U.S. PPG Biosensors Market To Reach $340.1 Million By 2030

May 2024 | Report Format: Electronic (PDF)

U.S. PPG Biosensors Market Growth & Trends

The U.S. PPG biosensors market size is anticipated to reach USD 340.1 million by 2030, registering a CAGR of 12.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. The use of photoplethysmography (PPG) technology as an alternative heart rate monitoring strategy has increased rapidly due to the ease of use and cost-effectiveness, rising prevalence of cardiovascular disorders (CVDs), and high adoption of wearable devices & smart watches. Photoplethysmography technology offers flexibility, enabling its integration into various devices, such as watches, rings, patches, and earbuds. Several cardiac rhythm indicators, including heart rate (HR), heart rate variability (HRV), blood-volume saturation, and respiration rate (RR), had emerged as potential markers for COVID-19 infection.

Smart wearables equipped with PPG technology already measure these vital signs. In May 2019, Masimo received FDA clearance for its Tetherless Radius PPG sensors. These sensors enable the placement of point-of-care monitors outside a patient's room, ensuring constant monitoring from a safe distance. The increasing prevalence of CVDs is expected to be a major factor propelling the growth of this market over the forecast period. According to the CDC, approximately 695,000 of the U.S. inhabitants die from CVDs.

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U.S. PPG Biosensors Market Report Highlights

  • The smart watches segment held the largest share of more than 40% in 2023 and is expected to witness the fastest CAGR from 2024 to 2030 due to increased adoption rate

  • The heart rate monitoring segment held the largest share in 2023 and is anticipated to witness considerable growth over the forecast period

  • The blood-oxygen saturation segment is anticipated to witness the fastest growth rate from 2024 to 2030

  • In November 2023, GE HealthCare and Masimo collaborated to integrate Masimo SET Pulse Oximetry technology into the GE HealthCare Portrait Mobile Platform. It is aimed to incorporate Masimo's advanced pulse oximetry capabilities into GE HealthCare's wireless and wearable devices, enabling users to monitor vital signs, such as heart rate and blood oxygen levels, with high precision

U.S. PPG Biosensors Market Segmentation

Grand View Research has segmented the U.S. PPG biosensors market on the basis of product and application:

U.S. PPG Biosensors Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Pulse Oximeters

  • Smart Watches

  • Wrist Bands

  • Others

U.S. PPG Biosensors Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Heart Rate Monitoring

  • Blood-oxygen Saturation

  • Blood Pressure

  • Others

List of Key Players in the U.S. PPG Biosensors Market

  • Masimo Corporation

  • Valencell. Inc.

  • Maxim Integrated

  • Nonin Medical, Inc.

  • Rockley Photonics

  • Omron Healthcare

  • BioTech Instruments, Inc.

  • CureX, Inc.

  • Preventice Solutions

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