In today’s world, due to constant and significant technological advancements, biosensors industry is witnessing substantial growth over the last few years. Wearable biosensor works on a technology which integrates a biological response, a detector element and signal processors.
Wearable Biosensors Market: Introduction
Components of a wearable biosensors include a transducer to convert the response sensed into an electrical signal, a biological element for sensing the substance and electronic devices to amplify the electrical signal and display it digitally. Nowadays, development in wearable biosensors are proving to be worth, majorly in medical science due to their extreme flexibility and versatility.
These devices assist in continuous monitoring of physiological, biochemical, and motion sensing, accurately for diagnosis purpose.
Nowadays, various wearable biosensors such as ring sensors and smart shirts are developed owing to technological progress in this field. Wearable biosensors are used in number of applications such as monitoring of patients, training support for athletes, and monitoring of individuals working in hazardous environment.
Wearable Biosensors Market: Drivers and Restraints
Access to real time information, and increase in spending in healthcare and defence sector are the major factors driving the growth of wearable biosensors market. Moreover, factors such as increase in chronic disease, awareness of health related issues in people and increasing population are also resulting in the growth of wearable biosensors market.
However, high initial investment, limited monitoring of physiological parameters, lack of technological maturity are some factors restraining the growth of wearable biosensors market.
Wearable Biosensors Market: Segmentation
Wearable biosensors market can be segmented on the basis of application, biosensor type, end-user vertical, and region wise. On the basis of application it can be further segmented into home diagnostics, research labs, biodefense, environment monitoring and point of care.
Considering biosensors type it can be categorized into electrochemical, thermal, piezoelectric, accelerometer, and optical biosensors. On the basis of end user vertical it can be sub-segmented into Healthcare, Defence, Manufacturing, Hospitality, Food and Beverages, Energy and Utility, and Others.
Region wise, wearable biosensors market can be segmented into North America, Latin America, Asia Pacific, Japan, Eastern Europe, Western Europe, and Middle East & Africa.
Wearable Biosensors Market: Regional Overview
Wearable biosensors market in APAC region is expected to grow at the highest rate in the forecast period, owing to high adoption of medical testing and diagnostic devices as consumer awareness towards health is increasing. North America region wearable biosensors market is also one of the largest market due to continuous enhancement of healthcare infrastructure and increased spending on wearable technology in healthcare, fitness and security.
Europe region is another leading market in wearable biosensors market due to increase in demand of body wear paired with automation, because of consumer awareness regarding benefits of wearable biosensors. Wearable biosensors market in Latin America and Middle East is expected to grow at a substantial pace due to increase in demand of fitness devices owing to low cost and increased benefits.
Wearable Biosensors Market: Key Players
Google Inc., Microsoft, SAMSUNG, Apple Inc., VitalConnect, Huawei Technologies Co., Ltd., Withings SA, Robert Bosch GmbH, Broadcom, Infineon Technologies AG, mCube, Inc., Knowles Electronics, LLC., Panasonic Corporation, TE Connectivity Ltd., Asahi Kasei Corporation, NXP Semiconductors, Invensense, Inc., Texas Instruments Inc, ARM Holdings PLC, Vancive medical technologies, Jaw bone, Tactio health group, and Zephyr are some of the key players in wearable biosensors market.
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