Market Insights Digital Digital Health Digital Treatment & Care

Connected Biosensors - Thailand

Thailand

The revenue in the market of Connected Biosensors in Thailand is projected to reach €108.90m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 5.69%, resulting in a projected market volume of €143.60m by 2029.
The user penetration in Thailand is expected to be 2.37% in 2024 and is projected to reach 2.48% by 2029.
The average revenue per user (ARPU) in Thailand is expected to amount to €63.82.
In global comparison, China is projected to generate the highest revenue in the Connected Biosensors, with €4,123.00m in 2024.
Thailand's growing digital health market is witnessing a surge in adoption of connected biometric sensors for remote patient monitoring.

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

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Analyst Opinion

The Connected Biosensors market in Thailand is experiencing significant growth and evolution, driven by various factors shaping the demand and adoption of smart healthcare devices in the country.

Customer preferences: Thai consumers are increasingly seeking convenient and user-friendly healthcare solutions, leading to a rising preference for Connected Biosensors such as smart thermometers, blood glucose meters, blood pressure meters, and social alarms. The demand for these devices is fueled by the growing awareness of health monitoring and the desire for real-time data tracking to manage personal well-being effectively.

Trends in the market: In Thailand, there is a notable trend towards the integration of Connected Biosensors with mobile applications and online platforms, allowing users to monitor their health data remotely and share information with healthcare providers. This trend is driven by the country's expanding digital infrastructure and the popularity of smartphones, making it easier for individuals to access and interpret their health metrics on-the-go.

Local special circumstances: One of the key drivers of the Connected Biosensors market in Thailand is the government's focus on promoting digital healthcare initiatives and telemedicine services. This support creates a favorable environment for the adoption of smart healthcare devices, as policymakers aim to improve healthcare accessibility and efficiency across the country. Additionally, the increasing aging population in Thailand is contributing to the demand for Connected Biosensors, as older adults seek ways to manage their health proactively and independently.

Underlying macroeconomic factors: The economic development and rising disposable income levels in Thailand are playing a crucial role in the expansion of the Connected Biosensors market. As more consumers have the financial means to invest in health and wellness products, the affordability and availability of smart healthcare devices become key drivers of market growth. Furthermore, the competitive landscape among healthcare device manufacturers and technology companies is fostering innovation and driving down prices, making Connected Biosensors more accessible to a broader segment of the population.

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.