Photoplethysmography Biosensors Market: By Application (Heart Rate Monitoring, Blood-Oxygen Saturation, Blood Pressure), By Product Type (Pulse Oximeter, Smart Wrist Bands, Smart Watches) By Distribution channel (Pharmacies, Electronic Stores, E-commerce) and Geography

Photoplethysmography Biosensors Market size was valued at USD 412.8 million in 2022 and is expected to grow at a CAGR of 17.0% from 2023 to 2029. 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.

According to the World Health Organization (WHO), cardiovascular diseases are the leading cause of death worldwide taking an estimated 17.9 million lives each year. The growing prevalence of cardiovascular disorders worldwide is boosting the Global PPG Biosensors Market. Also, many people across the globe suffer from some sort of cardiovascular disease that requires continuous health monitoring. Furthermore, the Expanding diabetes population and demand for smaller diagnostic devices will provide further chances for the Global PPG Biosensors Market to grow. PPG is more adaptable and can be used in a broad range of products like watches, rings, and earphones. The advancement in technology and the non-invasive nature of PPG Biosensors are further expected to influence the market growth. The continuous evolution in PPG Biosensors has resulted in the Development of new devices which have increased the efficiency and accuracy of Biosensors. By using PPG Biosensors, Patient’s vital health can be monitored by doctors from a distance which will also reduce the risk of infection. Biosensors integrated with artificial intelligence have been developed. For instance, in 2019, researchers created an AI classifier that can identify a specific cardiovascular disease named hypertrophic cardiomyopathy using a wearable wrist biosensor. 

Photoplethysmography (PPG) Biosensors  Key Market Developments:

• Roche signed an agreement (Global Business Partnership Agreement) with Sysmex in January ’2021 for delivering hematology testing solutions. The purpose of the agreement is to use the IT systems to lead to improved clinical decision-making.
• Abbott unveiled news regarding FreeStyle Libre 2, a next-generation, sensor-based glucose monitoring technology in December’2020. The technology received approval from Health Canada for adults and children.