Adoption of Wireless Communication Technologies in Healthcare Sector Boosts Body Area Network Market by 22.3%

Bluetooth Technology to Remain Highly Sought-After in Body Area Network Market, Registering 24.3% CAGR

Fact.MR, in its latest study, provides in-depth insights into the global body area network market for the upcoming decade. The report also offers in-depth analysis of drivers, opportunities, and challenges encouraging sales of body area network across segments within the market including technology, devices, end use industry, and regions.

NEW YORK, April 18, 2022 /PRNewswire/ -- A Market Research and Competitive Intelligence Provider: Total sales in the body area network market are projected to reach a valuation of US$ 229.8 Bn by the end of 2032. As per the study, the global body area network market is slated to witness growth at a CAGR of 22.3%.

Growing demand for continuous monitoring of vital parameters in asthmatic, diabetic, and heart attack survivors is underpinning the need for body area network solutions. Consequently, high prevalence of chronic diseases is anticipated to bolster the adoption of body area network solutions among patients.

Additionally, increasing reliability on the data obtained through body area network as first-hand information will continue boosting applications in the healthcare sector in the forthcoming years.

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Adoption of body area network in private hospitals and government organizations is surging due to the drop in the prices of communicable devices and wearable electronics.

Also, expansion of telecommunication industry in low-income countries is encouraging the integration of 5G technology and advanced network spectrums. This is expected to enhance the network connectivity in body area network devices, thereby creating opportunities for growth for body area network manufacturers.

Apart from this, to cater to the growing need for body area network, manufacturers are improving their product line by integrating advanced technologies such as artificial intelligence (AI), smart sensors, and machine learning.

Key Takeaways:

• Based on technology, the Bluetooth segment is expected to exhibit growth at a CAGR of 24.3% during the forecast period.
• Sales of body area network in China are expected to increase at a 24.7% CAGR through 2032.
• By end use industry, the healthcare segment is projected to exhibit the fastest growth through 2032.
• Based on devices, wearable segment is expected to dominate the market on the back of increasing demand for real-time data and constant health monitoring.
• The U.S. body area network market is projected to reach US$ 88 Bn over the assessment period.

Growth Drivers:

• Adoption of 5G technology and other advanced network spectrums is increasing reliability of online services, which, in turn, will create a conducive environment for market players.
• Increasing utilization of data transfer technologies such as body area network for remotely monitoring health parameters will fuel the growth in the market.

Restraints:

• Data security problems in developing countries are projected to hinder sales in the market.
• The constraints associated with the use of other electronic gadgets might restrain its demand in the coming years.

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Competitive Landscape:

Key players operating in the global body area network market are focusing on expanding their product portfolios to cater to the growing demand for wireless solutions in the healthcare sector. Meanwhile, some manufacturers are investing in business strategies including collaborations, mergers, partnerships, and joint ventures to gain a competitive edge.

For instance,

• In 2022, Bluetooth SIG is finalizing on the development of LE Audio which will help develop Bluetooth hearing aids to provide all Bluetooth audio-related benefits to the individuals with hearing loss. In the next 5 years, new phones and TVs will be made available for the users with hearing aids.
• April 2019: The Garmin Co. developed four new watches including 45, 45S, 245, 245 Music, and 945. These products were added to its Forerunner series

Key Companies Profiled by Fact.MR

• Fujitsu Limited
• Abbott Laboratories
• Intel Corporation
• Ericsson AB
• ST Microelectronics
• Telefonica SA
• Bluetooth SIG
• Renesas Electronics Corporation
• IBM Corporation
• Jawbone Inc.
• General Electric Company (GE)

More Valuable Insights on Body Area Network Market

Fact.MR in its latest study offers a comprehensive analysis on the global body area network market. It also provides key information such as latest trends, drivers, and challenges factors that are expected to influence sales of body are network during the forecast period of 2022 to 2032. It also uncovers critical forecast data for the body area network market through detailed segmentation as follows:

By Technology:

• Bluetooth
• Wi-Fi
• Zigbee
• Others

By Devices:

• Wearable Devices
• Implant Devices

By End Use Industry:

• Healthcare
• Sports
• Others

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa (MEA)

Key Questions Covered in the Body Area Network Market Report

• Who are the leading players in the body area network market?
• Which region is anticipated to dominate the global body area network market during 2022-2032?
• What is the expected value of body area network market in 2022?
• Which are the challenges faced in the body area network market?
• What will be the market size of global body area network market during the forecast period (2022-2032)?
• At what rate will the global body area network market grow until 2032?

Explore Fact.MR's Coverage on the Technology Domain

Behavioral Biometrics Market: Sales of behavioral biometrics are estimated to increase at a CAGR of 20% on the back of the growing number of cyber threats in eHealth. Also, rise in mobile users has led to an increase in mobile banking activities, which in turn is boosting demand for behavioral biometrics to maintain digital security.

Personal Assistance Apps Market: Growing trend of Bring Your Own Device (BYOD) and remote working is boosting sales of personal assistance apps to improve the overall productivity. In addition to this, demand for hands-free operation by speech recognition will continue pushing sales of personal assistance apps.

Elderly Care Apps Market: The elderly care apps market is estimated to witness significant growth during the forecast period. Growth is attributed to the increasing adoption of smartphone-based medical care apps that provide patient history, reorder prescriptions, and receive reminders regarding medication. Furthermore, rising requirement for remote health monitoring to enhance the communication between elderly patients and doctors is expected to increase the usage of elderly care apps.

About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, chemical, and materials, to even the most niche categories. 80% of Fortune 1000's trusts us in critical decision making.

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SOURCE Fact.MR

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