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Connected Biosensors - China

China
  • In 2024, the revenue in the market Connected Biosensors is projected to reach a substantial amount of US$4.49bn.
  • Looking ahead, the market is expected to exhibit a steady annual growth rate (CAGR 2024-2029) of 6.62%.
  • This growth trajectory is anticipated to result in a projected market volume of US$6.19bn by 2029.
  • When it comes to user penetration, it is estimated to be 3.96% in 2024 and is projected to increase to 4.18% by 2029.
  • This indicates a gradual expansion of the market's reach and adoption among users.
  • The average revenue per user (ARPU) is anticipated to amount to US$79.19.
  • This metric provides insights into the average amount of revenue generated per user in this market.
  • In global comparison, it is noteworthy that the majority of revenue in the Connected Biosensors is expected to be generated China.
  • Specifically, [globalrevenue_currentlayer_yeartoday_maxcountrynameprep] is projected to generate US$4.49bn in revenue in 2024.
  • As one of the leading players in this market, China's significant contribution to the revenue highlights its prominence and influence in the industry.
  • China's rapid advancements in digital health technology have positioned it as a global leader in the development and adoption of connected biometric sensors.

Definition:

Connected Biosensors are devices that collect information on a variety of health parameters and vital signs of an individual, such as blood pressure, temperature, and blood glucose, by reading or measuring this data and transmitting it via electrical signals. This market also includes social alarms as an example of ambient assisted living technologies, which are emerging technologies enabled by IoT, AI, sensors, and wireless communication technologies with the goal of helping elderly people live safely and independently in their environment.

Structure:

The Connected Biosensors market is divided into four categories: thermometers, blood glucose meters, blood pressure meters, and social alarms.

Additional Information:

The market data comprises revenue, average revenue per user, users, and user penetration rates. The data only reflects B2C revenues; B2B and C2C revenues are not covered.

In-Scope

  • Smart blood pressure meters
  • Smart thermometers
  • Smart glucose meters
  • Care phones/social alarm systems

Out-Of-Scope

  • Health tracking apps
  • Fitness wearables
  • Fitness apps
  • Motion trackers
  • Accelerometers/gyroscopes/medical alert devices
  • Fall detection technologies
  • AALT for social participation
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Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

    Most recent update: Jul 2024

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Connected Biosensors market in China is experiencing significant growth and evolution, driven by various factors shaping consumer preferences and market trends in the country.

    Customer preferences:
    Chinese consumers are increasingly prioritizing health and wellness, leading to a growing demand for connected biosensors that offer convenient and real-time health monitoring solutions. With a rising awareness of chronic diseases and the importance of preventive healthcare, individuals are turning to smart thermometers, blood glucose meters, blood pressure meters, and social alarms to track their health metrics proactively.

    Trends in the market:
    In China, the Connected Biosensors market is witnessing a trend towards integration with smart devices and digital platforms. Consumers are seeking interconnected solutions that allow seamless data sharing and analysis, enabling them to monitor their health status more effectively. Moreover, there is a shift towards more personalized and user-friendly designs in connected biosensors, catering to the preferences of tech-savvy Chinese consumers.

    Local special circumstances:
    China's large population, rapid urbanization, and increasing healthcare expenditure are contributing to the growth of the Connected Biosensors market in the country. The government's initiatives to promote digital health technologies and the rise of telemedicine services are also driving the adoption of connected biosensors among Chinese consumers. Furthermore, the competitive landscape in China, with both domestic and international players vying for market share, is fostering innovation and product development in the connected biosensors segment.

    Underlying macroeconomic factors:
    The economic growth and rising disposable income levels in China are enabling more consumers to invest in connected biosensors for personal health monitoring. Additionally, the country's aging population and the prevalence of chronic diseases are creating a strong market opportunity for connected biosensor manufacturers. As China continues to prioritize healthcare reform and digitalization, the Connected Biosensors market is poised for further expansion and technological advancements in the coming years.

    Users

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Jun 2024

    Source: Statista Market Insights

    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.

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    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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