Dublin, Feb. 23, 2022 (GLOBE NEWSWIRE) -- The "Global Sensor Patch Market Outlook 2020: Global Opportunity and Demand Analysis, Market Forecast, 2019-2028" report has been added to ResearchAndMarkets.com's offering.
The global sensor patch market accounted for USD 72.9 million in 2018 to an estimated value of USD 1633 million by 2026 growing at a CAGR of 47.5% during the forecast period of 2019 to 2028.
The upcoming market report contains data for the historic year 2017 the base year of calculation is 2018 and the forecast period is 2019 to 2028. Sensor patches are passive UHF, single-chip RFID sensors are used to measure moisture conditions in medical care areas. These devices are mostly used in geriatric care, child care, and medical long-term care. In this market, drivers included such as rising health care expenditure and increasing adoption of wearables in a health monitoring application.
Top Driver:
Technological advancements in ECG sensor patch and new product launch is expected to propel the market growth
The increasing focus of researchers on monitoring various body parameters is expected to augment the market growth over the forecast period. in 2016, engineers at the University of California, San Diego developed the first flexible wearable device that records ECG heart signals and tracks levels of lactate, a biochemical that is a marker of physical effort, in real-time. Rising strategic acquisitions and collaborations by market players for expanding their offerings in the market are expected to bolster the market growth. For instance, in January 2019, Medtronic Plc. announced to acquire EPIX Therapeutics, Inc. The acquisition is expected to expand Medtronic's cardiac ablation portfolio for treating the patient with cardiac arrhythmia.
Blood glucose sensor patch to Make Crucial Contribution for Growth of Global Sensor Patch
The blood glucose sensor patch segment held the largest size of the sensor patch market. Many patients with diabetes are advised to monitor blood glucose regularly. The monitoring of blood glucose is essential as a sudden increase in the level of glucose causes hyperglycemia, while a sudden decrease can cause hypoglycemia, thereby leading to several complications, including cardiac or vascular events (heart attacks or strokes), kidney problems, eye problems, etc. Regular monitoring of glucose levels is essential to keep diabetes under control. The demand for self-testing devices is driving the market.
The growing number of diagnostic tests for COVID-19 has resulted in the need for integration of this data into health information systems (HIS). The increasing incidences of chronic diseases and the rising geriatric population have resulted in the increasing number of diagnostic procedures performed globally. Sensor patches are now being accepted in the healthcare industry for diagnostics applications as the current and historical data gathered by sensor patches assist clinicians with precise diagnostics. The scope for diagnostics sensor patches in childcare is increasing as infants cannot communicate about their health status.
North America dominated to witness the fastest growth in Global Sensor Patch
North America holds the dominant position in the global ECG sensor patch market over the forecast period, owing to the increasing prevalence of atrial fibrillation and other cardiac conditions. According to American Heart Association, in 2016, stroke was a leading cause of death in the U.S. with around 2.7 million people in the country living with atrial fibrillation and around 800,000 suffering from a stroke, annually. It was due to blocks or bursts in the blood vessel that supplies blood to the brain. Therefore, the increasing prevalence of atrial fibrillation boosts the growth of the global ECG sensor patch market
Key Reasons to Purchase this Report
1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders a definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.
Key Topics Covered:
Chapter 1 Overview And Scope
1.1 Market Vision
1.1.1 Market Definition
1.1.2 Market Scope
1.2 Market Segmentation
Chapter 2 Our Research Practice
2.1 Our Research Methodology
2.2 Data Triangulation
2.3 Data Sources
2.4 Assumptions for the study
2.5 Approach Adopted
Chapter 3 Executive Summary
3.1 Market Snapshot
3.2 Regional Snapshot
3.3 Segment Summary
Chapter 4 Covid-19 Impact Analysis
4.1 Overview
4.2 Prevalence analysis
4.3 Key Factor Impact Analysis
Chapter 5 Global Sensor Patch Market Forces
5.1 What's Driving the Market
5.2 Porter's Five Forces Analysis
5.2.1 Power of Suppliers
5.2.2 Threats From New Entrants
5.2.3 Power of Buyer
5.2.4 Threat From Substitute Product
5.2.5 Degree of Competition
Chapter 6 Global Sensor Patch Market -Industry Snapshots
6.1 Overview
6.1.1 Global Sensor Patch Market Value, 2019 - 2028, (US$ Bn)
6.2 Market Overview
6.2.1 Drivers Analysis
6.2.2 Restraint/Challenges analysis
6.2.3 Opportunity Analysis
6.3 Supply Chain/Value Chain Analysis
6.4 Market SWOT Analysis
Chapter 7 Global Sensor Patch Market Analysis, by Type
7.1 Overview
7.2 Key Findings for Sensor Patch Market- By Type
7.2.1 Sensor Patch Market- Temperature Sensor Patch
7.2.2 Sensor Patch Market- Blood Glucose Sensor Patch
Sensor Patch market by Type 2, 2019 - 2028 (USD Million)
7.2.3 Sensor Patch Market- Blood Pressure/Flow Sensor Patch
Sensor Patch market by Type 3, 2019 - 2028 (USD Million)
Chapter 8 Global Sensor Patch Market Analysis, by Application
8.1 Overview
8.2 Key Findings for Sensor Patch Market- By Application
8.2.1 Sensor Patch Market- Monitoring
8.2.2 Sensor Patch Market- Diagnostics
8.2.3 Sensor Patch Market- Medical Therapeutics
Chapter 9 Global Sensor Patch Market Analysis, by End User
9.1 Overview
9.2 Key Findings for Sensor Patch Market- By End User
9.2.1 Sensor Patch Market- Healthcare
Sensor Patch market by End User 1, 2019 - 2028 (USD Million)
9.2.2 Sensor Patch Market- Fitness & sports
Chapter 10 Sensor Patch Market Analysis by Region
10.1 Key Findings for Sensor Patch Market- By region
10.2 Overview
10.2.1 Global Sensor Patch Market Analysis, By Type, 2019 - 2028
10.2.2 Global Sensor Patch Market Analysis, By Product Type, 2019 - 2028
10.2.3 Global Sensor Patch Market Analysis, By End User, 2019 - 2028
10.3 Sensor Patch Market - North America
10.3.1 Overview
10.3.2 U.S.
10.3.3 Canada
10.3.4 Mexico
10.3.5 North America Market, By Type
10.3.6 North America Market, By Product Type
10.3.7 North America Market, By End User
10.4 Sensor Patch Market - Europe
10.4.1 Overview
10.4.2 Germany
10.4.3 United Kingdom
10.4.4 France
10.4.5 Italy
10.4.6 Rest Of Europe
10.4.7 Europe Market, By Type
10.4.8 Europe Market, By Product Type
10.4.9 Europe market by, End User
10.5 Sensor Patch Market - Asia Pacific
10.5.1 Overview
10.5.2 China
10.5.3 Japan
10.5.4 India
10.5.5 Rest of APAC
10.5.6 Asia Pacific Market, By Type
10.5.7 Asia Pacific Market, By Product Type
10.5.8 Asia Pacific Market, By End User
10.6 Sensor Patch Market - SAMEA
10.6.1 Overview
10.6.2 Middle East & Africa (MEA)
10.6.3 South America
10.6.4 Rest Of World
10.6.5 South America, Middle East and Africa Market, By Type
10.6.6 South America, Middle East and Africa Market, By Product Type
10.6.7 South America, Middle East and Africa Market, By End User
Chapter 11 Market Competition Analysis
11.1 Market Share/Positioning Analysis
11.1.1 Market Positioning of Key Vendors, 2019
11.1.2 Key Strategies Adopted by the Leading Players
11.1.3 Recent Developments
Chapter 12 Company Profiles- Snapshot
12.1 Raiing Medical Company (China)
12.1.1 Business Fundamentals
12.1.2 Financial Snapshots
12.1.3 Product Portfolio
12.1.4 Recent Developments
12.2 Humavox Ltd. (Israel)
12.3 Vpatch Cardio Pty Ltd. (Australia)
12.4 Hocoma AG (Switzerland)
12.5 Smartrac N.V. (Netherlands)
12.6 Isansys Lifecare Ltd. (UK)
12.7 Leaf Healthcare, Inc. (US)
12.8 Masimo Corporation (US)
12.9 Hivox Biotek Inc. (Taiwan)
12.10 NanoSonic, Inc. (US), MC10, Inc. (US)
Chapter 13 Appendix
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