Sensor Patch Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2018–2024
Sarasota, FL -- (SBWire) -- 06/18/2018 --Sensor Patch Market Overview:
Sensor patch is a small device in resemblance to a chip which is activated by the Radio Frequency Identification (RFID) which is adhered to the human skin in order to detect the physiological changes occurring in the human body. It is extensively used in childcare, geriatric care and long haul therapeutic care. It is used for diagnostic purpose which is mostly preferred by the consumers to diagnose their health conditions. They are important components of the healthcare system as they aid in conveying mind precisely to the patients. They also help in supporting preparatory care and help in measuring treatments taken place.
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Sensor Patch Market Growth Factors:
Increased per capita income in healthcare and rise in income in the hands of people, along with relieve offered by the sensor to the patient are the key factors driving the growth of the sensor patch market. Moreover, consumers inclination towards wearable devices for diagnosis is also propelling the growth of the market. Growing drift of IoT (Internet of things), development in the automation industry, rising use in the smartphones and development in sensors are some of the aspects fuelling the growth of the market. Assimilation of sensor with the device is the factor restraining the growth of the market as it is a very costly process. Demands for the sensor patch by the consumers along with gush in the automotive sector are major opportunities for the sensor patch market. Merging the sensors in more smaller sizes is the challenge faced by the sensor patch market.
Sensor Patch Market Segmentation:
Sensor patch market is bifurcated on the basis of product, application and end use industry. On the basis of product, the sensor patch market is segmented into blood glucose sensor patch, blood pressure sensor patch, temperature sensor patch, heart rate sensor patch, ECG sensor patch, blood oxygen sensor patch and others. On the basis of application the market is classified as diagnostics and monitoring. Diagnostic segment holds the highest share value. Based on the end users the market is classified into healthcare, fitness and sports. Fitness and sports segment is engaged in wide adoption of the sensor patches and contribute more to the market.
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Sensor Patch Market Regional Analysis:
Asia-Pacific (APAC) is expected to grow at the fastest rate in the sensor patch market. Owing to technological advancements and popularity of the sensor patch the market is propelling in the APAC region. Countries like China, India and Japan are majorly contributing to the overall share market. Nevertheless, North America holds large market share. Countries liked Canada and US are also contributing on a large scale to the sensor patch market. Improved research and development is the major factor attributing to the growth of the market in North America.
Sensor Patch Market Competitive players:
Some of the vital competitive players in the sensor patch market are Abbot Laboratories, Gentag Inc, Dexcom Inc, iRhythm Technologies Inc, Kenzen Inc, Isansys Lifecare Ltd, Leaf Healthcare, Feeligreen SA, HIVOX BIOTEK INC, Texas Instruments Incorporated among others.
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