WASHINGTON, May 03, 2023 (GLOBE NEWSWIRE) -- Global Accelerometer Medical Sensors Market is valued at USD 3.7 Billion in 2022 and is projected to reach a value of USD 8.9 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 13.5% over the forecast period 2023-2030.
Market Overview
The rising incidence of chronic diseases and the rise in older adults are the main drivers of market expansion. Additionally, as people's awareness of their health has grown, so has the desire for low-cost, simple-to-use home-based Accelerometer Medical Sensors. Furthermore, the number of people who record and track information about their health practices is anticipated to increase during the projection period.
We forecast that the wearable category in Accelerometer Medical Sensors market sales will account for more than 65% of the market share by 2030. It is now feasible to measure and track a person's movements and physiological activities thanks to medical sensors with wearable accelerometers. It is possible to attach medical sensors with wearable accelerometers to the body, as well as to items of footwear, apparel, headgear, and wristbands.
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Market Dynamics
Growing Demand for Remote Patient Monitoring will Support Market Expansion
One of the key factors driving the market for Accelerometer Medical Sensors is the increase in demand for remote patient monitoring (RPM). In RPM devices, accelerometer sensors are frequently employed to monitor patients and transmit real-time data to healthcare professionals remotely. RPM has several benefits over conventional healthcare delivery methods, including better patient outcomes, lower healthcare expenditures, and more patient convenience. Accelerometer sensors can track a patient's physical activity levels, gait analysis, and fall detection, among other aspects of their health. These sensors are generally found in patients' wearable medical equipment, such as smartwatches or fitness trackers. Healthcare providers can obtain the data that the sensors have collected by accessing it via a cloud-based platform. Furthermore, patients with chronic diseases who require ongoing monitoring and management benefit most from accelerometer sensors.
Rapid Advancements in Sensor Technology to Boost Market Expansion
Advances in sensor technology primarily drive the accelerometer medical sensor market. Nanotechnology and micro-electromechanical systems (MEMS) are examples of advanced sensor technologies that have been developed. They have made building more precise, smart, and compact sensors possible. These sensors are ideal for use in medical equipment because they can measure a wider range of characteristics and deliver more accurate and reliable data. Moreover, the development of tiny, low-power sensors that may be included in wearable technology has been made possible through MEMS technology, which involves shrinking mechanical and electrical components. These sensors are widely used in medical devices for tracking patient activity, spotting falls, and diagnosing medical conditions. They can measure various parameters, including acceleration, velocity, and orientation.
Top Players in the Global Accelerometer Medical Sensors Market
- Koninklijke Philips N.V. (Netherlands)
- Analog Devices Inc. (U.S.)
- Fit bit Inc. (U.S.)
- Garmin (U.S.)
- BMC Medicals (India)
- Resmed (U.S.)
- Somno Medics (Germany)
- Compumedics (Australia)
- Cleveland (U.S.)
- Matrix Care (U.S.)
- Nox Medicals (U.S.)
- Actigraph (U.S.)
- Aetna Inc. (U.S.)
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Top Trends in Global Accelerometer Medical Sensors Market
- One trend that Vantage Market Research (VMR) expects to see in the Accelerometer Medical Sensors industry is a rise in chronic illnesses. Globally, the prevalence of chronic conditions like diabetes, cardiovascular disease, and respiratory disease is rising. Accelerometer sensors are being utilized in medical devices more frequently to monitor patients with chronic illnesses, giving healthcare professionals useful information and facilitating improved disease management.
- Another trend that VMR predicts will continue in the Accelerometer Medical Sensors industry is the rising older population. Older people are more vulnerable to chronic illnesses, accidents, and other health problems as the world's population ages. Accelerometer sensors are being used to track senior citizens' activity levels and mobility, assisting in the early detection of potential health issues.
Top Report Findings
- The Wearable category controls most of the Accelerometer Medical Sensors market's revenue based on Product. Many health indicators, including blood pressure, pulse, calorie intake, heart rate, and others, are tracked, monitored, and recorded using wearable sensors. The demand for these devices is thus expected to rise during the projected period due to the numerous advantages of wearable Accelerometer Medical Sensors.
- Based on the Application, most of the Accelerometer Medical Sensors market's revenue is controlled by the chronic illness & risk-monitoring category due to an increase in the prevalence of cardiovascular illnesses like CHF and hyperlipidemia.
- Based on end-use, most of the Accelerometer Medical Sensors market's revenue is controlled by hospitals & clinics categories. This is attributable to an increase in cardiovascular disorders, which is increasing the number of coronary artery bypass surgeries, one of the most common surgeries performed globally, predominantly in hospitals & clinics.
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Recent Developments in the Global Accelerometer Medical Sensors Market
- January 2021: Google purchased Fitbit to expand its accelerometer medical sensor market globally for smartwatches and fitness bands.
Chronic Illness & At Risk-Monitoring Category in Accelerometer Medical Sensors Market to Generate Over 43.5% Revenue
For better understanding, based on the application, the Accelerometer Medical Sensors market is divided into Chronic Illness & at Risk-Monitoring, Wellness Monitoring, In Hospital Clinical Monitoring, Sensor Therapeutics, and Post-Acute Care Monitoring.
The Chronic Illness & at Risk-Monitoring segment is expected to dominate the market for Accelerometer Medical Sensors. The incidence of chronic diseases is also expected to rise due to factors like a sedentary lifestyle, rising stress levels, and bad eating and sleeping habits. Hence, there is a growing need for more cutting-edge sensors to track the development of chronic diseases and monitor their progression, driving demand for the accelerometer medical sensor market.
On the other hand, it is anticipated that the wellness monitoring category will be the fastest growing category in the Accelerometer Medical Sensors market. Health indicators are digitally tracked and monitored as part of wellness monitoring utilizing tools like the Apple Watch and Fitbit products, which detect mobility and its intensity. The algorithm's goal is to transform basic accelerometer data into meaningful information so that it may be used to calculate a person's calorie expenditure better and track their sleeping body movement.
North America Region in Accelerometer Medical Sensors Market Anticipated to Generate a Great Amount of the Global Revenue
North America dominates the market throughout the projection period. This is a result of a number of things, such as its well-established healthcare infrastructure, high healthcare expenditure, the presence of monopolistic market participants, and the rapid adoption of cutting-edge technologies. Additional factors that are anticipated to drive market development include the increasing prevalence of accidents, sports injuries, and lifestyle-related health disorders. Throughout the projected period, the market is anticipated to be driven by rising emergency care needs and rising mobile surgery center adoption.
The Asia Pacific is expected to be the fastest growing region in the Accelerometer Medical Sensors market due to variables including the rising burden of the target disease, the growing senior population, the rising prevalence of unhealthy youth lifestyles, and the rising rates of acute ischemic chronic illness and at risk-monitoring. In APAC nations, there is a demand for accelerometer medical sensor equipment due to the increased prevalence of cardiovascular disorders. Moreover, China and India have the highest prevalence of diabetes globally, making them the most affected nations.
Browse market data Tables and Figures spread through 143 Pages and in-depth TOC on Accelerometer Medical Sensors Market Forecast Report (2023-2030).
Global Accelerometer Medical Sensors Market Segmentation
By Product
- Wearable
- Non-Wearable
By Application
- Chronic Illness & At Risk-Monitoring
- Wellness Monitoring
- In Hospital Clinical Monitoring
- Sensor Therapeutics
By End-Use
- Hospitals & Clinics
- Others (Ambulatory Surgical Centers, Long-Term Facilities, Home Care)
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 3.7 Billion |
| Revenue Forecast by 2030 | USD 8.9 Billion |
| CAGR | 13.5% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Koninklijke Philips N.V., Analog Devices Inc., Fit bit Inc., Garmin, BMC Medicals, Resmed, Somno Medics, Compumedics, Cleveland, Matrix Care, Nox Medicals, Actigraph, Aetna Inc. |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/accelerometer-medical-sensors-market-2103/request-sample |
Key Questions Answered in the Accelerometer Medical Sensors Market Report are:
- What is the current size and growth rate of the accelerometer medical sensors market?
- What are the key drivers and restraints for the market, and how are they likely to evolve over time?
- What are the different types of accelerometer medical sensors available in the market, and what are their respective advantages and limitations?
- What are the major applications of accelerometer medical sensors, and which ones are likely to see the highest growth in the coming years?
- What are the key trends and developments shaping the market, and how are they likely to impact the competitive landscape?
- Who are the major players in the accelerometer medical sensors market, and what are their strengths, weaknesses, opportunities, and threats?
- What are the regulatory and reimbursement frameworks governing the use of accelerometer medical sensors, and how are they likely to evolve in the coming years?
- What are the major challenges faced by the market, and how can they be addressed by players in the ecosystem?
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- Top Companies in Accelerometer Medical Sensors Market by Size, Share, Historical and Future Data & CAGR : https://v-mr.biz/accelerometer-medical-sensors-market
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