Connected Biosensors - Argentina

Argentina

Highlights

In Argentina, the market of Connected Biosensors is expected to experience significant growth in the coming years.
By 2024, the projected revenue is estimated to reach US$89.52m.
This upward trend is anticipated to continue with an annual growth rate (CAGR 2024-2029) of 3.92%, resulting in a projected market volume of US$108.50m by 2029.
Furthermore, user penetration is expected to increase from 2.35% in 2024 to 2.41% by 2029, indicating an expanding adoption of connected biometric sensors among the population.
The average revenue per user (ARPU) is forecasted to amount to US$82.83, highlighting the potential profitability of this market.
In a global comparison, China is projected to generate the highest revenue in the Connected Biosensors.
In 2024, China's revenue is expected to reach a staggering US$4.49bn, indicating its dominant position in this industry.
Argentina is experiencing a growing demand for connected biometric sensors in the digital health market, driven by increasing government initiatives and a rising awareness of the importance of remote patient monitoring.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Connected Biosensors market in Argentina is experiencing significant growth and development across various segments including smart thermometers, smart blood glucose meters, smart blood pressure meters, and social alarms.

Customer preferences: Argentinian consumers are increasingly prioritizing health and wellness, leading to a growing demand for connected biosensors that provide real-time health monitoring and data tracking capabilities. This shift towards proactive healthcare management is driving the adoption of smart devices that offer convenience and personalized insights into individual health metrics.

Trends in the market: In Argentina, there is a noticeable trend towards the integration of connected biosensors with mobile applications and wearable technology. This allows users to easily access and interpret their health data on-the-go, facilitating better decision-making regarding their well-being. Additionally, the emphasis on preventive healthcare measures is fueling the popularity of smart biosensors that can detect early signs of health issues.

Local special circumstances: One of the key factors influencing the Connected Biosensors market in Argentina is the increasing prevalence of chronic diseases such as diabetes and hypertension. This has created a heightened awareness among the population about the importance of continuous health monitoring, leading to a surge in the adoption of smart blood glucose meters and blood pressure monitors. Moreover, the presence of a tech-savvy consumer base in urban areas is driving the demand for innovative connected biosensors that offer advanced features and seamless connectivity.

Underlying macroeconomic factors: The economic landscape in Argentina plays a significant role in shaping the Connected Biosensors market. Despite facing challenges such as inflation and currency fluctuations, the healthcare sector continues to attract investments in digital health solutions. The government's initiatives to promote telemedicine and remote patient monitoring further support the growth of the connected biosensors market by creating a conducive environment for technological advancements in healthcare. Additionally, the increasing penetration of smartphones and internet connectivity in the country is expanding the potential consumer base for connected biosensors, driving market expansion and innovation.

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.