Global Wearable Patient Sensor Market to be Worth USD 1,392.6 Million by 2028
The Wearable Patient Sensor Market is projected to grow from USD 347.2 Million to USD 1,392.6 Million; growing at a Compound Annual Growth Rate (CAGR) of 11.2%. The wearable sensor is a technological device used by patients and individuals to track information associated with health and fitness. These sensors are grouped together into a fabric or other fashion items using wireless media to identify and monitor vital signs such as blood pressure, heart rate, and other metabolic movements. The Wearable Patient Sensor helps to diagnose and monitor the treatment of various cardiovascular diseases, lungs and nerves, diseases such as high blood pressure, asthma, and others.
Active Wearable Patient Sensors are still distributed to medical facilities in rural areas that do not have remote monitoring systems. Utilizing wireless connectivity, power processing capabilities and power storage capabilities on smartphones, these Wearable Patient Sensors discover new application modes, such as remote patient monitoring, where analysis of patient movement data can be sent directly to a physician. The Wearable Patient Sensor Market is slowly growing with the development of sensory technology, power supply technology, wireless communication technology, and more. The Wearable Patient Sensor Market is driven by factors such as increased options for the development of sensory technology, and increased use of pediatric sensor devices. In addition, the use of smart consumer electronics, such as tablets and smartphones, has enabled monitoring and data collection, as these sensors can be paired with other devices. Slower sensitivity of the body, increased growth to advanced working Wearable Patient Sensors in smart gadgets, increased battery size and a growing need for continuous monitoring in healthcare facilities are key factors, making the wearable sensor market grow profitably. Remote patient monitoring and rapid variation in sensory technology are the key mechanisms that promote market growth. However, privacy and security features of portable sensor devices, and high-power consumption are major barriers to market growth.
Based on application, the market for Wearable Patient Sensors consists of foot wear, body wear, wrist wear, eye wear, and other applications. While on the basis of product type, the market is segmented into temperature sensor, image sensor, motion sensor, pressure sensor, position sensor, and medical based sensor among others. On the basis of regional analysis, the Global Wearable Patient Sensor Market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Various factors will enhance the growth of the Wearable Patient Sensor Market in North America. The key determining the innovation of technology and development, which led to the introduction of new products. Growing interest from consumers and medical care has also supported North American market growth. Other factors that contribute to growth include an increasing number of chronic diseases.
Integration and Acquisition is an integral part of the Wearable Patient Sensor Market. In April 2020, Bioclinical and VivaLNK partners unveiled remote patient monitoring technology. This can be used in drug trials. Major players in the Global Wearable Patient Sensor Market include Fitbit Inc. (US), Verily Life Sciences (US), Cyrcadia Asia Limited, Karnak (US), VitalConnect (US), Minttihealth (China), OMRON Corporation (Japan), Abbott Laboratories (US), Koninklijke Philips N.V. (Netherlands), Medtronic plc (US).
Browse the full Report - Wearable Patient Sensor Market by Product (Pressure Sensor, Temperature Sensor, Position Sensor, Other Types), by Application (Smart Wristwear, Smart Glasses, Smart Bodywears, Smart Footwears), by End User (Healthcare, Consumer Electronic, Sports/Fitness, Other End-user Verticals), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)