ECG Sensor Patch Market - Global Forecast to 2026, by Product Type (Hardware and Software), by Application (Monitoring and Diagnostics), by End User (Healthcare and Fitness and Sports), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Trends, and Forecast 2018 - 2026
- Report code : CMI42832 |
- Industry :
Medical Devices
- Published On : Jul 2019 |
- Pages : 156 Pages |
- Format :
Global ECG Sensor Patch Market – Breakthrough for Cardiac Patients
ECG sensor patch play a major role in advanced healthcare, as it aids in detection of early asymptomatic atrial fibrillation (AFib). The sensor monitor is based on various parameters for continuously monitoring of the heart rhythm in cardiac patients.
The global ECG sensor patch market size was valued at US$ 11.7 million in 2017, and is expected to exhibit a CAGR of 43.7% over the forecast period (2018–2026).
Figure 1. Global ECG Sensor Patch Market Value (US$ Mn), by Region, 2018
Source: Coherent Market Insights Analysis (2019)
Technological advancements in ECG sensor patch and new product launch is expected to propel the market growth
Market players are focused on technological advancement and product launch in the potential market, which is expected to drive the global ECG sensor patch market. For instance, in 2016, VitalConnect launched the VitalPatch biosensor at the 2016 HIMSS Conference. The lightweight, wireless patch continuously monitors and records single lead ECG, heart rate, variability, respiratory rate, and other parameters with clinical accuracy.
Increasing focus of researchers on monitoring various body parameters is expected to augment the market growth over the forecast period. For instance, in 2016, engineers at the University of California, San Diego developed the first flexible wearable device that records ECG heart signals and tracks levels of lactate, a biochemical that is a marker of physical effort, in real time.
Rising strategic acquisitions and collaborations by market players for expanding their offerings in the market is expected to bolster the market growth. For instance, in January 2019, Medtronic Plc. announced to acquire EPIX Therapeutics, Inc. The acquisition is expected to expand Medtronic’s cardiac ablation portfolio for treating patient with cardiac arrhythmia.
However, high cost of ECG sensor monitoring patch is expected to hinder the market growth. For instance, Welch Allyn subsidiary of Hill-Rom Holdings, Inc.’s., TAGecg Wearable ECG Sensor costs around US$ 966, which can cause cost burden to lower economic regions.
Figure 2. Global ECG Sensor Patch Market Share (%), by Product Type, (2018-2026)
Source: Coherent Market Insights Analysis (2019)
Increasing prevalence of Atrial Fibrillation in North America is expected to bolster the market growth
North America holds dominant position in the global ECG sensor patch market over the forecast period, owing to increasing prevalence of atrial fibrillation and other cardiac conditions. According to American Heart Association, in 2016, stroke was a leading cause of death in the U.S. with around 2.7 million people in the country living with atrial fibrillation and around 800,000 suffering from a stroke, annually. It was due to block or bursts in the blood vessel that supplies blood to the brain. Therefore, increasing prevalence of atrial fibrillation boosts growth of the global ECG sensor patch market.
Increasing product launches and product approval in the region is the major factor expected to propel the market growth. For instance, in 2017, Cardiac Insight launched Cardea Solo ECG sensor designed for diagnosing atrial fibrillation following cardiac ablation after receiving the U.S. Food and Drugs Administration (FDA) 510 (k) clearance.
Moreover, increasing number of research and development activities and clinical trials to demonstrate the benefits of early detection of cardiac diseases is expected to augment the market growth. For instance, in 2018, the Scripps Translational Science Institute (STSI) in California, U.S., through the study mSToPS (mHealth Screening to Prevent Strokes), stated that wearable ECG patch demonstrated threefold improvement in diagnosis rate of atrial fibrillation than in usual care.
Key Players
Major players operating in the global ECG sensor patch market include Medtronic Plc., Hill-Rome Holdings, Inc., iRhythm Technologies, Inc., AliveCor, Inc., Vivalnk, Inc., Cardiac Insight Inc., VitalConnect, LifeSignals, Inc., and Lief Therapeutics
ECG sensor patch is a diagnostic tool used by the clinicians for early detection of atrial fibrillation and to ensure timely treatment for such patients. The wearable patch continuously record the ECG of user, which aids in arrhythmia detection and management at the point of care. It also acts as triggering alarm for the cardiac patient about the stress levels and thus increasing the patient compliance.
Market Dynamics
Increasing product launches by market players is a major factor driving global ECG sensor patch market growth. For instance, in January 2019, Lief Therapeutics launched a newly developed smart patch at the Consumer Electronics Show. The patch allows users to easily detect, manage, and treat stress in real-time using haptic biofeedback technology.
Furthermore, inorganic strategies adopted by key players for enhancing their distribution network and offering best products in the market is expected to drive the market growth. For instance, in November 2018, Cardiac Insight, Inc. collaborated with VivoSense to deliver enhanced analytics to expand use of wearable cardiac sensors in clinical trials and other healthcare applications. Similarly, in November 2018, AliveCor, Inc. and C. ILLIES & CO., a distribution partner for technology innovators in Asia, entered into new distribution agreement to launch AliveCor Mobile ECG in Hong Kong and Macau.
Key features of the study:
- This report provides in-depth analysis of the ECG sensor patch market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2018–2026), considering 2017 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategy adopted by key players
- It profiles key players in the global ECG sensor patch market based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
- Key companies covered as a part of this study include Medtronic Plc., Hill-Rome Holdings, Inc., iRhythm Technologies, Inc., AliveCor, Inc., Vivalnk, Inc., Cardiac Insight Inc., VitalConnect, LifeSignals, Inc., and Lief Therapeutics
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics.
- The global ECG sensor patch Market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global ECG sensor patch market
Detailed Segmentation:
- Global ECG Sensor Patch Market, By Product Type:
- Hardware
- Software
- Global ECG Sensor Patch Market, By Application:
- Monitoring
- Diagnostics
- Global ECG Sensor Patch Market, By End User:
- Healthcare
- Fitness and Sports
- Global ECG Sensor Patch Market, By Region:
- North America
- By Product Type:
- Hardware
- Software
- By Application:
- Monitoring
- Diagnostics
- By End User:
- Healthcare
- Fitness and Sports
- By Country:
- U.S.
- Canada
- Latin America
- By Product Type:
- Hardware
- Software
- By Application:
- Monitoring
- Diagnostics
- By End User:
- Healthcare
- Fitness and Sports
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- By Product Type:
- Hardware
- Software
- By Application:
- Monitoring
- Diagnostics
- By End User:
- Healthcare
- Fitness and Sports
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- By Product Type:
- Hardware
- Software
- By Application:
- Monitoring
- Diagnostics
- By End User:
- Healthcare
- Fitness and Sports
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- By Product Type:
- Hardware
- Software
- By Application:
- Monitoring
- Diagnostics
- By End User:
- Healthcare
- Fitness and Sports
- By Country/Region:
- GCC
- Israel
- Rest of Middle East
- Africa
- By Product Type:
- Hardware
- Software
- By Application:
- Monitoring
- Diagnostics
- By End User:
- Healthcare
- Fitness and Sports
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- Company Profiles
- Medtronic Plc.*
- Company Overview
- Product Portfolio
- Financial Performance
- Key Highlights
- Market Strategies
- Hill-Rome Holdings, Inc.
- iRhythm Technologies, Inc.
- AliveCor, Inc.
- Vivalnk, Inc.
- Cardiac Insight Inc.
- VitalConnect
- LifeSignals, Inc.
- Lief Therapeutics
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Application
- Market Snippet, By End User
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Market Trends
- Regulatory Scenario
- Reimbursement Scenario
- Key Highlights
- PEST Analysis
- Global ECG Sensor Patch Market, By Product Type, 2018 – 2026, (US$ Mn)
- Introduction
- Market Share Analysis, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, 2017 – 2026
- Segment Trends
- Hardware
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- Software
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- Global ECG Sensor Patch Market, By Application, 2018 – 2026, (US$ Mn)
- Introduction
- Market Share Analysis, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, 2017 – 2026
- Segment Trends
- Monitoring
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- Diagnostics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- Global ECG Sensor Patch Market , By End User, 2018 – 2026, (US$ Mn)
- Introduction
- Market Share Analysis, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, 2017 – 2026
- Segment Trends
- Healthcare
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- Fitness and Sports
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- Global ECG Sensor Patch Market , By Region, 2018 – 2026, (US$ Mn)
- Introduction
- Market Share Analysis, By Region, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, For Regions, 2017–2026
- North America
- Market Size and Forecast, By Product Type, 2016 – 2026, (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2026, (US$ Mn)
- Market Size and Forecast, By End User, 2016 – 2026, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2026, (US$ Mn)
- U.S.
- Canada
- Latin America
- Market Size and Forecast, By Product Type, 2016 – 2026, (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2026, (US$ Mn)
- Market Size and Forecast, By End User, 2016 – 2026, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2026, (US$ Mn)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Market Size and Forecast, By Product Type, 2016 – 2026, (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2026, (US$ Mn)
- Market Size and Forecast, By End User, 2016 – 2026, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2026, (US$ Mn)
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Size and Forecast, By Product Type, 2016 – 2026, (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2026, (US$ Mn)
- Market Size and Forecast, By End User, 2016 – 2026, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2026, (US$ Mn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of APAC
- Middle East
- Market Size and Forecast, By Product Type, 2016 – 2026, (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2026, (US$ Mn)
- Market Size and Forecast, By End User, 2016 – 2026, (US$ Mn)
- Market Size and Forecast, By Country/Region, 2016 – 2026, (US$ Mn)
- GCC
- Israel
- Rest of Middle East
- Africa
- Market Size and Forecast, By Product Type, 2016 – 2026, (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2026, (US$ Mn)
- Market Size and Forecast, By End User, 2016 – 2026, (US$ Mn)
- Market Size and Forecast, By Country/Region, 2016 – 2026, (US$ Mn)
- South Africa
- Central Africa
- North Africa
- Competitive Landscape
- Company Profiles
- Medtronic Plc.
- Company Overview
- Product Type Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Hill-Rome Holdings, Inc.
- Company Overview
- Product Type Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- iRhythm Technologies, Inc.
- Company Overview
- Product Type Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- AliveCor, Inc.
- Company Overview
- Product Type Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Vivalnk, Inc.
- Company Overview
- Product Type Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Cardiac Insight Inc.
- Company Overview
- Product Type Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- VitalConnect
- Company Overview
- Product Type Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- LifeSignals, Inc.
- Company Overview
- Product Type Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Lief Therapeutics
- Company Overview
- Product Type Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Section
- References
- Research Methodology
- About us and Sales Contact
*Browse 31 market data tables and 24 figures on "ECG Sensor Patch Market - Global forecast to 2026”.
Research Methodology
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
- Primary Research (Trade Surveys and Experts Interviews)
- Desk Research
- Proprietor Data Analytics Model
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
- National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
- Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
- Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
- Trade association, National and international media and trade press.
- Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
- Scientific journals, and other technical magazines and whitepapers.
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Data Standardization:
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
- Micro-economic indicators
- Macro-economic indicators
- Environmental indicators
- Socio-political indicators
- Technology indicators
Data Processing
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
Data Validation
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
- It provides first-hand information on the market dynamics, outlook, and growth parameters.
- Industry experts validates the estimates which helps the company to cement the on-going research study.
- Primary research includes online surveys, face-to face interviews, and telephonic interviews.
The primary research is conducted with the ecosystem players including, but not limited to:
- Raw Material Suppliers
- Manufacturers
- System Integrators
- Distributors
- End-users
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