The Asia Pacific PPG Biosensors Market would witness market growth of 13.6% CAGR during the forecast period (2021-2027).
The rising adoption of wearable healthcare systems in emerging nations is anticipated to fuel the growth of the market. Many wearable healthcare devices like smart bands, smartwatches, pulse oximeters, and others are embedded with optical sensors to offer the real-time monitoring of patient health. For example, the Realme watch offers wide-ranging healthcare features that include top-level PPG heart rate and blood-oxygen-level (SpO2) sensors. In addition, smart rings are comparatively new, though, Oura Ring implemented with Infrared PPG biosensors for heart rate & respiration, is fuelling the growth of the market. These biosensors offer several benefits like high accuracy, small scale, and less or no sensitivity to electromagnetic radiation that make them appropriate for usage in medical-grade wearable gadgets.
The fluctuations in the blood flow flowing via the wrist help in monitoring the peripheral pulse by utilizing light beams and light-sensitive biosensors into the smartwatch to generate a PPG that is used to check the heart rate. Moreover, many industry players are undergoing several technological improvements to propel the development of smartwatches as their development needs continuous R&D for adding new features. These smartwatches are embedded with PPG bio-tracking optical sensors, which continuously keep track of the heart rate of the user.
There is a growing demand for the wearables like smartwatches, bands, or rings in developing countries like India, Japan, and China. This surging demand for wearables would bolster the regional growth of the PPG biosensors market. In addition, the rising cases of people suffering from cardiovascular diseases will also positively impact the regional market.
People in this region are getting more aware of keeping track of their health, especially the people who are suffering from heart-related diseases. Along with this, the fashion trend of adding smart wearable devices to an outfit during any sports activities or other will also augment the growth of the regional market of PPG biosensors.
The Smart Watches market dominated the Malaysia PPG Biosensors Market by Product in 2020, thereby, achieving a market value of $3,824 Thousands by 2027. The Pulse Oximeters market is showcasing a CAGR of 15.6% 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 China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide PPG Biosensors Market is Projected 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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