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.
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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.
- 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.
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