Canada Ppg Biosensors Market Size & Outlook, 2023-2030
Canada ppg biosensors market, 2018-2030 (US$M)
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Canada ppg biosensors market highlights
- The Canada ppg biosensors market generated a revenue of USD 27.6 million in 2023 and is expected to reach USD 52.9 million by 2030.
- The Canada market is expected to grow at a CAGR of 9.8% from 2024 to 2030.
- In terms of segment, smart watches was the largest revenue generating product in 2023.
- Smart Watches is the most lucrative product segment registering the fastest growth during the forecast period.
Ppg biosensors market data book summary
| Market revenue in 2023 | USD 27.6 million |
| Market revenue in 2030 | USD 52.9 million |
| Growth rate | 9.8% (CAGR from 2023 to 2030) |
| Largest segment | Smart watches |
| Fastest growing segment | Smart Watches |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Pulse Oximeters, Smart Watches, Wrist Bands |
| Key market players worldwide | Analog Devices Inc, Murata Manufacturing Co Ltd, Silicon Laboratories Inc, MediaTek Inc, Ams-OSRAM AG |
Other key industry trends
- In terms of revenue, Canada accounted for 6.1% of the global ppg biosensors market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. ppg biosensors market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 340.2 million by 2030.
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PPG Biosensors Market Scope
PPG Biosensors Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada ppg biosensors market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to ppg biosensors market will help companies and investors design strategic landscapes.
Smart watches was the largest segment with a revenue share of 43.48% in 2023. Horizon Databook has segmented the Canada ppg biosensors market based on pulse oximeters, smart watches, wrist bands covering the revenue growth of each sub-segment from 2018 to 2030.
Well-established healthcare structure in Canada is a key factor encouraging medical device manufacturers to develop products that enhance care along with cost-efficiency. Moreover, with increase in the number of healthcare institutions and rise in incidence of chronic conditions, the region is expected to be a major revenue generator for the market.
According to Hypertension Canada, almost one in five adults suffers from hypertension in the country, representing 75 million people in Canada. According to Institute of Health Economics, Canada, about 3% of the country's annual healthcare spending is for medical devices and diagnostics.
Factors such as increasing burden of chronic diseases and growing preference for wearable devices drive the market. For instance, according to the July 2021 update from the Canadian government, 6.3 million Canadians aged 65 or older lived with chronic conditions in 2021. Presence of various tech firms engaged in developing wearables is likely to further support market growth.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada ppg biosensors market , including forecasts for subscribers. This country databook contains high-level insights into Canada ppg biosensors market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada ppg biosensors market size, by product, 2018-2030 (US$M)
Canada PPG Biosensors Market Outlook Share, 2023 & 2030 (US$M)
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