SENSOR PATCH MARKET TO REACH USD 10.6 BILLION BY 2027 | CAGR 39.3% – FORENCIS RESEARCH

Global Sensor Patch Market: Key Highlights

• According to the new market research report “Sensor Patch Market by Type (Blood-Oxygen Sensor Patch, Temperature Sensor Patch, Blood-Glucose Sensor Patch, ECG Sensor Patch, Heart Rate Sensor Patch, Blood Pressure Sensor Patch, Others), by Application (Diagnostic, Imaging, Fitness & Wellness, Monitoring, Medical Therapeutics, Others), by Wearable Type (Bodywear, Neckwear, Wristwear, Footwear), by End Use Industry (Healthcare, Fitness, Sports), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2020 to 2027)”, the global Sensor Patch market is estimated to reach USD 10.6 Billion by 2027 at a CAGR of around 39.3% during the review period.
• Sensor patch is the type of monitoring and detecting device which is used for monitoring and detecting the physical condition of human body.
• Sensor patch are used in various applications such as diagnostic, imaging, fitness & wellness, monitoring, medical therapeutics, and many other applications.

Global Sensor Patch Market: Key Market Dynamics

• Increasing wearables in healthcare monitoring and technological developments in sensor path are expected to drive the market.
• Moreover, rising demand for portable devices will become an opportunity for the sensor patch market during forecast period.
• However, lack of technological awareness and connection problems will restrain the growth of the market during forecast period.

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Global Sensor Patch Market: Regional Overview

• Europe

Europe is expected to dominate the sensor patch market during forecast period. Advanced technological developments in healthcare industry and supportive government rules and regulations will drive the market during growth period. E-Health services and service providers in the UK, Germany, Italy, and France are engage in developing new policies for people in EU. In September 2019, Government commits to funding healthcare for over 180,000 UK nationals living in the EU for 6 months.

• Asia-Pacific

Asia-Pacific is expected to grow at faster rate during forecast period. China, India, Japan, Australia, New-Zealand, and South Korea are expected to drive the sensor patch market in APAC. Increasing population, increasing healthcare industry, and covid-19 impact will increase the sensor patch market in APAC.  Moreover, increasing demand for fitness, sports, and need for individual monitoring will fueling in the growth of the sensor patch market in APAC.

Global SENSOR PATCH Market: Key Players Overview

• Texas Instruments Incorporated:

The company design, manufacture, and sell embedded and analog semiconductors for various end users such as industrial, automotive, consumer electronics, and IT & telecommunication. The company provide multi-parameter patches, temperature patches, and ECG patches for Wearable fitness and activity monitor applications. The company developed industry's first flexible high frequency 13.56 MHz sensor transponder family. This sensor has extended battery life and will used in consumer wearables, industrial, medical and asset tracking applications.

• Abbott:

The company creates various products for in diagnostics, medical devices, nutrition and branded generic pharmaceuticals applications. The company operates in cardiovascular, diabetes care, diagnostics, neuromodulation, nutrition, and medicines. The company provide sensor glucose monitoring and blood glucose monitoring for personal use and professional use. In June 2020, the company launched FreeStyle Libre 2, an integrated continuous glucose monitoring (iCGM) system to transmit the glucose data every minute with customizable, optional real-time alarms to alert users when their glucose is high or low without scanning. 

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