Wearable patchResearch Report 2021-2028
Global Wearable patch market is valued at approximately USD 7.7 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.2% over the forecast period 2020-2027. Smart patches or mechanical skin are two terms for wearable patches. These are used for disease control, medication distribution, and diagnosis and are lightweight, compact, and versatile in design. Wearable patches can help elderly patients with chronic diseases including diabetes and others improve their health and well-being. The demand for wearable technology is currently expanding, owing to increased research and development efforts for the development of wearable patches by key market players. Patches such as scopolamine patches and transdermal patches are closely applied to the infected body part for disease monitoring and may be worn or glued to the scalp. For instance, in nicotine replacement treatment, a nicotine route is a transdermal patch that delivers nicotine into the bloodstream (NRT). Moreover, the rising prevalence of chronic diseases such as diabetes and atrial fibrillation is leading to an increase in the number of strokes, which is expected to propel the wearable patch market further over the projected period.
According to a study released by the
International Diabetes Federation in November 2019, about 463 million people between the ages of 20 and 79 were diagnosed with diabetes worldwide in 2018, with the overall diabetes population estimated to exceed 700 million by 2045. Similarly, according to the American Heart Association, stroke is the primary cause of death in the United States, with about 2.7 million people diagnosed with atrial fibrillation and about 800,000 people experiencing stroke each year due to a blockage of a blood vessel that delivers oxygen to the brain. As a result, the demand for wearable patches is expected to increase as the rate of atrial fibrillation rises. However, high cost of sensor monitoring patch, may impede market growth over the forecast period of 2020-2027.
The regional analysis of the global Wearable patch market is considered for the key regions such as North America, Asia Pacific, Latin America, Europe, and Rest of the World. North America is the leading region across the world in terms of market share due to increasing prevalence of chronic diseases and increase in demand for wearable patches for early diagnosis in the region. Whereas Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2020-2027, due to growing need for the implementation and integration of medical devices and healthcare IT solutions across APAC.
Major market player included in this report are:
Abbott Laboratories
iRhythm Technologies Inc.
Johnson & Johnson Services, Inc
Koninklijke Philips N.V.
L’Oreal Group
LifeSignals, Inc.
Medtronic Plc
Qualcomm Technologies, Inc.
VitalConnect, Inc.
VivaLNK
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Electronic
Manual
By end user:
Residential
Commercial
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027.
Target Audience of the Global Wearable patch market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Table of Contents
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Wearable Patch Market , by Region, 2018-2027 (USD Billion)
1.2.2. Wearable Patch Market , by Technology , 2018-2027 (USD Billion)
1.2.3. Wearable Patch Market , by Application, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Wearable Patch Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Wearable Patch Market Dynamics
3.1. Wearable Patch Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Increasing prevalence of chronic diseases
3.1.3. Rising awareness among consumers regarding wearable patch
3.1.4. Market Challenges
3.1.5. High cost of sensor patch
3.1.6. Market Opportunities
3.1.7. Increasing technological advancements in wearable patch
Chapter 4. Global Wearable Patch Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Wearable Patch Market , by Technology
5.1. Market Snapshot
5.2. Global Wearable Patch Market by Technology , Performance - Potential Analysis
5.3. Global Wearable Patch Market Estimates & Forecasts by Technology 2017-2027 (USD Billion)
5.4. Wearable Patch Market , Sub Segment Analysis
5.4.1. Regular
5.4.2. Connected
Chapter 6. Global Wearable Patch Market , by application
6.1. Market Snapshot
6.2. Global Wearable Patch Market by application, Performance - Potential Analysis
6.3. Global Wearable Patch Market Estimates & Forecasts by application 2017-2027 (USD Billion)
6.4. Wearable Patch Market , Sub Segment Analysis
6.4.1. Clinical
6.4.2. Non Clinical
Chapter 7. Global Wearable Patch Market , Regional Analysis
7.1. Wearable Patch Market , Regional Market Snapshot
7.2. North America Wearable Patch Market
7.2.1. U.S. Wearable Patch Market
7.2.1.1. Technology breakdown estimates & forecasts, 2017-2027
7.2.1.2. Application breakdown estimates & forecasts, 2017-2027
7.2.2. Canada Wearable Patch Market
7.3. Europe Wearable Patch Market Snapshot
7.3.1. U.K. Wearable Patch Market
7.3.2. Germany Wearable Patch Market
7.3.3. France Wearable Patch Market
7.3.4. Spain Wearable Patch Market
7.3.5. Italy Wearable Patch Market
7.3.6. Rest of Europe Wearable Patch Market
7.4. Asia-Pacific Wearable Patch Market Snapshot
7.4.1. China Wearable Patch Market
7.4.2. India Wearable Patch Market
7.4.3. Japan Wearable Patch Market
7.4.4. Australia Wearable Patch Market
7.4.5. South Korea Wearable Patch Market
7.4.6. Rest of Asia Pacific Wearable Patch Market
7.5. Latin America Wearable Patch Market Snapshot
7.5.1. Brazil Wearable Patch Market
7.5.2. Mexico Wearable Patch Market
7.6. Rest of The World Wearable Patch Market
Chapter 8. Competitive Intelligence
8.1. Top Market Strategies
8.2. Company Profiles
8.2.1. Abbott Laboratories
8.2.1.1. Key Information
8.2.1.2. Overview
8.2.1.3. Financial (Subject to Data Availability)
8.2.1.4. Technology Summary
8.2.1.5. Recent Developments
8.2.2. iRhythm Technologies Inc.
8.2.3. Johnson & Johnson Services, Inc
8.2.4. Koninklijke Philips N.V.
8.2.5. L’Oreal Group
8.2.6. LifeSignals, Inc.
8.2.7. Medtronic Plc
8.2.8. Qualcomm Technologies, Inc.
8.2.9. VitalConnect, Inc.
8.2.10. VivaLNK
….CONTINUED
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According to IMARC Group’s latest report, titled “Wearable patch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global wearable patch market witnessed strong growth during 2015-2020.
Looking forward, IMARC Group expects the market to grow at a CAGR of around 15% during 2021-2026.As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic.
These observations will be integrated into the report.Request for a free sample copy of this report: https://www.imarcgroup.com/wearable-patch-market/requestsampleWearable patches, also known as electronic skin and smart patches, are used for drug delivery, disease monitoring, and diagnosis.
They can be worn or stuck to the skin directly on the affected body part to collect data at regular intervals and transmit information to health information systems (HIS) or even smartphones.
Wearable patches can monitor oxygen levels, blood pressure, heart rate, glucose level, and body temperature.
Market players have introduced product variants with advanced features enabling continuous monitoring of patients, coupled with precise data, minimal interference with body movements, and more effortless connectivity with smartphones.
The new research report titled "Connected Wearable Patch Market, Global Industry Analysis, and Forecast to 2027" gives a detailed analysis and future forecasts of the market.
The report highlights the significant players, including market size, share, and demand, development.
This report further covers the latest trends, technological advancements, and growth opportunities.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the connected wearable patch market include VitalConnect, Biobeat, LifeSignals, iRhythm Technologies, Inc., Caretaker, LLC, Dexcom, Inc., Blue Spark Technologies, Other Prominent Players.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Connected Wearable Patch Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/connected-wearable-patch-market/download-sampleMarket DynamicsStress, sedentary lifestyle, and unhealthy diet are the responsible factors increasing the prevalence of chronic diseases such as diabetes, heart problems across the globe.
Increasing the prevalence of chronic diseases is driving the global connected wearable patches market.
