Health Sensors Market Size To Reach $142.18Bn By 2030

Health Sensors Market Growth & Trends

The global health sensors market size is anticipated to reach USD 142.18 billion by 2030, registering a CAGR of 19.07% over the forecast period, according to a new report by Grand View Research, Inc.. The market is expected to grow due to the increasing geriatric population, growing inclination towards fitness, and increasing prevalence of chronic diseases. In the current complex healthcare environment, the need for advanced and accurate monitoring systems increases as healthcare organizations progress to provide better services. Health sensors is continuously evolving from ad-hoc to continuous monitoring to provide accurate data to clinicians to make treatment decisions.

The main focus of hospitals and healthcare providers is to get reliable data and lower-cost devices, which is considered the first step toward technological advancement. Moreover, technological advancements in health sensors devices can support clinicians in identifying patients with high risk of disease, which is anticipated to spur industry growth. For instance, in January 2021, Biosticker is a highly on-body advanced sensor that allows effortless monitoring of vital signs and actionable insights provided to clinicians from patients in hospitals or homecare settings, which can create a unique opportunity for the early detection of complications. As a result of this, the industry is expected to grow.

The COVID-19 outbreak is expected to have a positive impact on the overall industry. This is due the factors, such as high product demand to remotely monitor the health status of patients infected with coronavirus or self-quarantined individuals taking treatment in a personal room, to reduce the transmission rate of COVID-19 infectious among the caregivers, surgeons, patients of other diseases, and hospital management personnel as wearable technology enables the caregivers & surgeons to check patients in real-time, and others. The coronavirus outbreak has also compelled a complete reassessment of clinical trial design. The use of wearables in decentralized clinical trials is one area with significant potential (DCTs).

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Health Sensors Market Report Highlights

• Based on product, the wearable sensors segment held the market with the largest revenue share of 40.57% in 2023.

• Based on type, the heart rate segment led the market with the largest revenue share in 2023 due to its prominent role in monitoring the health of patients.

• In terms of application, the chronic illness & at-risk-monitoring led the market with largest revenue share of 22.75% in 2023.

• North America dominated the market with a revenue share of 34.6% in 2023. This can be attributed to its well-established healthcare infrastructure, high healthcare expenditure, presence of dominant players, and rapid adoption of advanced technologies.

Health Sensors Market Segmentation

Grand View Research has segmented the global health sensors market on the basis of type, product, application, end use, and region:

Health Sensors Type Outlook (Revenue, USD Million, 2018 - 2030)

• Temperature Sensors

• Pressure Sensors

• Blood Glucose Sensors

• Blood Oxygen Sensors

• Electrocardiogram (ECG) Sensors

• Motion Sensors

• Image Sensors

• Flow Sensors

• Heart Rate Sensors

• Others

Health Sensors Product Outlook (Revenue, USD Million, 2018 - 2030)

• Handheld Diagnostic Sensors

  • Chronic illness & at risk-monitoring

  • Patient admission triage

  • Logistical tracking

  • In hospital clinical monitoring

  • Post-acute care monitoring

• Wearable Sensors

  • Disposable wearable sensors

  • Non-disposable wearable sensors

    • Wellness monitoring

    • Chronic illness & at risk-monitoring

    • Patient admission triage

    • Logistical tracking

    • In hospital clinical monitoring

    • Sensor therapeutics

    • Post-acute care monitoring

  • Implantable/Ingestible Sensors

    • Wellness monitoring

    • Chronic illness & at risk-monitoring

    • Patient admission triage

    • In hospital clinical monitoring

    • Sensor therapeutics

    • Post-acute care monitoring

Health Sensors Application Outlook (Revenue, USD Million, 2018 - 2030)

• Handheld Diagnostic Sensors

• Chronic Illness & At Risk-Monitoring

• Wellness Monitoring

• Patient Admission Triage

• Logistical Tracking

• In Hospital Clinical Monitoring

• Sensor Therapeutics

• Post-Acute Care Monitoring

  • Home-based

  • Others

Health Sensors End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals & Clinics

• Long-term care centers & Nursing homes

• Home Care Settings

• Others

Health Sensors Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

• U.S.

• Canada

• Europe

• UK

• Germany

• France

• Italy

• Spain

• Denmark

• Sweden

• Norway

• Asia Pacific

• Japan

• China

• India

• South Korea

• Australia

• Thailand

• Latin America

• Brazil

• Mexico

• Argentina

• Middle East & Africa

• South Africa

• Saudi Arabia

• UAE

• Kuwait

List of Key Players of  Health Sensors Market

• Analog Devices Inc.

• Avago Technologies Ltd.

• Danaher Corp.

• GE Healthcare

• Honeywell International Inc.

• Medtronic Plc.

• Smith’s Medical Inc.

• Koninklijke Philips

• Sensirion AG

• Stryker Corp.

• Abbott Laboratories

• Roche

• Hologic

• Varian Medical System