New York, March 23, 2023 (GLOBE NEWSWIRE) -- The global consumer healthcare sensor market revenues reached US$ 49.1 billion in 2022. Over the next decade, global consumer healthcare sensor sales will rise at 6.7% CAGR. By the end of 2032, the worldwide Consumer Healthcare Sensor Market size is likely to reach a valuation of US$ 94 billion.
Image sensor segment dominates the global consumer healthcare sensor industry. This is due to high adoption of this sensor type in various applications across healthcare sector. The target segment will expand at a CAGR of 6.5% from 2023 to 2032.
High integration of consumer healthcare sensors across booming healthcare sector is driving the market. Consumer healthcare sensors are being used in various medical applications. This includes patient monitoring, fitness, and imaging.
Similarly, growing demand for specialized medical equipment such as medical wearables will propel demand. In recent years, shift towards homecare has generated high demand for medical wearables. As most of these wearables are made by using sensors, a rise in their production and sales will elevate demand.
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The market for consumer healthcare sensors has significantly expanded as a result of technological advancement. Further factors such as aging population and need for better imaging modalities will create opportunities for consumer healthcare sensor manufacturers.
Key Takeaways from Consumer Healthcare Sensor Market Report:
- Global sales of consumer healthcare sensors are set to rise at 6.7% CAGR through 2032.
- By sensor type, image sensor category will expand at 6.5% CAGR from 2022 to 2032.
- By application, patient monitoring segment is forecast to progress at 6.3% CAGR through 2032.
- The United States consumer healthcare sensor market will top a valuation of US$ 30.2 billion by 2032
- Consumer healthcare sensor demand in China is set to soar at 7.7% CAGR through 2032.
- The United Kingdom market size will reach US$ 4.5 billion by the end of 2032.
- Consumer healthcare sensor sales in Japan will surge at 6.1% CAGR over the next ten years.
“High penetration of wearable technology in healthcare will fuel consumer healthcare sensor demand. Besides this, advancements in sensing technology will bode well for thew market.” Says a Persistence Market Research analyst.
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Who is Winning?
3M Company, GE Measurement and Control solutions, Infineon Technologies AG, Ametek Inc, Koninklijke Philips N.V., TE Connectivity, NXP Semiconductors, Analog Devices Inc, TDK Corporation, and ON Semiconductor are few of the leading consumer healthcare sensor manufacturers.
Recent Developments:
- In October 2022, Oxehealth introduced a system of high-tech sensors to enhance safety. The Oxevision system uses a safe optical sensor to continuously monitor a patient's respiratory rate and pulse while alerting personnel to any activity or behavior that might endanger the patient's safety.
- In January 2023, Garmin introduced a new app called ECG App. Customers can now record a 30-second ECG using the ECG App. They can examine the findings right away on the watch or, at their discretion, later in the Garmin Connect smartphone app.
More Insights Available
Persistence Market Research, in its new offering, presents an unbiased analysis of the consumer healthcare sensor market, presenting historical market data (2017 to 2021) and forecast statistics for the period from 2023 to 2032.
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The study reveals extensive growth in the consumer healthcare sensor market based on sensor type (touch sensor, temperature sensor, motion sensor, image sensor, and blood pressure sensor) and application (patient monitoring, fitness and wellness, imaging, and handheld and homecare) across various regions.
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