Global Sensor Patch Market was valued at US$ 79.98 million in 2018 and is expected to reach US$ 1412.54 million by 2029, growing at an estimated CAGR of 37.7% over the forecast period. Sensor patches are small devices like a chip which are activated by RFID, these patches are adhered to the skin of a human in order to detect the physical changes occurring in the body. These devices are used in geriatric care and child care. It is mostly used for diagnostic purposes which is preferred by the consumers, these patches help in measuring the treatments taken place. Sensor patch enables continuous measurement and analysis of physical changes in human by measurement of skin temperature and pulse wave. Senor patch is generally small in size and can fit under the outfits. These patches are used in various applications such as early detection of disorders, safety monitoring, health and wellness monitoring and home rehabilitation. Real time monitoring of heart rate and body temperature is vital for the diagnosis of diseases, current monitoring systems are bulky as well as rigid so attaching those devices to human body is not possible. Wireless sensor patches are preferred instead of those devices to continuously track the heart rate and body temperature. This gives real time insights to the medical caregivers about the physical changes in patients.
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Sensor patch is specifically designed to measure moisture levels in different medical fields, including geriatric care, long-term medical care, and childcare. Sensor Patch Market growth can be due to the high demand in the medical field for miniature diagnostic instruments, rapid technological developments and increased scope of application for wearable biosensors. Early and accurate diagnosis of the disease is important for effective prognosis of the patient’s illness and survival. Recent years have seen increased demand for portable, cost-effective, and user-friendly devices with fast response time. Such instruments have paved their way in the medical sector, owing to their ability to meet such requirements through an interdisciplinary blend of methods from the medical sciences, chemistry and nanotechnology. The growth factors contributing to the sensor patches market are growing healthcare spending, rising disposable incomes in OECD countries, rising consumer preference for wearable healthcare monitoring devices and increasing awareness of telehealth. Increasing demand for medical patches across various applications, such as health and treatment, is also expected to fuel market growth for various diseases such as cancer, diabetes, heart disorders and blood pressure. But factors such as high diagnostic costs and various health insurance issues is anticipated to hinder the overall Sensor Patch Market growth. In addition, the emergence of different diagnostic technologies is expected to fuel the growth of the market of sensor patch over the forecast period.
Growing prevalence of wearable devices for monitoring of patients in healthcare sector is a major factor driving the growth of sensor patch market. Sensor patches provides information to the specialists about certain indications like kidney distress, heart distress, strokes and other medical emergencies. These patches have numerous advantages to administer basic conditions of joint inflammation and Parkinson’s illness. Also, rising adoption of portable wireless devices for continuous monitoring is boosting the demand for sensor patch market. Sensor patch monitors, detects and provide valuable information regarding the health of patients by continuously monitoring the daily activities. The sensor patches are adopted extensively in the healthcare sector for monitoring purposes. The use of the product is increasing due to ease of communication between the doctors or physicians and the wearer of sensor patch to track the health of patients. Also, the sensor patches helps the athletes to recover from injuries, train and to perform. Investments in R&D in the healthcare sector is enabling the manufacturers to provide advanced technology products to the consumers. Market players are developing stretchy and skin mountable elastic fiber-based sensor patch to track human activities and physiological signal. The report provides both, qualitative and quantitative research of sensor patch market, as well as provides comprehensive insights and development methods adopted by the key contenders. The report also offers extensive research on the key players in this market and details on the competitiveness of these players. Key business strategies such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts adopted by these major market participants are also recognized and analyzed in the report. For each company, the report studies their global presence, competitors, service offerings and specification amongst others.
The global sensor patches market is extremely competitive. A competitive landscape is generated by multiple established international brands, domestic brands and new entrants. Through numerous strategic mergers and acquisitions, innovation, growing investment in research and development and cost-effective product portfolio, the key players are increasingly pursuing market expansion. Due to the presence of several major vendors the Sensor Patch Market is highly competitive. The major players operating in the market include AZUR Environmental; Abbott Laboratories; Biosensor BV; Bayer AG; Cranfield Biotechnology Centre; Pinnacle Technologies, Inc.; DuPont Biosensor Materials; Ercon, Inc.; EG & IC Sensors, Inc.; Johnson & Johnson; Innovative Biosensors, Inc., LifeScan, Inc.; Strategic Diagnostics; Sysmex Corp.; Molecular Devices Corp.; QTL Biosystems; and Roche Diagnostics amongst others.
Sensor Patch Market:
- By Product
- Temperature
- Blood Glucose
- Blood Pressure/Flow
- Heart Rate
- ECG
- Blood Oxygen
- By Application
- Monitoring
- Diagnostics
- By End User
- Healthcare
- Fitness and Sports
- By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- North America
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