Sensor Patch Market (By Application: Monitoring, Diagnostic, Imaging, Medical therapeutics, Wellness and Fitness, Others; By End Use: Fitness, Healthcare, Sports, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027

Acumen Research and Consulting estimates that global Sensor Patch market is expected to reach the market value of around US$ 10 Bn by 2027 and is anticipated to grow at a CAGR of over 41% in terms of revenue during the forecast period 2020 – 2027.

Sensor patch is designed to monitor moisture conditions, such as geriatric care, long-term diagnosis or infant care in many medicinal areas. In numerous organizations, for example, public resources, education, and sports, the sensor patches are widely used for observation purposes. Sensors are a crucial component of emergency care, as they can be conveyed to patients directly. As research advances, sensor patches are now available that can gather input from the patient to enliven preparatory treatment, diagnosis and further steps are taken.

The report provides analysis of global Sensor Patch market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.

Market Insights

A significant driving force for growth in the global sensor patch markets is a growing demand for wearable applications for healthcare surveillance. Moreover, the growing use of innovative portable and wearable devices is another engine of global consumer development. During its day-to-day operations, sensor patches help to monitor, detect and provide information regarding the patient's health. They are lightweight and can be easily hidden under clothing. In addition, the growth of the global sensor patch market is predicted to support by rising disposable income and increased investments in R&D activities within the health sector. However, sensor patches may cause skin rashes and make an individual nausea, which may hamper the product's adoption and thus curb the global sensor patch market's growth. Nevertheless, increasing use in healthcare sector services of electronic information and telecommunication technology may create high revenue opportunities for target players. 

Regional Stance

North America accounted for the most important market share led by the US. The reason for this is various technically sophisticated medical devices are expanding the application fields of sensor patch, rising demand for monitoring equipment by the mounting population, increasing investment in research and development and also escalating R&D capabilities. On the other hand, Asia Pacific will grow at a significant pace during the predicted period. High-end technical approaches, community planning, and innovative technology are major growth contributors in the region.

Report coverage

The market research study on “Sensor Patch Market (Sensor Patch Market By Application: Monitoring, Diagnostic, Imaging, Medical therapeutics, Wellness and Fitness, Others; Sensor Patch Market By End Use: Fitness, Healthcare, Sports, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Sensor Patch market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global Sensor Patch market size, and segment markets by application, end use, and geography along with the information on companies operating in the market. The Sensor Patch market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.  

The global Sensor Patch market is segmented as below:

Market Segmentation

Sensor Patch Market By Application

Monitoring

Diagnostic

Imaging

Medical therapeutics

Wellness and Fitness

Others

Sensor Patch Market By End Use

Fitness

Healthcare

Sports

Others

Sensor Patch Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Mexico
• Brazil
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of MEA

Key Players and Market Situation

Participants include major global players such Gentag Inc, Kenzen Inc, Dexcom Inc, Abbot Laboratories, iRhythm Technologies Inc, Isansys Lifecare Ltd, Feeligreen SA, Leaf Healthcare, HIVOX BIOTEK INC, Others. 

The global demand for sensor patches is very competitive. A competitive landscape is formed by several established international brands, domestic brands and new entrants. The key players constantly strive for a market expansion with diverse strategic combinations and acquisitions, innovation, increased R&D investments and a rentable product portfolio. Due to the presence of several large vendors, the sensor patch industry is very competitive.

2017, Kenzen Patch presents a wearable smart patch to monitor your body, which analyzes your sweat. These Wearable Patch applications are not only suitable for consumers, but also for sports, business and industrial markets. Shipments of body sensors are expected to rise from 2,7 million units in 2015 to 68 million in 2021.