Body Sensors Market Scope
The body sensors market 2020 could possibly hit USD 25 billion by 2023, reveals Market Research Future (MRFR). The market is also set to obtain a growth rate of close to 10.7% between 2017 and 2023 (evaluation period). We will provide COVID-19 impact analysis with the report, along with all the key developments since the coronavirus disease outbreak.
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Body Sensors Market Top Boosters and Main Barriers
Demand for devices and tools that accurately diagnose SARS-CoV-2 non-invasively and in real time has surged not only in hospitals but at home as well. Since the COVID-19 outbreak, people’s interest in consumer-grade wearables has risen notably to keep a track of the virus. A latest partnership between the University of California, West Virginia University and Oura Ring has led to development of a digital tracking device based on body sensors that tracks the physiological aspects of frontline medical workers. Various electronic body sensor-based wearables are being introduced that can be attached to points beyond the finger or wrist, while providing vital information with regard to the novel coronavirus like its symptoms and signs.
Since SARS-CoV-2 is primarily a respiratory disorder, measurement of biomarkers like cough intensity, sound and frequency along with the respiratory rate by body sensors can be quite helpful. Apart from this, the worldwide lockdown has derailed manufacturing as well as production, which acts as a reminder of the disadvantages of being too dependent on human labor. The pandemic has highlighted the importance of automation and robotics, demand for which has apparently shot up significantly in the post-COVID-19 era. With automation, digitalization and IoT picking up more speed than usual in these uncertain times, the body sensors market is projected to emerge stronger than ever before.
The alarming increase in chronic diseases and the rising penetration of body sensors in the healthcare domain can induce large-scale growth in the near future. Also, continuous technological innovations in body sensors and the emerging trend of hearables, which give notifications that are heard instead of being read, also benefit the market. Body sensors cater to industries like fitness & wellness, infotainment, industrial, military, healthcare and medical, clinical setting, to name a few. Escalating demand for wearable technology and leading vendors trying to leverage the opportunity by launching new and advanced products in the market can also enhance the market size in the following years.
For instance, in August 2020, Fitbit launched a smart watch wearable that includes an electrodermal activity sensor, a heart rate tracker, an on-wrist skin temperature sensor and an electrocardiogram app. The electrodermal activity sensor helps analyze the body’s reaction to various stressors for effective stress management.
Body Sensors Market Segmentation
Body sensors market can be split into type and application.
The key types of body sensors are pressure sensors, position sensors, motion sensors, inertial sensors, temperature sensor, and others.
Weight monitoring, blood pressure monitoring, fitness, heart rate monitoring, temperature monitoring, and more are the top applications of body sensors.
Body Sensors Market Regional Insight
Regionally, the Body sensors industry has been considered for Europe, Middle East and Africa/MEA along with Asia Pacific/APAC and North America.
North America is the global leader in the body sensors market, as a result of the extensive adoption of wearable medical devices, high frequency of R&D is the medical technology field and the escalating demand of smart sensors. The growing prominence of chronic diseases like COPD and the increasing need for intensive care for critical patients also favor the market. Home care services are extremely popular in the region, especially in the United States, which also gives rise to the demand for body sensors for self-diagnosis and chronic disease monitoring via notifications and real-time communication.
The APAC market is advancing at the fastest rate, thanks to the rising number of government initiatives and spending on research and the strong demand for cutting edge wearable heart monitoring devices. The increasing advancements in medical treatment options also benefit the market in the region. The rising number of highly renowned vendors shifting their manufacturing facilities to APAC countries like Singapore, China, Australia, Korea and Japan also works in favor of the body sensors market.
Body Sensors Industry Players
Leading firms in the worldwide industry include Balluff GmbH (Germany), Barksdale GmbH (Germany), Baumer Group (Switzerland), Amsys GmbH (Germany), ASC GmbH (Germany), Koninklijke Philips N.V. (Netherlands), Althen GmbH Mess (Germany), Allegro MicroSystems (US), 4B Braime Components Ltd. (UK), to mention a few.
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