- The rise in usage and awareness of medical wearable sensors due to faster detection of physical discomfort or disfunction in health is driving the market
- Market Size – USD 10.28 Million in 2019, Market Growth - CAGR of 24.7%, Market Trends – Medical Technological advancement, and improvement
NEW YORK, July 16, 2020 /PRNewswire/ -- The global Wearable Patient Sensor market is forecast to reach USD 63.67 Million by 2027, according to a new report by Reports and Data. Wearable sensors in this statement commit to the sensors which are used in smart medical wearable devices. For a better perception of various components of this pharmaceutical industry, the business has been classified as position sensors, inertial sensors, medical-based sensors, motion sensors, pressure sensors, temperature sensors, and others. Others are the level of sensors like humidity sensors and gas sensors. Based on the application, the other section includes smart headwear, neckwear, and based on end-users, the other group.
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The advance in wearable sensors for infants rise in-home, and remote patient monitoring is rapid variations in sensor technology are the significant drivers impelling the market growth. However, privacy and security are some of the essential features of wearable sensor devices, and higher power usage is the major constrains of the growth of the market.
The COVID-19 impact:
As the COVID-19 crisis grows, producers are quickly changing their practice & purchasing priorities to meet the required demand of a pandemic. Each of the segments and its sub-segments is looking at the overall view of the market mentioned above. Market forecasts will provide in-depth insight into industry parameters by accessing growth, consumption, upcoming market trends, and various price fluctuations. With the rise in the number of people suffering from chronic diseases, the overall spending on healthcare facilities is increasing, thereby raising the pressure for a constant watch for alternative options to provide better health care at an affordable cost.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/wearable-patient-sensor-market
Further key findings from the report suggest
- The wearable sensors market accounted for USD 10.28 million in 2019 and is expected to grow at a CAGR of 24.7% from 2019 to 2027
- The Smart Wristwear segment is anticipated to grow significantly and is expected to grow at a high rate over the forecast period
- The Smart Body wears segment dominated the market in 2019 and is forecasted to reach an estimated USD 17.83 million in 2027.
- The consumer vertical emerged as the dominant segment and is anticipated to generate revenue of over USD 14.26 million by 2027.
- The growing demand for wearable sensors in defense is expected to witness moderate growth during the forecast period.
- North America is expected to be the fastest-growing region over the forecast period. Numerous enterprises and several new players have been investing in advanced sensor products. The market in this region is expected to exhibit a CAGR of 24.7% over the forecast period.
- Key participants include Fitbit, Inc, Verily Life Sciences, Cyrcadia Asia Limited, Karnak (US), VitalConnect, Minttihealth, OMRON Corporation, Abbott Laboratories, Koninklijke Philips N.V., Medtronic plc, among others.
For the purpose of this report, Reports and Data have segmented into the global Wearable Patient Sensor market on the basis of Type, Application, End-User, and region:
Type Outlook (Revenue, USD Million; 2017-2027)
- Motion Sensors
- Medical-Based Sensors
- Image Sensors
- Position Sensors
- Pressure Sensors
- Inertial Sensor
Application Outlook (Revenue, USD Million; 2017-2027)
- Smart Wristwear
- Smart Glasses
- Smart Bodywears
- Smart Footwears
End-User Outlook (Revenue, USD Million; 2017-2027)
- Consumer End-users
- Healthcare End-users
- Enterprise End-users
- Industrial End-users
Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Saudi Arabia
- Rest of MEA
- Latin America
- Rest of LATAM
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