The new report by Expert Market Research titled, ‘Global Galvanic Skin Response Sensor Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global galvanic skin response sensor market size, assessing the market based on its segments like device types, end uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 8.3%
The increasing application of these sensors in the healthcare units such as hospitals and research institutes, owing to the increasing investments towards automation, are driving the market growth. The increasing development of research institutes aimed towards exploring the knowledge base of electro-dermic activities is further bolstering the demand for the product.
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Moreover, the increasing disposable income and health awareness among the middle-class population are bolstering the demand for galvanic skin response sensors in the homecare settings. In terms of region, North America accounts for a significant share of the market owing to the high healthcare expenditure across countries like the United States of America.
Galvanic Skin Response Sensor Industry Definition and Major Segments
Galvanic skin response sensor is defined as a medical device which is used to detect changes in electrodermal activity which results from the changes in sweat glands. These devices are cheap and safe for human use. Moreover, the physiological and psychological arousal are detected by these devices.
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On the basis of device type, the market can be segmented into:
Based on end use, the market has been segmented into:
- Research Institutes
- Diagnostic Centres
- Homecare Settings
The regional markets for galvanic skin response sensor include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Galvanic Skin Response Sensor Market Trends
The key trends in the galvanic skin response sensor market include the technological advancements of the product owing to the rising demand for advanced biosensors, microelectronic devices, and smart textiles, among others, for greater efficiency of dermatology-related activities. For instance, the smartwatches and wearables are likely to witness a significant demand from the healthcare units.
Increasing dependence and popularity of internet of things (IoT) in hospitals and research institutes are also contributing to the market growth. Over the forecast period, the increasing awareness pertaining to the physiological and psychological health is anticipated to be a crucial trend in the market. Furthermore, the increasing number of medical device start-ups is likely to provide impetus to the market growth.
Key Market Players
The major players in the market are:
- Maxim Integrated Products Inc.
- Mindfield Biosystems Ltd.
- Shimmer Research Ltd
- Brain Support Corporation
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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