Wearable Health Sensors Market by Tools, Technology, Healthcare Application, Growth, Competitive Analysis, Future Prospects and Forecast 2019- 2024

This report on Wearable Health Sensors market 2019-2024 provides in depth analysis of industry, which includes financial status, business units, key business priorities, SWOT, business strategies, and views.

Market Overview

The miniaturization of physiological sensors, rising growth toward advanced functions sensors in smart gadgets, improvement in the battery sizes and increasing need for continuous monitoring in healthcare services are the key drivers, which are making the wearable health sensors market to grow lucratively. Wearable health sensors, such as accelerometers, gyroscopes, and other motion sensors are expected to be incorporated into activity monitors, fitness devices, pedometers, golf and tennis swing analysis tools, and sports kinetics applications.

Leveraging wireless connectivity, powerful application processing and storage capabilities in smartphones, wearable sensors are finding new use cases, such as remote patient monitoring, where the patient's motion data analysis can be sent directly to the physician.

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The increased level of awareness concerning healthcare has created an emerging need for smart health sensor technologies and monitoring devices that are able to sense and provide feedback to users about their health status, for increased safety.

Smart sensor technologies in healthcare, ranging from physiological monitoring, such as heart rate, blood analysis, to falls risk applications, assistance, and rehabilitation. This is driving the demand for wearable health sensors in monitoring devices and enabling technologies for ambient assisted living solutions.

The key factors for the proliferation of wearable sensors in healthcare are the availability of low-cost MEMS technologies, low power microcontrollers and efficient and reliable telemetry modules.

Scope of the Report

Sensors used for tracking and finding information related to fitness, health, location, etc. that are integrated in a wearable device or technology are called as wearable sensors. These sensors are integrated into accessories, wearables, cloth, etc. by using wireless devices that allow biological and physiological sensing for measuring, monitoring, checking, and diagnosing blood pressure, heart rate, and other metabolic activities.

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Key Market Trends

Healthcare Industry Holds a Dominant Share in Wearable Health Sensors Market

- The increased level of awareness concerning healthcare has created an emerging need for smart sensor technologies and monitoring devices that are able to sense and provide feedback to users about their health status, for increased safety. Miniaturization of health sensors will lead to significant benefits in their application, since smaller versions of sensors are more flexible, and they can be embedded in a variety of devices to obtain real-time information.
- Wearable devices play a major role in healthcare analytics where the data collected from the device can be used for the analysis and diagnosis of the disease. From headsets that measure brainwaves to clothes that include sensing devices, BP monitors, etc., these have taken personal health monitoring to a new level.
- It has been clinically proven that physiological data collected from the wireless devices is a valuable contributor for managing chronic diseases and monitoring patients post-hospitalization, as a result, the growing number of medical devices are becoming wearable these days, including glucose monitors, ECG monitors, pulse oximeters and blood pressure monitors and so on.
- Small companies are coming into the market with products, such as Serializer, the sensor-fitted insole that can be fitted into footwear and will predict and detect knee and foot injuries and inform the percentage of risk to the user.

Europe has the Highest Market Share

- The significant growth in Wearable Health Sensors market of Europe is being spurred by the reducing costs of sensors and increasing adoption of Smartphones. The growing consciousness among consumers regarding fitness and easy availability of applications that track and monitor fitness are driving the market ahead.
- The expansion of wireless technology in Europe has improved the communication capabilities of sensors considerably. The miniaturization, coupled with the reduction in power requirement of sensors has enabled their integration into various devices in an aesthetic manner thus generating significant buzz among the younger users who are seeking for a combination of technology and fashion.
- The market is expected to register high growth in the Western European countries, owing to the increasing aging population. The implementation of wearables to monitor and track their well-being is creating a significant demand for wearable health sensors.
- Healthcare accounts for a major chunk of the wearable sensors market, particularly in the developed markets, such as the United Kingdom and France. Increasing applications in the fields of Defense and Infotainment are expected to enhance the market. Development of novel applications is the major trend.

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Competitive Landscape

The wearable health sensors market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. It also has a lucrative growth rate with key players investing in R&D to strengthen their product portfolios by launching novel products and technologically upgrading their existing products. The focus of players to manufacture patent products is expected to fuel market competition.

- September 2018 - Apple introduced Apple Watch Series 4, redesigned and re-engineered to help users stay connected, be more active and manage their health in powerful new ways. While retaining the original iconic design, the fourth-generation Apple Watch has been refined, combining new hardware and software enhancements into a genuinely singular, unified form.
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