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Sensor Patch Market by Product, Application, End-User Industry And Geography - Global Forecast to 2023

Sensor Patch Market: Global Forecast until 2023

  • August 2017
  • 144 pages
  • ID: 5068469
In this report:
THE SENSOR PATCH MARKET IN JAPAN FOR OTHER SENSOR PATCHES SUCH AS MOTION AND STRESS SENSOR PATCHES IS EXPECTED TO BE VALUED AT USD ##.## THOUSAND BY 2023, AT THE HIGHEST CAGR OF ##.##% DURING THE FORECAST PERIOD.
THE SENSOR PATCH MARKET IN APAC FOR OTHERS SENSOR PATCHES SUCH AS MOTION AND STRESS SENSOR PATCHES IS EXPECTED TO BE VALUED AT USD ##,##.## THOUSAND BY 2023, AT THE HIGHEST CAGR OF ##.##% DURING THE FORECAST PERIOD.

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"Sensor patch market is estimated to rise at a compound annual growth rate of ~47.0 percent between 2017 and 2023"

The sensor patch market has entered the increase phase and is anticipated to grow further in the next years. The sector is anticipated to be worth $562.10M by 2023, at a compound annual growth rate (CAGR) of ~47.0 percent between 2017 and 2023. The drivers for this sector are growing per capita healthcare expenditure and disposable incomes in OECD countries, consumer preference for wearable in health monitoring application, and comfortability provided by sensor patch.

The main restraint for this industry is Health Insurance Portability and Accountability Act compliances.

"Market for ECG sensor patch forecasted to grow at the highest CAGR (Compound annual growth rate) during the outlook period"

The ECG sensor patch market is anticipated to grow at the highest compound annual growth rate (CAGR) during the estimate period. One of the main reasons why ECG sensor patch would drive the industry is the growing consumer awareness for wearable devices primarily for fitness applications. Flexible, lightweight, and connected sensor patches offer convenience to sports actors and athletes. Sports actors and athletes can manage to intensify their performance. Individuals can reach their personal fitness goals by tracking heart rate to preserve the right intensity of work out by using sensor patch.

Also, the healthcare market is predicted to push the use of ECG sensor patch according to its wireless connectivity that would drive the convenience to patients during sleep, personal hygiene, or medical care.

"Sensor patch market for monitoring application recorded for the biggest share in 2016"

The sensor patches are widely adopted for monitoring purposes in the healthcare, and fitness and sports sector. Healthcare is gaining traction with the use of sensor patch for communication between doctors and medical staff, hospital or medical institution, and the wearer of sensor patch to track and monitor the health of the patients. Also, the value added by sensor patch in sports to help athletes train, perform, and recover from injuries is driving the monitoring application.

Furthermore, the rising average life expectancy of the population global, along the aggravated prevalence of heart-related diseases and diabetes, is driving the sector for the monitoring application.

"Asia-Pacific is anticipated to be the quickest developing market for sensor patch during the outlook period"

Being the most populated area in the globe, the industry in Asia-Pac is primarily driven by growing per capita healthcare expenditure and disposable incomes. Moreover, Elements such as urbanization, individuals' acceptance of innovative technologies, and popularity of wearables and in-home healthcare services are responsible for the increase ot the sensor patch market in this area.

Key players' distribution profiles:

• By Organization: Tier 1 = 25 %, Tier 2 = 55.0 percent, and Tier 3 = 20.0 percent

• By Description: C-suite executives = 30.0 percent, Directors = 30.0 percent, and Others = 40.0 percent

• By Area: North America continent = 45.0 percent, EU = 17.0 percent, Asia-Pacific = 30.0 percent, and RoW = 8.0 percent

Segment Research

The study segments in the sensor patch market report are products-includes temperature sensor patch, blood glucose sensor patch, blood pressure/flow sensor patch, heart rate sensor patch, ECG sensor patch, blood oxygen sensor patch, and others-and applications-covering monitoring, diagnostics. The market research also includes end-user sectors, and geographic forecast of the market size for various parts with regard to four main regions-North America, Europe (EU), Asia-Pac, and RoW.

Why acquiring this study can help you

The study would benefit the market top players/new sector entrants in this sector in these ways:

1. This document breaks down the sensor patch market comprehensively and offers the closest approximations of the global market size and those of the subsegments across distinct applications and localities.

2. The analysis contributes the in-depth review of the sensor patch market with the help of business model study, competitive leadership mapping, and value chain study containing top firms in the sector and their relations in the ecosystem.

3. The market research benefits partners to apprehend the pulse of the sector and offers them information on main market drivers, market restraints, opportunities, and alternatives.

4. This industry report would benefit partners to comprehend their players better and acquire additional insights to improve their rank in the business sector. The competitive outlook section includes competitor landscape, new industry product developments, alliances, and mergers & acquisitions in the sensor patch market.

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