Product Code: SE 5489
"Sensor patch market to grow at 40.5% CAGR from 2020 to 2025"
The overall sensor parch market is expected to grow from USD 1.2 billion in 2020 to USD 6.4 billion by 2025, at a CAGR of 40.5%. 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.
Breakdown of Profiles of Primary Participants:
- By Company Type: Tier 1 - 45%, Tier 2 - 30%, and Tier 3 - 25%
- By Designation: C-level Executives - 30%, Directors - 25%, and Others - 45%
- By Region: North America - 45%, Europe - 30%, APAC - 20%, and RoW - 5%
Major Players Profiled:
- Abbott Laboratories (US)
- iRhythm Technologies, Inc. (US)
- DexCom, Inc. (US)
- Medtronic PLC (Ireland)
- Texas Instruments Inc. (US)
- Proteus Digital Health, Inc. (US)
- Gentag, Inc. (US)
- Kenzen, Inc. (US)
- VitalConnect, Inc. (US),
- Preventice Solutions, Inc. (US)
This report offers detailed insights into the sensor patch market by product type, which is further classified into temperature sensor patch, blood glucose sensor patch, blood pressure/flow sensor patch, heart rate sensor patch, ECG sensor patch, blood oxygen sensor patch, and others. Based on wearable type, the market is segmented into wristwear, footwear, neckwear, and bodywear. By application, the market is segmented into monitoring, diagnostics, and medical therapeutics. By end-user industry, the market is segmented into healthcare, and fitness & sports. The study forecasts the size of the market for four regions-North America, Europe, APAC, and RoW.
Reasons to Buy the Report:
The report would help market leaders/new entrants in the following ways:
- 1. This report segments the sensor patch market comprehensively and provides the closest approximations of the overall and segment-based market sizes across different product types, wearable types, end-user industries, applications, and regions.
- 2. The report would help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities influencing the market growth.
- 3. This report would help stakeholders understand their competitors better and gain more insights to enhance their market position. The competitive landscape section includes the competitive analysis of top players, as well as the strategies, such as product launches and developments, acquisitions, contracts, collaborations, agreements, partnerships, and expansions, adopted by the major market players.
TABLE OF CONTENTS
- 1.1 STUDY OBJECTIVES
- 1.2 MARKET DEFINITION AND SCOPE
- 1.2.1 INCLUSIONS AND EXCLUSIONS
- 1.3 STUDY SCOPE
- 1.3.1 GEOGRAPHIC SCOPE
- 1.3.2 YEARS CONSIDERED
- 1.4 CURRENCY
- 1.5 LIMITATIONS
- 1.6 STAKEHOLDERS
- 1.7 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
- 2.1 RESEARCH DATA
- 2.1.1 SECONDARY DATA
- 220.127.116.11 Major secondary sources
- 18.104.22.168 Secondary sources
- 2.1.2 PRIMARY DATA
- 22.214.171.124 Primary interviews with experts
- 126.96.36.199 Key data from primary sources
- 188.8.131.52 Key industry insights
- 184.108.40.206 Breakdown of primaries
- 2.1.3 SECONDARY AND PRIMARY RESEARCH
- 2.2 MARKET SIZE ESTIMATION
- 2.2.1 BOTTOM-UP APPROACH
- 220.127.116.11 Estimating market size by bottom-up approach (demand side)
- 2.2.2 TOP-DOWN APPROACH
- 18.104.22.168 Estimating market size by top-down approach (supply side)
- 2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
- 2.4 RESEARCH ASSUMPTIONS
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
- 22.214.171.124 Rising demand for portable medical devices and wearable sensors
- 126.96.36.199 Increasing elderly population
- 188.8.131.52 Increasing applications of sensor patches to monitor glucose level
- 5.2.2 RESTRAINTS
- 184.108.40.206 Regulatory issues
- 220.127.116.11 Health Insurance Portability and Accountability Act (HIPAA) compliances
- 5.2.3 OPPORTUNITIES
- 18.104.22.168 Growing adoption of telehealth
- 22.214.171.124 Advancements in wearable solutions and digital technologies
- 5.2.4 CHALLENGES
- 126.96.36.199 Issues related to data security due to connected medical devices
- 188.8.131.52 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 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
- 184.108.40.206 Growing need to decrease soaring healthcare costs to drive sensor patch market growth in US
- 11.2.2 CANADA
- 220.127.116.11 Growing need for cost containment in healthcare propels sensor patch market growth
- 11.2.3 MEXICO
- 18.104.22.168 Growing focus on telehealth and wearable healthcare supports growth of sensor patch market in Mexico
- 11.3 EUROPE
- 11.3.1 UK
- 22.214.171.124 Government initiatives to drive adoption of sensor patches in UK
- 11.3.2 GERMANY
- 126.96.36.199 High expenditure for advance health services boosts demand for wearable patches
- 11.3.3 FRANCE
- 188.8.131.52 Sensor patch market in France expected to grow at highest rate in European region
- 11.3.4 REST OF EUROPE
- 11.4 APAC
- 11.4.1 CHINA
- 184.108.40.206 Large patient pool due to COVID-19 epidemic to drive adoption of sensor patches for monitoring and diagnosis
- 11.4.2 JAPAN
- 220.127.116.11 Growing need for advanced medical technologies to meet requirements of elderly population boosts sensor patch market in Japan
- 11.4.3 SOUTH KOREA
- 18.104.22.168 Improving health infrastructure drives sensor patch market in South Korea
- 11.4.4 INDIA
- 22.214.171.124 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
- 126.96.36.199 Middle East is expected to hold largest market share in RoW by 2025
- 11.5.2 SOUTH AMERICA
- 188.8.131.52 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
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
- 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.
- Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View might not be captured in case of unlisted companies.
- 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.
- 14.1 DISCUSSION GUIDE
- 14.2 KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 14.3 AVAILABLE CUSTOMIZATIONS
- 14.4 RELATED REPORTS
- 14.5 AUTHOR DETAILS