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Global Photoplethysmography (PPG) Biosensors Market to reach USD 1013.03 million by the end of 2030

Global Photoplethysmography (PPG) Biosensors Market Size study & Forecast, by Product (Smart Watches, Pulse Oximeters, Smart Wrist Bands, Others), by Application (Heart Rate Monitoring, Blood-oxygen Saturation, Blood Pressure, Others), by Distribution (Pharmacies, Electronic Stores, E-commerce, Others) and Regional Analysis, 2023-2030

Product Code: HLSMDE-34367099
Publish Date: 5-12-2023
Page: 200

Global Photoplethysmography (PPG) Biosensors Market is valued at approximately USD 445.97 million in 2022 and is anticipated to grow with a healthy growth rate of more than 10.8% over the forecast period 2023-2030. Photoplethysmography (PPG) is a non-invasive optical technique used to detect blood volume changes in the microvascular bed of tissue. PPG biosensors are devices that use this technique to measure various physiological parameters, primarily through the analysis of the pulsatile component of the PPG signal. These sensors are commonly used in medical and wearable technology applications for monitoring heart rate, blood oxygen saturation, and other vital signs. The Photoplethysmography (PPG) Biosensors market is expanding because of factors such as rising prevalence of cardiovascular diseases and rising demand for smart wearables. As a result, the demand of Photoplethysmography (PPG) Biosensors has progressively increased in the international market during the forecast period 2023-2030.

The increasing prevalence of cardiovascular diseases drives research into new diagnostic and monitoring tools. PPG technology is continually evolving, and researchers are working on improving its accuracy and expanding its capabilities. As the understanding of cardiovascular diseases deepens, PPG biosensors become more sophisticated and specialized for specific cardiovascular related applications. According to the American Heart Association, cardiovascular diseases are projected around 17.3 million deaths globally every year. And the cases are estimated to rise about 23.6 million by 2030. Furthermore, as per the CDC report of October 2022, coronary heart disease is recorded as the most common form of heart disease, and nearly 20.1 million adults aged 20 and over have coronary artery disease approximately 7.2%. Another important factor drives the Photoplethysmography Biosensors market is increasing demand for smart wearables. Smart wearables have become popular tools for tracking users’ health and fitness. PPG biosensors play a crucial role in these devices by providing data on heart rate and SpO2, which is essential for activities like tracking workouts, monitoring sleep patterns, and assessing overall health. In addition, as per Statista, global end-user spending on wearable device accounts USD 81.5 billion in 2021, and reached up to USD 90 billion in 2022. Moreover, growing geriatric population and technological advancements in photoplethysmography (ppg) biosensors is anticipated to create a lucrative growth opportunity for the market over the forecast period. However, the high cost of Photoplethysmography (PPG) Biosensors and disadvantages over ECG sensors is going to impede overall market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Photoplethysmography (PPG) Biosensors Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rising prevalence of CVD and rising penetration of innovative cardiovascular technologies and sophisticated healthcare facilities in the region. The region’s dominant performance is anticipated to propel the overall demand of Photoplethysmography (PPG) Biosensors. Furthermore, Asia Pacific is expected to grow fastest during the forecast period, owing to factors such as rising penetration of smartwatches in the region. The integration of PPG biosensors in smartwatches has led to a growing demand for these sensors. Smartwatches have become one of the primary platforms for health and fitness monitoring, and PPG sensors are a key component for tracking vital signs such as heart rate and blood oxygen levels.

Major market player included in this report are:

Fitbit, Inc
Apple Inc
Texas Instruments Incorporated
LifeQ Inc
Murata Manufacturing Co., Ltd
Silicon Laboratories Inc.
MediaTek Inc.
Maxim Integrated Products, Inc
Valencell, Inc
edNet GmbH
Recent Developments in the Market:

Ø In January 2023, Epicore Biosystems, a digital health company has developed an advanced sweat-sensing wearables to provide real-time personalised hydration insights for performance and safety, announced that its new Connected Hydration sweat patch and mobile app unveiled at the 2023 Consumer Electronics Show (CES) in Las Vegas. Connected Hydration, the first wearable to continuously measure sweat fluid and electrolyte losses while monitoring skin temperature and movement, is designed for industrial athletes working in labor-intensive industries such as energy, clean tech, construction, mining, utilities, agriculture, trucking, warehouse packaging, and more. Connected Hydration warns wearers when their fluid loss reaches 2% of body weight via real-time alarms and vibrations aboard the device, preventing dehydration.

Global Photoplethysmography (PPG) Biosensors Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product, Application, Distribution Channel, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Smart Watches
Pulse Oximeters
Smart Wrist Bands

By Application:
Heart Rate Monitoring
Blood-oxygen Saturation
Blood Pressure

By Distribution Channel
Electronic Stores

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Million)
1.2.1. Photoplethysmography (PPG) Biosensors Market, by Region, 2020-2030 (USD Million)
1.2.2. Photoplethysmography (PPG) Biosensors Market, by Product, 2020-2030 (USD Million)
1.2.3. Photoplethysmography (PPG) Biosensors Market, by Application, 2020-2030 (USD Million)
1.2.4. Photoplethysmography (PPG) Biosensors Market, by Distribution Channel, 2020-2030 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Photoplethysmography (PPG) Biosensors Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Photoplethysmography (PPG) Biosensors Market Dynamics
3.1. Photoplethysmography (PPG) Biosensors Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing prevalence of cardiovascular diseases Rising demand for smart wearables
3.1.2. Market Challenges High cost of Photoplethysmography (PPG) Biosensors Disadvantages over ECG sensors
3.1.3. Market Opportunities Growing geriatric population Technological advancements in photoplethysmography biosensors
Chapter 4. Global Photoplethysmography (PPG) Biosensors Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Photoplethysmography (PPG) Biosensors Market, by Product
5.1. Market Snapshot
5.2. Global Photoplethysmography (PPG) Biosensors Market by Product, Performance – Potential Analysis
5.3. Global Photoplethysmography (PPG) Biosensors Market Estimates & Forecasts by Product 2020-2030 (USD Million)
5.4. Photoplethysmography (PPG) Biosensors Market, Sub Segment Analysis
5.4.1. Smart Watches
5.4.2. Pulse Oximeters
5.4.3. Smart Wrist Bands
5.4.4. Others
Chapter 6. Global Photoplethysmography (PPG) Biosensors Market, by Application
6.1. Market Snapshot
6.2. Global Photoplethysmography (PPG) Biosensors Market by Application, Performance – Potential Analysis
6.3. Global Photoplethysmography (PPG) Biosensors Market Estimates & Forecasts by Application 2020-2030 (USD Million)
6.4. Photoplethysmography (PPG) Biosensors Market, Sub Segment Analysis
6.4.1. Heart Rate Monitoring
6.4.2. Blood-oxygen Saturation
6.4.3. Blood Pressure
6.4.4. Others
Chapter 7. Global Photoplethysmography (PPG) Biosensors Market, by Distribution Channel
7.1. Market Snapshot
7.2. Global Photoplethysmography (PPG) Biosensors Market by Distribution Channel, Performance – Potential Analysis
7.3. Global Photoplethysmography (PPG) Biosensors Market Estimates & Forecasts by Distribution Channel 2020-2030 (USD Million)
7.4. Photoplethysmography (PPG) Biosensors Market, Sub Segment Analysis
7.4.1. Pharmacies
7.4.2. Electronic Stores
7.4.3. E-commerce
7.4.4. Others
Chapter 8. Global Photoplethysmography (PPG) Biosensors Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Photoplethysmography (PPG) Biosensors Market, Regional Market Snapshot
8.4. North America Photoplethysmography (PPG) Biosensors Market
8.4.1. U.S. Photoplethysmography (PPG) Biosensors Market Product breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030 Distribution Channel breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Photoplethysmography (PPG) Biosensors Market
8.5. Europe Photoplethysmography (PPG) Biosensors Market Snapshot
8.5.1. U.K. Photoplethysmography (PPG) Biosensors Market
8.5.2. Germany Photoplethysmography (PPG) Biosensors Market
8.5.3. France Photoplethysmography (PPG) Biosensors Market
8.5.4. Spain Photoplethysmography (PPG) Biosensors Market
8.5.5. Italy Photoplethysmography (PPG) Biosensors Market
8.5.6. Rest of Europe Photoplethysmography (PPG) Biosensors Market
8.6. Asia-Pacific Photoplethysmography (PPG) Biosensors Market Snapshot
8.6.1. China Photoplethysmography (PPG) Biosensors Market
8.6.2. India Photoplethysmography (PPG) Biosensors Market
8.6.3. Japan Photoplethysmography (PPG) Biosensors Market
8.6.4. Australia Photoplethysmography (PPG) Biosensors Market
8.6.5. South Korea Photoplethysmography (PPG) Biosensors Market
8.6.6. Rest of Asia Pacific Photoplethysmography (PPG) Biosensors Market
8.7. Latin America Photoplethysmography (PPG) Biosensors Market Snapshot
8.7.1. Brazil Photoplethysmography (PPG) Biosensors Market
8.7.2. Mexico Photoplethysmography (PPG) Biosensors Market
8.8. Middle East & Africa Photoplethysmography (PPG) Biosensors Market
8.8.1. Saudi Arabia Photoplethysmography (PPG) Biosensors Market
8.8.2. South Africa Photoplethysmography (PPG) Biosensors Market
8.8.3. Rest of Middle East & Africa Photoplethysmography (PPG) Biosensors Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Fitbit, Inc Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Apple Inc
9.3.3. Texas Instruments Incorporated
9.3.4. LifeQ Inc
9.3.5. Murata Manufacturing Co., Ltd
9.3.6. Silicon Laboratories Inc.
9.3.7. MediaTek Inc.
9.3.8. Maxim Integrated Products, Inc
9.3.9. Valencell, Inc
9.3.10. edNet GmbH
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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