Global ECG Sensor Patch Market: Overview
Preference for wearable gadgets is rising, particularly for the ones that can monitor vital signs of human health, which is why noticeable growth can be seen in the global ECG sensor patch market. Besides, growing use and popularity of high-end, technologically advanced wireless and mobile wearable gadgets is gaining traction among people of all age groups. Therefore, global ECG sensor patch market is likely to gain impetus from growing popularity of such wearable devices.
The global ECG Sensor Patch market has been segmented on the basis of 4 parameters, namely end use, application, product, and region.
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Global ECG Sensor Patch Market: Notable Developments
The following development in the global ECG sensor patch market reveals the changing market dynamics:
- In January 2019, at the Consumer Electronics Show US-based Lief Therapeutics introduced a smart patch. The patch enables users in easy detection, treatment, and management of stress in real time utilizing technology of haptic biofeedback. This invention has enabled the company to tread on the parallel path of both clinical and consumer interest.
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A few of the leading market vendors of the global ECG sensor patch market are as mentioned below:
- Hill-Rome Holdings Inc.
- Cardiac Insight Inc.
- Medtronic Plc.
- Lief Therapeutics
- Vivalnk, Inc.
- VitalConnect
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Global ECG Sensor Patch Market: Key Trends
The following drivers, restrains, and opportunities is expected to shape the future course of the global ECG Sensor Patch market during the study period, from 2019 to 2027.
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Growth of the global ECG sensor patch market is likely to be fuelled by the growing prevalence of atrial fibrillation. In accordance with the findings of Centers for Disease Control and Prevention (CDC), nearly 2.7 to 6.1 million people are affected with atrial fibrillation in the U.S. alone. It is highly likely that this no will increase manifolds over the years. Rise in number of such patients is owing to the expanding base of geriatric population. Nearly 2% of the aging population is affected by atrial fibrillation.
Increased activities for clinical trials together with positive outcome of those trials have demonstrated that asymptomatic atrial fibrillation is possible to be diagnosed early with the help of ECG monitoring patch. This is anticipated to add impetus to the global ECG Sensor Patch Market in forthcoming years. The 67th Annual Scientific Session held at the American College of Cardiology in May 2018. It was there that Janssen Pharmaceutical, subsidiary of Johnson & Johnson, declared the outcome of its home based clinical trial. The outcome of the trial proved that wearable ECG monitoring patch helps in the early identification of people suffering from asymptomatic atrial fibrillation than the other conventional procedures.
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In addition, growing investment by market players and many other organizations is likely to fuel the growth of the global ECG Sensor Patch market. For example, Cardiac Insight Inc. collected US$ 4.5 million from different organizations in order to accentuate distribution, sales, and production of wearable sensor of ECG heartbeat.
Global ECG Sensor Patch Market: Geographical Analysis
Latin America, North America, Europe, Middle East and Africa, and Asia-Pacific are the major regions of the global ECG Sensor Patch market.
From the geographical standpoint, North America is expected to account for a leading position in the global ECG Sensor Patch market in years to come. Much of its market dominance is owing to the growing prevalence of atrial fibrillation and various heart conditions. According to the findings of American Heart Association, in the U.S. stroke emerged as the major reason for death in 2016. Another 2.7 million suffering from atrial fibrillation, which gives the demand for ECG sensor patch market a thrust in the region.
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