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Connected Biosensors - United Kingdom

United Kingdom

The United Kingdom's market, Connected Biosensors, is projected to reach a revenue of €301.80m in 2024.
It is expected to experience an annual growth rate of 5.77% (CAGR 2024-2029), resulting in a projected market volume of €399.60m by 2029.
The user penetration rate is estimated to be 3.30% in 2024 and is expected to reach 3.41% by 2029.
The average revenue per user (ARPU) is projected to be €134.70.
In comparison to other countries, China is anticipated to generate the highest revenue, amounting to €4,166.00m in 2024.
The United Kingdom is experiencing a surge in demand for connected biometric sensors, as its digital health market embraces advanced technology for personalized healthcare monitoring.

Key regions: Italy, Germany, France, United Kingdom, India

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Analyst Opinion

The Connected Biosensors market in United Kingdom is witnessing significant growth and innovation in smart thermometers, smart blood glucose meters, smart blood pressure meters, and social alarms.

Customer preferences: Consumers in the United Kingdom are increasingly seeking convenient and efficient healthcare solutions, which is driving the demand for connected biosensors. The preference for monitoring health parameters remotely and in real-time is leading to the adoption of smart devices that offer convenience and accessibility.

Trends in the market: In the United Kingdom, there is a growing trend towards the integration of connected biosensors with mobile applications and wearable devices. This integration allows users to track and manage their health data seamlessly, leading to better health outcomes. Moreover, the emphasis on preventive healthcare and early detection of health issues is fueling the demand for smart biosensors in the UK market.

Local special circumstances: The National Health Service (NHS) in the United Kingdom plays a significant role in shaping the connected biosensors market. The emphasis on digital health solutions and remote patient monitoring by the NHS is creating opportunities for the adoption of connected biosensors in the country. Additionally, the presence of a tech-savvy population and increasing awareness about the benefits of connected healthcare devices are contributing to the growth of the market in the UK.

Underlying macroeconomic factors: The growing healthcare expenditure in the United Kingdom, coupled with the focus on leveraging technology to improve healthcare outcomes, is a key macroeconomic factor driving the growth of the connected biosensors market. Furthermore, the increasing prevalence of chronic diseases and the aging population in the UK are creating a need for innovative healthcare solutions, thereby boosting the demand for smart biosensors in the country.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenues and user data of relevant mobile applications and consumer electronics companies.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, internet penetration, smartphone penetration, consumer spending, and healthcare spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.