Global ECG Sensor Patch Market to Surpass US$ 299.3 Million by 2026

SEATTLE–(BUSINESS WIRE)–#ECGSensorPatch–According to Coherent Market Insights, the global ECG sensor patch market was valued at US$ 11.7 million in 2017, and is projected to exhibit a CAGR of 43.7% over the forecast period (2018–2026).

Key Trends and Analysis of the Global ECG Sensor Patch Market:

Key trends in market are rising prevalence of atrial fibrillation, technological advancement in ECG sensor patch and new product launches by the key players.

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Increasing prevalence of atrial fibrillation is expected to augment the market growth. According to Centers for Disease Control and Prevention (CDC), in 2015, an estimated 2.7 to 6.1 million people in the U.S. suffered from atrial fibrillation. Moreover, the number is expected to increase, owing to increasing geriatric population in the U.S. Around 2% of people under age of 65 years have atrial fibrillation, while around 9% of people aged 65 years or above have atrial fibrillation according to the same source.

Increasing clinical trial activities and positive results of clinical trials prove that early diagnosis of asymptomatic atrial fibrillation is possible with ECG monitoring patch, which is expected to contribute to growth of global ECG sensor patch market over the forecast period. For instance, in May 2018, Janssen Pharmaceutical, a subsidiary of Johnson & Johnson, announced results of home-based clinical trial at the 67th Annual Scientific Session at American College of Cardiology. The results demonstrated that a wearable continuous electrocardiogram (ECG) monitoring patch can identify people with asymptomatic atrial fibrillation (AFib) earlier and more efficiently than routine care.

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Furthermore, key players operating in the market are focused on adopting acquisition and collaboration strategies, in order to expand their product offerings in potential markets. For instance, in January 2016, AliveCor, Inc. collaborated with LifeWatch AG, a developer of medical solutions and remote diagnostic monitoring services for integration of AliveCor Mobile ECG with LifeWatch’s remote cardiac monitoring service.

However, as technology is growing the patches are becoming expensive, which is the major factor hindering the market growth. For instance, the average cost of Medtronic’s SEEQ is around US$ 718, which causes cost burden for patients in emerging countries.

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Key Market Takeaways:

• The global ECG sensor patch market is expected to exhibit a CAGR of 43.7% during the forecast period (2018–2026), owing to rising prevalence of atrial fibrillation, technological advancement in ECG sensor patch and new product launches by key players and easy detection of atrial fibrillation due to wearable ECG monitoring patch. According to Centers for Disease Control and Prevention (CDC), 2017, over 750,000 hospitalizations and 130,000 deaths occur annually in the U.S. due to atrial fibrillation.
• Key players in the market are focused on adopting merger and acquisition strategies to enhance their product portfolio, which in turn is expected to propel the market growth over the forecast period. For instance in September 2017, Medtronic Plc. and Garmin International Inc., a unit of Garmin Ltd., announced the integration of Garmin wearable device data into Medtronic Care Management Services’ (MCMS) remote patient monitoring platform.
• Key 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

Report 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 Country:
      • U.S.
      • Canada
  • Latin America
    • By Country:
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Europe
    • By Country:
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By Country:
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
  • Middle East
    • By Country/Region:
      • GCC
      • Israel
      • Rest of Middle East
  • Africa
    • By Country/Region:
      • South Africa
      • Central Africa
      • North Africa
• Company Profiles

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/ecg-sensor-patch-market-2832

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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