Photoplethysmography (PPG) Biosensors Market Analysis

Photoplethysmography Biosensors Market Analysis

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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.