Press release
Sensor Devices for Mobile Health Care Market to Develop Rapidly by 2025
The global Sensor Devices For Mobile Health Care Market is expected to witness robust growth during the forecast period owing to maturation of technology leading to miniaturization of sensor devices. Major factors propelling the market are low cost of sensors, integration of sensors into consumer devices, surging geriatric population, rise in awareness about health and fitness, increase in remote patient monitoring, and prevalence of chronic and lifestyle diseases. Surge in penetration rate of mobile and smartphone and reimbursement policies are the other factors likely to drive the global market from 2017 to 2025. Regulatory issues, privacy and security concerns, lack of clarity in health communication, and standard protocols are projected to restrain the global sensor devices for mobile health care market during the forecast period.
The global sensor devices for mobile health care market can be segmented base on product type, application, and region. In terms of product type, the global market can be divided into microphone sensors, camera sensors, accelerometer sensors & geolocation facilities, and others. Based on application, the global sensor devices for mobile health care market can be segmented into health and wellness monitoring, safety monitoring, home rehabilitation, early diagnosis of disorders, efficacy assessment (clinical trials), and others. The health and wellness segment is expected to witness high growth owing to rise in awareness about fitness and health and prevalence of chronic disease.
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Geographically, the sensor devices for mobile health care market can be segmented into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is expected to dominate the global market in terms of value and volume, followed by Europe. Growth of the market in North America is attributed to rapid innovation of technology, rise in enthusiasm in individuals about gathering quantified data about their health, and prevalence of unhealthy lifestyle.
The sensor devices for health care market in Asia Pacific is expected to experience fastest growth rate owing to improving technology, rise in geriatric population, health awareness initiatives undertaken by governments, change in lifestyle, and rise in awareness about health and fitness. China is expected to be the fastest growing market due to factors such as low cost, easy availability of the devices, and growing population.
The massive potential of the world’s smallest sensor device integrated into consumer devices is the future of the global market. Hence, to maintain a significant position in the global sensor devices for mobile health care market, the key players are adopting various strategies such developing a technologically advanced and highly efficient product, mergers and acquisitions, and geographical expansion to enter into untapped market. Key players operating in the global market are Apple, Inc., Fitbit, Inc., Koninklijke Philips N.V., Samsung, and Medtronic MiniMed.
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