Sensor Patch Companies - Abbott Laboratories (US) and Medtronic (Ireland) are the Key Players

The global sensor patch market is projected to grow from USD 6.32 billion in 2025 to USD 23.91 billion by 2030, at a CAGR of 30.5% from 2025 to 2030. One of the key factors boosting demand for sensor patches is the increasing use of these patches to monitor glucose levels in individuals with diabetes. Glucose monitoring solutions are gaining traction due to increasing incidences and prevalence of lifestyle diseases, such as diabetes, respiratory diseases, and cancer, which require regular monitoring. Moreover, the proven efficacy of such testing kits has resulted in their growing adoption by doctors. The rising demand for portable medical devices and wearable sensors is a major factor driving the market.

Abbott Laboratories (US), Medtronic PLC (Ireland), DexCom, Inc. (US), iRhythm Technologies, Inc. (US), Texas Instruments Incorporated (US), Masimo (US), GENTAG, Inc. (US), Koninklijke Philips N.V. (Netherlands), Senseonics, Inc. (US), Boston Scientific Corporation (US) are the major players in the sensor patch market. Market participants have increased their product offerings, expanding their global reach through strategic growth approaches, including product launches, collaborations, and partnerships. For instance, in August 2024, Abbott Laboratories partnered with Medtronic to collaborate on an integrated continuous glucose monitoring (CGM) system based on Abbott's FreeStyle Libre technology that will connect with Medtronic's automated insulin delivery (AID) and smart insulin pen systems.

Major Sensor Patch Companies Include:

• Abbott Laboratories (US)
• Medtronic (Ireland)
• DexCom, Inc. (US)
• iRhythm Technologies, Inc. (US)
• Texas Instruments Incorporated (US)
• Masimo (US)
• GENTAG, Inc. (US)
• Koninklijke Philips N.V. (Netherlands)
• Senseonics, Inc. (US)
• Boston Scientific Corporation (US)

Abbott Laboratories (US)

Abbott Laboratories is a global healthcare leader that helps people at all stages of life. The company’s portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritional, and branded generic medicines. The company operates through four business segments: Medical Devices, Diagnostic Products, Nutritional Products, and Pharmaceutical Products. The company’s revolutionary sensing technology, FreeStyle Libre, is a life-changing innovation that offers a convenient way to get more frequent glucose readings. Libre is a small sensor worn on the arm that continuously measures the amount of glucose in the blood. The company also offers the FreeStyle Libre Pro System. This professional continuous glucose-monitoring device allows doctors to detect trends and track glucose-level patterns, helping them make therapy adjustments for their patients.

Medtronic (Ireland)

Medtronic is among the world’s largest medical technology, services, and solutions companies, alleviating pain, restoring health, and extending life for millions worldwide. The company serves hospitals, physicians, clinicians, and patients in more than 150 countries worldwide. Medtronic plc is the successor to Medtronic, Inc., a Minnesota corporation. Medtronic, Inc. and Covidien plc (Covidien) were combined and became subsidiaries of Medtronic plc in January 2015. The company has four operating and reportable segments that primarily develop, manufacture, distribute, and sell device-based medical therapies and services: The Cardiac and Vascular Group, the Minimally Invasive Therapies Group, the Restorative Therapies Group, and the Diabetes Group.

The Cardiac and Vascular Group comprises the Cardiac Rhythm & Heart Failure, Coronary & Structural Heart, and Aortic, Peripheral & Venous divisions. The Minimally Invasive Therapies Group comprises the Surgical Innovations and Respiratory, Gastrointestinal, & Renal divisions. The Restorative Therapies Group encompasses the Brain, Spine, Specialty, and Pain Therapies divisions. The Diabetes Group develops, manufactures, and markets products and services for managing Type 1 and Type 2 diabetes.

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Company Ranking

The sensor patch market is consolidated, with leading players, such as Abbott Laboratories (US), Medtronic PLC (Ireland), DexCom, Inc. (US), iRhythm Technologies, Inc. (US), and Texas Instruments Incorporated (US), collectively accounting for approximately 83–93% of the market share. The sensor patch market has evolved over the last decade. Major players are adopting organic and inorganic growth strategies, including product launches, acquisitions, contracts, and agreements. These strategies have not only helped the market leaders gain extra revenue but have also helped them sustain their position in the changing market dynamics and cater to the various needs of customers.