Report Code: A09825 | Nov 2023 | Pages: NA | ||
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Sensor patches help diagnose and monitor condition of an individual and as they are type of adhesive patches. These operate using small electric current and it does not pierce the skin. They can operate in small area of the size of hair in case of measuring of glucose in individual’s blood. It is designed to be shaped as standard Band-Aid patch. They can also be connected to the consumer electronic devices. Thus, they find their applications in diagnostics, monitoring, medical therapeutics end uses such as fitness & sports, healthcare, and others. Innovations in the sensor and control industry make way for better and improved sensor patches.
The global sensor patch market is segmented on the basis of product type, application, end usersand region. Based on type, the market is divided intoblood pressure/flow sensor patch, blood oxygen sensor patch, blood glucose sensor patch, heart rate sensor patch, temperature sensor patch, ECG sensor patch, and others. In terms of application, the market is categorized into diagnostics, monitoring, medical therapeutics. On the basis of end usersthe market is divided into fitness & sports, healthcare and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Key players operating in the global sensor patch industry include Dexcom Inc, Abbot laboratories, iRhythm Technologies Inc, Gentag Inc, Isansys lifecare ltd, Kenzen Inc, HIVOX BIOTEX INC, Leaf Healthcare, Feeligreen SA, Texas Instruments Incorporated and others. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global sensor patch market.
COVID-19 Scenario Analysis
Top Impacting Factors
The major driving factors for the growth of the sensor patch market include rise in disposable income and surge in per capita income in healthcare. Also, the relieving offered by this patch to the patient drives the market growth. But, the assimilation of the sensor with the device may hinder the market growth. Moreover, increase in IoT applications, consumer inclination toward wearable devices, rise in usage of smartphones, developments in the automation industry, and developments in the sensor technology are expected to fuel the market growth further.
New Product Launches to Flourish the Market
Medtronic introduced Micra AV, which is the smallest pacemaker in the world with atrioventricular (AV) synchrony after receiving approval from FDA in the year 2020. As AV is the state in which the electrical signals among the chambers of the heart are impaired, this Micra AV is designed for treatment of the patients with AV block. The commercial agreement to merge the future G7 CGM and Dexcom G6 into Insulet’somnipod horizon fully mechanized insulin delivery system was made by Insulin Corporation and Dexcom in the year 2020.
Surge in Usage in Sports Industry
Manufacturers have been focusing on producing new products for specific applications as there are varying demands based on the utilization. Increased usage of wearable devices for monitoring fitness and health has led to the surge in usage of Sensor Patch in this industry. It provides information regarding sportsperson’s health during his daily activities while providing continuous monitoring. They can be easily hidden under clothing as they are small in size.
Key Benefits of the Report
Questions Answered in the Sensor PatchMarket Research Report
Sensor Patch Market Report Highlights
Aspects | Details |
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By Product Type |
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By Wearable Type |
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By Application |
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By End User |
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By Region |
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Key Market Players | Texas Instruments Inc., Medtronic PLC, Gentag, Inc., Abbott Laboratories, Preventice Solutions, Inc., VitalConnect, Inc., DexCom, Inc., Proteus Digital Health, Inc., iRhythm Technologies, Inc., Kenzen, Inc. |
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