ECG Sensor Market

SEATTLE, UNITED STATES, UNITED STATES, October 12, 2022 /EINPresswire.com/ -- Overview:
The ECG sensor patch is a diagnostic tool that healthcare professionals use to diagnose atrial fibrillation. This tool aids in the early detection of disease and ensures that the patient receives appropriate care. The sensor is used to monitor multiple cardiac parameters in individuals with heart disease. This is a wearable patch that continuously records the user's ECG, which aids in the detection and management of arrhythmia. This patch also alerts the patient to their level of stress.

The global ECG Sensor Patch market generated $14.4 million in 2021 and is projected to reach $299.3 billion by 2028, growing at a CAGR of 43.7% over the forecast period (2022 – 2028).

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Drivers:

Rising product launch and approvals from key players is estimated to propel growth of the global ECG sensor patch market during the forecast period. For instance, VitalConnect declared that it has received 510(k) clearance from the U.S. FDA, in December 2017. This clearance is received for its wearable biosensor VitalPatch, now it can be worn for 4-5 days. Moreover, at the Consumer Electronics Show, in January 2019, a smart patch was launched by Lief Therapeutics. This patch uses haptic biofeedback technology which helps users in managing, detecting and curing their stress in real-time.

Furthermore, increasing investments by the key players and several organizations is estimated to augment growth of the global ECG sensor patch market over the forecast period. For instance, Cardiac Insight, Inc. collected US$ 4.5 Mn funding from various organization for the distribution, sales and production of ECG heartbeat sensor called as Cardea SOLO device, in September 2017. Similarly, Kenzen and Stanford University gained US$ 5 million funding for developing, supporting and marketing of the ECHO Smart Patch wearable technology in 2017. This device measures vital signs of athletes and avoids illness and injuries.

Moreover, increasing incidences of atrial fibrillation is anticipated to fuel growth of the global ECG sensor patch market over the forecast period. For instance, the Centers for Disease Control and Prevention (CDC) mentioned that owing to atrial fibrillation more than 750,000 hospitalizations and 130,000 deaths took place in 2017 in the U.S. Key players are focusing on strategies like acquisitions and partnerships for expanding their product portfolio. Medtronic Plc. Acquired EPIX Therapeutics, Inc. in January 2019. This acquisition aims to expand the cardiac ablation portfolio of Medtronic’s. Similarly, LifeSignals, Inc., Dreamtech and INQCEL collaborated for supporting the manufacturing and development of a wearable biosensor, in June 2018.

The following Key Players are Mentioned in this Document: Lief Therapeutics Vivalnk, Inc., Medtronic Plc., LifeSignals, Inc., Hill-Rome Holdings, Inc., VitalConnect, iRhythm Technologies, Inc., Cardiac Insight Inc. and AliveCor, Inc.

ECG Sensor Patch Market: Segmentation

By Product Type:
Hardware
Software

By Application:
Monitoring
Diagnostics

ECG Sensor Patch Market: Regional Analysis

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

(*NOTE: To get customization to your liking you can ADD / REMOVE Key Players, Regions, and any other Segments as you need.)

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How Covid 19 Affected the ECG Sensor Patch Market

Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost every country around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the Impact ECG Sensor Patch market in 2020. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations, travel bans, and quarantines, restaurants closed, all indoor/outdoor events restricted, over forty countries’ state of emergency declared, massive slowing of the supply chain, stock market volatility, falling business confidence, growing panic among the population, and uncertainty about future.

In this segment, we will give you the impact of COVID-19, how it affected the ECG Sensor Patch market, and how it will change the industry’s future depending on the current government, private, and public situations. Our expert analysts keep an open eye on every situation that may change the flow of the industry which will help you make the best possible decision for your enterprise.

The objective of the study is to define the ECG Sensor Patch market sizes of different segments and countries in previous years and to forecast the values for the next five years. The report is designed to incorporate qualified qualitative and quantitative aspects of the industry with respect to each region and country involved in the study. Furthermore, the report also caters the detailed information about crucial aspects such as drivers and restraining factors that will define the future growth of the ECG Sensor Patch market.

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Report Coverage:

• Provides a comprehensive understanding of the ECG Sensor Patch market with the help of informed market outlook, opportunities, challenges, trends, size and growth, competitive analysis, major competitors, and Porter’s five analysis

• Identifies the key drivers of growth and challenges of the key industry players. Also, assesses the future impact of the propellants and restraints on the market

• Uncovers potential demands in the market

• Porter analysis identifies competitive forces within the market

• Provides information on the historical and current market size and the future potential of the market

• Provides sizes of key regional markets using yardsticks of processes, segments, products, end-user, technology, etc (as applicable)

• Highlights the competitive scenario of the market, major competitors, market share, benchmarking, investments, and merger acquisitions

Why Choose ECG Sensor Patch Market Report?

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