The North America PPG Biosensors Market would witness market growth of 11.4% CAGR during the forecast period (2021-2027).
PPG or Photoplethysmography is defined as a reasonable & simple technique to check heart rate etc in comparison to the ECG biosensors and also it is easily fixed on various body parts like a finger, ear, toe, chest, wrist, and head for evaluating the signal. This non-invasive PPG technique for calculating the SpO2 and HR is broadly utilized in personal handheld gadgets and clinical pulse oximetry owing to its ease and capability to carry out regular readings. PPG biosensors are compact, low-cost devices with some basic applications, which are also non-invasive and relevant in a wide range of settings. The development of signal processing algorithms makes it highly strong, which further contributes to the development of the PPG technology. Thus, due to various benefits provided by PPG, the demand for PPG biosensors will increase and it is estimated to spur the growth of the market.
The growing prevalence of cardiovascular diseases is projected to fuel the growth of the PPG biosensors market during the forecast period. For example, as per the American Heart Association, approx. 48.0% of adults in the U.S. have some kind of cardiovascular disease, and 45.1% of the U.S population is expected to have cardiovascular diseases by 2035. Thus, the usage of the PPG technique with more advancements can help in the detection of cardiopathies more quickly, improve medical treatment with distant control & monitoring of the patient in healthcare surroundings, which further decreases the number of death cases registered due to cardiovascular diseases.
The outbreak of the global pandemic has affected all the sectors of the business world. The imposition of various regulations and restrictions to contain the spread of the virus has resulted in a disrupted supply chain across the globe. The temporary travel bans and lockdown in various parts of the world have adversely affected the global market. However, the pandemic has shown the importance of being healthy.
Due to the pandemic, many people understood the importance of regular monitoring of themselves, especially the covid-19 patients and people having chronic diseases. So, there is an increasing demand for these PPG biosensors due to the rising demand for smart devices & oximeters in the pandemic. Hence, the PPG biosensors market would exhibit significant growth during the forecast period.
As per the World Health Organization (WHO), cardiovascular diseases are one of the main cause of death across the world, with almost 30 million people, who are suffering from a heart attack or stroke every year. In addition, the American Heart Association stated that almost half of the population in the United States are suffering from any kind of cardiovascular disease. This factor creates more lucrative opportunities for the PPG biosensor manufacturers to boost their growth in the North America region.
The high adoption of wearable healthcare devices in this region along with the rising prevalence of cardiovascular diseases is contributing to the increased regional growth rate of the PPG biosensors market. This region will also witness increasing demand for PPG biosensors during the forecast period.
The US market dominated the North America Pulse Oximeters Market by Country in 2020, thereby, achieving a market value of $56,721.9 Thousands by 2027. The Canada market is experiencing a CAGR of 14.3% during (2021-2027). Additionally, The Mexico market would witness a CAGR of 13.3% during (2021-2027).
Based on Product, the market is segmented into Smart Watches, Pulse Oximeters, Smart Wrist Bands and Other Products. Based on Application, the market is segmented into Heart Rate Monitoring, Blood Pressure, Blood-oxygen Saturation and Other Applications. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global PPG Biosensors Market is Estimated to Reach USD 759.3 Million by 2027 at a CAGR of 12.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Texas Instruments, Inc., Vishay Intertechnology, Inc.., Renesas Electronics Corporation, AMS AG, Murata Manufacturing Co., Ltd., MediaTek, Inc., Maxim Integrated Products, Inc., Silicon Laboratories, Inc., Valencell, Inc., and LifeQ.
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