According to the new 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", the sensor patch
market is expected to be worth USD 562.1 Million by 2023, at a CAGR of 47.03%
between 2017 and 2023.
The growth of this market is mainly driven by
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.
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Market for blood glucose sensor
patch held the largest size in 2016
The large
market of blood glucose sensor patch is mainly attributed to the increasing
number of patients with diabetes across the world. According to World Health
Organization, about 422 million people were affected by diabetes in 2014
worldwide. Many patients with diabetes have been advised to monitor blood
glucose on a regular basis. Monitoring glucose level regularly is essential to
keep diabetes under control. The demand for self-testing devices is driving the
sensor patch market. The painful pricking procedure used by other glucose
monitoring devices can be considerably avoided by implementing sensor patches.
Market for diagnostics
application is expected to grow at the
highest rate during the forecast period
Diagnostics
application of sensor patch is now being accepted in the healthcare industry as
the current and historical data gathered by sensor patches assist clinicians
with precise diagnostics. There is increasing scope for diagnostics sensor
patches in childcare as infants cannot communicate about their health status.
The North America accounted for
the largest share of the hearable devices market in 2016
North American consumers in general focus on
value and functionality. The demand for sensor patch is increasing in North
America as a result of the demand for technologically advanced medical devices
and monitoring devices that can be used in homes for the growing aging
population. The increase in R&D in the field of wearables, in terms of new
and improved technologies, and the rise in demand for improved lifestyle are
the two crucial factors driving the market in this region. The increasing
R&D capabilities are broadening the application areas of sensor patch in
different industries such as fitness and sports and healthcare.
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Abbott Laboratories (US), iRhythm
Technologies (US), DexCom (US), Medtronic (Ireland), and Texas Instruments (US)
are the major players included in the report with ranking analysis. The report
also covers various start-ups and innovators involved in this market. MC 10
(US), NanoSonic (US), Isansys Lifecare (UK), Leaf Healthcare (US), and
Kenzen (US) are a few innovators in the market that offer disruptive
products. Also, X2 Biosystems (US), Raiing Medical Company (China), Sensium
Healthcare (UK), Feeligreen (France), Nemaura Medical (UK), and
G-Tech Medical (US) are a few emerging companies in the market.
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USA : 1-888-600-6441
newsletter@marketsandmarkets.com
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com
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