Dublin, May 27, 2020 (GLOBE NEWSWIRE) -- The "Sensor Patch Market by Product (Temperature, Blood Glucose, Blood Pressure, Heart Rate, ECG, & Blood Oxygen), Application (Monitoring, Diagnostics), Wearable Type (Wristwear, Neckwear, Bodywear), End-user Industry, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The overall sensor patch market was valued at USD 0.8 billion in 2019 and is projected to reach USD 6.4 billion by 2025; it is expected to grow at a CAGR of 40.5% from 2020 to 2025.
The growth of this market is mainly driven by the rising demand for portable medical devices and wearable sensors, increasing elderly population, and the growing number of applications of sensor patches to monitor glucose level. The growing adoption of telehealth and advancements in wearable solutions and digital technologies provide major opportunities for the growth of the sensor parch market. However, regulatory issues and Health Insurance Portability and Accountability Act (HIPAA) compliances restrain the market growth.
Diagnostics application to hold largest share of sensor patch market until 2025
The diagnostics application is expected to hold the largest market size during the forecast period. The growing number of diagnostic tests for COVID-19 has resulted in the need for integration of this data into health information systems (HIS). Moreover, the increasing incidences of chronic diseases and the rising geriatric population have resulted in the growing number of diagnostic procedures performed globally. Sensor patches are now being accepted in the healthcare industry for diagnostics as the current and historical data gathered by sensor patches assist clinicians with precise diagnostics.
North America to be largest market for sensor patch until 2025
North America is expected to hold the largest share of the sensor patch market during the forecast period. North American consumers are focused on value and functionality. The demand for sensor patches is increasing in North America as a result of the demand for technologically-advanced medical devices and monitoring devices that can be used in homes for the growing aging population. The increased R&D in the field of wearables, in terms of new and improved technologies, and the rising demand for improved lifestyle are the two crucial factors driving the market in this region. The increasing R&D capabilities are broadening the application areas of sensor patches in fitness, and sports and healthcare industries.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Sensor Patch Market
4.2 Sensor Patch Market, by Wearable Type
4.3 Sensor Patch Market, by Product Type
4.4 Sensor Patch Market in North America, by Application and Country
4.5 Sensor Patch Market, by Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Demand for Portable Medical Devices and Wearable Sensors
5.2.1.2 Increasing Elderly Population
5.2.1.3 Increasing Applications of Sensor Patches to Monitor Glucose Level
5.2.2 Restraints
5.2.2.1 Regulatory Issues
5.2.2.2 Health Insurance Portability and Accountability Act (HIPAA) Compliances
5.2.3 Opportunities
5.2.3.1 Growing Adoption of Telehealth
5.2.3.2 Advancements in Wearable Solutions and Digital Technologies
5.2.4 Challenges
5.2.4.1 Issues Related to Data Security Due to Connected Medical Devices
5.2.4.2 Design Complexities and Thermal Considerations
5.3 Impact of Covid-19 on Sensor Patch Market
5.4 Value Chain Analysis
6 Sensor Patch Market, by Technology
6.1 Introduction
6.2 Amperometric
6.2.1 Amperometric Technique-Based Sensor Patch Solutions
Are Cost-Effective and Are Easy to Mass-Produce
6.3 Conductometric
6.3.1 Conductometric Technique-Based Solutions Are Suitable for Medical Devices Used for Monitoring Blood Glucose
6.4 Potentiometric
6.4.1 Potentiometric-Based Sensor Patches Are Mainly Used for Monitoring Total Ion Content in Sweat
7 Sensor Patch Market, by Product Type
7.1 Introduction
7.2 Temperature Sensor Patch
7.2.1 Adoption of Temperature Sensor Patches for Patient Monitoring and Diagnostics Propels Market Growth
7.3 Blood Glucose Sensor Patch
7.3.1 Need for Self-Monitoring of Glucose Levels by Diabetic Patients Fuels Demand for Blood Glucose Sensor Patches
7.4 Blood Pressure/Flow Sensor Patch
7.4.1 Increasing Need for Blood Pressure Monitoring in Hospitals to Boost Blood Pressure/Flow Sensor Patch Market
7.5 Heart Rate Sensor Patch
7.5.1 Growing Incidences of Heart-Related Diseases Propel Demand for Heart Rate Sensor Patches
7.6 Ecg Sensor Patch
7.6.1 Increasing Demand for Ecg Sensor Patches for Quick Diagnosis of Patients Boosts Market Growth
7.7 Blood Oxygen Sensor Patch
7.7.1 Blood Oxygen Sensor Patch Market for Anesthesia Monitoring Application to Witness Steady Growth During the Forecast Period
7.8 Others
7.8.1 Need to Monitor Stress and Anxiety Symptoms of Patients to Boost Market for Other Types of Sensor Patch
8 Sensor Patch Market, by Wearable Type
8.1 Introduction
8.2 Wristwear
8.2.1 Wristwear Have a High Demand for Medical and Fitness Purposes
8.3 Footwear
8.3.1 Footwear Wearables Are Being Used to Track Position for Fitness and Medical Purposes
8.4 Neckwear
8.4.1 Neckwear Patches Are Used to Diagnose and Treat Aphasia
8.5 Bodywear
8.5.1 Bodywear Patches Can Be Used for Various Healthcare and Fitness Applications
9 Sensor Patch Market, by Application
9.1 Introduction
9.2 Monitoring
9.2.1 Rising Adoption of Portable Patient Monitoring Devices to Propel Market Growth
9.3 Diagnostics
9.3.1 Increasing Demand for Improving Diagnosis Processes to Lead to Growth of Sensor Patch Market
9.4 Medical Therapeutics
9.4.1 Use of Sensor Patches for Insulin Delivery is Boosting Market for Therapeutics Application
10 Sensor Patch Market, by End-User Industry
10.1 Introduction
10.2 Healthcare
10.2.1 Hospitals & Clinics
10.2.1.1 Large Patient Volume Due to Outbreak of Covid-19 and High Demand for Medical Devices from Hospitals Propel Adoption of Sensor Patches
10.2.2 Home Care
10.2.2.1 Growing Geriatric Population and Rising Numbers of Patients Suffering from Diabetes to Propel Adoption of Sensor Patches in Home Care Settings
10.2.3 Diagnostic Laboratories
10.2.3.1 Growing Volume of Clinic Data and Rising Need to Modernize Imaging Workflows to Drive Sensor Patch Market for Diagnostic Laboratories
10.3 Fitness and Sports
10.3.1 Growing Awareness Regarding Health and Fitness Boosts Demand for Sensor Patches
11 Geographic Analysis
11.1 Introduction
11.2 North America
11.2.1 Us
11.2.1.1 Growing Need to Decrease Soaring Healthcare Costs to Drive Sensor Patch Market Growth in Us
11.2.2 Canada
11.2.2.1 Growing Need for Cost Containment in Healthcare Propels Sensor Patch Market Growth
11.2.3 Mexico
11.2.3.1 Growing Focus on Telehealth and Wearable Healthcare Supports Growth of Sensor Patch Market in Mexico
11.3 Europe
11.3.1 UK
11.3.1.1 Government Initiatives to Drive Adoption of Sensor Patches in the UK
11.3.2 Germany
11.3.2.1 High Expenditure for Advance Health Services Boosts Demand for Wearable Patches
11.3.3 France
11.3.3.1 Sensor Patch Market in France Expected to Grow at the Highest Rate in the European Region
11.3.4 Rest of Europe
11.4 APAC
11.4.1 China
11.4.1.1 Large Patient Pool Due to Covid-19 Epidemic to Drive Adoption of Sensor Patches for Monitoring and Diagnosis
11.4.2 Japan
11.4.2.1 Growing Need for Advanced Medical Technologies to Meet Requirements of Elderly Population Boosts Sensor Patch Market in Japan
11.4.3 South Korea
11.4.3.1 Improving Health Infrastructure Drives Sensor Patch Market in South Korea
11.4.4 India
11.4.4.1 Growing Investments in Advancement of Country'S Healthcare Infrastructure Drive Sensor Patch Market in India
11.4.5 Rest of APAC
11.5 Row
11.5.1 Middle East & Africa
11.5.1.1 Middle East is Expected to Hold Largest Market Share in Row by 2025
11.5.2 South America
11.5.2.1 Large Volume of Patients and Rising Need for Health Information Exchange Across Health Facilities Drive Sensor Path Market in South America
12 Competitive Landscape
12.1 Introduction
12.2 Market Player Ranking Analysis
12.3 Competitive Leadership Mapping
12.3.1 Visionary Leaders
12.3.2 Innovators
12.3.3 Dynamic Differentiators
12.3.4 Emerging Companies
12.4 Strength of Product Portfolio (25 Companies)
12.5 Business Strategy Excellence (25 Companies)
12.6 Competitive Scenario
12.7 Competitive Situations & Trends
12.7.1 Product Launches
12.7.2 Contracts/Collaborations/Agreements/Joint Ventures/Partnerships
12.7.3 Acquisitions
12.7.4 Expansions
13 Company Profiles
13.1 Key Players
13.1.1 Abbott Laboratories
13.1.2 Irhythm Technologies, Inc.
13.1.3 Dexcom, Inc.
13.1.4 Medtronic plc
13.1.5 Texas Instruments Incorporated
13.1.6 Proteus Digital Health, Inc.
13.1.7 Gentag, Inc.
13.1.8 Kenzen Inc.
13.1.9 Vitalconnect, Inc.
13.1.10 Preventice Solutions, Inc.
13.2 Right to Win
13.3 Other Companies
13.3.1 Smartrac N.V.
13.3.2 Isansys Lifecare Ltd.
13.3.3 Leaf Healthcare, Inc.
13.3.4 Mc10, Inc.
13.3.5 Sensium Healthcare Ltd.
13.3.6 Masimo Corporation
13.3.7 Hocoma AG
13.3.8 Nemaura Medical Inc.
13.3.9 Hivox Biotek Inc.
13.3.10 Nanosonic, Inc.
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