Global Sensor Patch Market is valued at approximately USD xx billion in 2022 and is anticipated to grow with a healthy growth rate of more than xx% over the forecast period 2023-2030. A sensor patch, also known as a wearable sensor or smart patch, is a small electronic device that is worn on the body to monitor various physiological or environmental parameters. These patches are typically designed to be non-invasive and comfortable to wear, making them suitable for continuous monitoring in various applications. The Sensor Patch market is expanding because of factors such as the rising demand for wearable sensors and the increase in demand for portable medical devices Sensor patches contain sensors that can measure and collect data on a range of parameters such as heart rate, body temperature, blood pressure, electrocardiography, glucose levels, respiratory rate, motion, and more. Its importance has progressively increased during the forecast period 2023-2030.
The seamless integration of wearable sensors within the sensor patch allows for real-time data collection, accurate health tracking, and remote patient monitoring. According to Statista, Wearable medical sensors and gadgets were delivered in 85 million units in 2021, with shipments expected to increase up to 160 million by 2024. During this time, the compounded annual growth rate for wearable medical sensor and equipment shipments was 19%. Furthermore, in 2022, The global number of connected mobile devices has risen to over 1.1 billion, up from 929 million the previous year. Another important factor that drives the Sensor Patch market is the increasing demand for portable medical devices. Sensor patches allow for continuous monitoring of vital signs, physiological parameters, and other health-related data. It can also help to track heart rate, body temperature, blood pressure, oxygen saturation, respiratory rate, and more. Continuous monitoring is especially valuable for patients with chronic conditions or those requiring close observation. In addition, as per Statista, in 2021, The global medical device market was valued at USD 536 billion. The market was expected to exceed up to USD 773 billion with a CAGR of 6.16% by 2027. Moreover, the evolution of various diagnostic technologies and the growing adoption of telehealth are anticipated to create lucrative growth opportunities for the market over the forecast period. However, data security due to connected medical devices and design complexities stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Sensor Patch Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increased R&D in the field of wearables, in terms of new and improved technologies, and the rising demand for improved lifestyles. Furthermore, Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising installation and integration of medical devices and healthcare IT systems in the region.
Major market player included in this report are:
Proteus Digital Health, Inc
Texas Instruments Inc
iRhythm Technologies, Inc
Preventice Solutions, Inc
Recent Developments in the Market:
Ø In May 2022, Vivalink has recently unveiled its cutting-edge multi-vital blood pressure patch, designed specifically for remote patient monitoring in commercial research and development settings. This state-of-the-art wearable device utilizes advanced multimodal continuous signal processing, allowing for the simultaneous capture of crucial health metrics, including ECG trace, heart rate, breathing rate, and both systolic and diastolic blood pressure. Leveraging electrical signal-based technology, this innovative patch represents a significant breakthrough in healthcare monitoring, providing a comprehensive and streamlined solution for continuous health assessment and data collection on a single, user-friendly device. The device has been cleared by the FDA/NMPA for ECG and heart rate, as well as the CE for ECG, heart rate, and respiration rate. The blood pressure component is built in and ready for exploration and development. The reusable and rechargeable wearable patch, weighing only 7.5 grammes and the size of a small bandage, requires no additional components such as a wristband or wires to capture blood pressure.
Global Sensor Patch Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product Type , Wearable Type, Application, End User, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type
Temperature Sensor Patch
Blood Glucose Sensor Patch
Blood Pressure/Flow Sensor Patch
Heart Rate Sensor Patch
ECG Sensor Patch
Blood Oxygen Sensor Patch
By Wearable Type
By End User
Fitness and Sports
Middle East & Africa
Rest of Middle East & Africa