Connected Biosensors - Italy

Italy

Highlights

In Italy, the market of Connected Biosensors is anticipated to witness a substantial growth in the coming years.
According to projections, the revenue is expected to reach US$315.40m by 2024.
Moreover, it is estimated that the market volume will expand at an annual growth rate of 2.66% (CAGR 2024-2029), resulting in a projected market size of US$359.70m by 2029.
As for user penetration, it is forecasted to be 5.27% in 2024 and is expected to increase to 5.63% by 2029.
The average revenue per user (ARPU) in this market is projected to be US$102.00.
In a global context, China is anticipated to generate the highest revenue in this sector, with an estimated revenue of US$4.49bn in 2024.
Italy leads the way in the adoption of connected biometric sensors in the digital health market, with a strong emphasis on integrating these devices into the national healthcare system.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Connected Biosensors market in Italy is showing promising growth and innovation.

Customer preferences: Italian consumers are increasingly leaning towards connected biosensors due to their convenience, accuracy, and ability to provide real-time health data. The demand for smart thermometers, blood glucose meters, blood pressure meters, and social alarms is on the rise as individuals prioritize proactive health monitoring and management.

Trends in the market: In Italy, there is a noticeable trend towards the integration of connected biosensors with mobile applications and wearable devices. This integration allows users to easily track and analyze their health metrics, leading to a more holistic approach to wellness. Additionally, there is a growing focus on the development of user-friendly interfaces and customizable features to cater to the diverse needs of the Italian market.

Local special circumstances: Italy's aging population and increasing prevalence of chronic diseases are driving the adoption of connected biosensors. With a higher proportion of elderly individuals requiring regular health monitoring, the demand for smart healthcare devices is escalating. Furthermore, the Italian healthcare system's emphasis on preventive care is encouraging individuals to invest in connected biosensors to actively manage their health.

Underlying macroeconomic factors: The growing healthcare expenditure in Italy, coupled with advancements in technology and increasing awareness about the benefits of connected biosensors, is fueling market expansion. Moreover, the government's initiatives to promote digital health solutions and remote patient monitoring are creating a conducive environment for the growth of the connected biosensors market in the country.

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenues and user data of relevant mobile applications and consumer electronics companies.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, internet penetration, smartphone penetration, consumer spending, and healthcare spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.