Sensor Patch Market Intelligence and Analysis for Period 2017 - 2025

Sensors play an important role in healthcare as they are able to deliver care directly to patients. With advancement in technology, sensor patches are now available, that are able to collect the patient data to encourage precautionary care, diagnostics, as well as measure treatment results. A sensor patch gathers bio sensing information of each individual and sends it through wired or wireless protocols such as NFC to transmit it to smart devices.

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These sensors are continuously analyzing individual patient activity and automatically predicting ailments before the patient feels sick. The advent of internet of things (IoT) in healthcare is also helping in boosting the overall growth of the sensor patch market. Sensor patches as per requirement, are able to generate analytics to alert doctors about the signs of life threatening diseases such as heart failure, kidney failure, stroke etc. Sensor patches have become an asset for patients to manage critical conditions including rheumatoid arthritis or Parkinson’s disease.

The main drivers impacting the growth of the sensor patch market include increasing investments in healthcare in both developed and emerging economies, rising disposable income in emerging economies, increasing health awareness among people, and shifting consumer behavior toward wearable especially in health monitoring. Also, the growing cosmetic industry and growing demand for telehealth especially in developed economies is set to boost the growth of the sensor patches market. The growing design complexity in sensor patches is one of the major challenges affecting the overall growth of this market. The Health Insurance Portability and Accountability (HIPAA) Act is one of the major restraints impacting the growth of the global sensor patch market as the data generated by different product manufacturers, and mobile application makers is being secured under regulations of Health Insurance Portability and Accountability Act (HIPAA). Hence, vendors involved in data computing and analytics must adhere to HIPAA compliances as well as work toward staying innovative in the market to increase their market share. However, the growing demand for self testing devices is driving the overall growth of the sensor patch market. Also sensor patches are in great demand in the childcare sector as infants cannot communicate about their health status.

The global sensor patch market can be categorized on the basis of product type, application, end use industry, and region. In the global sensor patch market, the product type segment can further be classified into blood oxygen sensor patch, heart ECG sensor patch, temperature sensor patch, blood pressure or flow sensor patch, rate sensor patch, blood glucose sensor patch, and others. On the basis of application, the market can be categorized into diagnostic, monitoring, imaging, wellness and fitness, medical therapeutics and others. On the basis of end use industry, the market can be categorized into healthcare, and fitness and sports. On the basis of geography, the global sensor patch market is categorized into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The growth of the sensor patch market in the Asia Pacific region is mainly driven by increasing disposable incomes and per capita healthcare expenditure. Furthermore, factors such as growing urbanization, consumers’ shifting preference toward innovative technologies, and popularity of wearables among people are responsible for the growth of the sensor patch market in this region.

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The major players in the sensor patch market are Abbott Laboratories, DexCom, Inc. Feeligreen SA, Frontier Smart Technologies Group Ltd., Gentag, Inc., G-Tech Medical, Inc., HIVOX BIOTEK INC., Hocoma AG, iRhythm Technologies, Inc., Isansys Lifecare Ltd., Kenzen, Inc., Leaf Healthcare, Inc., MC 10, Inc., Medtronic plc, and MTG Co., Ltd. among others.

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