The wearable health sensor market is evaluated at US$884.151 million for the year 2019 growing at a CAGR of 26.74% reaching the market size of US$4,645.160 million by the year 2026.
A wearable health sensor is a device that is worn by the consumer to monitor the various biomarkers of health. The growing prevalence of various chronic diseases such as diabetes, cardiovascular diseases, cancer, among many others, supplemented by a growing aging population around the world, is prompting an increased need for continuous health monitoring and hence is surging the demand for devices like wearable health sensors. Furthermore, the increasing miniaturization of health sensors is another major factor anticipated to augment the growth of the wearable health sensor market during the forecast period.
The recent outbreak of the novel coronavirus disease had a positive impact on the wearable health sensor market. The pandemic upsurged the demand for wearable health sensors as they were used in the detection of COVID-19. Various companies launched wearable health sensors to fight against COVID-19. For instance, in May 2020, Phillips launched a wearable biosensor named Philips Biosensor BX100, to help monitor the confirmed and suspected COVID-19 patients in the hospital. Hence, the COVID-19 pandemic increased the demand for wearable health sensors and consequently boosted the market growth.
Rising miniaturization of health sensors
The medical device industry is utilizing the advancements in technology and integrating it with the diseases and disorders of human beings and consequently providing viable solutions for the same. With the advancements in technology, health sensors have been able to get miniaturized to an extent so that they can be wearable. Hence, various medical device companies have been taking the advantage of miniaturization and are launching new products in the market. For instance, in July 2021, Rockley Photonics launched a wearable digital health sensor system that monitors various biomarkers in the human body, such as blood pressure, glucose trends, core body temperature, alcohol level, body hydration, among other biomarkers. In February 2019, VivaLNK announced the launch of a medical wearable sensor equipped with an Internet of Health Things (IoHT) data cloud. The device informs the wearer about its health deterioration through its analysis. The launch of such products is anticipated to further increase in the coming years with the continuous miniaturization of health sensors. This is anticipated to propel the growth of the wearable health sensor market during the forecast period.
Prominent/major key market players in the wearable health sensor market include Analog Devices Inc., Infineon Technologies AG, and Texas Instruments Incorporated, among others. The players in the wearable health sensor market are implementing various growth strategies to gain a competitive advantage over its competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the wearable health sensor market.
|Market size value in 2019||US$884.151 million|
|Market size value in 2026||US$4,645.160 million|
|Growth Rate||CAGR of 26.74% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||End-User Industry, Type, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||NXP Semiconductors, Analog Devices Inc., Infineon Technologies AG, Samsung, Sony Corporation, TE Connectivity, TDK Corporation, mCube Inc., Arm Limited, Texas Instruments Incorporated|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the wearable health sensor market size by 2026?
A1. The global wearable health sensor market is expected to reach a market size of US$4,645.160 million by 2026.
Q2. What is the size of global wearable health sensor market?
A2. Wearable Health Sensor Market was valued at US$884.151 million in 2019.
Q3. What are the growth prospects for wearable health sensor market?
A3. The wearable health sensor market is expected to grow at a CAGR of 26.74% during the forecast period.
Q4. What factors are anticipated to drive the wearable health sensor market growth?
A4. A rising global aging population and growing cases of chronic diseases such as cancer, diabetes, and cardiovascular disease across the globe are some of the key drivers of the global wearable health sensor market.
Q5. Who are the major players in the wearable health sensor market?
A5. Prominent/major key market players in the Global Wearable Health Sensors Market include Panasonic Corporation, NXP Semiconductors, Analog Devices, Infineon Technologies, and Samsung among others.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Wearable Health Sensor Market Analysis, by Type
5.2. Position Sensor
5.3. Temperature Sensor
5.4. Pressure Sensor
6. Wearable Health Sensor Market Analysis, by End-User Industry
6.4. Consumer Electronics
7. Wearable Health Sensor Market Analysis, by Geography
7.2. North America
7.3. South America
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.4. South Korea
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. NXP Semiconductors
9.2. Analog Devices Inc.
9.3. Infineon Technologies AG
9.5. Sony Corporation
9.6. TE Connectivity
9.7. TDK Corporation
9.8. mCube Inc.
9.9. Arm Limited
9.10. Texas Instruments Incorporated
Analog Devices Inc.
Infineon Technologies AG
Texas Instruments Incorporated
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