DUBLIN–(BUSINESS WIRE)–February 21, 2022–
The report “Global Sensor Patch Market Outlook 2020: Global Opportunity and Demand Analysis, Market Forecast, 2019-2028” has been added to ResearchAndMarkets.com’s offering.
The global sensor patch market accounted for USD 72.9 million in 2018 with an estimated value of USD 1633 million by 2026, growing at a CAGR of 47.5% during the forecast period 2019 to 2028.
The next market report contains data for the historical year 2017, the base year for the calculation is 2018, and the forecast period is 2019 to 2028. The sensor patches are passive UHF sensors, chip RFID sensors unique are used to measure humidity conditions in medical care areas. These devices are mainly used in geriatric care, child care and long-term medical care. In this market, drivers included rising healthcare spending and growing adoption of wearable devices in a health monitoring application.
Technological advancements in ECG sensor patch and new product launches are expected to propel the market growth
Growing research attention on monitoring various bodily parameters is expected to augment the market growth over the forecast period. In 2016, engineers at the University of California, San Diego developed the first flexible wearable device that records ECG heart signals and tracks levels of lactate, a biochemical that is a marker of physical exertion, in real time. Increase in strategic acquisitions and collaborations by market players to expand their offerings in the market is expected to support the growth of the market. For example, in January 2019, Medtronic Plc. announced the acquisition of EPIX Therapeutics, Inc. The acquisition is expected to expand Medtronic’s cardiac ablation portfolio for the treatment of patients with cardiac arrhythmias.
Blood Glucose Sensor Patch to Make Crucial Contribution to Growth of Global Sensor Patch
The blood glucose sensor patches segment held the largest sensor patch market size. Many diabetic patients are advised to regularly monitor their blood sugar. Blood glucose monitoring is essential because a sudden increase in glucose levels causes hyperglycemia, while a sudden decrease can lead to hypoglycemia, thus leading to several complications, including cardiac or vascular events (heart attack or stroke), kidney problems, eye problems. , etc Regular blood sugar monitoring is essential to control diabetes. The demand for self-testing devices is driving the market.
The growing number of diagnostic tests for COVID-19 has led to the need to integrate this data into health information systems (HIS). The increasing incidence of chronic diseases and the increase in the geriatric population has led to the increase in the number of diagnostic procedures performed worldwide. Sensor patches are now accepted in the healthcare industry for diagnostic applications because current and historical data collected by sensor patches help clinicians make accurate diagnoses. The reach of diagnostic sensor patches in child care centers is increasing because infants cannot communicate about their health status.
North America Dominated to Experience Fastest Growing Global Sensor Patch
North America holds the dominant position in the global ECG sensor patches market over the forecast period owing to the growing prevalence of atrial fibrillation and other heart conditions. According to the American Heart Association, in 2016 stroke was one of the leading causes of death in the United States, with an estimated 2.7 million people in the country living with atrial fibrillation and an estimated 800,000 suffering from it. of a stroke every year. This was due to blocks or bursts in the blood vessel that supplies blood to the brain. Hence, the rising prevalence of atrial fibrillation is driving the growth of the global ECG sensor patches market
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- Temperature sensor patch
- Blood glucose sensor patch
- Blood Pressure/Flow Sensor Patch
- heart rate sensor patch
- ECG sensor patch
- Blood Oxygen Sensor Patch
- Medical therapeutics
Per end user
- Health care
- Fitness and sports
- North America
- Asia Pacific
- Raiing Medical Company (China)
- Humavox Ltd. (Israel)
- Vpatch Cardio Pty Ltd. (Australia)
- Hocoma AG (Switzerland)
- Smartrac NV (Netherlands)
- Isansys Lifecare Ltd. (UK)
- Leaf Healthcare, Inc. (USA)
- Masimo Corporation (USA)
- Hivox Biotek Inc. (Taiwan)
- NanoSonic, Inc. (USA)
- MC10, Inc. (USA)
For more information about this report visit https://www.researchandmarkets.com/r/5z1wjj
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SECTOR KEYWORD: HEALTHCARE MEDICAL DEVICES
SOURCE: Research and Markets
Copyright BusinessWire 2022.
PUBLISHED: 02/21/2022 10:43 a.m. / DISK: 02/21/2022 10:43 a.m.
Copyright BusinessWire 2022.