Global Sensor Patch Market to 2028 - Featuring Raiing Medical Company, Humavox and Leaf Healthcare Among Others - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Sensor Patch Market Outlook 2020: Global Opportunity and Demand Analysis, Market Forecast, 2019-2028" report has been added to ResearchAndMarkets.com's offering.

The global sensor patch market accounted for USD 72.9 million in 2018 to an estimated value of USD 1633 million by 2026 growing at a CAGR of 47.5% during the forecast period of 2019 to 2028.

The upcoming market report contains data for the historic year 2017 the base year of calculation is 2018 and the forecast period is 2019 to 2028. Sensor patches are passive UHF, single-chip RFID sensors are used to measure moisture conditions in medical care areas. These devices are mostly used in geriatric care, child care, and medical long-term care. In this market, drivers included such as rising health care expenditure and increasing adoption of wearables in a health monitoring application.

Technological advancements in ECG sensor patch and new product launch is expected to propel the market growth

The increasing focus of researchers on monitoring various body 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 effort, in real-time. Rising strategic acquisitions and collaborations by market players for expanding their offerings in the market are expected to bolster the market growth. For instance, in January 2019, Medtronic Plc. announced to acquire EPIX Therapeutics, Inc. The acquisition is expected to expand Medtronic's cardiac ablation portfolio for treating the patient with cardiac arrhythmia.

Blood glucose sensor patch to Make Crucial Contribution for Growth of Global Sensor Patch

The blood glucose sensor patch segment held the largest size of the sensor patch market. Many patients with diabetes are advised to monitor blood glucose regularly. The monitoring of blood glucose is essential as a sudden increase in the level of glucose causes hyperglycemia, while a sudden decrease can cause hypoglycemia, thereby leading to several complications, including cardiac or vascular events (heart attacks or strokes), kidney problems, eye problems, etc. Regular monitoring of glucose levels is essential to keep diabetes under control. The demand for self-testing devices is driving the market.

The growing number of diagnostic tests for COVID-19 has resulted in the need for integration of this data into health information systems (HIS). The increasing incidences of chronic diseases and the rising geriatric population have resulted in the increasing number of diagnostic procedures performed globally. Sensor patches are now being accepted in the healthcare industry for diagnostics applications as the current and historical data gathered by sensor patches assist clinicians with precise diagnostics. The scope for diagnostics sensor patches in childcare is increasing as infants cannot communicate about their health status.

North America dominated to witness the fastest growth in Global Sensor Patch

North America holds the dominant position in the global ECG sensor patch market over the forecast period, owing to the increasing prevalence of atrial fibrillation and other cardiac conditions. According to American Heart Association, in 2016, stroke was a leading cause of death in the U.S. with around 2.7 million people in the country living with atrial fibrillation and around 800,000 suffering from a stroke, annually. It was due to blocks or bursts in the blood vessel that supplies blood to the brain. Therefore, the increasing prevalence of atrial fibrillation boosts the growth of the global ECG sensor patch market

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.

2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.

3. It renders a definite analysis for changing competitive dynamics.

4. It builds a seven-year estimate based on how the market is predicted to grow.

Scope of the Report

By Type

• Temperature Sensor Patch
• Blood Glucose Sensor Patch
• Blood Pressure/Flow Sensor Patch
• Heart Rate Sensor Patch
• ECG Sensor Patch
• Blood Oxygen Sensor Patch

By Application

• Monitoring
• Diagnostics
• Medical Therapeutics

By End User

• Healthcare
• Fitness & sports

By Region

• North America
• Europe
• Asia Pacific
• SAMEA

Companies Mentioned

• Raiing Medical Company (China)
• Humavox Ltd. (Israel)
• Vpatch Cardio Pty Ltd. (Australia)
• Hocoma AG (Switzerland)
• Smartrac N.V. (Netherlands)
• Isansys Lifecare Ltd. (UK)
• Leaf Healthcare, Inc. (US)
• Masimo Corporation (US)
• Hivox Biotek Inc. (Taiwan)
• NanoSonic, Inc. (US)
• MC10, Inc. (US)

For more information about this report visit https://www.researchandmarkets.com/r/5z1wjj