.3.2 Rising Growth toward Advanced Functions Sensors in Smart Gadgets
-
1.3.3 Miniaturization of Physiological Sensors
-
-
1.4 Market Restraints
-
1.4.1 Dearth of Common Standards and Interoperability Issues
-
-
1.5 Porter's Five Forces Analysis
-
1.5.1 Bargaining Power of Suppliers
-
1.5.2 Bargaining Power of Consumers
-
1.5.3 Threat of New Entrants
-
1.5.4 Threat of Substitute Products
-
1.5.5 Intensity of Competitive Rivalry
-
-
1.6 Value Chain Analysis
-
1.7 Technology Snapshot
-
-
2. MARKET SEGMENTATION
-
2.1 By Type
-
2.1.1 Pressure Sensor
-
2.1.2 Temperature Sensor
-
2.1.3 Position Sensor
-
2.1.4 Other Types
-
-
2.2 By End User Industry
-
2.2.1 Healthcare
-
2.2.2 Consumer Electronic
-
2.2.3 Sports/Fitness
-
2.2.4 Other End User Industries
-
-
2.3 By Geography
-
2.3.1 Asia Pacific
-
2.3.2 Europe
-
2.3.3 Latin America
-
2.3.4 Middle East and Africa
-
2.3.5 North America
-
-
Wearable Health Sensors Market Size FAQs
What is the current Wearable Health Sensors Market size?
The Wearable Health Sensors Market is projected to register a CAGR of 10.5% during the forecast period (2024-2029)
Who are the key players in Wearable Health Sensors Market?
TE Connectivity Ltd., Analog Devices Inc., TDK Corporation, Texas Instruments Incorporated and Maxim Integrated Products Inc. are the major companies operating in the Wearable Health Sensors Market.