PPG Biosensors Market Size, Share & Trends Report

PPG Biosensors Market Size, Share & Trends Analysis Report By Application (Heart Rate Monitoring, Blood-oxygen Saturation), By Product (Pulse Oximeters, Smart Watches), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68039-369-7
  • Number of Pages: 60
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2021
  • Industry: Healthcare

Research Methodology

A three-pronged approach was followed for deducing the ppg biosensors market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for ppg biosensors market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of ppg biosensors market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

ppg biosensors Market Categorization:

The ppg biosensors market was categorized into four segments, namely product (Pulse Oximeters, Smart Watches, Wrist Bands), application (Heart Rate Monitoring, Blood-oxygen Saturation, Blood Pressure), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The ppg biosensors market was segmented into product, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The ppg biosensors market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; Germany; UK; France; Italy; Spain; Denmark; Sweden; Norway; China; Japan; India; South Korea; Australia; Thailand; Brazil; Mexico, Argentina; South Africa; Saudi Arabia, UAE; Kuwait

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

PPG biosensors market companies & financials:

The ppg biosensors market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Valencell, Inc. The company specializes in the development of biometric sensor technology for hearables wearables, providing its patented technology to consumer electronics manufacturers across various industries. Their flagship technology, PerformTek, enables continuous measurement of biometrics such as respiration rate, blood pressure, blood oxygen levels, heart rate, heart rate variability, and VO2 for health and fitness assessment. PerformTek can be seamlessly integrated into products designed by consumer electronics manufacturers, mobile device & accessory makers, medical device companies, sports & fitness brands, and hearing aid manufacturers. With over 60 granted patents and over 100 pending patents, Valencell's intellectual property and technology are utilized by more than 35 companies. Notable brands that have commercialized wearable devices featuring Valencell's technology include Sony, Bose, LG, Suunto, Jabra, and Samsung.

  • Analog Devices, Inc. Analog Devices, Inc. is a company segmented into four business units: communications, automotive, industrial, and healthcare business group. It specializes in digital, analog, & mixed signal processing and is involved in manufacturing semiconductors. The product portfolio of the company includes amplifiers, audio-video products, digital-to-analog converters, linear products, microwave, and optical & other sensors. The company offers these products to more than 100,000 clients across a broad range of industries, including IT, automotive, Health imaging, communication, electronics, and others. Analog Devices has a global presence and operates in the North & South America, Europe, Japan, and China.

  • Murata Manufacturing Co., Ltd. It is an electronic component manufacturer that specializes in the design, production, and supply of advanced electronic materials, components, & high-density modules. Its product portfolio encompasses a wide range of components such as capacitors, thermistors, sensors, inductors, resistors, timing devices, couplers, power & small energy devices, filters, RF modules, batteries, and more. Murata serves a wide range of clients in the telecommunication, electronic, and electrical sectors. The company operates in Japan, North America, Asia, and various European countries.

  • Silicon Laboratories Silicon Laboratories, Inc. operates on a fabless model, focusing on the design and manufacturing of semiconductors, silicon devices, & software. Their products are targeted toward electronics design engineers and manufacturers in the global Internet of Things (IoT) infrastructure market. These products are marketed under various brands such as Wi-Fi, Bluetooth, sub-GHz, Zigbee, Z-Wave, Wi-SUN, Simplicity Studio, Thread, and others. The company operates in multiple countries, including the U.S., Canada, Denmark, France, Germany, Finland, Hungary, Italy, Norway, UK, Singapore, India, China, Taiwan, Japan, and South Korea.

  • Mediatek The company specializes in designing, developing, and marketing system-on-chip (SoC) solutions. It provides a wide range of SoCs for wireless communication devices, optical storage disks, digital home appliances, and analog products. Its product portfolio includes high-end consumer-oriented Integrated Circuits (ICs), computer peripheral ICs, multimedia ICs, and other application ICs. The company also provides chipset technology for various devices, including Blu-ray DVD players, optical players, feature phones, smart TVs, voice assistant devices, and Android tablets. In addition to its hardware solutions, the company also provides a comprehensive range of services such as software & hardware application testing and design, maintenance, & consultation. It has a strong global presence in multiple countries, including Singapore, India, Taiwan, the U.S., China, Japan, South Korea, UAE, Sweden, Finland, and the UK.

  • ams-OSRAM AG It is in the field of optical solutions. The company has a distinctive product and technology portfolio that encompasses sensing, illumination, & visualization. Its product portfolio starts from light emitters and optical components to micromodules, light sensors, ICs, & accompanying software. The company offers a comprehensive range of solutions. It also caters to diverse sectors, including consumer, automotive, healthcare, and industrial applications. The company serves a global customer base of over 20,000. Moreover, 15,000 patents were granted and applied, with more than 40 major research and development locations.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

PPG Biosensors Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

PPG Biosensors Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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