Korea Bioimpedance Sensor Market to Exceed USD 288.4 Mn by 2027 – Astute Analytica
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Bioimpedance devices help various activities, including the detection of edema, and cancerous tissues, the diagnosis of skin-related diseases, the monitoring of the brain and pulmonary function, impedance cardiography, and pneumography as they are non-invasive, inexpensive, portable, and user-friendly. The technology behind bioimpedance sensors is increasingly being used to create cutting-edge, non-invasive medical diagnostic tools. On a smaller scale, it is utilized in electroporation research as well as for the measurement, analysis, and imaging of individual cells, cell cultures, and suspensions. Furthermore, due to the requirement for high-frequency current and voltage management, bio-impedance sensors use more power than the majority of other bio-signal acquisition systems. Bioimpedance has the potential to be a significant component of wearable technology because of its relative dependability, electrode-based sensing principle, and wide range of applications. Additionally, these techniques are the cornerstone of numerous laboratory tools for cell culture monitoring and research on the population, motility, viability, and other mechanical properties of cells.
Market Growth Factors
The rising prevalence of chronic diseases nationwide and the rapid improvements in medical instrumentation and life science are the main drivers of the growth of the Korean bioimpedance sensor market. The need for bioimpedance sensors arose from the increased incidence of chronic disease and the rapid growth of the elderly population with illnesses that need prompt treatment. Every year, the National Health Insurance Review and Assessment Institute (HIRA) and the National Health Insurance Service conduct surveys on 12 diseases, including heart disease, diabetes, rheumatoid arthritis, and hypertension, which reveal an ongoing rise in patients and medical costs. As of 2019, there were 18,891,000 patients, an annual rise of 4% from 2015, while medical costs rose by 10.3% annually over that same time.
Clinical applications of bioimpedance-adaptable sensing technology include tracking bodily fluids, tracking gestures, and monitoring hemodynamic parameters. In addition, the availability of effective bioimpedance sensors built into high-performance health monitoring equipment further contributes to market growth. The widespread implementation of bioimpedance sensors in wearable technology is forecast to offer lucrative opportunities for the market.
The creation and use of sensor-based clothing for wearable biomedical monitoring systems are encouraged by developments in electronics, instrumentation, innovative textile materials, and textile-electronic integration techniques. However, a lack of fresh models, algorithms, and compact equipment will impede the market. Another obstacle to the development of portable bioimpedance devices is the absence of an appropriate electrode system for wearing applications.
Segmentation Overview
In 2021, in terms of type, the contact segment dominated the Korea bioimpedance sensors industry since it describes a factual result outcome. On the other hand, the non-contact segment will grow at the rate of 8.0% over the forecast years due to the lack of direct contact between the resonator and the body.
In 2021 in terms of application, the medical use segment acquired the highest share in the Korea bioimpedance sensor industry. Owing to the rising advancements in the domain of tissue engineering require the adoption of non-invasive, non-destructive, and real-time monitoring technologies for evaluating the properties and viability of cell cultures. On the other hand, the unique fitness tracking segment will exhibit the highest annual growth rate over the analysis years due to the rising number of wellness centers and fitness clubs and the increasing understanding of health and fitness across Korea.
Competitor Profile
OMRON Corporate, founded in 1933, provides healthcare, automation, and other associated goods and services. The corporation engages in industrial automation, business, healthcare, mechanical components, and social systems. It operates a number of units in Korea, including the industrial automation unit OMRON Electronics Korea Co., Ltd., and Healthcare-Omron Healthcare Korea Co., Ltd. Omron Corporate reported sales of US$ 5,788.3 million in 2020.
Analog Devices, Inc. designs, produces, and markets a wide range of high-performance analog, digital signal processing, and integrated circuits used in almost all types of electronic equipment. The business also has a number of subsidiaries, including Linear Technology GmbH, Linear Technology, Linear Semiconductor Sdn Bhd, etc.
Maxim Integrated, a US-based business, is currently a division of Analog Devices, Inc. The business segments where the corporation is active include automotive, healthcare, consumer, communications & data center, and industrial markets. The business conducts business worldwide, including in South Korea, India, China, the United Kingdom, the United States, and other nations. Additionally, the business reported revenue of US$ 2,632.5 Million in 2021.
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Competitors List
The leading competitors in the Korea bioimpedance sensor market are:
Maxim Integrated
Omron Corporate
Texas Instruments Incorporated
Baxter International Inc.
Analog Devices, Inc.
Other Prominent Players
Segmentation Outline
The Korea bioimpedance sensor market segmentation focuses on Type and Application.
By Type Segment
Contact Type
Non-Contact Type
By Application Segment
Personal Fitness Tracking
Medical Use
Others
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