The global health sensors market size was US$ 37.1 billion in 2021. The global health sensors market is forecast to grow to US$ 188.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 18.2% during the forecast period from 2022 to 2030.

Factors Influencing the Market

The beneficial features of health sensors are forecast to drive the growth of the market. Health sensors are beneficial for monitoring vital parameters such as blood pressure and heart rate. In addition, the technology is considered highly accurate and reliable. As a result, it will fuel the growth of the market.

The rising prevalence of chronic diseases and growing awareness related to home healthcare and appliances will contribute to the growth of the market.

The growing number of partnerships and product launches will benefit the health sensors market in the coming years. For instance, Analog Devices, Inc announced the acquisition of Linear Corporation in 2017. Through this, the company intends to expand its geographical reach. Furthermore, GE Healthcare collaborated with FitTrace in 2018 with the aim to offer body analysis software to athletes.

The growing demand for wearable technology will escalate the growth of the health sensors market. For instance, Honeywell introduced its wearable technology in May 2021. The technology allows employees to have real-time information about their health.

The high cost of medical sensors may limit the growth of the market.

Favorable policies by governments are forecast to boost the growth of the global health sensors market. For instance, the Indian government introduced four new mobile health services, which included Kilkari, M-Cessation, Mobile Academy, and TB Missed Call initiative.

COVID-19 Impact Analysis

The COVID-19 pandemic surged the demand for mHealth and wearable technology. Due to the pandemic, the demand for oximeters and other essential technologies surged abruptly. As a result, it positively impacted the growth of the global medical sensors market.

Regional Analysis

Due to favorable government policies and increasing healthcare expenditure, the Asia-Pacific health sensors market is forecast to grow at the fastest rate. In addition, changing lifestyles and unhealthy food habits increases the probability of diseases, such as obesity and diabetes. As a result, the Asia-pacific market will witness a significant jump in terms of revenue.

China is forecast to have a significant contribution due to the growing number of technological advancements and rapidly growing geriatric population base. China is forecast to witness immense growth opportunities in point-of-care diagnostics due to growing awareness among the citizens. As a result, it will escalate the growth of the overall health sensors market during the study period.

Competitors in the Market

Analog Devices, Inc.
Avago Technologies Ltd
Danaher Corporation
GE Healthcare
Honeywell International Inc.
Abbott Laboratories
Roche Diagnostics
Proteus Digital Health
Varian Medical Systems
Stryker Corporation
Other Prominent Players
Market Segmentation

The global health sensors market segmentation focuses on Product, Application, and Region.

By Product

Hand-Held Diagnostic Sensors
Wearable Sensors
Implantable/Ingestible Sensors
By Application

Wellness Monitoring
Chronic Illness & At Risk-Monitoring
Patient Admission Triage
Logistical Tracking
In Hospital Clinical Monitoring
Sensor Therapeutics
Post Acute Care Monitoring
By Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America