ECG Sensor Patch Market to Partake Significant Development By 2026
Posted by rushikesh on July 30th, 2019
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.
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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 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
Global ECG Sensor Patch Market, By Product Type:
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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.
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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.
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