Report ID: SQMIG45H2058
Report ID:
SQMIG45H2058 |
Region:
Global |
Published Date: October, 2024
Pages:
197
|
Tables:
95 |
Figures:
76
North America is dominating with the largest sensor patch market share. The market is expected to expand significantly in North America because of the increasing demand for advanced healthcare solutions, robust research and development efforts, and promotion of innovative therapies. In addition, North America's prominence as a leading manufacturing hub for sophisticated wearable medical devices is anticipated to propel market growth in the region. The U.S. wearable patch market held a significant share of North America's wearable patch market in 2024, as chronic conditions are becoming more prevalent, especially among the geriatric population. Increasing investments in the technological advancement of wearable medical devices and rising R&D spending are factors contributing to the growth of the market in this region. With a strong healthcare infrastructure and continuous advancements in medical therapies, the U.S. market for wearable patch is poised for growth.
Over the course of the projected period, it is anticipated that the sensor patch market in Europe would expand with the highest growth rate. The Europe wearable patch market is witnessing dynamic growth, supported by technological innovations and increasing healthcare needs. Startups like French medical firm RDS, which recently secured USD 14.3 million in seed funding for its patented Remote Patient Monitoring (RPM) solution Multisense in October 2023, exemplify the sector's vitality. These patches offer advanced capabilities such as real-time monitoring of vital signs, facilitating early intervention, and personalized patient care. Key trends include the integration of AI and IoT for data analytics and enhancing predictive health insights. Biocompatible materials and ergonomic designs are improving patch wearability and adherence. In the UK, the wearable patch market is experiencing notable growth, driven by advancements in healthcare technology and rising demand for remote monitoring solutions.
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Report ID: SQMIG45H2058