Market Insights Digital Digital Health Digital Treatment & Care

Connected Biosensors - Norway

Norway

Revenue in the Connected Biosensors in Norway is projected to reach €24.61m in 2024.
The market is expected to show an annual growth rate (CAGR 2024-2029) of 4.93%, resulting in a projected market volume of €31.31m by 2029.
User penetration in Norway will be 3.34% in 2024 and is expected to reach 3.39% by 2029.
The average revenue per user (ARPU) in Norway is expected to be €133.70.
In global comparison, China is projected to generate the most revenue in the Connected Biosensors, with €4,166.00m in 2024.
Norway's strong focus on digital health and high adoption of connected biometric sensors make it a leading market in this market.

Key regions: Italy, Germany, France, United Kingdom, India

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Analyst Opinion

The Connected Biosensors market in Norway is experiencing a significant growth trajectory with an increasing demand for smart thermometers, smart blood glucose meters, smart blood pressure meters, and social alarms.

Customer preferences: Norwegian consumers are increasingly leaning towards connected biosensors that offer convenience, accuracy, and real-time data tracking capabilities. The preference for smart devices that can seamlessly integrate with smartphones and other digital platforms is driving the adoption of connected biosensors in the country. Moreover, the emphasis on health and wellness among the population is fueling the demand for advanced biosensor technologies that can provide personalized health insights.

Trends in the market: In Norway, the connected biosensors market is witnessing a trend towards wearable devices that offer continuous monitoring of vital health parameters. Smart thermometers that can remotely track body temperature and detect early signs of illness are gaining popularity among tech-savvy consumers. Similarly, smart blood glucose meters and blood pressure monitors that enable individuals to monitor their health status regularly are in high demand. The integration of social alarms in connected biosensors for the elderly population is also a growing trend in the Norwegian market, providing safety and security features for seniors living independently.

Local special circumstances: Norway's strong focus on healthcare innovation and digitalization is a key driver for the growth of the connected biosensors market in the country. The government's initiatives to promote e-health solutions and remote patient monitoring are creating a conducive environment for the adoption of connected biosensors. Additionally, the high level of awareness about preventive healthcare measures among Norwegians is propelling the demand for advanced biosensor technologies that can empower individuals to take control of their health.

Underlying macroeconomic factors: The robust economy of Norway, coupled with high disposable incomes and a well-developed healthcare infrastructure, is contributing to the growth of the connected biosensors market. The increasing healthcare expenditure and investments in digital health technologies are further bolstering the market expansion. Additionally, the aging population in Norway is driving the need for innovative healthcare solutions, including connected biosensors that can cater to the specific needs of elderly individuals.

Methodology

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.