Sensor Patch - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Sensor Patch Market is accounted for $0.86 billion in 2019 and is expected to reach $11.62 billion by 2027 growing at a CAGR of 38.5% during the forecast period. Increasing awareness about telehealth, rising per capita income in healthcare and high demand for portable medical devices and wearable sensors are some of the factors propelling the growth of the market. However, high cost related to diagnoses and various health insurance issues is hampering the growth of the market.
Sensor patches are the type of adhesive patches attached to the body and they help to monitor and diagnose the condition of an individual. Sensor patch is passive UHF, single-chip RFID sensor specially designed to measure moisture conditions in various medical care areas such as geriatric care, long-term medical care, and childcare among others.
Based on the application, the diagnostics segment is anticipated to hold considerable market share during the forecast period due to the increasing number of diagnostic tests for COVID-19 for the integration of the data into health information systems and the increasing number of diagnostic procedures performed globally because of increasing incidences of chronic diseases and the rising geriatric population. By geography, North America is expected to grow at a significant market share during the forecast period owing to the presence of prominent players, increasing investment in R&D activities for the development of advanced monitoring devices, high disposable incomes, and growing adoption of new technology among consumers.
Some of the key players profiled in the Sensor Patch Market include Hocoma AG, Texas Instruments Inc., Smartrac N.V., Proteus Digital Health, Inc., iRhythm Technologies, Inc., NanoSonic, Inc., Medtronic PLC, Vpatch Cardio Pty Ltd., Masimo Corporation, Leaf Healthcare, Inc., Kenzen, Inc., Isansys Lifecare Ltd., MC10, Inc., Humavox Ltd, Preventice Solutions, Inc., Hivox Biotek Inc., Gentag, Inc., DexCom, Inc., Abbott Laboratories, and VitalConnect, Inc.
Product Types Covered:
• Blood Pressure/Flow Sensor Patch
• Heart Rate Sensor Patch
• Blood Oxygen Sensor Patch
• ECG Sensor Patch
• Temperature Sensor Patch
• Blood Glucose Sensor Patch
• Other Product Types
Wearable Types Covered:
• Medical Therapeutics
End Users Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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