Market Insights Digital Digital Health Digital Treatment & Care

Connected Biosensors - New Zealand

New Zealand

The market Connected Biosensors in New Zealand is projected to generate a revenue of €18.99m in 2024.
It is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 4.91%, resulting in a projected market volume of €24.13m by 2029.
The user penetration rate is anticipated to be 3.40% in 2024 and is expected to increase to 3.47% by 2029.
The average revenue per user (ARPU) is projected to be €106.10.
In the global perspective, China is predicted to generate the highest revenue in the Connected Biosensors, amounting to €4,123.00m in 2024.
New Zealand's digital health market is witnessing a surge in demand for connected biometric sensors, driven by the country's focus on advanced healthcare solutions and technological innovations.

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

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Analyst Opinion

The Connected Biosensors market in New Zealand is experiencing significant growth and evolution driven by changing consumer preferences, technological advancements, and unique local circumstances.

Customer preferences: Consumers in New Zealand are increasingly gravitating 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 become more health-conscious and seek proactive ways to monitor their well-being.

Trends in the market: One prominent trend in the New Zealand market is the integration of connected biosensors with smartphone applications and wearable devices. This seamless connectivity allows users to track and analyze their health metrics easily, leading to a more holistic approach to healthcare management. Additionally, there is a growing trend towards the development of user-friendly interfaces and personalized health insights to enhance the overall user experience.

Local special circumstances: New Zealand's unique geography and dispersed population present challenges for traditional healthcare delivery. Connected biosensors offer a solution by enabling remote monitoring and telehealth services, particularly beneficial for individuals living in rural or isolated areas. The country's focus on promoting digital health initiatives further propels the adoption of these innovative technologies.

Underlying macroeconomic factors: The increasing prevalence of chronic diseases, such as diabetes and hypertension, in New Zealand is driving the demand for connected biosensors that can help individuals manage these conditions more effectively. Additionally, government initiatives aimed at promoting preventive healthcare and reducing healthcare costs are creating a favorable environment for the growth of the connected biosensors market in the country. The rising healthcare expenditure and emphasis on improving healthcare access and outcomes further support the expansion of this market segment in New Zealand.

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.