Market Insights Digital Digital Health Digital Treatment & Care

Connected Biosensors - Southern Europe

Southern Europe

In Southern Europe, the market Connected Biosensors is projected to achieve a revenue of US$841.00m by 2024.
It is expected to display a steady annual growth rate (CAGR 2024-2029) of 3.75%, resulting in a projected market volume of US$1,011.00m by 2029.
The user penetration rate is anticipated to be 3.44% in 2024 and is set to increase to 3.61% by 2029.
The average revenue per user (ARPU) is projected to be US$103.40.
In terms of global comparison, China is expected to generate the highest revenue, reaching US$4,493.00m in 2024.
In Southern Europe, the demand for connected biometric sensors in the digital health market is steadily increasing due to the region's strong focus on healthcare innovation and technological advancements.

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

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Analyst Opinion

The Connected Biosensors market in Southern Europe is experiencing a surge in demand and innovation, driven by the increasing adoption of digital health solutions in the region.

Customer preferences: Customers in Southern Europe are showing a growing preference for connected biosensors due to their convenience, accuracy, and ability to provide real-time health data. Smart thermometers are gaining popularity among tech-savvy consumers for monitoring fever and illness at home. Smart blood glucose meters are appealing to individuals with diabetes for easy tracking of blood sugar levels. Smart blood pressure meters are being embraced by health-conscious individuals for monitoring heart health. Social alarms are becoming essential for the elderly population and individuals with specific health conditions to quickly seek assistance in case of emergencies.

Trends in the market: In Southern Europe, there is a noticeable trend towards the integration of connected biosensors with mobile applications and cloud platforms, allowing users to store, track, and analyze their health data seamlessly. Italy, Spain, and Greece are witnessing a rise in telehealth services that incorporate connected biosensors for remote patient monitoring and virtual consultations. Portugal is seeing an increase in the use of smart biosensors in home care settings to improve the quality of life for patients with chronic illnesses. Additionally, there is a growing emphasis on data security and privacy compliance to address concerns related to the collection and sharing of personal health information.

Local special circumstances: Southern Europe has a rapidly aging population, leading to a higher prevalence of chronic diseases and a greater need for continuous health monitoring. This demographic shift is driving the demand for connected biosensors that enable remote monitoring and early detection of health issues. Furthermore, the region's strong cultural emphasis on family ties and caregiving is influencing the adoption of social alarms as a way to ensure the safety and well-being of elderly family members living alone.

Underlying macroeconomic factors: The Southern European market for connected biosensors is also influenced by macroeconomic factors such as government healthcare policies, reimbursement schemes, and technological infrastructure. Countries like Spain and Italy are investing in digital health initiatives to modernize their healthcare systems and improve access to medical services. Economic challenges in the region are prompting healthcare providers to explore cost-effective solutions like connected biosensors to enhance patient care and optimize healthcare resources. The increasing collaboration between technology companies, healthcare providers, and regulatory bodies is driving the development and commercialization of innovative connected biosensors in Southern Europe.

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.