Market Insights Digital Digital Health Digital Treatment & Care

Connected Biosensors - Portugal

Portugal

The revenue in the market Connected Biosensors in Portugal is projected to reach US$46.01m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 3.31%, resulting in a projected market volume of US$54.14m by 2029.
The user penetration is estimated to be 3.99% in 2024 and is expected to increase to 4.23% by 2029.
The average revenue per user (ARPU) is projected to be US$112.80.
In global comparison, China is predicted to generate the most revenue in the Connected Biosensors, with US$4,493.00m in 2024.
Portugal is experiencing a growing demand for connected biometric sensors in the digital health market, driven by an increasing focus on remote patient monitoring and telemedicine services.

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

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Analyst Opinion

The Connected Biosensors market in Portugal is showing promising signs of growth and innovation.

Customer preferences: In Portugal, customers are increasingly leaning towards connected biosensors due to their convenience, accuracy, and ability to provide real-time health data. With a growing focus on preventive healthcare, individuals are turning to smart thermometers, smart blood glucose meters, smart blood pressure meters, and social alarms to monitor their health proactively.

Trends in the market: One notable trend in the Portuguese market is the integration of connected biosensors with smartphone applications. This allows users to easily track and analyze their health data, leading to better-informed decisions regarding their well-being. Moreover, the rising adoption of telehealth services in Portugal is further driving the demand for connected biosensors, as they enable remote monitoring and consultation with healthcare professionals.

Local special circumstances: Portugal's aging population is a significant factor influencing the growth of the connected biosensors market. As the elderly population increases, there is a greater need for continuous health monitoring, which connected biosensors can effectively provide. Additionally, the government's initiatives to promote digital health solutions and remote patient monitoring are creating a conducive environment for the expansion of the connected biosensors market in Portugal.

Underlying macroeconomic factors: The economic stability and increasing healthcare expenditure in Portugal are supporting the growth of the connected biosensors market. As disposable incomes rise and healthcare becomes more personalized, individuals are more willing to invest in innovative health monitoring devices. Furthermore, the advancements in technology and the presence of key market players offering a diverse range of connected biosensors are fueling market growth in Portugal.

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.