Market Insights Digital Digital Health Digital Treatment & Care

Connected Biosensors - Americas

Americas

The revenue in the market Connected Biosensors in the Americas is projected to reach US$3.12bn in 2024.
This revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 3.97%, resulting in a projected market volume of US$3.79bn by 2029.
The user penetration rate is estimated to be 2.55% in 2024 and is anticipated to increase to 2.62% by 2029.
The average revenue per user (ARPU) is expected to be US$120.20.
In comparison to other countries, China is projected to generate the highest revenue of US$4,493.00m in 2024.
In the Americas, the adoption of connected biometric sensors in the digital health market is rapidly increasing, with Brazil leading the way in implementation and innovation.

Key regions: Italy, Germany, France, United Kingdom, India

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Analyst Opinion

The Connected Biosensors market in Americas is experiencing significant growth and innovation across various sub-markets such as smart thermometers, smart blood glucose meters, smart blood pressure meters, and social alarms.

Customer preferences: Customers in the Americas are increasingly leaning towards connected biosensors due to the convenience and real-time health monitoring they offer. The demand for smart devices that can provide accurate and instant health data is being driven by the growing awareness of personal health and wellness among consumers in the region.

Trends in the market: In the United States, the smart blood glucose meters segment is witnessing a surge in demand as more individuals are looking for convenient ways to monitor their blood sugar levels. The integration of these devices with smartphone apps for data tracking and analysis is a key trend driving market growth. Additionally, the smart thermometers market in Canada is experiencing a boost as families are adopting these devices for early fever detection, especially in children.

Local special circumstances: In Brazil, the social alarms sub-market is gaining traction due to the increasing elderly population and the need for remote monitoring solutions. The country's unique demographic shift towards an aging population is fueling the demand for social alarms that can provide instant assistance in case of emergencies.

Underlying macroeconomic factors: The overall growth of the Connected Biosensors market in the Americas can be attributed to factors such as technological advancements, increasing healthcare expenditure, and the rise of chronic diseases. As governments and healthcare providers focus on promoting preventive care and remote monitoring, the adoption of connected biosensors is expected to continue rising in the region.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenues and user data of relevant mobile applications and consumer electronics companies.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, internet penetration, smartphone penetration, consumer spending, and healthcare spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.