Connected Biosensors - Sweden

Sweden

Highlights

In Sweden, the market Connected Biosensors is expected to reach a revenue of US$48.53m in 2024.
The revenue is projected to grow at an annual rate of 3.37% from 2024 to 2029, resulting in a market volume of US$57.27m by 2029.
The user penetration is estimated to be 3.40% in 2024 and is expected to increase to 3.49% by 2029.
The average revenue per user (ARPU) is projected to be US$133.70.
In comparison to other countries, China is predicted to generate the highest revenue in the global market, amounting to US$4.49bn in 2024.
Sweden is leading the way in the adoption of connected biometric sensors in the digital health market, with innovative solutions and a strong focus on data privacy.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Connected Biosensors market in Sweden is experiencing a significant growth trajectory, driven by the increasing demand for smart healthcare devices that offer convenience and real-time health monitoring solutions.

Customer preferences: Swedish consumers are showing a strong inclination towards connected biosensors that provide accurate and instant health data. The preference for smart thermometers, blood glucose meters, blood pressure meters, and social alarms is on the rise as individuals seek to take control of their health and well-being. The convenience of monitoring vital health parameters remotely and the ability to share data with healthcare providers are key factors driving the adoption of connected biosensors in Sweden.

Trends in the market: In Sweden, there is a noticeable trend towards the integration of connected biosensors with mobile applications and wearable devices. This integration allows users to track their health data seamlessly and receive timely alerts or notifications. Smart blood glucose meters are gaining popularity among diabetic patients for their ability to provide continuous glucose monitoring and personalized insights. Similarly, smart blood pressure meters with advanced features such as irregular heartbeat detection are witnessing increased demand in the Swedish market. Social alarms that offer safety and security features for the elderly or individuals with medical conditions are also becoming more prevalent in Swedish households.

Local special circumstances: One of the key special circumstances influencing the Connected Biosensors market in Sweden is the country's strong focus on innovation and technology in the healthcare sector. Swedish companies are at the forefront of developing cutting-edge biosensor technologies that cater to the specific needs of the local population. The high level of digital literacy among Swedes and the efficient healthcare infrastructure further contribute to the rapid adoption of connected biosensors in the country.

Underlying macroeconomic factors: The growing aging population in Sweden, coupled with the increasing prevalence of chronic diseases, is driving the demand for connected biosensors that enable remote monitoring and proactive healthcare management. Government initiatives to promote digital health solutions and telemedicine services are also fueling the expansion of the Connected Biosensors market in the country. Additionally, the strong economy and high disposable income levels in Sweden support the affordability and accessibility of smart healthcare devices for a larger segment of the population.

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.