Wearable Patient Sensor Market to Reach USD 1392.6 Million by 2028 - Rising Pressure Injuries Caused by Accidents Drive the Market - Vantage Market Research
WASHINGTON, Feb. 14, 2022 (GLOBE NEWSWIRE) -- In recent years more than 15.5 Million people globally develop pressure injuries, which are one of the most common complications occurring in hospitals. Although these injuries can be treated by conventional methods of treatment by regular patient turning. A wearable patient sensor is used to optimize turning practices and improve clinical outcomes. Wearable patient sensors are currently used among major hospitals and have extraordinary benefits such as cost effectiveness, patient monitoring advantages, increased productivity, and many more. Hence using wearable patient sensor in modern healthcare system is expected to generate large revenue in coming years, states Vantage Market Research, in a report, titled “*Wearable Patient Sensor Market by Product (Pressure Sensor, Temperature Sensor, Position Sensor, Other Types), by Application (Smart Wristwear, Smart Glasses, Smart Bodywears, Smart Footwears), by End User (Healthcare, Consumer Electronic, Sports/Fitness, Other End-user Verticals), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.*The market size stood at USD 347.2 Million in 2021. The Global Wearable Patient Sensor Market size is expected to reach USD 1392.6 Million by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 11.2% during the forecast period.
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*List of Prominent Players in the Wearable Patient Sensor Market:*
· Fitbit Inc. (US)
· Verily Life Sciences (US)
· Cyrcadia Asia Limited, Karnak (US)
· Vital Connect (US)
· Mintti health (China)
· OMRON Corporation (Japan)
· Abbott Laboratories (US)
· Koninklijke Philips N.V. (Netherlands)
· Medtronic plc (US)*The report on Wearable Patient Sensor Market highlights:*
· Assessment of the market
· Premium Insights
· Competitive Landscape
· COVID Impact Analysis
· Value Chain Analysis
· Historic Data, Estimates and Forecast
· Company Profiles
· Porter’s Five Forces Analysis
· Global and Regional Dynamics*Market Overview*:
*Increased Productivity & High Efficiency in Patient Recovery Drive the Market *
Flexible wearable patient sensors are currently being used in measuring motor-related symptoms such as balance, gait, and spasticity symptoms. Benefits of designing patient friendly wearable sensors which can be easily placed on the hips, knees, & legs will allow the development of more digital biomarker systems that can continuously monitor patient activity & improve patient care. This is not only increasing productivity in hospitals but also safeguarding patient’s healthcare. The other advantages of this product are high cost and high population. These are some of the factors that are driving the Wearable Patient Sensor Market globally.
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*Security & Privacy Concerns of Wearable Technology in Healthcare is Considered to Slow Down the Wearable Patient Sensor Market*
Security & Privacy concerns of wearable devices for user data provides various facilities such as hacking & manipulation, insecure communication, physical theft of data, use of wearable technology for spying, lack of encryption and other vulnerabilities. These are some of the major points that might slow down the market.
*COVID-19 Impact Analysis:*
The COVID-19 outbreak has affected various industries worldwide. The Wearable Patient Sensor Market also had a huge impact. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the swift spread of COVID-19. These actions led to a severe impact on the global economy impairing various industries. Moreover, reduced manufacturing activities further affected the demand for wearable patient sensor technology across the globe. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data- points:
1. Impact Assessment of COVID-19 Pandemic
1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East & Africa
2. Quarterly Market Revenue Forecast by Region 2020 & 2021
3. Key Strategies Undertaken by Companies to Tackle COVID-19
4. Long Term Dynamics
5. Short Term Dynamics
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*Regional Analysis:*
*Increasing Growth of Wearable Patient Sensor Market in North America*
North America accounted for the largest share of the Wearable Patient Sensor Market in 2021. The large share of this region in the Global Wearable Patient Sensor Market can be attributed to the factors such as the rising prevalence pressure injuries across globe. The Asia Pacific is expected to grow at the fastest rate during the forecast period, owing to the prevalence for the use of wearable patient sensor and the overcrowding of hospitals. Wearable devices are also used for patient management and disease management. The wearable applications in countries such as U.S. & Canada are making progress in wearable patient sensor technologies that could improve the quality of patient care while reducing the cost of care. This data is generated by wearable devices which provides both challenge and opportunity for researchers especially in these countries and is used to apply more artificial intelligence (AI) techniques on these data in the future.
Browse market data Tables and Figures spread through 154 Pages and in-depth TOC on *"Wearable Patient Sensor Market by Product (Pressure Sensor, Temperature Sensor, Position Sensor, Other Types), by Application (Smart Wristwear, Smart Glasses, Smart Bodywears, Smart Footwears), by End User (Healthcare, Consumer Electronic, Sports/Fitness, Other End-user Verticals), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)"* View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/wearable-patient-sensor-market-953269
*Key questions answered in the report: *
· Which regional market will show the highest and rapid growth?
· Which are the top five players of the Wearable Patient Sensor Market?
· How will the Wearable Patient Sensor Market change in the upcoming six years?
· Which application and product will take a lion’s share of the Wearable Patient Sensor Market?
· What is the Wearable Patient Sensor market drivers and restrictions?
· What will be the CAGR and size of the Wearable Patient Sensor Market throughout the forecast period?
This market titled “Wearable Patient Sensor Market” will cover exclusive information in terms of Geographic Segmentation, Regional Analysis, Forecast, and Quantitative Date – Units, Key Market Trends, and various others as mentioned below:
Report Attribute Details
*Market Size in 2021* *USD 347.2 Million*
*Projected Market Size in 2028* *USD 1,392.6 Million*
*CAGR Growth Rate* *CAGR of 11.2% From 2022 - 2028*
Base Year 2021
Historic Years 2016 - 2020
Forecast Years 2022 - 2028
Segments Covered Product
• Pressure Sensor
• Temperature Sensor
• Position Sensor
• Other Types
Application
• Smart Wristwear
• Smart Glasses
• Smart Bodywears
• Smart Footwears
• Others
End User
• Healthcare
• Consumer Electronic
• Sports/Fitness
• Other End-user Verticals
Quantitative Data - Units Revenue in USD Million/Billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
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