Photoplethysmography (PPG) Biosensors Market Size - By Product (Pulse Oximeters, Smart Watches, Smart Wrist Bands), By Application (Heart Rate Monitoring, Blood-oxygen Saturation, Blood Pressure) – Global Forecast to 2032

Photoplethysmography Biosensors Market Size

Photoplethysmography Biosensors Market size was valued at USD 423.1 million in 2022 and is projected to reach at USD 1.2 billion by 2032. Photoplethysmography (PPG) biosensors are devices that utilize the technique of photoplethysmography to measure changes in blood volume in peripheral blood vessels.
 

PPG is a non-invasive optical method that provides information about the pulsatile component of blood flow. It involves illuminating the skin with a light source, usually a light-emitting diode (LED), and detecting the reflected or transmitted light using a photodetector. Moreover, advancements in sensor technology, miniaturization and low-power electronics have contributed to the development of PPG biosensors. These advancements have led to the integration of PPG sensors into smaller, wearable medical devices that offer improved accuracy, reliability, and battery life.
 

Furthermore, the market is primarily anticipated to increase due to the rising prevalence of cardiovascular diseases (CVD). For instance, in 2022, according to the Centers for Disease Control and Prevention (CDC), approximately 699,659 deaths occurred due to CVD in the U.S. Thus, the combination of this technique with technological advancements appears to proportionately increase the speed of cardiopathies' detection, improve medical care through remote patient monitoring and control and thereby reducing the number of CVD-related deaths. In addition, compared to electrocardiogram (ECG) sensors, PPG is a non-invasive, affordable method that can measure the signal at a variety of locations, including the fingers, toes, ears, wrists, chest, and heads.
 

COVID-19 Impact

The COVID-19 pandemic significantly impacted the healthcare industry, including the field of PPG biosensors. With the need to minimize in-person interactions and reduce the strain on healthcare systems, there was a growing demand for remote patient monitoring solutions, including remote cardiac monitoring, among others. PPG biosensors, particularly those integrated into wearable devices such as smartwatches and fitness trackers, became valuable tools for vital signs monitoring, remotely during COVID-19. They allow individuals to track their heart rate, blood oxygen saturation, and other cardiovascular parameters from the comfort of their homes, allowing early detection of potential COVID-19 symptoms or monitoring of patients with existing health conditions.
 

Photoplethysmography Biosensors Market Trends

Smart wearables with PPG biosensors offer users the ability to monitor their heart rate, blood oxygen saturation, and other vital signs continuously. This real-time monitoring allows individuals to track their health and fitness levels, optimize their workout, and make informed decisions about their well-being. Additionally, PPG-based wearables provide valuable insights into heart rate variability, sleep patterns, stress levels, and exercise performance, empowering users to take control of their health and make positive lifestyle changes.
 

Moreover, the rise of telemedicine and remote patient monitoring further enhanced the demand for smart wearables with PPG biosensors. Remote monitoring using PPG wearables is particularly beneficial for patients with chronic conditions, allowing early detection of anomalies, timely intervention, and improved disease management.
 

Photoplethysmography Biosensors Market Analysis

Based on product, the PPG biosensors market is segmented into pulse oximeters, smart watches, smart wrist bands and others. The smart watches segment witnessed the largest revenue size of USD 170.3 million in 2022. PPG biosensors are extensively used in smartwatches to track user medical conditions during sleep, sports, and daily activities. The Consumer Technology Association estimates that 20.1 million smartwatches were sold in the U.S. in 2021. The bulk of these items includes the Fitbit, Apple Watch, Garmin, and numerous other smartwatches, that contain photoplethysmography-based heart rate monitors.
 

Based on application photoplethysmography biosensors market is bifurcated into heart rate monitoring, blood-oxygen saturation, blood pressure and others. The heart rate monitoring segment is anticipated to witness USD 459.4 million by 2032. PPG biosensors are widely used in smart wearables with heart rate monitor. Cardiovascular diseases are prevalent across various nations. For instance, in 2022, according to the American Heart Association (AHA), more than 122 million adults suffered from cardiovascular diseases in the U.S, that included conditions such as coronary artery disease, heart failure, and stroke. Additionally, the adoption of health monitoring devices including those incorporating PPG biosensors plays a crucial role in empowering individuals to actively manage their cardiovascular health and reduce the burden of cardiovascular diseases.
  

U.S. photoplethysmography biosensors market accounted for USD 143.9 million in 2022. Growing adoption of wearable health monitoring devices across the nation is one of the major factors accelerating business demand. Moreover, increasing prevalence of chronic disease ailments such as cardiovascular diseases, diabetes, and respiratory disorders has led to higher adoption of PPG biosensors based medical devices for early detection and disease management with real time data access and vital signs monitoring. Furthermore, strong presence of leading industry players in the country involved in development of innovative products with advanced technologies will boost customer preference.
 

Photoplethysmography Biosensors Market Share

Some of the notable key market participants operating in the photoplethysmography biosensors market include

• Apple Inc
• Fitbit Inc
• Samsung Electronics Co., Ltd.
• Garmin Ltd
• Xiaomi Corporation
• Omron Healthcare, Inc.
• Valencell. Inc
• Mediatek
• Masimo Corporation
• Empatica Inc
   

Photoplethysmography Biosensors Industry News:

• In August 2020, Valencell introduced the world's first calibration-free blood pressure (BP) sensor technology for use in wearables as well as worn on the finger and wrist. PPG and inertial sensors are used in this technology. Development of such technologies help companies in sustaining their market position as well as gain competitive edge over others in the market.
   

PPG biosensors market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

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By Product (USD Million)

• Pulse oximeters
• Smart watches
• Smart wrist bands
• Others

By Application (USD Million)

• Heart rate monitoring
• Blood-oxygen saturation
• Blood pressure
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Poland
  • Switzerland
  • Norway
  • Finland
  • Sweden
  • Denmark
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Taiwan
  • Indonesia
  • Vietnam
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Israel