Sensor Patch Market Size, Share, Growth Analysis, By Type(Temperature Sensor Patch, Blood Glucose Sensor Patch, Blood Pressure/Flow Sensor Patch, Heart Rate Sensor Patch), By Technology(Amperometric, Conductometric, and Potentiometric), By Wearable Type(Wristwear, Footwear, Neckwear, and Bodywear), By Application(Monitoring, Diagnostics, and Medical Therapeutics), By End Use Industry(Healthcare, and Fitness and Sports), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45H2058 | Region: Global | Published Date: October, 2024
Pages: 197 |Tables: 95 |Figures: 76

Sensor Patch Market Insights

Global Sensor Patch Market size was valued at USD 2.37 billion in 2022 and is poised to grow from USD 3.33 billion in 2023 to USD 50.54 billion by 2031, growing at a CAGR of 40.5% in the forecast period (2024-2031).

The global Sensor Patch sector is witnessing shifts in consumers’ tastes and predilections and the technology progress is taking the wearable tech forward. Subsequently, the growing trend towards round-the-clock healthcare monitoring is fueling this growth. Sensor patches are small devices which contain sensors and are very popular nowadays in healthcare, fitness, and consumer electronics. Some of these key factors include increasing incidence of chronic illnesses, increased attention towards prevention of health complications, and ease with which such non-invasive devices can be implemented. Sensor patches are most useful for the healthcare sector in the areas of remote patient monitoring, and drug delivery among others. There are continuous modifications involving incorporation of more sophisticated sensors and wireless communication systems into sensor patches that will improve efficiency in healthcare services. The Sensor Patch market will continue to grow as more people adopt wearables because it will not be limited to health care monitoring only but also other areas such as sports and fitness, environmental sensing, and industrial sensing. It should be noted that this space is dominated by both entrant and established players with a focus on meeting the emerging consumer and industrial need for instant and precise data tracking. The most recent and specialized market information can be found in the current industry reviews and analyses of the markets.

Market snapshot - 2024-2031

Global Market Size

USD 1.54 billion

Largest Segment

Electrochemical Sensors

Fastest Growth

Piezoelectric Sensors

Growth Rate

43.2% CAGR

Global Sensor Patch Market ($ Bn)
Country Share for North America Region (%)

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Sensor Patch Market Segmental Analysis

Global Sensor Patch Market is segmented on the type, technology, wearable type, application, end user industry and region. By type, market is segmented into temperature sensor patch, blood glucose sensor patch, blood pressure/flow sensor patch, heart rate sensor patch, ECG sensor patch, blood oxygen sensor patch, and others. By technology, market is segmented into amperometric, conductometric, and potentiometric. By wearable type, market is segmented into wristwear, footwear, neckwear, and bodywear. By application, market is segmented into monitoring, diagnostics, and medical therapeutics. By end use industry, market is segmented into healthcare, and fitness and sports. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analysis by Technology

These qualities, i.e., accuracy or low cost, may determine the dominance of one type of technology over others in the Sensor Patch market. Traditionally, electrochemical sensors and optical sensors have been the most popular. Healthcare applications such as blood glucose monitoring require electrochemical sensors because they are commonly used to monitor biomarkers. Conversely, optical sensors are known for their non-invasive aspect and can be used e.g., pulse oximetry. In most cases, technology type dominance always fits the current necessities of the major end user groups, especially health and fitness monitoring.

Emerging trends and advancements might influence the fastest-growing technology type. Recent trends indicate that there is a good prospect for the new generation of piezoelectric sensors and biochemical sensors. The use of piezoelectric sensors that measure either mechanical stress or vibration is being investigated in sports monitoring as well as biomechanics. Many biochemical sensors have been developed with the ability for finding particular biological markers to perform a wide range of health monitoring applications. # Most importantly, as they spread wider into the marketplace, these technologies continue to be enhanced by growing areas of application leading to more comprehensive and real-time health data.

Analysis by Application

The sensor patch market will most probably be dominated by healthcare monitoring. This trend is being fueled by the increase in chronic diseases that have resulted in an increased focus on remote patient monitoring. Healthcare applications use sensor patches to track vital signs, medications taken, and other important health factors continuously. This segment has been leading due to higher demands for noninvasive and easy-to-operate monitoring solutions within healthcare settings.

Possibly, one of the most rapidly expanding application areas is fitness and sports monitoring. Wearable technologies such as sensor patches are increasingly used for fitness and sports. Such patches also allow athletes and their enthusiasts to monitor the body parameters e.g., heart rate, their bodily temperatures, the level of physical exercise etcetera in real time. This also explains the rise in fitness and sports sector concerning the use of sensor patches that coincides with expanding individual health consciousness alongside improvements in sensor technology.

Global Sensor Patch Market By Technology

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Sensor Patch Market Regional Insights

Sensor Patch is likely to be dominated by North America. There is an established healthcare system, increased adoption of advanced technologies and great attention devoted for the implementation of telemedicine solutions. With increased interest in wearable health technologies and the region’s investment in healthcare R&D, it is one of the most significant markets for sensor patches.

Sensor patches are projected to represent the area with the quickest expansion in Asia Pacific. The reasons for this growth are an expanded population, growing healthcare costs, and heightened emphasis on health and fitness. A growing number of people are in the middle class, with its technologization in countries such as China, Japan, and India, providing a suitable environment for the distribution of sensor patches and other wearable health technology. Governments across the Pacific region are also pumping huge investments into health care infrastructure hence aiding in the booming of the sector.

Global Sensor Patch Market By Region
  • Largest
  • Fastest

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Sensor Patch Market Dynamics

Drivers

Increasing Prevalence of Chronic Disease

  • The growing prevalence of chronic diseases, as well as the focus on personalised medicine. The sensor patches provide instantaneous non-invasive monitoring of vitals for effective remote patient monitoring and management of chronic diseases. It has also seen growing use of wearable technologies for fitness and sport monitoring. Sensor patches are giving people what they want- health insights about their physical performance, body responses, and activities during exercises.

Restraints

High Concerns Regarding Data Security

  • One of the main market restraints is the issues concerning data privacy and security constitute one of main market limits. These patches collect very important information about people’s health hence strong cyber security in these places must exist. Furthermore, expensive advanced sensor technologies as well as manufacturing of complex patches may be some of the factors that hinder market growth. Accessibility is also hindered by restricted reimbursement policies governing wearable health care technologies, especially in developing countries.

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Sensor Patch Market Competitive Landscape

The current dynamics within the Sensor Patch industry are quite complex as it witnesses several competitors who are battling to gain significant influence over the emerging segment of wearable healthcare solutions. To compete in this industry, the leading players concentrate on new technologies, strategic alliances, and mergers and acquisitions. However, at the same time the market displays active entry of new innovative start-ups and niche players which offer various customized sensor patches. There is a lot of competition that ensures ongoing improvements especially in relation to sensor technology, connectivity, and data management features.

Top Player’s Company Profiles

  • Robert Bosch (Germany) 
  • Hella GmbH & Co. KGaA (Germany) 
  • Continental AG (Germany) 
  • Johnson Electric (Hong Kong) 
  • Denso Corporation (Japan) 
  • Mitsubishi Electric Corporation (Japan) 
  • Nidec Corporation (Japan) 
  • BorgWarner (US) 
  • Hitachi Automotive Systems Ltd. (Japan) 
  • Stoneridge Inc. (US) 
  • Mahle GmbH (Germany) 
  • EFI Automotive (France) 
  • ZF Friedrichshafen AG (Germany) 
  • Magneti Marelli (Italy) 
  • Valeo SE (France) 
  • Nook Industries Inc. (US) 
  • Actus Manufacturing Inc. (US) 
  • Thermotion (US) 
  • CTS Corporation (US) 
  • APC International, Ltd. (US) 
  • Hoerbiger Holding AG (Switzerland) 
  • Cebi International SA Group (Luxembourg) 
  • Tolomatic, Inc. (US) 
  • Actuonix Motion Devices (Canada)

Recent Developments

  • May 2023: Medtronic p.C(opens new window) (NYSE:MDT), a worldwide leader in the healthcare era, announced it has entered into a fixed of definitive agreements to acquire EOFlow Co. Ltd. (KOSDAQ: 294090), producer of the EOPatch® device — a tubeless, wearable and completely disposable insulin shipping tool. The addition of EOFlow, together with Medtronic's Meal Detection Technology™ algorithm and next-era continuous glucose monitor (CGM), is anticipated to make bigger the organization's potential to cope with the needs of greater people with diabetes, no matter wherein they may be in their treatment adventure or preference for the way they need their insulin brought.
  • May 2023: Tandem is gearing up to release a streamlined insulin pump, featuring integrations with Dexcom and Abbott Continuous Glucose Monitoring (CGM) systems.

Sensor Patch Key Market Trends

  • Rising Integration of AI and ML Algorithms with Sensor Patches: The increasing integration of artificial intelligence (AI) and machine learning algorithms with sensor patches for continuous monitoring. The combination makes the interpretation of collected data better so that one gets the right as well as individualized health observations. Furthermore, newer sensor patches are being built more flexible and stretchable with a view towards ensuring comfort. There is also a new trend that sees wearable devices expanding their applications outside conventional healthcare. Today, sensor patches help in areas such as sports performance monitoring, mental health tracking; and even environmental sensing. Global events have promoted acceleration of sensor patches with the rise of telehealth and remote patient monitoring.

Sensor Patch Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to the global sensor patch industry analysis, one can observe that the market is quite an active one with some notable trends as well as challenges. Propelled by growing demands of non-invasive health monitoring, especially in chronic disease management. These concerns, however, are about data security and high startup costs. The adoption of wearable fitness technology promotes product innovation.

This is largely due to the availability of solid health care systems in North America. On the other hand, Asia Pacific offers a high potential for growth. These key trends involve the use of AI, developing flexible sensor patches, and expanding beyond healthcare. If properly addressed security, cost and the technology trends, then the world can embrace them in order for a bright market of the future.

Report Metric Details
Market size value in 2022 USD 2.37 billion
Market size value in 2031 USD 50.54 billion
Growth Rate 40.5%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Temperature Sensor Patch, Blood Glucose Sensor Patch, Blood Pressure/Flow Sensor Patch, Heart Rate Sensor Patch, ECG Sensor Patch, Blood Oxygen Sensor Patch, and Others
  • Technology
    • Amperometric, Conductometric, and Potentiometric
  • Wearable Type
    • Wristwear, Footwear, Neckwear, and Bodywear
  • Application
    • Monitoring, Diagnostics, and Medical Therapeutics
  • End Use Industry
    • Healthcare, and Fitness and Sports
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Robert Bosch (Germany) 
  • Hella GmbH & Co. KGaA (Germany) 
  • Continental AG (Germany) 
  • Johnson Electric (Hong Kong) 
  • Denso Corporation (Japan) 
  • Mitsubishi Electric Corporation (Japan) 
  • Nidec Corporation (Japan) 
  • BorgWarner (US) 
  • Hitachi Automotive Systems Ltd. (Japan) 
  • Stoneridge Inc. (US) 
  • Mahle GmbH (Germany) 
  • EFI Automotive (France) 
  • ZF Friedrichshafen AG (Germany) 
  • Magneti Marelli (Italy) 
  • Valeo SE (France) 
  • Nook Industries Inc. (US) 
  • Actus Manufacturing Inc. (US) 
  • Thermotion (US) 
  • CTS Corporation (US) 
  • APC International, Ltd. (US) 
  • Hoerbiger Holding AG (Switzerland) 
  • Cebi International SA Group (Luxembourg) 
  • Tolomatic, Inc. (US) 
  • Actuonix Motion Devices (Canada)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Sensor Patch Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Sensor Patch Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Sensor Patch Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Sensor Patch Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Sensor Patch Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Sensor Patch Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Sensor Patch Market size was valued at USD 2.37 billion in 2022 and is poised to grow from USD 3.33 billion in 2023 to USD 50.54 billion by 2031, growing at a CAGR of 40.5% in the forecast period (2024-2031).

The current dynamics within the Sensor Patch industry are quite complex as it witnesses several competitors who are battling to gain significant influence over the emerging segment of wearable healthcare solutions. To compete in this industry, the leading players concentrate on new technologies, strategic alliances, and mergers and acquisitions. However, at the same time the market displays active entry of new innovative start-ups and niche players which offer various customized sensor patches. There is a lot of competition that ensures ongoing improvements especially in relation to sensor technology, connectivity, and data management features. 'Robert Bosch (Germany) ', 'Hella GmbH & Co. KGaA (Germany) ', 'Continental AG (Germany) ', 'Johnson Electric (Hong Kong) ', 'Denso Corporation (Japan) ', 'Mitsubishi Electric Corporation (Japan) ', 'Nidec Corporation (Japan) ', 'BorgWarner (US) ', 'Hitachi Automotive Systems Ltd. (Japan) ', 'Stoneridge Inc. (US) ', 'Mahle GmbH (Germany) ', 'EFI Automotive (France) ', 'ZF Friedrichshafen AG (Germany) ', 'Magneti Marelli (Italy) ', 'Valeo SE (France) ', 'Nook Industries Inc. (US) ', 'Actus Manufacturing Inc. (US) ', 'Thermotion (US) ', 'CTS Corporation (US) ', 'APC International, Ltd. (US) ', 'Hoerbiger Holding AG (Switzerland) ', 'Cebi International SA Group (Luxembourg) ', 'Tolomatic, Inc. (US) ', 'Actuonix Motion Devices (Canada)'

The growing prevalence of chronic diseases, as well as the focus on personalised medicine. The sensor patches provide instantaneous non-invasive monitoring of vitals for effective remote patient monitoring and management of chronic diseases. It has also seen growing use of wearable technologies for fitness and sport monitoring. Sensor patches are giving people what they want- health insights about their physical performance, body responses, and activities during exercises.

Rising Integration of AI and ML Algorithms with Sensor Patches: The increasing integration of artificial intelligence (AI) and machine learning algorithms with sensor patches for continuous monitoring. The combination makes the interpretation of collected data better so that one gets the right as well as individualized health observations. Furthermore, newer sensor patches are being built more flexible and stretchable with a view towards ensuring comfort. There is also a new trend that sees wearable devices expanding their applications outside conventional healthcare. Today, sensor patches help in areas such as sports performance monitoring, mental health tracking; and even environmental sensing. Global events have promoted acceleration of sensor patches with the rise of telehealth and remote patient monitoring.

Sensor Patch is likely to be dominated by North America. There is an established healthcare system, increased adoption of advanced technologies and great attention devoted for the implementation of telemedicine solutions. With increased interest in wearable health technologies and the region’s investment in healthcare R&D, it is one of the most significant markets for sensor patches.

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