Global Health Sensors (Wearable, Ingestible/Implantable) Market 2018-2025: Market is Expected to Reach USD 83.2 Billion
DUBLIN, Aug. 10, 2018 /PRNewswire/ --
The "Health Sensors Market Size, Share & Trends Analysis Report By Product (Wearable, Ingestible/Implantable), By Application (Wellness Monitoring, Sensor Therapeutics), By Region, And Segment Forecasts, 2018 - 2025" report has been added to ResearchAndMarkets.com's offering.
The global health sensors market size is expected to reach USD 83.2 billion by 2025, expanding at a CAGR of 17.0% during the forecast period. Rising geriatric population and burden of chronic diseases are the key factors positively affecting market growth.
Reduced physical activities and increased consumption of unhealthy food disturb the hormonal and cholesterol levels. Moreover, this also leads to a rise in cardiac conditions. According to the WHO, in 2012, approximately 17.5 million people in the world died because of cardiovascular diseases. Thus, demand for better monitoring and management of these disease is increasing. These sensors, are anticipated to help in the management of chronic diseases, as they can monitor, record, and transmit vital signs of the patient. These sensors can also help in therapeutics, measuring the amount of drug actually absorbed in the body.
Growing geriatric population worldwide is expected to drive the market growth during the forecast period. According to the National Institutes of Health (NIH), in 2010, the number of people aged 65 or more was around 524 million. It constituted about 8.0% of total global population and is estimated to triple and reach 1.5 billion by 2050, accounting for around 16.0% of global population. Health sensors help reduce healthcare spending by remotely monitoring disease progression and sending out medical alerts in an emergency situation.
Hospitals and other settings charge high for diagnosis and testing. To avoid this, people use home-based medical sensors such as glucose monitoring and pregnancy kits. These home-based medical sensors offer faster results. Home-based testing kits are also cost-effective and easy to operate.
Further key findings from the report suggest:
- The ingestible/implantable sensors segment is projected to ascend at a CAGR of 17.5% over the forecast period
- Chronic illness and at-risk monitoring application dominated with a global market share of over 18.0% in 2016
- The U.S. health sensors market is anticipated to exceed USD 22.0 billion by 2025
- Asian countries, especially India and China are expected to observe a remarkable growth in next five years
- The health sensors market is oligopolistic and competitive in nature due to the launch of innovative products
Health Sensors Market Dynamics
Market driver analysis
- Rising prevalence of chronic diseases
- Growing geriatric population
- Growing demand for home healthcare monitoring
- Increasing use of medical sensors in laboratories
Market restraint analysis
- High cost of medical sensors
- Risk of data breach.
Key Topics Covered:
Chapter 1 Executive Summary
Chapter 2 Research Methodology & Scope
Chapter 3 Health Sensors Industry Outlook
Chapter 4 Health Sensors Market: Application Estimates & Trend Analysis
Chapter 5 Health Sensors Market: Product Estimates & Trend Analysis
Chapter 6 Health Sensors Market : Regional Estimates & Trend Analysis, by Products and Application
Chapter 7 Competitive Landscape
- Analog Devices Inc.
- Avago Technologies Ltd
- Danaher Corporation
- GE Healthcare
- Honeywell International Inc.
- Medtronic Plc.
- Smiths Medical Inc.
- Koninklijke Philips
- Proteus Digital Health
- Sensirion AG
- Stryker Corporation
- Abbott Laboratories
- Roche
- Hologic
- Varian Medical System
For more information about this report visit https://www.researchandmarkets.com/research/dg63bj/global_health?w=5
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