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Role Of Health Sensors In Driving The Growth Of Home-Based Healthcare Services: A Key Factor Shaping the Future of the Health Sensors Market in 2025
Health Sensors Market
The shift towards home-based healthcare services is expected to boost the growth of the health sensors market. Home-based healthcare services provide medical and non-medical care at home to assist individuals in recovering from illness, managing chronic conditions, or performing daily activities. The demand for these services is growing due to the aging population, cost-effectiveness, and technological advancements. Health sensors play a crucial role by enabling remote monitoring of health parameters, enhancing the quality of care. For instance, a March 2024 report from Statistics Canada showed that the combined revenues of private and public nursing and residential care facilities reached $39.1 billion in 2022. Therefore, the shift towards home-based healthcare services is contributing to the growth of the health sensors market.
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What is the projected compound annual growth rate (CAGR) of the health sensors market from 2025 to 2034, and what factors influence it?
The health sensors market has seen rapid growth, expected to increase from $60.73 billion in 2024 to $72.81 billion in 2025 at a CAGR of 19.9%. Historical growth was fueled by educational initiatives, cost management through early detection, expansion of consumer electronics, integration with EHR systems for efficient data management, and continuous improvements in sensor accuracy and reliability.
The health sensors market is projected to expand rapidly, reaching $148.48 billion in 2029 at a CAGR of 19.5%. Growth is driven by government support for mHealth adoption, rising lifestyle diseases, and corporate wellness programs. Key trends include environmental sensors for health monitoring, predictive analytics, fabric-integrated sensors, and biotechnology advancements.
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How are the latest trends influencing the growth of the health sensors market?
Major companies in the health sensors market are advancing continuous glucose monitoring (CGM) systems to offer real-time glucose tracking for people with diabetes. These systems provide continuous data on glucose levels, reducing the need for fingerstick tests. In October 2022, Abbott Laboratories, a U.S.-based healthcare company, launched the FreeStyle Libre 3 system, which offers continuous glucose monitoring for individuals aged 4 and above, with real-time alerts and compatibility with mobile devices for easy data sharing.
What are the major segments of the health sensors market and their role in driving growth?
The health sensors market covered in this report is segmented -
1) By Product: Hand Held Diagnostic Sensors, Wearable Sensors, Ingestible Or Implantable Sensors
2) By Application: Chronic Illness And At Risk-Monitoring, Wellness Monitoring, Patient Admission Triage, Logistical Tracking, In Hospital Clinical Monitoring, Sensor Therapeutics, Post-Acute Care Monitoring, Other Applications
3) By End User: Hospitals And Clinics, Long-Term Care Centers And Nursing homes, Home Care Settings, Other End Users
Subsegments:
1) Hand Held Diagnostic Sensors: Glucose Monitoring Sensors, Blood Pressure Sensors, Thermometers, Pulse Oximeters, ECG Sensors
2) Wearable Sensors: Fitness Trackers, Smartwatches, Wearable ECG Monitors, Sleep Monitoring Sensors, Activity Monitors
3) Ingestible Or Implantable Sensors: Ingestible Pill Sensors, Implantable Glucose Sensors, Biometric Implantable Sensors, Ingestible Medication Adherence Sensors
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Which regions are key players in the growth of the health sensors market?
North America was the largest region in the dominated market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the health sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the health sensors market?
Major companies operating in the health sensors market are Apple Inc., Samsung Electronics Co. Ltd., Johnson & Johnson, Abbott Laboratories, Medtronic plc, Nokia Corporation, Texas Instruments Incorporated, Koninklijke Philips N.V., Strykar Healthcare, GE HealthCare Technologies Inc., STMicroelectronics, Boston Scientific Corporation, Analog Devices Inc., OMRON Healthcare Inc., Garmin Ltd., Smiths Group plc, Dexcom Inc., Masimo Corporation, Nihon Kohden Corporation, Google Fitbit, Nonin, Sotera Inc., Empatica Inc., AliveCor Inc., Shimmer Sensing
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What Is Covered In The Health Sensors Global Market Report?
•Market Size Forecast: Examine the health sensors market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the health sensors market for a structured understanding.
•Key Players Overview: Analyze major players in the health sensors market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the health sensors market.
•Segment Contributions: Evaluate how different segments drive overall growth in the health sensors market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the health sensors market.
•Industry Challenges: Identify potential risks and obstacles affecting the health sensors market.
•Competitive Landscape: Review strategic developments in the health sensors market, including expansions, agreements, and new product launches.
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