There has been an increasing momentum for consumer healthcare monitoring and sensing driven by sensors with advanced features and sophistication. The consumer healthcare will lessen the healthcare cost of the patient by reducing the time associated with doctor consultation, visiting doctor and so on. As such, consumer healthcare sensing plays an important role in delivering reliable psychological and biometric monitoring of patients.
According to Research and Markets’ findings, the sensor market in this space [consumer healthcare] is expected to reach $47.40 billion by the end of 2020, growing at a CAGR of 5.56%. The market is driven, the research firm is saying, by the rising healthcare costs, aging population and wide-spread diseases; and in that sense we see the growth in portable and disposable diagnostic equipment, and increasing need for greater precision and reliability. Applications of sensor market in consumer healthcare sector include patient monitoring, therapeutic, imaging, handheld and homecare devices, and fitness and wellness devices.
These and many other findings are part of Research and Markets’ latest report, titled “Sensor Market in Consumer Healthcare by Application, Sensor Type & by Geography – Analysis & Forecast to 2013 – 2020.”
[Image from iee.lu]