Industry Outlook

The Electrodermal activity detecting devices market is set project promising growth at a compounded annual growth rate (CAGR) of 8.7% during the forecast period from 2023 to 2030. Electodermal activity detection is also known as galvanic skin response employs sensors for measuring and detecting human stress and different emotional activities. The important parameters assessed by employing EDA devices are arousal detection, emotional cartography, relaxation biofeedback etc.

"Rising prevalence of mental disorders and increasing demand for creating novel technologies to measure sudomotor nerve activities drives the psychological arousal market growth"

Electrodermal activity detecting (EDA) wearable devices are being widely employed in psychiatric medical studies to understand the various mental disorders and its early detection. Currently psychological awareness is dominating the application segment for electrodermal activity detecting devices market. Rising prevalence of mental disorders and increasing demand for creating novel technology to measure sudomotor nerve activities drives the psychological arousal market growth. The rationale behind the development of this EDA technology is to create an excellent human-machine interface to understand different emotional states and provide optimum mental health management. Under the influence of sympathetic nervous system the device measures the changes in skin conductivity by placing the electrodes at specific sites such as hand palms and feet soles etc. Physiological arousal will garner tremendous attention owing to increasing demand to understand risk perception associated with workers safety and decision-making process and drastically reduce profession-associated trauma and accident cases. 

"Existence of developed medical device industries and increasing public health awareness pertaining to electrodermal activity detecting wearable devices together drive the market growth in North America region"

North America is clearly spearheading the regional segment for the electrodermal activity detecting devices market representing a market share of 45%. The major criterions related to its overwhelming market growth are the establishment of developed medical device industries manufacturing state-of-the-art medical gadgets and increasing public health awareness pertaining to electrodermal activity detecting wearable devices. Europe is placed in the second position holding a share of 30% owing to the strategic collaboration between medical device companies and academic research institutes to develop technology pertaining to electrodermal activity detecting devices. European Medical Agency (EMA), has adopted a proactive role in granting early CE approval for medical devices used in medical diagnosis and monitoring mental activities. Asia Pacific currently holds 15% market share and is set to register impressive market growth during the forecast period owing to developing healthcare infrastructure and lucrative market opportunities for medical device manufacturers to establish subsidiaries.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Electrodermal Activity Detecting Devices market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Electrodermal Activity Detecting Devices market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Electrodermal Activity Detecting Devices market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Electrodermal Activity Detecting Devices market?
• Which is the largest regional market for Electrodermal Activity Detecting Devices market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Electrodermal Activity Detecting Devices market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Electrodermal Activity Detecting Devices market worldwide?