Market Research Report
Sensor Patch Market by Product (Temperature, Blood Glucose, Blood Pressure/Flow, Heart Rate, ECG, Blood Oxygen), Application (Monitoring, Diagnostics), End-User Industry (Healthcare, and Fitness and Sports), and Geography - Global Forecast to 2023
|Published by||MarketsandMarkets||Product code||542620|
|Published||Content info||144 Pages
|Sensor Patch Market by Product (Temperature, Blood Glucose, Blood Pressure/Flow, Heart Rate, ECG, Blood Oxygen), Application (Monitoring, Diagnostics), End-User Industry (Healthcare, and Fitness and Sports), and Geography - Global Forecast to 2023|
|Published: August 10, 2017||Content info: 144 Pages||
The sensor patch market has entered the growth phase and is expected to grow further in the coming years. The market is expected to be worth USD 562.1 million by 2023, at a CAGR of 47.03% between 2017 and 2023. The drivers for this market are increasing per capita healthcare expenditure and disposable incomes in OECD countries, consumer preference for wearable in health monitoring application, and comfortability offered by sensor patch. The main restraint for this market is Health Insurance Portability and Accountability Act (HIPAA) compliances.
The ECG sensor patch market is expected to grow at the highest CAGR during the forecast period. One of the major reasons why ECG sensor patch would drive the market is the rising consumer awareness for wearable devices primarily for fitness applications. Flexible, lightweight, and connected sensor patches offer convenience to sports players and athletes. Sports players and athletes can manage to intensify their performance. Individuals can reach their personal fitness goals by tracking heart rate to maintain the right intensity of work out by using sensor patch. Moreover, the healthcare industry is expected to drive the use of ECG sensor patch owing to its wireless connectivity that would drive the convenience to patients during sleep, personal hygiene, or medical care.
The sensor patches are widely adopted for monitoring purposes in the healthcare, and fitness and sports industry. Healthcare is gaining traction with the use of sensor patch for communication between doctors and medical staff, hospital or medical institution, and the wearer of sensor patch to track and monitor the health of the patients. Also, the value added by sensor patch in sports to help athletes train, perform, and recover from injuries is driving the monitoring application. Moreover, the increasing average life expectancy of the population worldwide, coupled with the aggravated prevalence of heart-related diseases and diabetes, is driving the market for the monitoring application.
Being the most populated region in the world, the market in APAC is mainly driven by increasing per capita healthcare expenditure and disposable incomes. Furthermore, factors such as urbanization, individuals' acceptance of innovative technologies, and popularity of wearables and in-home healthcare services are responsible for the growth of the sensor patch market in this region.
The major players profiled in this report include:
The study segments in the sensor patch market report are products-includes temperature sensor patch, blood glucose sensor patch, blood pressure/flow sensor patch, heart rate sensor patch, ECG sensor patch, blood oxygen sensor patch, and others-and applications-covering monitoring, diagnostics. The study also covers end-user industries, and geographic forecast of the market size for various segments with regard to four main regions-North America, Europe, APAC, and RoW.
The report would help the market leaders/new entrants in this market in the following ways:
Top 25 Companies analyzed across the ecosystem are - Abbott Laboratories (US), DexCom, Inc. (US), Feeligreen SA (France), Frontier Smart Technologies Group Ltd. (UK), Gentag, Inc. (US), G-Tech Medical, Inc. (US), HIVOX BIOTEK INC. (Taiwan), Hocoma AG (Switzerland), iRhythm Technologies, Inc. (US), Isansys Lifecare Ltd. (UK), Kenzen, Inc. (US), Leaf Healthcare, Inc. (US), MC 10, Inc. (US), Medtronic plc (Ireland), MTG Co.,Ltd. (Japan), NanoSonic, Inc. (US), Nemaura Medical Inc. (UK), Preventice Solutions, Inc. (US), Proteus Digital Health, Inc. (US), Raiing Medical Company (China), Sensium Healthcare Ltd. (UK), SMARTRAC N.V. (The Netherlands), Texas Instruments Incorporated (US), VitalConnect, Inc. (US), X2. Biosystems Inc. (US)
*Details on Business Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments, Key relationships might not be captured in case of unlisted companies.