Rockville , Jan. 11, 2024 (GLOBE NEWSWIRE) -- The global wearable biosensors market is estimated to reach US$31,648.8 million in 2024. The market is projected to grow at an encouraging clip with a 7.7% CAGR through 2034. The market is expected to register a valuation of US$66,235.1 million by 2034.
As the number of patients getting admitted to hospitals increases, there is a greater need to monitor people's health. Wearable biosensors are proving to be a necessary device as the need to monitor blood glucose level, heart rate, and skin temperature grows. By monitoring the vital signs of a patient, the device allows medical professionals to monitor health better and act quicker in case of emergencies.
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People are seeking medical help, which leads to the use of wearable biosensors for a myriad of reasons. Complications with infant health and the threat of chronic diseases are two of the afflictions necessitating the use of wearable biosensors. The increasing geriatric population of the world is another reason for the growth of the wearable biosensor market.
One of the significant benefits of wearable biosensors is the remote monitoring feature they provide. Hospitals have problems with over-admittance, and doctors cannot continuously monitor patients. Thus, the help of wearable biosensors is sought to an increasing degree for monitoring patients at home. In a study published in 2023, it was found that wearable biosensors can detect signs of aggression in people who have autism.
“Other than the healthcare industry, there are several sectors where wearable biosensors are being used; this includes food & beverage and environmental. Moreover, advancement in medical wearable biosensors to set new horizons for accuracy may present opportunities for industry experts.” says a Fact.MR analyst.
| Report Attribute | Details |
| Value Projection (2034) | US$ 66,235.1 million |
| Growth Rate (2024-2034) | 7.7% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 64 Tables |
| No. of Figures | 192 Figures |
Key Takeaways from the Market Study
- The global wearable biosensors market is expected to expand at a CAGR of 7.7% through 2034.
- The East Asia wearable biosensors market is projected to grow at a rate of 7.9% from 2024 to 2034.
- The wearable biosensors industry is expected to register a CAGR of 8.5% in Japan over the forecast period.
- The wearable biosensors industry in Canada is expected to rise at a CAGR of 8.4% through 2034.
- Based on product, wearable electrochemical biosensors lead the market, with an expected market share of 23.7% in 2024.
Key Companies Profiled in This Report:
- Molex LLC
- TDK Corporation
- VitalConnect
- Huawei Technologies
- Robert Bosch GmbH
- Panasonic Corporation
- TE Connectivity
- Texas Instruments Incorporated
- Infineon Technologies AG
- Zimmer & Peacock AS
- Withings SA
- Broadcom
- Koninklijke Philips N.V.
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Country-wise Insights
In the realm of wearable biosensors, the prevailing type is the wearable electrochemical biosensor. Projections for 2024 indicate that these sensors will constitute 23.7% of the market share among products. Following closely behind are other variants of wearable biosensors—such as optical, piezoelectric, and thermal—which are anticipated to capture around 21.8% of the market by 2024.
In a surprising turn, miscellaneous applications take the lead in the usage segment. For 2024, the utilization of wearable biosensors beyond traditional realms like healthcare, medical, environmental monitoring, military & defense, and food and agriculture is projected to command a significant 25.4% share. Healthcare and medical purposes trail as the second most prominent segment, expected to occupy around 22.7% of the market in 2024.
Explore More Related Studies Published by Fact.MR Research:
Wearable AI Market: The global wearable AI market is valued at US$ 20 billion in 2023 and is anticipated to jump to US$ 230 billion by 2033, surging ahead at a CAGR of 27.6% during the forecast period (2023 to 2033).
Transportation Sensors Market: The global market for transportation sensors is valued at USD 608.99 Million in 2022. The market is anticipated to grow with a CAGR of 7.5% in the forecast period owing to which it is expected to cross the valuation of USD 1255.15 Million by end of 2032.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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