Accelerometer Medical Sensors Market

The global Accelerometer Medical Sensors Market was 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% between 2023 and 2030.

Premium Insights

Accelerometer Medical Sensors are frequently used to accurately measure physical activity in clinical and epidemiological research. There is much interest in using accelerometers to describe physical activity in people as physical inactivity becomes a serious health concern for society. Over the years, numerous various types of accelerometers have been developed. In 1923, a product that could genuinely be referred to as an accelerometer sensor was created. It was a gyroscope of the resistance-bridge variety. The device was released for sale by the American firm Southwark five years later. They subsequently developed a two-axis accelerometer. Later, different variations were developed, such as a tension gauge accelerometer, a Rochelle salt crystal accelerometer, and a barium titanate accelerometer. Three-axis accelerometers are now incredibly prevalent in electronic devices. They are found in many different types, including smartphones, tablets, game controllers, and fall automatic detection devices, which are extensively used in the alert medical sector.

The rising incidence of chronic diseases and the rise in elderly people are the main drivers of market expansion. Additionally, as people's health awareness has grown, so has the demand for low-cost, simple-to-use home-based Accelerometer Medical Sensors. Additionally, the number of people who record and track information about their health habits is anticipated to increase during the forecast period.

According to an essay published in April 2022 by Commentary on Chronic Disease Prevention, about 60.0% of Americans have at least one chronic disease. The main causes of death in the United States are chronic conditions like cancer, diabetes, and cardiovascular diseases. Additionally, individuals with chronic diseases like heart disease, diabetes, strokes, cancer, and chronic obstructive pulmonary disease account for 90.0% of the country's USD 3.8 trillion healthcare expenses. Most Becker muscular dystrophy (BMD) patients who develop cardiomyopathy do so in their late 20s, according to a Muscular Dystrophy News article from January 2022. Additionally, a January 2022 Single Care article estimates that between 50.0 and 70.0 million adults in the United States will suffer from a chronic sleep disorder. Therefore, a lack of sleep increases the risk of chronic health issues. These occurrences are predicted to increase the demand for Accelerometer Medical Sensors to track and identify the difficulty in muscle movement brought on by various chronic illnesses.

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Economic Insights

Over the past two years, prices have increased significantly due to the high inflation rates in developed economies worldwide. The overall purchasing power is anticipated to affect developing economies significantly and is considered beneficial in many ways. Moreover, the negative effects of the Russia-Ukraine Conflict are anticipated worldwide, particularly in Eastern Europe, the European Union, Eastern & Central Asia, and the United States. This claim has significantly disrupted trade relations and harmed people's lives and means of subsistence. It is anticipated that the continuing Conflict and unpredictability in Eastern Europe will negatively affect Ukraine and have severe, long-lasting effects on Russia.

Top Market Trends

1. Growing Prevalence of Various Diseases: Around 1.5 million novel cancer cases were reported, and 609,360 deaths were anticipated, according to an article from the American Cancer Society published in January 2022. Following cardiovascular diseases, the second most common cause of death in the U.S. is cancer. Moreover, a July 2022 American Diabetes Association article states that approximately 1.5 million Americans will receive a diabetes diagnosis yearly. Accelerometers medical sensors are used to track, monitor, and record several health indicators, including blood pressure, pulse, caloric intake, and heart rate. Thus, demand for these devices is anticipated to rise during the forecast period due to the many advantages of wearable Accelerometer Medical Sensors.

2. Technological Advancements in Medical Sector: Micro-Electro-Mechanical Systems (MEMS) sensor technology, fiber optic technology, and cancer tracking sensor technology are a few technological developments anticipated to drive the market. Innovations are driven by escalating consumer demand for new products and the resulting need for ease of use and better facilities. Technological advancement has improved businesses by boosting productivity, making equipment use simpler, and providing patients with convenient access to better healthcare.

3. Growing Awareness for Maintaining Health: Accelerometer Medical Sensors and monitoring devices that can sense and give users feedback about their health status for increased safety is becoming increasingly necessary as healthcare awareness has grown. The University of California, San Diego's engineering department also created a soft, elastic skin patch that can be worn around the neck in February 2022. It tracks the wearer's blood pressure, heart rate, glucose, lactate, alcohol, and caffeine levels. The body's various biochemical levels and cardiovascular indicators are also examined.

4. Growing Adoption of AI and Machine Learning in the Healthcare Sector: In the current healthcare industry, machine learning, and AI capabilities are elevating the skills of healthcare professionals. In support of this, the cost of IoT-compatible wearable sensors is falling, enabling manufacturers to offer wearable devices at a lower price, and encouraging various industries to adopt products tailored to their systems and operations. Additionally, over the past few years, a significant rise in wearable technology sales has been observed, fuelling the demand for Accelerometer Medical Sensors.

Market Segmentation

The global Accelerometer Medical Sensors market can be segmented into Product, Application, End Use, and Region. Based on the Product, the market can be categorized into Wearable and Non-Wearable. In addition, based on Application, the market can be further split into Chronic Illness & Risk Monitoring, Wellness Monitoring, In-Hospital Clinical Monitoring, Sensor Therapeutics, and Post-Acute Care Monitoring. Moreover, based on End Use, the market can be further fragmented into Hospitals & Clinics and Others (Ambulatory Surgical Centers, Long-Term Facilities, and Home Care). Likewise, based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on Product

Wearable to Lead with the Largest Market Share Owing to Growing Adoption and Demand of Wearables

The Wearables will dominate the segment of the Accelerometer Medical Sensors market during the forecast period. Wearable Accelerometer Medical Sensors make measuring and monitoring a person's motion and physiological activities possible. Medical sensors with wearable accelerometers can be fastened to the body or clothing, shoes, headbands, and wristbands. Numerous healthcare indicators, including blood pressure, pulse, calorie intake, heart rate, and others, are tracked, monitored, and recorded using wearable sensors. Therefore, the demand for these devices is expected to rise during the forecast period due to the numerous advantages of wearable Accelerometer Medical Sensors.

Based on Application

Chronic Illness & Risk-Monitoring to Account for the Largest Market Share Owing to Growing Prevalence of Various Chronic Diseases

The chronic illness & risk-monitoring segment will dominate the global Accelerometer Medical Sensors market during the forecast period. An increase in the prevalence of cardiovascular diseases like CHF and hyperlipidemia drives segmental growth. Additionally, it is expected that factors like a sedentary lifestyle, increased stress, and poor eating and sleeping habits will increase the prevalence of chronic diseases. As a result, there is a growing need for more cutting-edge sensors to track and monitor the progression of chronic diseases, which is driving demand for the accelerometer medical sensor market.

Based on the End User

Hospitals & Clinics Will Account for the Largest Market Share owing to the Increasing Number of Medical Procedures

The segment of hospitals & clinics will dominate the global Accelerometer Medical Sensors market during the forecast period. This is due to a rise in cardiovascular diseases, increasing the demand for coronary artery bypass surgeries, one of the most common surgeries globally. These operations are typically performed in hospitals and clinics.

Based on Region

North America to Lead Global Sales Owing to Higher Adoption Rate of Wearables

The global Accelerometer Medical Sensors market is expected to be dominated by the region of North America during the forecast period. This is due to factors like its established healthcare infrastructure, high healthcare spending, the existence of monopolistic market players, and the quick uptake of cutting-edge technologies. The rising incidence of accidents, sports injuries, and lifestyle-related health conditions are additional factors likely to spur market growth. Furthermore, the market is anticipated to be driven during the forecast period by rising demand for efficient emergency care and the rising use of mobile surgery centers. The key players in the market are launching more products, which has expanded the market's growth over the projection period. For instance, in July 2020, the Food and Drug Administration (FDA) gave the green light to ivWatch, LLC, a pioneer in biosensor technology, to develop its new SmartTouchTM disposable sensor for early detection of peripheral IV infiltration and extravasation events.

Due to factors like an increasing geriatric population, rising rates of unhealthy youth lifestyles, and rising acute ischemic chronic illness and at-risk monitoring, Asia Pacific is predicted to experience the fastest growth rate during the forecast period. In Asia Pacific countries, there is a demand for accelerometer medical sensor tools due to the rising prevalence of cardiovascular diseases. Additionally, China and India have the highest rates of diabetes globally, making them the most affected nations. The International Diabetes Federation (IDF) estimated that approximately 90.0 million people (20–79) in the South-East Asia (SEA) Region of the IDF had diabetes as of December 2021. Additionally, during the forecast period, emerging economies like China, South Korea, and India are anticipated to experience significant growth. It is anticipated to accelerate the market growth for medical accelerometer sensors.

Competitive Landscape

The key players in the global Accelerometer Medical Sensors market include - 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.) among others.

Recent Market Developments

· April 2022: A new NTC thermistor has been created by Variohm EuroSensor specifically for use in medical equipment. It is intended for sensing minute temperature changes in the body and the surrounding environment of a medical facility.

· February 2019: VivaLNK unveiled a platform for wearable medical sensors that combines a variety of sensors with edge computing and an Internet of Health Things data cloud. The VivaLNK Developer Program makes the sensor platform available. Businesses are using it, like Vitalic Medical, which is creating a bedside monitor for early detection of patient health deterioration and potential falls.

Segmentation of the Global Accelerometer Medical Sensors Market