Grand View Research: Health Sensors Market to Grow at 17% CAGR through 2025

The global health sensors market size was estimated at $20.5 billion in 2016. It is expected to expand at a CAGR of 17% over the forecast period. Increasing demand for home healthcare settings and rising geriatric population are among the key trends stoking market growth. Rising incidence of chronic disorders such as diabetes and obesity is expected to boost the market growth during the forecast period.



According to the WHO, in 2014, more than 1.9 billion adults were overweight, out of which, almost 600 million were obese. Between 1980 and 2014, prevalence of obesity has more than doubled. This can be attributed to the changing lifestyle of people.

Chronic illness and at risk monitoring dominated application segment, owing to increasing demand driven by burden of chronic diseases. Moreover, the sensor therapeutics and in-hospital clinical monitoring segment is expected to witness lucrative growth during the forecast period.

The North America health sensors market held more than 36% revenue share in 2016, owing to rise in geriatric population and number of people suffering from chronic disorders such as obesity. According to the World Obesity Federation, in 2014, there were about 18 million severely obese adults in U.S. This number is estimated to reach 25 million by 2025. Moreover, technological advancements in North America have led to development of more efficient health sensors.

In 2016, the wearable sensors segment dominated this market in terms of revenue. Key factors attributing to this expansion includes advanced features of wearables like their ability to monitor vital parameters such as blood pressure and heart rate. Moreover, these devices are highly accurate, durable, and reliable.

Demand for wearable sensor devices is anticipated to increase due to high prevalence of cardiovascular diseases, diabetes, and obesity. Data obtained from these products can be analyzed to predict risk of a heart attack, based on the recorded long-term vitals. Additionally, these devices send health updates and recommend exercise regimes to prevent occurrence of an acute episode.

The implantable/ingestible segment is anticipated to grow at a CAGR of 17.5% over the forecast period. Many companies are collaborating with others to initiate Research and Development (R&D) activities. For instance, respiratory health management company Propeller Health collaborated with Novartis in Feb 2017, to place a sensor on Novartis’ Breezhaler inhaler. This device will record, provide reports on connected apps regarding the amount of drug inhaled, and compute medication adherence and compliance. Collaboration like this, are anticipated to propel growth of the ingestible/implantable segment over the forecast period.

Health sensors are classified on the basis of application into wellness monitoring, chronic illness and at risk-monitoring, patient admission triage, logistical tracking, in hospital clinical monitoring, sensor therapeutics, and post-acute care monitoring. The chronic illness and at-risk monitoring segment held the largest market share in 2016 and is expected to maintain dominance over the forecast period. This is attributed to rising prevalence of diseases and demand for point-of-care testing.



Wellness monitoring is anticipated to grow at a CAGR of over 27% from 2017 to 2025. Wellness monitoring involves digital monitoring and tracking healthcare indicators using smart devices such as Fitbit products and Apple Watch.Fitbit plans on applying for the U.S. Food and Drug Administration (FDA) approval for its Ionic Smartwatch. Following the approval, this product is expected to be used for initial screening of atrial fibrillation. Several cancer research institutes are likely to utilize various data points obtained from Fitbit devices for patient monitoring.Due to increasing applications and innovations in wellness monitoring devices, their demand is expected to rise over the forecast period.