DUBLIN--(BUSINESS WIRE)--The "Wearable Patch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global wearable patch market size reached US$ 10.4 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 17.9 Billion by 2027, exhibiting a CAGR of 9.47% during 2021-2027.
- Abbott Laboratories
- Delta Electronics Inc.
- Gentag Inc.
- Insulet Corp.
- iRhythm Technologies Inc.
- Kenzen Inc.
- MTG UK Co. Ltd.
- Nemaura Medical Inc.
- UpRight Technologies Ltd.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Wearable patch refers to smart medical bandages worn on the body for disease monitoring, drug delivery, diagnosis and wellbeing of a patient. The patches consist of various electronic components, such as sensors, actuators and energy storage and communication systems. They collect data at regular intervals and transmit it to the connected smartphones or health information systems (HIS).
Some of the commonly used wearable patches include sweat analyzing patches, pain-relieving patches, nicotine and alcohol detection patches and sensor patches for monitoring temperature, heart rate, blood glucose, blood pressure and oxygen levels. They are compact and flexible in nature and facilitate continuous or semi-continuous monitoring of physiological parameters and various complex electrocardiogram measurements without tethering the patient to the wired hub.
Increasing prevalence of lifestyle diseases and chronic medical ailments, such as diabetes, cardiovascular diseases (CVDs) and hyperglycemia, represents one of the key factors driving the growth of the market. Furthermore, rising health consciousness among the masses is also strengthening the market growth. Wearable patches aid in the early diagnosis of ailments and are also used for tracking sports activities through fitness bands, smartwatches and HIS.
Various technological advancements, such as the development of personalized skin patches that monitor the individual's exposure to ultraviolet (UV) rays, pollution, pollen and humidity, are acting as other growth-inducing factors. Product manufacturers are also developing innovative wearable cosmetic patches that can be used for melanoma therapies, including chemotherapy and radiotherapy. Other factors, including rising geriatric population and increasing healthcare expenditures and significant improvements in the healthcare infrastructure, especially in developing countries, are anticipated to drive the market further.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global wearable patch market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on technology and end use.
Breakup by Technology:
Breakup by End Use:
- Fitness and Sports
Breakup by Region:
- North America
- United States
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Key Questions Answered in This Report:
- How has the global wearable patch market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global wearable patch market?
- What are the key regional markets?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the end use?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global wearable patch market and who are the key players?
- What is the degree of competition in the industry?
For more information about this report visit https://www.researchandmarkets.com/r/qhrk9i