Wearable Sensors Market Size

Wearable Sensors Market size was valued at USD 2.96 Billion in 2023 and is likely to reach USD 25.98 Billion by the end of 2036, expanding at around 18.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of wearable sensors is assessed at USD 3.44 Billion. The growth of the market can be attributed primarily to the increasing interest and awareness of fitness among individuals. In a survey, it was observed that, in the United States, 62% of people are interested in maintaining their health, and 53% are interested in doing physical exercise and eating nutritious foods and drinks. Moreover, the digitalization of products and services in the healthcare sector is anticipated to drive the global wearable sensors market during the forecast period. With different applications such as tracking air quality through the use of inhalers or monitoring breast cancer using bra inserts, healthcare wearable devices can be used for different treatments and therapies.

Furthermore, the rising prevalence of cardiovascular diseases (CVDs) worldwide is one of the key factors expected to propel the demand for wearable sensors.  According to the World Health Organization, across the world, cardiovascular diseases (CVDs) account for the largest number of deaths. Globally, 17.9 million people died from CVDs in 2019, which accounted for 32% of all deaths. Among these deaths, 85% were caused by cardiac abnormalities, heart attacks, and strokes. In PPG sensor technology, oxygen saturation, blood pressure, and cardiac output are measured through waves and peak readings. Such sensors are used to diagnose and monitor cardiovascular diseases, such as strokes, heart valve diseases, and hypertension. Moreover, the rapid adoption of smartphones and wireless devices, miniaturization of sensors, advancements in sensors, the growing smart clothing market, and rising healthcare spending are some of the market trends expected to fuel market growth over the forecast period.