PPG Biosensors Market Size, Industry Share and Forecast 2028
PPG Biosensors Market Share, Size, Trends, Industry Analysis Report, 2021 - 2028

PPG Biosensors Market Share, Size, Trends, Industry Analysis Report, By Product (Pulse Oximeters, Smart Watches, Smart Wrist Bands, Others); By Application; By Region; Segment Forecast, 2021 - 2028

  • Published Date:Sep-2021
  • Pages: 115
  • Format: PDF
  • Report ID: PM1974
  • Base Year: 2020
  • Historical Data: 2016-2019

Report Outlook

The global PPG biosensors market was valued at USD 344.3 million in 2020 and is expected to grow at a CAGR of 12.0% during the forecast period. Easy use, cost-effectiveness, and user comfort are some of the key factors that have increased PPG biosensors usage, as an alternate heart rate monitoring technique. PPG is more adaptable, allowing it to be used in a broad range of products, including watches, patches, rings, and earphones.

PPG Biosensors Market SizeKnow more about this reportrequest for sample pages

Consumers have become increasingly interested in wearable health-tracking technology such as smartwatches and fitness trackers in recent times. PPG biosensors are incorporated into intelligent wearables to assess heart rate, blood pressure, blood oxygen saturation, and many other applications. All these factors drive PPG biosensors market growth.

There is a rapid increase in the prevalence of cardiovascular diseases (CVD) across the globe due to various factors that includes hypertension, diabetes, and smoking habit. Globally more than 1.1 billion people suffer from hypertension and 1.3 people have smoking habits and all these factors can cause various types of CVD.

The total cases of CVD have increased to 523 million in 2019. In the U.S. alone, over 122 million people suffer from CVD, more than 40% of its population. Monitoring CVD is very important and wearing PPG devices can identify Heart Rate and Heart Rate Variability which are indicators of worsening of the disease condition. All these factors are expected to boost PPG biosensors market growth.

The emergence of COVID-19 is expected to play a major role in the growth of the global market for PPG biosensors. COVID-19 is expected to cause irregularities of many clinical indicators that include blood-volume Saturation, Respiration Rate (RR), and other cardiac rhythm indicators.

By using PPG biosensors, it will be possible for doctors to monitor vital indicators of patients from a distant place that will also reduce the risk of infection to patients. All these factors augment the growth of the market for biosensors during the forecast period.

Industry Dynamics

Growth Drivers
The global market growth of PPG biosensors is driven by factors such as the rising number of CVD across the globe along with the increased focus on fitness among people. The advancement in technology and the non-invasive nature of PPG biosensors are further expected to propel the growth of the market for biosensors during the forecast period.

There is a continuous evolution in PPG biosensor technology that has resulted in the development of many new devices that will increase the efficiency and accuracy of the biosensors. In recent years biosensors integrated with artificial intelligence (AI) have been developed. For instance, in 2019, researchers have created an AI classifier that can identify a specific CVD named hypertrophic cardiomyopathy using a wearable wrist biosensor.

Machine learning classifier was developed by using data obtained from 19 patients with oHCM and 64 healthy controls. The wearable device has features such as a clinical-grade PPG sensor, accelerometer, and gyroscope, the wearable device and the collected hemodynamic data from the device are unique to oHCM patients.

Many new products are being launched in the market due to the popularity of the technology. For instance, in January 2019, Maxim Integrated launched the first integrated photoplethysmogram (PPG) biosensor module named MAX86150 for mobile devices. This is the first device that integrates PPG and ECG that has features that include internal LEDs and an ECG analog, FDA-certifiable PPG, including tablets, mobile phones, laptops, and smart speakers.

Xiaomi Mi Band 5 was launched with many new upgrades that include a larger OLED display, better HR monitoring, and magnetic charging, in June 2020. The Mi Band 5 is integrated with a PPG biosensor that is used for continuous monitoring of heart rate. The new wearable is 50% more accurate in monitoring irregular heart rates.

PPG Biosensors Market
Know more about this reportrequest for sample pages

Report Segmentation

The market is primarily segmented on the basis of product, application, and region.

By Product

By Application

By Region

  • Pulse Oximeters
  • Smart Watches
  • Smart Wrist Bands
  • Others
  • Heart rate monitoring
  • Blood-oxygen saturation
  • Blood pressure
  • Others
  • North America (US, Canada)
  • Europe (Germany, UK, Italy, France, Spain, Austria, Netherlands)
  • Asia Pacific (China, Japan, India, Indonesia, Malaysia, South Korea)
  • Latin America (Brazil, Argentina, Mexico)
  • Middle East & Africa (Israel, Saudi Arabia, South Africa, UAE)

Know more about this reportrequest for sample pages

Insight by Product

The smartwatches biosensors segment dominated the biosensors market and generated the highest revenue in 2020. The extensive use of smartwatches by a consumer to monitor health conditions based on everyday activities has led to the segment growth of the biosensors industry.

Continuous technological advancement by biosensors market players is propelling the introduction of new smartwatches which further leads to the growth of the biosensors segment. The pulse oximeters segment is expected to grow at a high growth rate during the forecast timeframe owing to increasing cases of CVD, a rising market for wearable monitoring devices, and an upsurge in the elderly population.

Insight by Application

The heart rate monitoring segment dominated the market and generated the highest revenue in 2020. CVD is a leading cause of death across the globe and also increasing cases of CVD have increased the need for continual monitoring. PPG is commonly found in smart wearables with heart rate monitors, which has led to increased market segment growth.

The blood-oxygen saturation segment is predicted to grow strongly during the forecast timeframe owing to the increasing advancements that will aid the widespread use of PPG in detecting blood-oxygen saturation levels, resulting in the expansion of the global market. For instance, Maxim Integrated Products unveiled the MAXREFDES103, a novel wrist-based device specially intended for continual check of blood oxygen saturation (SpO2) levels and heart-rate variability, in February 2020.

Geographic Overview

North America dominated the market for PPG biosensors and generated the highest revenue in 2020, owing to the increasing adoption of advanced technologies in healthcare. Nearly 48% of the U.S. population suffers from some form of CVD that requires constant monitoring and many PPG are being approved by FDA in recent years will boost the growth of the biosensors market in the region.

Asia Pacific will be the fastest-growing region for the global biosensors market during the forecast period owing to the increasing burden of CVD in countries like India and China. The number of CVD-associated deaths in India has increased to 4.77 million in 2020 from 2.26 million, in 1990.

Hence, in developing countries advanced technologies are being adopted by people due to the rising awareness and economic stability. The increasing penetration of smartwatches in emerging economies and increasing incorporation of the PPG technology into their wearable technologies by few vendors will further drive market growth for PPG biosensors.

Competitive Insight

The major players in the biosensors market are investing heavily in R&D to innovate new biosensor technology for the better management and monitoring of diseases. Companies are launching new products and are entering into collaborations to increase their presence in the global market. Some of the major players operating in the market include Murata Manufacturing Co., Silicon Laboratories, Maxim Integrated, Valencell. Inc., Ltd., Mediatek, and ams AG.

PPG Biosensors Market Report Scope

Report Attributes


Market size value in 2020

USD 344.3 million

Revenue forecast in 2028

USD 827.3 million


12% from 2021 - 2028

Base year


Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Segments covered

By Product, By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key Companies

Murata Manufacturing Co., Silicon Laboratories, Maxim Integrated, Valencell. Inc., Ltd., Mediatek, and ams AG.