ECG Sensor Patch Market Help for timely treatment for patients | Medtronic Plc., Hill-Rome Holdings, Inc., iRhythm Technologies

The growth of the ECG sensor patch market is mainly driven by the growing prevalence of atrial fibrillation around the world. Atrial fibrillation is an irregular and often rapid heart rate that occurs when the two upper chambers of the heart experience chaotic electrical signals. According to the Centers for Disease Control and Prevention (CDC), around 2% of people younger than 65 years old have atrial fibrillation (AFib), while about 9% of people ages 65 and older have AFib. Moreover, it is estimated that around 12.1 million people in the United States will have AFib in 2030 and around 17.9 million people in Europe will have AFib by 2060.

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Thus, with the increasing prevalence of AFib worldwide, the demand for ECG sensor patch is also increasing, which in turn, is driving the ECG sensor patch market growth. Moreover, the growing popularity of technologically advanced, wearable devices is gaining traction among people of all age groups. Furthermore, growing adoption of telehealth and advancements in wearable solutions provide major opportunities for the growth of the ECG sensor patch market. For instance, in October 2020, Dreamtech launched its wearable ECG patch named Cardea SOLO. The disposable wireless patch was approved by South Korean health authorities for commercialization in September 2020, and has received FDA-approval back in 2017.

Moreover, increasing demand for wearable sensors and portable medical devices, increasing use of sensor patches, and growing geriatric population are major factors expected to augment growth of the ECG sensor patch market. According to the World Health Organization (WHO), by 2050, the world's population aged 60 years and older is expected to total 2 billion, up from 900 million in 2015. The increase in demand for wearable sensors and portable medical devices has been directly influencing the growth of the ECG sensor patch market. Rapid increase in the expenditure in the healthcare sector is also expected to drive the market growth.

Growth of the ECG sensor patch market can be attributed to the emergence of COVID-19 around the world. For instance, in May 2020, G Medical Innovations Holdings’ ECG patch received the Food and Drug Administration (FDA) Emergency Use Authorisation for patients being treated for COVID-19. Moreover, the FDA has concluded that the Patch may be effective for remotely monitoring QT syndrome prolongations in COVID-19 patients and may reduce the risk of a healthcare professional's exposure to the disease. This in turn is also expected to propel the ECG sensor patch market growth.

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Major Players Are Operating In This Market Are: Medtronic Plc., Hill-Rome Holdings, Inc., iRhythm Technologies, Inc., AliveCor, Inc., Vivalnk, Inc., Cardiac Insight Inc., VitalConnect, LifeSignals, Inc., and Lief Therapeutics

Highlights of the ECG Sensor Patch report:

1. A complete backdrop analysis, which includes an assessment of the ECG Sensor Patch Market
2. An objective assessment of the trajectory of the market
3. Market segmentation up to the second or third level
4. Reporting and evaluation of recent industry developments
5. Important changes in market dynamics
6. Emerging niche segments and regional markets
7. Historical, current, and projected size of the market from the standpoint of both value and volume
8. Market shares and strategies of key players
9. Recommendations to companies for strengthening their foothold in the market

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