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Body Sensors Market Touch a Valuation of USD 19 Bn by 2023 | By 4B Braime Components Ltd., Allegro MicroSystems, ASC GmbH, Balluff GmbH, Barksdale GmbH and Baumer Group Etc
Body Sensors Market
Global Body Sensors Market – Insights
Considering the importance of sensors as a component of the quality and reliability of healthcare solutions, manufacturers operating in the market are working in accordance with certified processes and procedures to develop adept body sensors distributing equal focus on the production and service activities.
Additional factors boosting the growth of the market include overwhelming innovations in medical technology, the evolving sensor technology, and increasing adoption of this technology for various healthcare-related purposes.
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Furthermore, the rising prevalence of chronic diseases such as COPD and others and the augmented demand for intensive care for patients in critical conditions are propelling the market demand for body sensors.
Key Players:
Key players leading the global body sensors market include Allegro MicroSystems (US), 4B Braime Components Ltd. (UK), Koninklijke Philips N.V. (Netherlands), Althen GmbH Mess (Germany), Amsys GmbH (Germany), ASC GmbH (Germany), Barksdale GmbH (Germany), Balluff GmbH (Germany), and Baumer Group (Switzerland) among others.
Global Body Sensors Market –Segments
The MRFR analysis is segmented into four key dynamics for enhanced understanding.
By Type: Motion Sensors, Position Sensors, Temperature Sensor, Inertial Sensors, and Pressure Sensors, among others.
By Application : Fitness, Blood Pressure Monitoring, Temperature Monitoring, Heart Rate Monitoring, and Weight Monitoring among others.
By End-users: Athletes, Soldiers, and Medical Patients among others.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Global Body Sensors Market – Competitive Analysis
The well-established body sensors market appears fragmented due to a number of matured players illustrating the space as highly competitive. These players are focusing on developing their product portfolio with the help of advanced technologies.
Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players. Large players are investing in internal R&D activities to bring novelties to their existing products as well. Increasing government funding is also expected to motivate key companies to develop new body sensors that match the changing trends and needs of the patrons.
Industry/Innovation/Related News:
January 11, 2019 --- Starkey Hearing Technologies (the US) a leading global manufacturer of hearing aids presented its Livio AI hearing aids with body sensors built-in at the CES 2019. The Livio AI device (launched in 2018) work like body trackers to monitor one’s brain and physical health. These hearing aids, with their motion sensors and a heart rate monitor built-in, come with an accompanying smartphone app that can display live information about the user’s health.
December 31, 2018 --- Iota Biosciences, Inc. (the US), a leading global manufacturer of medical devices in the nature of wireless sensors announced raising funding of USD 15MN to produce in-body sensors smaller than a grain of rice.
Although heart-rate monitors and fitness trackers are good enough to meet the needs, these are not as convenient to track activities inside the body. Iota wants to change that with millimeter-wide sensors that can live more or less permanently in a human body and transmit wirelessly what they detect.
Global Body Sensors Market – Regional Analysis
Globally, the North American region accounts for the leading market for body sensors. The increasing prevalence of cardiovascular diseases, hypertension, and obesity issues that are leading to heart diseases & disorders alongside the rising geriatric population is impacting market growth positively.
The market is continually growing due to the growing number of patients suffering from major/minor heart issues. Moreover, factors fostering the regional market include the increasing emphasis on healthcare, the presence of key players, high healthcare expenditure, and well-developed technology.
Additionally, increasing government initiatives and funding for research, rising demand for technologically advanced wearable heart monitoring devices, and developments in advanced medical treatment options are substantiating the market growth.
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The body sensors market in the European region accounts for the second-largest market due to the increasing healthcare expenditure, availability of advanced treatment facilities, and government initiatives.
Led by the increasing number of cardiovascular issues that are becoming paramount concerns, the European body sensors market is likely to register an impressive CAGR during the review period.
Furthermore, increasing government support and funding released for the development, and improving treatment are fuelling the growth of the regional market.
The Asia Pacific region, heading with the increasing number of aging populaces and the rising prevalence of cardiac disorders, is rapidly emerging as a profitable market for body sensors.
Occurrences of cardiovascular diseases in the region are growing at an alarming rate. Simultaneously, other dominant factors such as the faster adoption of healthcare technology, government initiatives to improve the quality of healthcare, favorable insurance, and reimbursement policies are fostering the growth of the APAC body sensors market.
Additionally, eminent key players are increasingly setting up their manufacturing plants in some of the APAC countries such as China, Singapore, Japan, Australia, and Korea which, in turn, is propelling the market growth of body sensors in this region.
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