Market Trends of Wearable Temperature Sensors Industry
Healthcare is Expected to Register the Fastest Growth Among All End-user Verticals
- Wearable temperature sensors are significantly used in the healthcare sector to monitor body temperature in real time. Examples include fever detection, continuous monitoring of patients, and tracking temperature variations for individuals with certain medical conditions.
- They enable the continuous monitoring of an individual's body temperature, aiding in the early detection of abnormal variations. This real-time data is crucial for timely intervention, especially in infections or chronic conditions. Wearable sensors also provide a non-invasive and convenient way to track health parameters, enhancing patient comfort and compliance with monitoring protocols.
- These sensors are emerging as a new technology for remote health monitoring to detect physiological and biochemical markers by estimating vital signs such as respiratory rate, blood oxygen level, and body temperature; wearable temperature sensors offer immense potential for the non-invasive and early diagnosis of multiple diseases, including COVID-19.
- The growing geriatric population and the increasing number of advantages of wearable devices in healthcare are projected to accelerate the expansion of the market during the forecast period. According to the Population Reference Bureau, about 25% of the population is under 15 years of age, and 10% is over 65 years of age.
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Asia-Pacific is Expected to Register Significant Growth
- The major share of the Asia-Pacific region can be attributed to the growth in application areas of the healthcare sector. The escalating demand in the emerging economies of China, South Korea, and India is expected to greatly contribute to the regional demand for such wearable temperature sensors.
- The Asia-Pacific region is expected to witness significant growth during the forecast period. Major factors supporting growth are increasing investments in medical infrastructure, research and innovation centers, government programs, and policies favoring the healthcare equipment and devices markets.
- The Asia-Pacific region is anticipated to experience market share growth due to the increasing prevalence of chronic disorders and the rising awareness of medical sensors among individuals. The growth of the wearable temperature sensors market in these regions is attributed to the increased emphasis on the development of medical sensors in recent years, the enhancement of healthcare infrastructure, and the early detection of diseases.
- Given the region's aging population, there is always room for innovation in the field of medical devices and equipment, which provides opportunities for foreign companies to invest in the country. For instance, in July 2023, Boat announced the release of its smart ring with health and fitness tracking features. The ring has various health sensors, such as measuring the user's body temperature, heart rate tracking, sleep monitoring, female menstrual cycle mapping, etc.
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