Market Insights Digital Digital Health Digital Treatment & Care

Connected Biosensors - Central & Western Europe

Central & Western Europe

The revenue in the market Connected Biosensors in Central & Western Europe is projected to reach US$1,516.00m in 2024.
The market is expected to show an annual growth rate (CAGR 2024-2029) of 3.78%, resulting in a projected market volume of US$1,825.00m by 2029.
The user penetration will be 3.47% in 2024 and is expected to reach 3.65% by 2029.
The average revenue per user (ARPU) is expected to amount to US$130.20.
In global comparison, the highest revenue will be generated China, with US$4,493.00m in 2024.
In Central & Western Europe, Germany leads the market in connected biometric sensors for digital health with its advanced healthcare infrastructure and focus on precision medicine.

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

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Analyst Opinion

The Connected Biosensors market in Central & Western Europe is experiencing a notable surge in demand and innovation, driven by a growing emphasis on health monitoring and technological advancements in the region.

Customer preferences: Customers in Central & Western Europe are increasingly inclined towards smart biosensors due to their convenience, accuracy, and ability to provide real-time health data. The ease of use and integration with smartphones or other devices are appealing features for tech-savvy consumers in this region.

Trends in the market: In countries like Germany and the UK, there is a rising trend towards smart thermometers for monitoring body temperature, especially in households with children or elderly individuals. Similarly, smart blood glucose meters are gaining popularity among individuals with diabetes in countries like France and Italy, as they offer a convenient way to track blood sugar levels.

Local special circumstances: Central & Western Europe has a well-established healthcare infrastructure and a high level of awareness regarding the importance of preventive healthcare. This has created a conducive environment for the adoption of connected biosensors, as consumers are increasingly proactive about monitoring their health and well-being.

Underlying macroeconomic factors: The overall economic stability in Central & Western Europe has enabled consumers to invest in healthcare technology, including connected biosensors. Additionally, the presence of major technology companies and research institutions in the region has facilitated the development of innovative biosensor technologies, driving market growth.

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.