PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1822293
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1822293
The global sensor patch market is projected to grow from 6.32 billion in 2025 to USD 23.91 billion by 2030, at a CAGR of 30.5%.
Scope of the Report | |
---|---|
Years Considered for the Study | 2021-2030 |
Base Year | 2024 |
Forecast Period | 2025-2030 |
Units Considered | Value (USD Billion) |
Segments | By Technology, Product Type, Wearable Type, Application, End-use Industry, and Region |
Regions covered | North America, Europe, APAC, RoW |
The growth in the market is attributed to the increasing use of sensor patches to monitor glucose levels in individuals with diabetes, the increasing elderly population, and the rising adoption of wireless mobile healthcare systems. Additionally, the growing trend of telehealth is boosting market growth. Wearable sensor patches find increasing opportunities for continuously monitoring patients' vital signs, premature infants, children, athletes, or fitness buffs, and individuals in remote areas far from medical and health services.
"Blood glucose sensor patch segment to account for significant market share in 2030"
Blood glucose sensor patches measure glucose concentration in blood or sweat. These patches are designed for diabetic patients, runners, cyclists, athletes, and players to keep track of their blood glucose levels. Diabetic patients who use insulin monitor their glucose levels in their blood to determine the requirement for the next insulin dose. Blood glucose sensor patches find applications in blood glucose and cholesterol testing, as well as for testing drug abuse, infectious diseases, and pregnancy. Some major manufacturers of blood glucose monitors and blood glucose sensors include Medtronic (US) and Abbott Laboratories. (US), and DexCom, Inc. (US).
"Bodywear segment to capture largest share of sensor patch market throughout forecast period"
Bodywear includes armwear, chest patches, and sensor-based contact lenses. Armwear patches are used for various healthcare applications, such as measuring and monitoring blood pressure, body temperature, and heart rate. These devices can be connected to iOS or Android phones via Bluetooth. Chest straps are worn on the chest to monitor the heart rate while running. Athletes and fitness-conscious people use these devices. Also, some sensors can measure the sodium level in sweat and determine the sweat rate directly from the skin. Smart contact lenses consist of a wireless chip, which diabetes patients use. These lenses are used to monitor the glucose level in tears. Google Inc. (US) and Novartis AG (Switzerland) are working to manufacture smart contact lenses that monitor blood sugar levels and correct vision.
"China to hold largest share of Asia Pacific sensor patch market in 2030"
The presence of a vast population base in China and the implementation of government initiatives focusing on developing a modern healthcare system and corresponding reimbursement facilities are the major factors promoting the growth of the sensor patch market in the country. Other factors driving the sensor patch market in China include fast economic growth, a growing aging population, and government efforts to create better healthcare services. Many multinational corporations (MNCs) exporters and producers in China have adopted strategies such as acquisitions or partnerships that help in reliable domestic distribution and service infrastructure. With the aging population, there would be a considerable increase in the incidence rates of various disorders, including heart diseases.
Extensive primary interviews were conducted with key industry experts in the sensor patch market space to determine and verify the market size for various segments and subsegments gathered through secondary research. The breakup of primary participants for the report is shown below: The study contains insights from various industry experts, from component suppliers to tier 1
Note: Three tiers of companies are defined based on their total revenue as of 2024; tier 1: revenue more than or equal to USD 500 million, tier 2: revenue between USD 100 million and USD 500 million, and tier 3: revenue less than or equal to USD 100 million. Other designations include sales and marketing executives, researchers, and members of various sensor patch organizations.
Abbott Laboratories (US), Medtronic PLC (Ireland), DexCom, Inc. (US), iRhythm Technologies, Inc. (US), Texas Instruments Incorporated (US), Masimo (US), GENTAG, Inc. (US), Koninklijke Philips N.V. (Netherlands), Senseonics, Inc. (US), and Boston Scientific Corporation (US) are some key players in the sensor patch market.
The study includes an in-depth competitive analysis of these key players in the sensor patch market, with their company profiles, recent developments, and key market strategies.
This research report categorizes the sensor patch market based on wearable type (bodywear, neckwear, footwear, wristwear), product type (temperature, blood glucose, blood pressure, heart rate, ECG, blood oxygen, and other product types (stress monitoring patches, sweat monitoring sensor patches, and position and motion sensor patches), technology (amperometric, potentiometric, conductometric) application (monitoring, diagnostics, medical therapeutics), end-use industry (healthcare, fitness & sports), and region (North America, Europe, Asia Pacific, and RoW). The report describes the major drivers, restraints, challenges, and opportunities pertaining to the sensor patch market and forecasts the same till 2030. The report also consists of leadership mapping and analysis of all companies in the sensor patch ecosystem.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market by providing information on the closest approximations of the revenue numbers for the overall sensor patch market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.