Sensor Patch Market to surpass USD 60 billion by 2032, Says Global Market Insights inc.
Sensor Patch Industry size is expected to register 40% CAGR between 2024 and 2032 propelled by rising healthcare wearables demand.
Selbyville, Delaware, Sept. 05, 2024 (GLOBE NEWSWIRE) — Sensor Patch Market is estimated to reach USD 60 billion by 2032, as per a
Europe to Play a Pivotal Role in Market Growth
Europe sensor patch market size is anticipated to register a notable market CAGR from 2024 to 2032, driven by the region’s robust healthcare infrastructure and strong regulatory support for medical innovations. Countries such as Germany, the United Kingdom, and France are at the forefront of adopting sensor patch technology, particularly in the management of chronic diseases and the implementation of remote patient monitoring programs. The European Union’s emphasis on enhancing healthcare delivery through digital solutions and the increasing investment in wearable technology research further bolster the region’s market growth. Additionally, Europe’s aging population and the rising incidence of lifestyle-related diseases are creating a strong demand for sensor patches, positioning the region as a critical contributor to the global market.
Sensor Patch Market Players
Leading companies in the sensor patch industry include Medtronic plc, F. Hoffmann-La Roche Ltd, Dexcom, Inc., Senseonics Holdings, Inc., NXP Semiconductors N.V, Abbott Laboratories, and STMicroelectronics International N.V.
The Sensor Patch Market is witnessing heightened demand driven by significant company efforts to innovate and improve wearable technology. Companies like Dexcom and Abbott Laboratories are advancing sensor patch technology for continuous glucose monitoring and health tracking. Their focus on enhancing accuracy, comfort, and integration with digital health platforms is propelling market growth and meeting the rising consumer demand for advanced health monitoring solutions.
In August 2024, Medtronic plc, a global leader in healthcare technology, announced FDA approval for its Simplera continuous glucose monitor (CGM). The Simplera platform features the Simplera CGM, designed for use with the Smart MDI system and InPen smart insulin pen, and integrates with the MiniMed 780G system through the Simplera Sync sensor.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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