Global Photoplethysmography (PPG) Biosensors Market, By Product Type (Smart Watches, Pulse Oximeters, Smart Wrist Bands, and Others), By Application (Heart Rate Monitoring, Blood-oxygen Saturation, Blood Pressure, and Others), By Distribution Channel (Pharmacies, Electronic Stores, E-commerce, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 402.5 million in 2021, and is expected to exhibit a CAGR of 10.8% during the forecast period (2021-2028).
Rising number of product approvals and launches is expected to drive growth of the global photoplethysmography (PPG) biosensors market during the forecast period. For instance, on February 04, 2021, Google Health announced a new wellness feature for its Google Fit mobile app that will use machine learning to provide users with heart rate and respiratory rate readings using only their smartphone's camera. According to Google Health, the two tools will be available for all Pixel devices and will be available for additional Android devices. The user focuses the camera on their fingertip for the heart rate feature. The tool detects heartbeats using photoplethysmography (PPG), a technique in which minor changes in the optical color of the blood corresponds to volume changes.
Market players and non-profit organizations are focused on initiatives related to heart diseases, which is expected to propel the growth of the global photoplethysmography (PPG) biosensors market during the forecast period. For instance, on May 18, 2021, the American Heart Association, the world's leading nonprofit organization dedicated to heart and brain health, and Abbott Laboratories, a global healthcare company, announced a new multi-year initiative to reduce high blood pressure and chronic diseases in underrepresented Austin communities. The initiative was made possible by a generous financial contribution from Abbott who will support three federally qualified healthcare clinical systems (FQHCs) in central Texas, and provide educational resources, support, and self-monitoring devices to high-risk hypertensive and diabetic patients to help them manage their blood pressure, glucose levels, and health behaviors.
Global Photoplethysmography (PPG) Biosensors market- Impact of Coronavirus (COVID – 19) Pandemic
The COVID-19 pandemic has affected several markets across the globe, and is also expected to hamper the global photoplethysmography (PPG) biosensors market. The COVID-19 pandemic has affected the demand and supply of healthcare products in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and due to its financial impact on firms and financial markets.
However, the increasing use of pulse oximeter in the COVID-19 pandemic may help to drive the growth of global photoplethysmography (PPG) biosensors market. For instance, according to an article published in the Chest journal in February 2021, a study was conducted by professors of University of California San Diego who stated that monitoring pulse oximetry is critical in the management of pulmonary diseases, particularly during pandemics or epidemics of respiratory viral infections such as COVID-19 and influenza. Photoplethysmography (PPG) equipped smartphones with sensors and apps have the potential to significantly improve remote monitoring due to their ubiquity and the fact that they do not require patients to have additional expensive gadgets.
Browse 33 Market Data Tables and 25 Figures spread through 167 Pages and in-depth TOC on Global Photoplethysmography (PPG) Biosensors Market, By Product Type (Smart Watches, Pulse Oximeters, Smart Wrist Bands, and Others), By Application (Heart Rate Monitoring, Blood-oxygen Saturation, Blood Pressure, and Others), By Distribution Channel (Pharmacies, Electronic Stores, E-commerce, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global photoplethysmography (PPG) biosensors market, click the link below:
https://www.coherentmarketinsights.com/market-insight/photoplethysmography-biosensors-market-4640
Key Takeaways of the Global Photoplethysmography (PPG) Biosensors Market:
- The global photoplethysmography (PPG) biosensors market is expected to exhibit a CAGR of 10.8% over the forecast period (2021-2028). North America is expected to account for major market share over the forecast period (2021-2028), owing to rising acquisitions and contract agreements within the market players. For instance, June 29, 2020, B-SECUR, an innovator in EKG/ECG technology, announced a collaboration with LifeQ, a leading provider of biometrics and health data derived from wearable devices based in Georgia, to develop superior heartbeat biometric and health monitoring capabilities for wearables. The agreement states that B-Secur's Electrocardiogram (EKG/ECG) technology will be integrated with LifeQ's optical PPG (photoplethysmography) technology to enable advanced identification, wellness, and health monitoring features in the next generation of everyday devices.
- Some of the major players operating in the global photoplethysmography (PPG) biosensors market include MedNet GmbH, Valencell Inc., Maxim Integrated, MediaTek Inc., Silicon Laboratories Inc., Murata Manufacturing Co. Ltd., LifeQ Inc., Texas Instruments Inc., Fitbit, Inc. and Apple Inc.
