Sensor Patch Market is Expected to Grow with a CAGR of 42.3% from 2022 to 2028
As stated in our extensive report, providing insights on Product type, Wearable Type, Application, and End-User Industry, the Global Market accounted for USD 1.54 Billion in 2021.
The advanced sensor patch is a disposable, UHF, single-chip sensor that provides cost efficiency, easy implementation, and can work on different textiles, pulps, and nonwoven materials. Sensor platforms provide a great opportunity to utilize the fibrous textile threads as substrates. It is also used to put directly in intimate contact with the skin. All these benefits of the sensor patches are responsible for influencing the growth of the market in the coming years.
is used to monitor daily activities and physiological response by tracking metabolism and hemodynamic parameters. Thus, it is gaining high potential in the market. Applications such as wearable sensors, the internet of medical things, precision medicine, and telehealth provide various features that remotely & actively monitor physiological parameters. Wearable sensors produce data without interrupting the daily routine, thus, in turn, improving the quality of patient care. It is also used to monitor an electrocardiogram (ECG), blood pressure (BP) as well as biochemical parameters such as glucose with the help of non-invasive wearable sensors. These are some of the reasons to flourish the growth of the market.
A sensor patch is an electronic device that is manufactured for human health benefits and is expected to grow on a higher scale. As the reliability of these sensor patches is quite high these are manufactured under high precision. Therefore, the cost for such facilities is relatively high and hence it increases the final product price. This is one of the major obstacles in the development of the market.
North America is expected to witness the maximum growth of the global market during the forecast period. The growing need for the implementation & integration of medical devices and healthcare IT solutions in this region are responsible to provide cost-effective & quality care information to the patients. As a result, many global wearable solution companies are investing in the market which creates various growth opportunities for the market. In addition, the COVID-19 outbreak has resulted in an increased patient pool especially in countries such as China and India. Factors such as growing patient volume, along with the rising need for accurate & timely diagnosis of the disease are accelerated to propel the growth of the market in this region.
Some of the prominent players operating in the global market are Abbott Laboratories (US), Kenzen Inc. (US), Frontier Smart Technologies Group Ltd. (UK), Leaf Healthcare Inc. (US), Medtronic (Ireland), rhythm Technologies (US), Feeligreen SA (France), Texas Instruments (US), DexCom (US), Isansys Lifecare Ltd. (UK) and G-Tech Medical Inc. (US)..
Browse the full Report - Sensor Patch Market by Product (Temperature Sensor Patch, Heart Rate Sensor Patch, ECG Sensor Patch, Blood Oxygen Sensor Patch), by Application (Monitoring, Imaging, Diagnostic, Medical Therapeutics), by End-User (Healthcare, Fitness & Sports), by Region (North America, Latin America, Europe, Asia Pacific) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)