Global Body Area Network Market: Overview
According to a new research report pertaining to the body
area network market, published by Transparency Market Research,
the global body area network market is expected to reach a value of more than
75,000 Mn by 2027, expanding at a CAGR of nearly 23% from 2019 to 2027.
According to the report, the global body area network market would continue to
be influenced by a range of macroeconomic and body area network market-specific
factors during the forecast period.
Growing Adoption of Remote Health Monitoring Systems and
Rising Elderly Population Driving the Global Body Area Network Market
- Increasing
elderly population across the globe and rising expenses on healthcare are
prompting improvements in existing healthcare applications by the
introduction of new technologies. This, in turn, is anticipated to drive
the demand in the global body area network market in the coming years.
- Providers
of healthcare systems and services across the world are working to promote
healthy ageing in order to prevent and treat non-communicable diseases and
chronic conditions, and expand access to high-quality, long-term, and
palliative care.
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- With
the help of body area network technologies, healthcare service providers
can monitor objects remotely. Recent advancements in microelectronics,
telecommunications, data analysis techniques, and sensor manufacturing
have opened new avenues for using wearable technology in digital health
ecosystems, to achieve a wide range of positive health outcomes.
Additionally, with the advent of cloud computing, several wearable sensor
systems can now be easily upgraded without the need for users to install a
software in their monitoring devices. The rising popularity of wearable
healthcare monitoring devices and growing awareness about healthcare
monitoring from a remote location are anticipated to boost the global body
area network market during the forecast period.
Healthcare Segment to Account for a Prominent Share of
the Global Body Area Network Market
- The
report offers detailed segmentation of the global body area network market
in terms of technology (Bluetooth, Wi-Fi, ZigBee, and others), device
(wearable devices and implantable devices), and end-use industry
(healthcare, sports, and others). The global body area network market has
also been segmented based on region (North America, Europe, Asia Pacific,
Latin America, and the Middle East & Africa).
- Among
the end-use industries, the healthcare segment accounted for a leading
share of the global body area network market in 2018. The segment is
anticipated to maintain its leading position in the global body area
network market during the forecast period as well.
- The
rising demand for remote health monitoring is adding to the potential
consumer base for body area networks. This factor is expected to drive the
body area network market during the forecast period.
North America to be a Highly Lucrative Region in the
Global Body Area Network Market
- North
America is expected to hold a prominent market share of the global body
area network market during the forecast period, owing to early penetration
of body area networks in this region. Asia Pacific and Europe hold a
considerable market share each in the body area network market. On the
other hand, these regions are projected to provide highly lucrative
opportunities to the body area network market during the forecast period.
- Technological
advancements and increase in the incidences of cardiovascular and other
diseases (such as diabetes and hypertension) are likely to drive the
healthcare sector in Asia Pacific during the forecast period. Thus,
healthcare research institutes are investing in different emerging
technologies, which is expected to offer a new opportunity to providers of
BAN components and services in the next few years. Furthermore, the
increasing demand for healthcare monitoring devices based on Bluetooth and
Wi-Fi technologies is expected to boost the body area network market in
the region during the forecast period.
High Investments and New Product Development by Key
Players to Boost the Global Body Area Network Market
The body area network market report provides the profiles of
leading players operating in the global body area network market. These include
Abbott Laboratories, Bluetooth SIG, Ericsson AB, Fujitsu Limited, General
Electric Company (GE), IBM Corporation, Intel Corporation, Telefonica SA,
Renesas Electronics Corporation, and ST Microelectronics.
- In
March 2016, VivoSensMedical GmbH announced its plans to improve its
existing product, i.e. Ovularing, with the help of a start-up company
called Saxony. This product has been developed for doctors/gynecologists
who can use it during the pregnancy of patients or for determining the
fertility of patients.
- In
December 2018, VitalConnect launched VistaTablet as an extension to its
FDA-approved biosensor called VitalPatch, which measures eight vital
parameters and provides continuous patient monitoring information from any
location.
Global Body Area Network Market: Segmentation
The global body area network market has been segmented as
follows:
Global Body Area Network Market by Technology
- Bluetooth
- Wi-Fi
- ZigBee
- Others
Global Body Area Network Market by Device
- Wearable
Devices
- Implantable
Devices
Global Body Area Network Market by End-use Industry
- Healthcare
- Sports
- Others
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