PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1320125
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1320125
The Photoplethysmography (PPG) Biosensors Market size was valued at USD 530.4 Million in 2022, expanding at a CAGR of 11.9% from 2023 to 2030.
Photoplethysmography (PPG) is an uncomplicated and inexpensive optical measurement method that is often used for heart rate monitoring purposes. PPG is a non-invasive technology that uses a light source and a photodetector at the surface of the skin to measure the volumetric variations of blood circulation. Recently, there has been much interest from numerous researchers around the globe to extract further valuable information from the PPG signal in addition to heart rate estimation and pulse oximetry readings. PPG biosensors can be used for a range of applications, including heart rate monitoring, SpO2 measurement, sleep tracking, stress assessment, and fitness monitoring. PPG biosensors have emerged as effective instruments for non-invasive physiological parameter monitoring, and they are increasingly being integrated into consumer and medical products for health and wellness applications.
Cardiovascular illnesses, which include hypertension, coronary artery disease, and heart failure, are a primary cause of morbidity and mortality around the world. PPG biosensors have numerous benefits in monitoring and maintaining cardiovascular health, which contributes to market growth. Cardiovascular diseases (CVDs) are the leading cause of death globally, taking an estimated 17.9 million lives each year. According to the Centers for disease control and Prevention, one person dies every 33 seconds in the United States from cardiovascular disease. And About 695,000 people in the United States died from heart disease in 2021 that's 1 in every 5 deaths. The rise of telemedicine and virtual healthcare consultations presents an opportunity for PPG biosensors. However, the strict rules and regulations imposed for the testing of biosensors in research laboratories are restricted the market growth.
The Global Photoplethysmography (PPG) Biosensors Market is segmented on the basis of Product Type, Application, Technology, and Region.
The market is divided into three categories based on product type: Pulse Oximeters, Smart Watches, Smart Wrist Bands, and Others. The Smart Watches segment dominates the market. Smartwatches, which are wearable devices with a variety of sensors and functionalities, include PPG biosensors built into their design for health monitoring and fitness tracking.
The market is divided into two categories based on application: Heart rate monitoring, Blood-oxygen saturation, Blood pressure, and Others. The heart rate monitoring segment dominates the market and is likely to maintain its dominance during the forecast period. In recent years, there has been a substantial increase in demand for Photoplethysmography (PPG) biosensors, particularly in the heart rate monitoring segment. PPG biosensors play an important role in measuring heart rate by detecting changes in blood volume in peripheral tissues.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the growth of the Photoplethysmography (PPG) Biosensors Market due to the increasing number of clinical trials of pulse oximeters and also new product launches by end-users. The increasing number of clinical trials involving pulse oximeters and Photoplethysmography (PPG) biosensors demonstrates the growing interest in these technologies for healthcare applications. According to the U.S. Food and Drug Administration, Pulse oximeter accuracy is highest at saturation of 90-100%, intermediate at 80-90%, and lowest below 80%. Due to accuracy limitations at the individual level, SpO2 provides more utility for trends over time instead of absolute thresholds. Europe has seen increasing adoption of PPG biosensors in recent years. Countries such as the United Kingdom, Germany, and France have well-recognized healthcare systems and a growing interest in digital health technologies, contributing to the utilization of PPG biosensors.
The market for PPG biosensors is very competitive due to ongoing technical improvements. Businesses are investing more in R&D to increase sensor accuracy, cut power usage, improve signal processing algorithms, and incorporate more health monitoring capabilities. Innovation, new product development, and market expansion are fueled by the demand for PPG biosensors in a variety of applications and the fierce competition between existing competitors and up-and-coming businesses. The market is anticipated to continue growing as a result of PPG biosensor technology's ongoing developments and the desire for wearable health monitoring devices. Companies in the PPG biosensors market frequently work together and make alliances in order to strengthen their position in the industry and diversify the products they provide.
In Jan 2019, Maxim Integrated released a new biosensor module, the MAX86150, which makes it easier for designers to provide Photoplethysmography (PPG) and electrocardiogram (ECG) measurements for mobile health monitoring via mobile battery-powered devices.