Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The Global Sensor Patch Market is driving growth due to increasing wearable sensors and emerging geriatric population
The global sensor patch market expected to propel market growth by USD 8.2 billion, fueling CAGR in the forecast period from 2020-2027. The emerging demand for the global sensor patch market is fueling due to the changing quality of clinical healthcare services, emerging technology to enhance non-invasive medical treatment.
The sensor patch includes smaller sensor networks that can detect heart rate, breathing, and temperature. They can transfer data wirelessly and are soft enough to be attached to the chest of premature babies without damaging their fragile skin.
Therefore, soft and thin electronic system attached to the skin is causing a revolution in healthcare. Through senor patches, real-time monitoring is more comfortable as it detects health problems as soon as possible. When the patient is at home, the doctor will remotely monitor the patient's recovery.
Product Type overview in the Global Sensor Patch Market
Based on the product type, the global sensor patch market segment into Temperature, Blood Glucose, Blood Pressure, Heart Rate, ECG, & Blood Oxygen. The blood glucose segment estimated to dominate the maximum share of the global sensor patch market. The sweat extraction layer takes about 15 minutes to collect sweat, and glucose and pH measurements started after the relative humidity exceeds 80%. If the glucose concentration is detected to be too high, the heater will dissolve the shell and inject the metformin into the blood through the microneedle, thereby reducing the blood sugar level. Therefore, blood glucose sensor patches help in adjusting the PH of the sweat and lower blood sugar levels if necessary.
Application overview in the Global Sensor Patch Market
Based on application, the global sensor patch market classified into Monitoring, Diagnostics, Medical Therapeutics. The diagnostics segment dominated the largest market share in the global sensor patch market. It is mainly due to the rising chronic diseases in the geriatric population that have increased the adoption of diagnostic sensor patches. These sensor patches can stably collect specific physiological information under any circumstances, such as strenuous exercise and emergencies.
Wearable Type overview in the Global Sensor Patch Market
Based on the wearable type, the global sensor patch market segmented into Wristwear, Footwear, Neckwear, Bodywear. Bodywear sensor patch segment dominating the largest market share in the global sensor patch market. The demand for bodywear sensor patches is increasing owes to the need for monitoring and tracking the medical record of patients. The bodywear sensors are easily adhesive on the skin, and waterproof, thus keeping fit and healthy.
End-user overview in the Global Sensor Patch Market
Based on end-user, the global sensor patch market bifurcated into Healthcare, Fitness & sports. The fitness & sports segment is capturing the maximum share in the global sensor patch market. The fitness and sports team using sensor patches to monitor their body changes and practice according to that. It helps in keeping them fit and reduces injuries and improves their physical and mental health.
Region overview in the Global Sensor Patch Market
Based on geography, the global sensor patch market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific is the world's fastest-growing global sensor patch market, accounting for the largest share. It is mainly due to evolving healthcare treatment, increasing technology, and rising disposable income, fueling the market growth of sensor patch in the Asia Pacific.
Global Sensor Patch Market: Competitive Landscape
Companies such as Abbott Laboratories, iRhythm Technologies, Inc, DexCom, Inc., Medtronic PLC, Texas Instruments Inc., Proteus Digital Health, Inc., Gentag, Inc., Kenzen, Inc., VitalConnect, Inc., and Preventice Solutions, Inc, Humavox Ltd., Vpatch Cardio Pty Ltd., Hocoma AG, Smartrac N.V., Isansys Lifecare Ltd., Leaf Healthcare, Inc., Masimo Corporation, Hivox Biotek Inc., NanoSonic, Inc., MC10, Inc., Raiing Medical Company, Sensium Healthcare Ltd., Feeligreen SA, Nemaura Medical Inc., G-Tech Medical Inc, and others are key players in the global sensor patch market.