Sensor Patch Market Outlook 2027 Global Industry Size, Share, Trends, Competition, Opportunity

According to TechSci Research, Global sensor patch market was valued at USD950.76 million in 2021 and is anticipated to project robust growth in the forecast period with a CAGR of 11.83% owing to rising chronic illnesses and growing demand for portable devices are driving the growth of the global sensor patch market in the upcoming years.

A sensor patch is a wearable patch that monitors and diagnoses physiological parameters that can be tracked and analyzed remotely. Sensor patches are attached to the human body to monitor a range of vital signs and provide specific treatments when required. A sensor patch is applied to a patient's skin with adhesive and features foam parts and embedded electronics to monitor the patient's physiological signs, such as pulse.

Rapid Advancement in Sensor Patch Driving Market Growth

Growing research and development efforts to upgrade and build more novel sensor patches are assisting market expansion by generating unique sensor patches that can monitor more essential data. For example, a silk-based sweat analysis sensor patch, an N-doped internal image structure and the subsequent fabric, is produced from carbon textiles to simultaneously detect six health-related biomarkers. The perforated structure allows it to perform as an efficient electrode with high electrochemical sensitivity by providing superior electrical carbon textile conductivity, abundant functional sites, and effective water absorption to transfer active electrons and enable better access to reactants. This sensor is used to create a dual-acting sweat analysis component that can detect glucose, lactate, ascorbic acid, uric acid, Na +, and K + all at the same time. The customers can witness real-time sweat analysis thanks to the device's combination of selected receivers, signal gathering, and transmission components.

Increasing High Adoption of Telehealth in Global Sensor Patch Market

The rate of use of telehealth technology has increased in recent years. Digital information and communication technology, such as computers and mobile devices, are utilized to administer self-health care and access healthcare services remotely. As customers have begun to focus on the convenience of utilizing sensor patches, adoption of novel technologies such as sensor patches has surged and continues to develop. Furthermore, customers' perceptions that technology will make their lives easier, resulting in higher levels of happiness, are contributing to a higher rate of sensor patch adoption. Furthermore, an increase in disposable income and a shift in client lifestyles are two other variables that are favorably driving the market growth.

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Adoption of IoT Devices

In recent years, various sectors throughout the world have adopted the Internet of Things (IoT). Sensors have long been a feature of the Internet of Things, where they are employed in a variety of applications. The healthcare sector, like many other industries, is seeing an increase in the adoption of IoT technology, such as developments in wireless technology, device shrinking, and innovation in connected medical devices. IoT connects the digital and physical worlds to improve diagnosis and treatment speed and accuracy, as well as monitor and change patient behavior and health condition in real-time. Furthermore, because the sensor patches are an IoT device, they can be used by people without medical supervision. Other technologies, such as big data, artificial intelligence, mobile applications, and 3D printing, are also opening up new doors for MedTech firms. Telemedicine, for example, is utilized for virtual consultations in the same way that sensor patches are used to monitor vital signs.

Personalized and Contactless Operations Aids in Market Growth

The COVID-19 pandemic has highlighted the importance of utilizing the digital infrastructure to remotely monitor patients. As virus and vaccine tests move slowly, the demand for reliable diagnostic and monitoring of individual and public health has grown, which the sensor patch can help with. Although this technology has been utilized to connect the daily living and human performance measures, it is required to change such technologies for precautions. The fact that sensor patches may be utilized independently, making them individualized and contactless from other people, has given the business a boost. Along with COVID-19, a variety of different viral symptoms linked to a variety of physiological changes can be tracked using sensor patches in a tailored manner, propelling the global sensor patch market forward.

Market Segmentation

The global sensor patch market is segmented based on Product type, Application, End User, region, and by company. Based on Product type, the market is further fragmented into the Temperature Sensor Patch, Blood Glucose Sensor Patch, Blood Pressure/Flow Sensor Patch, Heart Rate Sensor Patch, Blood Oxygen Sensor Patch and Others. Based on Application, the market is segmented into Diagnostic & Imaging, Monitoring, Others. Based on End User, the market is segmented into Hospitals & Clinics, Home Care, Laboratory Diagnostic, Fitness and Sports. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Asia-Pacific region, North American region, European region, South American region, and the Middle East & Africa region. In terms of country, the United States leads the sensor patch market with a CAGR of 11.94% in the forecast period 2023-2027.

Company Profiles

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., are among the major market players in the global platform that lead the market growth of the global sensor patch market.

Attribute	Details
Market size value in 2021	USD950.76 Million
Revenue Forecast in 2027	USD1817.62 Million
United States Market size value in 2021	USD236.51 Million
Growth Rate	11.83%
Base Year	2021
Historical Years	2017 – 2020
Estimated Year	2022
Forecast Period	2023 – 2027
Quantitative Units	Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027
Report Coverage	·         Revenue forecast, company share, competitive landscape, growth factors, and trends
Segments Covered	·         Product Type ·         Application Type ·         End User
Regional Scope	North America; Europe; Asia Pacific; South America; Middle East & Africa
Country Scope	United States; Mexico; Canada; China; India; Japan; South Korea; Australia; Germany; France; United Kingdom; Spain; Italy; Saudi Arabia; UAE; South Africa; Brazil; Argentina.
Key Companies Profiled	iRhythm Technologies Inc., DexCom Inc., g.tec medical engineering GmbH, Medtronic PLC, Texas Instruments Inc., Abbott Laboratories Inc., Feeligreen SA, Gentag, Inc., G-Tech Medical, Inc., Hivox Biotek Inc.
Customization Scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

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:
• Temperature Sensor Patch

o   Blood Glucose Sensor Patch

o   Blood Pressure/Flow Sensor Patch

o   Heart Rate Sensor Patch

o   Blood Oxygen Sensor Patch

o   Others

• Sensor Patch Market, By Application:
• Diagnostic & Imaging

o   Monitoring

o   Others

• Sensor Patch Market, By End User:
• Hospitals & Clinics

o   Home Care

o   Laboratory Diagnostic

o   Fitness and Sports

• Sensor Patch Market, By Region:
• North America
• United States
• Canada
• Mexico
• Europe
• Germany
• France
• Italy
• Spain
• United Kingdom
• Asia-Pacific
• China
• Japan
• Australia
• South Korea
• India
• Middle East & Africa
• Saudi Arabia
• UAE
• South Africa
• South America
• Brazil
• Argentina
• Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Global Sensor Patch Market.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

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