The global PPG biosensors market size is expected to reach USD 839.3 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 12.1% from 2021 to 2028. An increasing number of cardiovascular disorders, the impact of COVID-19, the surge in adoption of smart wearables, and technological advancements are the key driving factors for the market.
The
increasing incidence of cardiovascular diseases across the globe is anticipated
to drive the market. For instance, according to the American Heart Association,
almost 17.0 million people die each year as a result of cardiac abnormalities,
and this figure is expected to rise to 23 million by 2030. PPG typically
measures blood pressure, oxygen saturation, and cardiac output through a series
of waves and peak detection. Thus, the rising number of CVDs is expected to
boost the demand for PPG biosensors, which is expected to lead to considerable
market growth over the forecast period.
The
increasing adoption of wearable healthcare devices in developing economies is
expected to drive the market. Fit bits, pulse oximeters, smartwatches,
and other wearable healthcare systems are incorporated with optical sensors to
provide real-time patient health tracking solutions. For instance, the Realme watch
comes with wide-ranging health functions comprising of blood-oxygen-level
(SpO2) and top-level PPG heart rate sensors. Several smartwatches with inbuilt
PPG sensors from Apple, Moto G, Realme will be launching in later 2021. In Oct
2020, Mobvoi launched its new TicWatch Pro 3 smartwatch in India that consists
of a PPG sensor. Moreover, smart rings are relatively new, however, Oura Ring
facilitated with Infrared Photoplethysmography Sensors (PPG) for heart rate and
respiration, is booming in the market. These sensors have many advantages,
including high precision, small scale, and no sensitivity to electromagnetic
radiation, which makes them suitable for use in medical-grade wearable devices.
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PPG Biosensors
Market Report Highlights
- In terms of
revenue, the smartwatches segment held the largest revenue share in 2020.
The rising adoption of smartwatches across the globe is the major factor
propelling the segment growth
- The heart
rate monitoring segment held the largest revenue share in 2020 and is expected
to witness the fastest growth over the forecast period due to the
increasing number of cardiovascular disorders
- In Asia
Pacific, the market is expected to witness the fastest growth rate over
the forecast period owing to the rising prevalence of cardiovascular
disorders
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PPG Biosensors
Market Segmentation
Grand View Research has
segmented the global PPG biosensors market on the basis of product,
application, and region:
PPG
Biosensors Product Outlook (Revenue, USD Million, 2016 - 2028)
- Pulse Oximeters
- Smart Watches
- Smart Wrist Bands
- Other Products
PPG
Biosensors Application Outlook (Revenue, USD Million, 2016 - 2028)
- Heart Rate Monitoring
- Blood-oxygen Saturation
- Blood Pressure
- Other Applications
PPG
Biosensors Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- Japan
- China
- Latin America
- Brazil
- Mexico
- MEA
- South Africa
- Saudi Arabia
List of Key
Players of PPG Biosensors Market
- Valencell, Inc.
- Maxim Integrated
- Murata Manufacturing Co., Ltd.
- Silicon Laboratories
- Mediatek
- ams AG
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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