23-Feb-2021 | Zion Market Research
As per Zion Market Research, the global sensor patch market was capitalized for USD 76.2 million in 2019 and is estimated to reach USD 1610 million by the end of 2025, developing at a CAGR of over 46.3% during the forecasted period 2019–2025. The sensor patch is specially designed to estimate dampness conditions in various medical areas such as long haul therapeutic care, geriatric care, and childcare amongst others. The sensor patches are widely adopted in various enterprises, for example, human services, and wellness & games. With the advancement in innovation, the sensor patches are at present accessible that can compile the patient data to uplift diagnostics and preparatory care.
Some of the key players in the market are DexCom, Inc.; Feeligreen SA; Abbott Laboratories; Gentag, Inc.; Frontier Smart Technologies Group Ltd.; HIVOX BIOTEK INC.; G-Tech Medical, Inc.; iRhythm Technologies, Inc.; Hocoma AG; Kenzen, Inc.; Isansys Lifecare Ltd.; MC 10, Inc.; Leaf Healthcare, Inc.; MTG Co., Ltd.; and Medtronic plc.
Rising Inclination For Wearable Gadgets For Medical Monitoring To Boost The Global Sensor Patch Market
The parameters adding to the expansion of the sensor patch market are increased use in the social insurance section, augmented dispensable income in the OECD (Organisation for Economic Co-operation and Development) nations, growing shopper preference for wearable gadgets for medical monitoring, and growing awareness about telehealth. In addition, the surging demand for restorative patches from various applications, for example, health and diagnosis of diseases such as diabetes, malignancy, circulatory strain and cardiovascular disarranges is likely to aid the development of the market. On the contrary, factors such as high cost and different medical coverage problems are hampering the expansion of the sensor patch market. Furthermore, the development of different analytic innovations is dependent upon the expansion of the sensor patch market over the coming years.
The global sensor patch market is bifurcated on the basis of the product type, applications, end-user, and regional analysis. Based on the product type, the market is divided into blood glucose sensor patch, temperature sensor patch, blood oxygen sensor patch, ECG sensor patch, heart rate sensor patch, blood pressure/flow sensor patch, and others. Based on the applications, the market is divided into diagnostics, monitoring, and wellness. Based on the end-user, the market is divided into fitness, healthcare, and sports.
The Asia Pacific Region Expected To Witness Massive Growth In The Global Sensor Patch Market
Based on geographical analysis, the global sensor patch market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The growth of the sensor patch market across the Asia Pacific region is chiefly determined by per capita medical services use and increasing dispensable wages. In addition, factors such as augmenting urbanization, consumer inclination toward innovations, and popularity of wearables among people are expected to boost the expansion of the sensor patch market across this region in the forecasted period.
Browse the full “Sensor Patch Market - By Product Type (Blood Glucose Sensor Patch, Temperature Sensor Patch, Heart Rate Sensor Patch, Blood Pressure/Flow Sensor Patch, Blood Oxygen Sensor Patch, ECG Sensor Patch, And Others), By Applications (Diagnostics, Monitoring, And Wellness), By End-User (Fitness, Healthcare, And Sports), And By Region - Global Industry Perspective, Comprehensive Analysis, And Forecast, 2019 – 2025.” Report at https://www.zionmarketresearch.com/report/sensor-patch-market
The global sensor patch market is segmented as follows:
By product type:
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