Market Trends of Optical Pulse Sensor Industry
This section covers the major market trends shaping the Optical Pulse Sensor Market according to our research experts:
Smart Band is Expected to Hold the Significant Market Share
- Smart bands are portable devices used to monitor a person's real-time fitness, heart rate, sleep statistics, and calorie control, as well as provide other health insights. These bands are equipped with miniaturized electronic devices, such as microchips and sensors, which gather data, record activities, and offer and transform information on a real-time basis.
- Manufacturers are developing smart bands using advanced actuators and sensors to provide a more natural sense of touch to human-computer interaction. With a rising demand for smart wearable fitness devices, different vendors across the supply chain are making strategic partnerships to support and boost the development of wearable device technology.
- There has been an increasing demand for portable devices with greater energy savings and miniaturization. Among wearables, such as smart bands, heart rate monitoring capability became mainstream, with continuous additions of new functions. However, the limited battery capacity makes it necessary to reduce power consumption as much as possible, in order to prolong operating time.
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North America is Expected to Hold the Largest Market Share
- According to the Centers for Disease Control and Prevention (CDC), approximately 70 million people in the United States have high blood pressure. Furthermore, nearly 600,000 deaths occur every year in the United States, due to various heart diseases. The increasing need to reduce hospital costs and the launch of new products are expected to drive the demand for activity monitors.
- The demand for diagnostic wearable medical devices is expected to be augmented by factors, such as an increase in the incidences of chronic diseases among people of all ages, prevalence of heart and respiratory disorders, and a rise in premature births. The increasing need for continuous diagnosis and growing awareness among the general population may drive the market. New advances in technology, approval for new products by the US FDA, and subsequent product launches are driving the optical pulse sensors market.
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