PPG Biosensors Market Region Is Expected To Witness A Considerable Growth Rate Of 12.4% Over The Forecast Period
PPG Biosensors Industry Overview
The global PPG biosensors market size was valued at USD 344.0 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 12.1% from 2021 to 2028. The use of PPG technology as an alternative heart rate monitoring strategy has increased rapidly, primarily owing to its ease of use, wearing comfort for its consumers, and cost-effectiveness. PPG is more flexible that can be used in a wider range of applications, such as watches, rings, patches, and earbuds.
Wearable wellness tracking technologies, such as smartwatches and fitness trackers, have intrigued the attention of consumers in recent years. Smart wearables are integrated with PPG biosensors that are used to measure heart rate, blood oxygen saturation, and blood pressure. For instance, Valencell’s PerformTek PPG biosensor technology is the only continuous heart rate sensor technology proven accurate during virtually any exercise and in virtually any environment.
Gather more insights about the market drivers, restraints and growth of the Global PPG Biosensors market
The COVID-19 pandemic has highlighted the importance of harnessing and leveraging digital technology for remote patient tracking. We see a need for more robust disease identification and control of patient and public wellbeing, which might be assisted by wearable devices, as existing viral testing and vaccines are slow to develop. COVID-19, like other viral illnesses, is associated with several physiological changes that can be tracked with wearable biosensors. Numerous cardiac rhythm indicators, such as Heart Rate (HR), Heart Rate Variability (HRV), Blood-volume Saturation, and Respiration Rate (RR), might serve as possible markers of COVID-19 infection and are already measured by smart wearables that use PPG technology. Companies are developing innovative technologies to facilitate healthcare staff in reducing transmission risks while still increasing clinician and patient safety. For instance, in May 2019, Masimo received FDA clearance for its Tetherless Radius PPG biosensors that aid the placement of point-of-care monitors outside a patient’s room safeguarding constant monitoring from a distance.
The increasing prevalence of cardiovascular disorders is majorly expected to propel the growth of the market for PPG biosensors over the estimated study period. For instance, according to the American Heart Association, Inc., at least 48.0% of U.S. adults have some form of cardiovascular disease, and by 2035, more than 130 million adults, or 45.1% of the U.S. population is estimated to have some CVD. Thereby, the association of this technique with advances in technology seems to proportionate the detection of cardiopathies rapidly, enhance medical treatment with remote control and surveillance of the patient in a healthcare setting, and minimize the number of deaths caused by cardiovascular diseases.
PPG is a non-invasive, inexpensive technique as compared to the ECG biosensors and also it can be easily incorporated on several sites such as a finger, toe, ear, wrist, chest, and head for measuring the signal. The non-invasive PPG technique for measuring SpO2 and HR is widely used in personal handheld devices and clinical pulse oximetry due to its simplicity and ability to perform continuous readings. It is considered a compact, low-cost device with a basic application that is also non-invasive and applicable in a variety of settings. In addition to the previously stated characteristics, the development of signal processing algorithms adds robustness that contributes to the advancement of this technology. Hence, owing to several advantages offered by PPG, the demand for these biosensors will surge in forthcoming years, leading to market growth.
Browse through Grand View Research's Healthcare Industry Related Reports
- Biosensors Market - The global biosensors market size was valued at USD 24.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.0% from 2022 to 2030.
- Glucose Biosensors Market - The global glucose biosensors market size was valued at USD 10,206.3 million in 2021 and is anticipated to expand at a CAGR of 7.9% during the forecast period.
PPG Biosensors Industry Segmentation
Grand View Research has segmented the global PPG biosensors market on the basis of product, application, and region:
PPG Biosensors Product Outlook (Revenue, USD Million, 2016 - 2028)
- Pulse Oximeters
- Smart Watches
- Smart Wrist Bands
- Other Products
PPG Biosensors Application Outlook (Revenue, USD Million, 2016 - 2028)
- Heart Rate Monitoring
- Blood-oxygen Saturation
- Blood Pressure
- Other Applications
PPG Biosensors Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA (Middle East & Africa)
Market Share Insights:
- Nov 2020: Realme launched Realme Watch S with a PPG sensor and a SpO2 sensor across the globe.
- August 2020: Valencell launched the world’s 1st calibration-free Blood Pressure (BP) sensor system for integration in hearables and wearables. The technology uses Photoplethysmography (PPG) and inertial sensors.
Key Companies profiled:
Some prominent players in the global PPG Biosensors Industry include
- Valencell, Inc.
- Maxim Integrated
- Murata Manufacturing Co., Ltd.
- Silicon Laboratories
- Mediatek
- ams AG
Order a free sample PDF of the PPG Biosensors Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Comments
Post a Comment