A recent report published by Infinium Global Research on the
body sensor market provides an in-depth analysis of segments and sub-segments
in the global as well as regional body sensor market. The study also highlights
the impact of drivers, restraints, and macro indicators on the global and
regional body sensor market over the short term as well as long term. The
report is a comprehensive presentation of trends, forecasts, and dollar values
of the global body sensor market. According to the report, the global body
sensor market is projected to grow at a CAGR of nearly 10% over the forecast
period of 2022-2028.
The global body sensor market was valued at over USD 30
Billion in 2022 and is expected to reach about USD 55 Billion in 2028, with a
CAGR of nearly 10% during the forecast period. Body sensors are electronic wireless
computing devices, which can be worn on the body or installed inside the body.
The body sensor can also be carried on clothes and bags. With a growing
preference for smart, small, and cheap sensors, the healthcare industry has the
highest growing benefit of body sensors, and persistent research and
development in the fields of the Internet of Things (IoT), Augmented Reality
(AR), and Man-to-Machine (M2M) are some of the key factors driving the growth
of the global body sensor market. Moreover, privacy and security issues,
regulatory issues, and the high cost of the products are the key factors
restraining this market. The increasing number of devices and a growing number
of applications are likely to bring more opportunities to this market.
COVID-19 was an incomparable global public health emergency
that has affected almost every industry and is projected to impact this various
industry growth during the forecast period. During the Covid-19, pandemic
people were compelled to stay in their homes. The governments of many countries
in the world turned their focus to healthcare from other industries. This
significantly disrupted their supply chain operations and manufacturing as
lockdowns were imposed by the respective governments. Manufacturing facilities
were all shut down due to the pandemic in almost every country across the
globe. Due to the pandemic, several industries including body sensors were
adversely negatively affected. Logistical restrictions, manpower shortage,
material unavailability, and other restrictions had reduced the growth of the
industry. The pandemic has affected the normal production of companies. The
COVID-19 pandemic has created instability in the body sensor market across the
globe. However, the market is now estimated to have reached pre-pandemic levels
and is expected to grow steadily during the forecast period. Infinium Global
Research's recent report on the “body sensor market" offers an ample
outline of the factors responsible for the growth of the market. This body sensor
market report includes all the details such as all the new recent developments,
import-export analysis, production analysis, strategic market growth product
launches, and much other information.
The body sensor market is projected to register a significant
CAGR during the forecast period. The increasing popularity of wearable devices
is a significant factor aiding in the expansion of the global body sensor
market growth. Body sensors are little clinical gadgets utilized for
persistently observing temperature, pressure, and other imperative boundaries
of wellbeing. These sensors are fused with anodes that sensor such boundaries.
Consistent checking encourages an individual to take preventive measures and
maintain a strategic distance from any further confusion to his well-being.
Broad utilization of wearable clinical gadgets, innovative progression, and a
decrease in the number of visits to the emergency clinic or facility decide the
development of this market. Huge scope of clinical gadget organizations centers
around consistent item improvement, in this way expanding the interest of these
sensors on the lookout. Expanding inclination towards more brilliant, more
modest, and less expensive sensors, developing advantages of wearable gadgets
in the medical care industry, and persevering innovative work in the fields of
the Internet of Things (IoT), Augmented Reality (AR), and Man-to-Machine (M2M)
are a portion of the key elements clearing an ideal future for the worldwide
body sensor market.
The report provides a regional outlook covering geographies
such as North America, Europe, Asia-Pacific, and the Rest of the World. North
America holds command over the global body sensor market and is expected to
dominate the overall market during the forecast period. North America has the
highest penetration for body sensors as they are early adopters of newer
technology. The rapid increase in product innovation and the increasing demand
for these sensors in various fields are expected to drive the market at a
faster rate. Europe and the Asia Pacific are followed next after North America
owing to the presence of a diversified patient pool, emerging economies, and a
rise in the collaboration of domestic and international companies in these
regions, thus driving this market.
The report on the global body sensor market covers segments
such as product type, placement type, and application. On the basis of product
type, the sub-markets include blood pressure sensors, respiration sensors,
temperature sensors, ECG sensors, and others. On the basis of placement type,
the sub-markets include wearable, and implantable. On the basis of application,
the sub-markets include defense, healthcare, sports body, and man-machine
interface.
The report provides profiles of the companies in the market
such as Abbott Laboratories, Apple Inc., ASC GmbH, Fitbit, Inc., Garmin,
Koninklijke Philips, Texas Instruments, Allegro MicroSystems,
STMicroelectronics, and MTS Systems.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of the body sensor
market. Moreover, the study highlights current market trends and provides
forecasts from 2022-2028. We also have highlighted future trends in the market
that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.