The new report by Expert Market Research titled, ‘Global Body Area Network Report and Forecast 2021-2026’, gives an in-depth analysis of the global body area network market, assessing the market based on its segments like technology, device, end use and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
Historical Market Size (2020): USD 10 Billion
Forecast CAGR (2021-2026): 12%
Forecast Market Size (2026): USD 19.7 Billion
The market is growing as people become more aware of the availability of technologically advanced electronic healthcare equipment around the world. Because of the increased prevalence of smart devices such as fitness trackers in the area, North America is expected to hold the highest share of the market throughout the forecast period.
Industry Definition and Major Segments
A body area network is a wireless network of computing devices that are worn on the body. The patient’s health is continuously monitored by BAN. It aids in the measurement of patient’s vital signs as well as the detection of emotions or emotional states such as fear, tension, and happiness. It delivers the patient’s biological signals to the doctor in real time, allowing the doctor to make a real-time medical diagnosis and choose the best treatment for the patient. The BAN will require monitoring sensors and motion detectors to assist in recognizing individual locations, as well as a communication network to send motion data to medical practitioners.
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Based on technology, the market covers:
Bluetooth
Wi-Fi
ZigBee
Others
Based on device, the market is segmented into:
Wearable Devices
Implantable Devices
Based on end use, the market is categorised into:
Healthcare
Sports
Others
The major regional markets include:
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa
Market Trends
The availability of low-cost smart devices, as well as quick advancements in treatment approaches and communication techniques, are driving the global body area network market. Furthermore, the government’s expanding support encourages the use of digital healthcare. Because of the rising use of smartwatches and smart bands in sports and fitness apps, the wearable device industry is growing at a quicker rate. Because of the rising prevalence of chronic illnesses, expanding demand for efficient healthcare facilities, rising healthcare prices, and rising disorders due to changing lifestyles, North America is likely to lead the market over the forecast period.
Key Market Players
The major players in the market are DJO Global, Abbott Laboratories [ABT (NYSE)], Bluetooth SIG, Ericsson AB, Fujitsu Limited [6702 (TYO)], General Electric Company (GE), IBM Corporation, Intel Corporation [INTC (NASDAQ)], Telefonica SA [TEF (BME)], Renesas Electronics Corporation [6723 (TYO)], among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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