Wearable Biosensor Market
Wearable Biosensor Market By Product (Wearable Electrochemical Biosensors, Wearable Optical Biosensors, Wearable Piezoelectric Biosensors, Wearable Thermal Biosensors, Others), By Application (Healthcare & Medical, Environmental Monitoring, Military & Defense, Food & Agriculture, Others), By Type (Sensor Patches and Embedded Sensors), and By Region - Global Market Report (2024 to 2034)
Analysis of Wearable Biosensor Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Wearable Biosensor Market Outlook (2024 to 2034)
The global wearable biosensor market is estimated to be worth US$ 31,648.8 million in 2024 and is forecast to reach a value of US$ 66,235.1 million by 2034, with a projected CAGR of 7.7% from 2024 to 2034.
Key Market Growth Drivers
The healthcare industry is moving forward with technology, and the trending device gaining the confidence of doctors is a wearable biosensor. With growing advancement and the need for portable patient monitoring devices, wearable biosensors are reshaping the landscape of healthcare with real-time information. Wearable biosensors provide valuable data to doctors and allow them to act swiftly to analyze any disturbance in the person’s vital signs.
People being admitted to hospitals for heart-related and breathing issues are increasing with time, and sometimes the rising patient admissions overcrowd the hospitals. Thus, there is an increased demand for real-time monitoring systems that help doctors keep tabs on patients remotely. Wearable biosensors are one such example of a device that allows doctors to monitor patients remotely.
The rising incidence of infants being born with problems, chronic diseases, and evaluations in biological fluids is increasing the need for biomedical monitoring systems. The rise of the geriatric population is another reason for the increased use of wearable biosensors.
For instance, it was posited that wearable biosensors could be used to predict aggressive behavior in people with autism. The study was performed by researchers from Northeastern University in December 2023.
|Estimated Market Value (2024E)
|US$ 31,648.8 million
|Forecasted Market Value (2034F)
|US$ 66,235.1 million
|Global Market Growth Rate (2024 to 2034)
|Wearable Electrochemical Biosensors Segment Growth Rate (2024 to 2034)
|Healthcare & Medical Segment Growth Rate (2024 to 2034)
|North America Market Share (2024)
|East Asia Market Share (2024)
|Key Companies Profiled
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What Industries other than Healthcare are Driving the Global Surge in Wearable Biosensor Demand?
“Wearable Biosensors are Being Used in the Food & Beverage Industry for Quality Control Measures”
Biosensors help regulate various materials used in food and beverages. Carbohydrates and acids are two of the materials that can be tested using biosensors. Biosensors are also useful in checking the fermentation of drinks like beer and yogurt. Thus, wearable biosensors, as a measure of quality control, have a range of applications in the food and beverage industry.
“Wearable Biosensors are Being Used to Regulate the Environment”
With rising levels of environmental damage, there is a greater need to regulate the various environmental factors that people come into contact with. Wearable biosensors help people check the quality of the air and water they are consuming. As global warming, pollution, and other environmental problems continue to plague people, the need for wearable biosensors is felt.
Which Factors Present Challenges to the Expansion of the Wearable Biosensor Market?
“High Price of the Product, Alternative Provided by Non-wearable Biosensors, and Lack of Awareness of the Proper Use Impeded in the Growth of the Market”
While many doctors recommend the use of wearable biosensors, the cost of the product is too expensive for many. With medical bills piling up, some patients are hesitant about forking out more money for wearable biosensors.
Traditional, non-wearable biosensors provide a significant source of competition for wearable ones. Traditional biosensors have earned the trust of medical professionals and are thus still preferred. Further, patients' inclination toward in-person care ensures the use of conventional biosensors.
There is still a lack of awareness among patients about how to use the product. Healthcare professionals and companies in the market are, however, working to propagate the proper use of the product among patients. Thus, there are several obstacles in the way of the market’s growth.
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North America holds a considerable portion of the market share. For 2024, it is pegged to be US$ 8,703.4 million, with a share of 27.5%. For the 2024 to 2034 period, the market is expected to register a pleasant CAGR of 8.2%. At the end of the forecast period, the North America market value is estimated to reach US$ 19,075.7 million, with a share of 28.8%.
East Asia is another lucrative region for the wearable biosensor market, owing to the considerable geriatric population. While the market share for the region is estimated to be around 38.5%, with a valuation of US$ 12,184.8 million, the CAGR for the market over the forecast period is anticipated to be a promising 7.9% in 2024. As a result, by the time 2034 rolls around, the valuation of the market in East Asia is expected to be US$ 26,229.1 million, with an increased share of 39.6% of the global market.
What Makes Japan Such a Promising Country for the Wearable Biosensor Market?
“Significantly Aging Population of Japan is Necessitating More Use of Wearable Biosensors in Japan”
The wearable biosensor market’s value in Japan is anticipated to be US$ 2,936.5 million in 2024 and is forecast to reach a value of US$ 6,609.7 million by 2034, with a projected CAGR of 8.5% from 2024 to 2034.
Low birth rates and the increasing elderly population in Japan create a potential for the growth of real-time monitoring devices. As people are admitted to hospitals and require medical care, the use of biosensors is necessary. Japan is also one of the technologically advanced countries in the healthcare sector. Thus, wearable biosensors have an easy point of entry in the nation. To avoid overcrowding of hospitals, doctors prefer remote monitoring solutions to timely diagnosis of medical conditions; thus, demand for wearable biosensors is getting boosted in Japan.
Why is the Wearable Biosensor Market Enjoying Progress in Canada?
“Research and Development of Novel Products Ensures the Demand for Wearable Biosensors Remains Fresh in Canada”
The market value of wearable biosensors in Canada for 2024 is marked at US$ 1,114.0 million. The market is expected to register an encouraging CAGR of 8.4% in Canada over the forecast period, reaching a valuation of US$ 2,498.9 million by 2034.
For the wearable biosensor industry in Canada, research and development appear to be the name of the game. Companies are investing heavily in research to develop new products, while market players’ efforts are augmented by research activities taken up by various universities and research centers. Canada is often at the forefront of the ongoing innovations in wearable biosensors. Thus, the market’s future is expected to be bright in Canada over the forecast period.
The widely adopted type of wearable biosensors is wearable electrochemical biosensors. For 2024, wearable electrochemical biosensors are expected to account for 23.7% of the market share by product. Wearable biosensors other than electrochemical, optical, piezoelectric, and thermal are close behind, with an expected share of 21.8% in 2024. Miscellaneous other uses go a step further and win out in the application segment.
For 2024, the use of wearable biosensors for purposes other than healthcare and medical, environmental monitoring, military & defense, and food and agriculture is expected to account for 25.4% of application category. Healthcare & medical use are the runner-up, with an estimated share of 22.7% in 2024.
Why are Wearable Electrochemical Biosensors the Predominant Product Type in the Market?
“Wearable Electrochemical Sensors Ability to Monitor Living Cells Make Them Popular”
Wearable electrochemical biosensors are likely to contribute 23.7% by product type in 2024. Through 2034, the product is expected to progress at a CAGR of 12.1%. By the end of the forecast period, the market share for wearable electrochemical biosensors is expected to have risen to 24.3%.
Wearable electrochemical biosensors can regulate enzymes or living cells. Thus, they find prominent use in the healthcare industry. However, beyond the medical field, wearable electrochemical biosensors also find application in the food & beverage industry.
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Technological advancement is a key goal for market players. With the help of ever-advancing technology, the effectiveness of monitoring is rising, thus also increasing the trust of consumers in the product.
As part of the healthcare industry, collaborations between market players and other healthcare companies are common. With the popularity of the product increasing, manufacturers of traditional biosensors are also entering the market. A few of the key companies in the wearable biosensor industry are Molex LLC, TDK Corporation, VitalConnect, Huawei Technologies, Robert Bosch GmbH, Panasonic Corporation, TE Connectivity, Texas Instruments Incorporated, Infineon Technologies AG, Zimmer & Peacock AS, Withings SA, Broadcom, Koninklijke Philips N.V.
Some recent developments in the market are :
- In January 2023, Intricon, a micromedical sensor-based device developer, launched the Biosensors Center of Excellence. This launch aims to exclusively focus on the development of next-generation medical biosensor devices.
- In May 2020, Phillips, a health technology company, launched a wearable biosensor that can detect signs of COVID-19 early, thus helping doctors get a head start on treatment. Moreover, the device can also keep an eye on step counts and detect falls.
Segmentation of Wearable Biosensor Market Research
- Wearable Electrochemical Biosensors
- Wearable Optical Biosensors
- Wearable Piezoelectric Biosensors
- Wearable Thermal Biosensors
- Healthcare & Medical
- Environmental Monitoring
- Military & Defense
- Food & Agriculture
- Sensor Patches
- Embedded Sensors
- North America
- Latin America
- East Asia
- South Asia & Oceania
- The Middle East & Africa
- FAQs -
What is the Widely Preferred Product in the Wearable Biosensor Market?
Wearable electrochemical biosensors are the leading product type in the market, with a market share of 23.7% in 2024.
What is the Sales Outlook for Wearable Biosensors in 2024?
The sales outlook for wearable biosensors is likely to be valued at US$ 31,648.8 million in 2024.
What is the Demand Forecast for Wearable Biosensors for the Decade?
Demand for wearable biosensors is expected to reach a market value of US$ 66,235.1 million by the end of 2034.
What is the Adoption Growth Projection for Wearable Biosensors?
The adoption of wearable biosensors is projected to rise at a CAGR of 7.7% through 2034.
What are Some Prominent Wearable Biosensor Companies?
Molex LLC, TDK Corporation, VitalConnect, and Huawei Technologies are some prominent wearable biosensor companies.