Growing Use of Sensor Patches in Medical Devices & Wearable Sensors

The Sensor Patch Market is expected to grow from USD 1.2 billion in 2020 to USD 6.4 billion by 2025, at a CAGR of 40.5%.

 

The increased demand for portable medical devices and wearable sensors, as well as the growing use of sensor patches to monitor glucose levels, are driving the expansion of this market.
The increased acceptance of telehealth, as well as improvements in wearable solutions and digital technologies, are presenting significant prospects for the sensor patch market to expand.

 

Bodywear to witness highest CAGR during 2020–2025

During the forecast period, the market for bodywear is expected to develop at the fastest CAGR.
The market's rapid expansion can be attributable to the growing demand for bodywear patches that track patients' or athletes' medical records. For fitness monitoring, bodywear devices such as chest straps and smart patches are worn on the chest and arms.

 

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Fitness and sports end-user industry expected to exhibit higher CAGR in sensor patch market from 2020 to 2025

From 2020 to 2025, the sensor patch market for fitness and sports end-users is predicted to rise at a faster rate. The way athletes practise, perform, and recuperate from injuries is changing because to sensor patches. The sensor patch market in the fitness and sports business will continue to develop as the population's average life expectancy rises around the world.
Leading sports teams have begun to use wearable sensor patches, with promising outcomes in terms of increased potential, performance, energy management, and injury reduction.

 

Increasing per capita healthcare expenditure and disposable incomes to boost demand for sensor patches in APAC during forecast period

 

During the forecast period, the sensor patch market in APAC is predicted to develop at the fastest rate. The regional market for sensor patches is driven by the growing requirement in Asia for the installation and integration of medical devices and healthcare IT systems in order to provide cost-effective and high-quality clinical care to patients. As a result, numerous worldwide wearable solution firms are expanding their operations in Asia to take advantage of the emerging potential.
Furthermore, the COVID-19 outbreak has increased the number of patients in the region, particularly in China and India. The sensor patch market in APAC will rise due to an increase in patient volume and a growing need for accurate and fast diagnosis and treatment of this disease.

 

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Key players in the sensor patch market are Abbott Laboratories (US), iRhythm Technologies, Inc. (US), DexCom, Inc. (US), Medtronic PLC (Ireland), Texas Instruments Inc. (US), Proteus Digital Health, Inc. (US), Gentag, Inc. (US), Kenzen, Inc. (US), VitalConnect, Inc. (US), and Preventice Solutions, Inc. (US).