Sensor Patch Market Size, Share, Industry Analysis, Growth Drivers - Global Fore

1. MarketsandMarkets Presents Sensor Patch Market Size, Trends, Share - Global Forecast to 2025 Sensor Patch Market by Product (Temperature, Blood Glucose, Blood Pressure, Heart Rate, ECG, & Blood Oxygen), Application (Monitoring, Diagnostics), Wearable Type (Wristwear, Neckwear, Bodywear), End-user Industry, and Region - Global Forecast to 2025 https://www.marketsandmarkets.com/Market-Reports/sensor-patch-market-50239064.html

2. According to the new research report on the "Sensor Patch Market by Product (Temperature, Blood Glucose, Blood Pressure, Heart Rate, ECG, & Blood Oxygen), Application (Monitoring, Diagnostics), Wearable Type (Wristwear, Neckwear, Bodywear), End-user Industry, and Region - Global Forecast to 2025" This market is expected to reach from USD 1.2 billion in 2020 to USD 6.4 billion by 2025, at a CAGR of 40.5%. The key factors contributing to the growth of the sensor patch market include the rising demand for portable medical devices and wearable sensors, increasing elderly population, and increasing applications of sensor patches to monitor glucose level. Browse 104 market data Tables and 47 Figures spread through 178 Pages and in-depth TOC on "Sensor Patch Market by Product (Temperature, Blood Glucose, Blood Pressure, Heart Rate, ECG, & Blood Oxygen), Application (Monitoring, Diagnostics), Wearable Type (Wristwear, Neckwear, Bodywear), End-user Industry, and Region - Global Forecast to 2025“.

3. Healthcare segment to account for the larger size of the overall sensor patch market in 2020. The healthcare segment is expected to hold the larger share of the sensor patch market, by end-user industry, in 2020. Adoption of sensor patches in clinical healthcare is improving the communication between doctors and medical staff, and hospital or medical institution and the people wearing such patches to track and monitor their health. Also, the emergence of cognitive and predictive technologies has led to a rise in the adoption of sensor patches in the healthcare industry. Sensor patches provide excellent response in medical simulations, medical training, rehabilitation, and surgeries. Ask PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=50239064 APAC is expected to grow at the highest CAGR during the forecast period APAC is expected to witness highest CAGR in the sensor patch market during the forecast period. Being the most populated region in the world, the market in APAC is mainly driven by the increasing per capita healthcare expenditure and disposable incomes. Furthermore, factors such as urbanization, acceptance of innovative technologies by end users, rise in the popularity of wearables, and emergence of in-home healthcare services are responsible for the growth of the sensor patch market in this region.

4. Opportunity: Growing adoption of telehealth Telehealth is an emerging concept in the healthcare sector that can change the current format of care and allow for accessing improved health outcomes in a cost-effective way. Telehealth is a provision and distribution of healthcare remotely using telecommunication technology. Under telehealth, remote patients can obtain clinical services more easily, and hospitals can provide emergency and intensive care services remotely. With the inclusion of more health monitoring wearables, the healthcare industry is moving toward telehealth. These devices can transmit health-related data from patients to doctors and vice versa. Sensor patches monitor, diagnose, and transmit the data wirelessly using various communication technologies, such as NFC and Bluetooth. These advancements help people with limited mobility and those living in remote areas, subsequently resulting in reducing the repetitive visits to hospitals and taking the healthcare industry to a new dimension. Moreover, the huge amount of data generated through the process of telehealth will help in achieving better outcomes from healthcare and scientific researches. Therefore, sensor patches, being inexpensive, flexible, and user-friendly, are expected to add a valuable contribution to telehealth. Request Free Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=50239064

5. Challenge: Issues related to data security due to connected medical devices The wearable technology ecosystem is a data-driven concept. In wearable technology, a huge chunk of data is generated from wearable-enabled devices, sensors, and patches. With the growing use of this technology, the rate of data intrusions is also increasing rapidly. Wearable technology platforms are newly developed, and there is a lack of security standards. Data security and privacy have become major areas of concern for patients and medical service providers owing to the increasing global adoption of sensor patches. The vulnerability of connected medical devices in terms of personal information leakages acts as a challenge for the growth of the sensor patch market. With the proliferation of IoT-based connected medical devices in the global healthcare sector, these medical devices are exposed to the threats of cyberattacks. The connected nature of medical devices makes certain medical devices prone to hacking. Therefore, the manufacturers of such medical devices are required to adhere to stringent standards to ensure patient data privacy and safety. IoT-based sensor patches are hardware solutions that operate through wireless technology. The data collected by these devices is stored on the cloud. Since there is an increased chance of data hacking, patient data security becomes a high-focus area, which requires a significant amount of additional spending. Key Market Players The report profiles the most promising players in the sensor patch market. The markets competitive landscape presents an interesting picture of strategies adopted by many players. Abbott Laboratories (US), Medtronic PLC (Ireland), DexCom, Inc. (US), Gentag, Inc. (US),  iRhythm Technologies, Inc. (US), Preventice Solutions, Inc. (US), Texas Instruments Inc. (US), and Proteus Digital Health, Inc. (US) are few dominant players in the sensor patch market.

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