Global Sensor Patch Market, By Product Type (Temperature Sensor Patch, Blood Glucose Sensor Patch, Blood Pressure/Flow Sensor Patch, Heart Rate Sensor Patch, Blood Oxygen Sensor Patch and Others), By Application (Diagnostic & Imaging, Monitoring, Others), By End User (Hospitals & Clinics, Home Care, Laboratory Diagnostic, Fitness and Sports), By Region, Competition Forecast and Opportunities, 2027
New York, Jan. 26, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Sensor Patch Market, By Product Type, By Application, By End User, By Region, Competition Forecast and Opportunities, 2027" - https://www.reportlinker.com/p06020716/?utm_source=GNW
Global sensor patch market is valued at USD950.76 million in 2021 and is anticipated to grow with a CAGR of 11.83% in the forecast period to reach USD1817.62 million by 2027. Increasing prevalence of chronic diseases, rising adoption of preventive healthcare practices, and introduction of advanced sensor patches are the key factors that are expected to drive the demand for the global sensor patch market during the forecast period.
Increasing disposable income of consumers enables them to afford quality healthcare services, and equipment and the rise in the market players offering innovative solutions are accelerating the adoption of new technologies among consumers.The rise in the number of people who have diabetes and other severe conditions which require constant monitoring of parameters such as blood glucose levels to control diseases are fueling the demand for sensors among patients all over the globe.
Consumers prefer compact and portable devices as they are easy to use and sometimes do not require external medical supervision.Patients can easily carry sensor patches and check the medical results instantaneously, increasing the demand and usage of sensor patches around the world.
However, lack of product awareness and high cost of sensor patches may restrain the market growth in the forecast period.
The global sensor patch market is segmented based on product type, application, end user, regional distribution, and company.On the basis of regional analysis, North America is expected to hold the largest market share in the forecast period, 2023-2027.
The rise in the number of people who have diabetes, cardiovascular diseases, which sometimes result in the death of patients in the region, is increasing the sales of sensor patches during the forecast period. Also, the ongoing COVID-19 diagnostics tests are creating the need for patient monitoring and analysis to take necessary steps at an early stage, accelerating the demand for sensor patches in the region.
Major players operating in the global sensor patch market are iRhythm Technologies Inc., DexCom Inc., g.tec medical engineering GmbH, Medtronic PLC, Texas Instruments Inc., Abbott Laboratories Inc., Feeligreen SA, Gentag, Inc., and G-Tech Medical, Inc.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023-2027
Objective of the Study:
• To analyze the historical growth and the market size of the Global Sensor Patch market from 2017 to 2021.
• To estimate and forecast the market size of the Global Sensor Patch market from 2022 to 2027 and growth rate until 2027.
• To classify and forecast the Global Sensor Patch market based on product type, application, end user, regional distribution and competitional landscape.
• To identify drivers and challenges for the Global Sensor Patch market.
• To examine competitive developments such as expansions, new product launches, mergers, and acquisitions, etc., in the Global Sensor Patch market.
• To conduct pricing analysis for the Global Sensor Patch market.
• To identify and analyze the profile of leading players operating in the Global Sensor Patch market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of leading manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the product offerings, distribution channels and presence of all major players operating in the Sensor Patch market all over the world.
The analyst calculated the global Sensor Patch market size using a bottom-up approach, where data for various regions was recorded and forecasted for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Sensor patch manufacturers, suppliers, distributors, and other stakeholders
• Government bodies such as regulating authorities and policy makers
• Organizations, forums, and alliances related to Sensor Patch market
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Sensor Patch manufacturers, suppliers, distributors, and other stakeholders. The report would enable the stakeholders in strategizing investments and capitalizing on emerging market opportunities.
In this report, Global Sensor Patch Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Sensor Patch Market, By Product Type:
o Temperature Sensor Patch
o Blood Glucose Sensor Patch
o Blood Pressure/Flow Sensor Patch
o Heart Rate Sensor Patch
o Blood Oxygen Sensor Patch
• Sensor Patch Market, By Application:
o Diagnostic & Imaging
• Sensor Patch Market, By End User:
o Hospitals & Clinics
o Home Care
o Laboratory Diagnostic
o Fitness and Sports
• Sensor Patch Market, By Region:
o North America
o Middle East & Africa
o South America
Company Profiles: Detailed analysis of the major companies present in Global Sensor Patch Market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06020716/?utm_source=GNW
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