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Worldwide Wearable Patch Industry to 2027 - Opportunity Analysis and Industry Forecasts

·7-min read

Dublin, May 21, 2021 (GLOBE NEWSWIRE) -- The "Wearable Patch Market by Product and End Use: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.

The global wearable patch market was valued at $12,239.7 million in 2019, and is projected to reach $27,820.5 million by 2027, registering a CAGR of 9.6% from 2020 to 2027.

Wearable patch, also known as smart patch or electronic skin, is used for disease monitoring, drug delivery, and diagnosis applications. Wearable patches help to maintain health and wellbeing in elderly patients suffering from chronic conditions such as diabetes and cardiovascular diseases.

Growth of the global wearable patch market is majorly driven by rise in technological advancements in wearable patches, increase in prevalence of chronic diseases, and growth in awareness among consumers regarding wearable patches. For instance, according to the International Diabetes Federation (IDF), worldwide prevalence of diabetes in 2019 was around 463 million individuals, and is anticipated to reach to 700 million by 2045. Hence, increase in incidences of diabetes is expected to propel demand for wearable patches, which, in turn, propels the market growth. In addition, the connected wearable patches are gaining traction across the world owing to rise in adoption of connectivity technologies, namely, microprocessor controller, Bluetooth, and myoelectric technology.

Moreover, high cost of sensor patches along with concerns regarding data privacy and security are anticipated to restrain the market growth during the forecast period. High cost of sensor monitoring patches in emerging economies such as India, China, and Brazil is expected to impede the market growth during the forecast period. For instance, average selling price of ECG sensor patch in these countries is between $ 300 and $ 4,500.

Depending on product, the market is segmented into temperature patch, blood glucose patch, blood pressure patch, heart rate patch & ECG patch, skin care patch, and others. The blood glucose patch segment is expected to dominate the market as several patients with diabetes are advised to monitor blood glucose on a regular basis to prevent development of hyperglycemia and hypoglycemia.

Competitive rivalry in the global wearable patch market was observed at high level as major players have focused on the adoption of growth strategies such as product launches, mergers and acquisitions (M&As), and partnerships & collaborations to attain strong position in the competitive market. Key players operating in the global wearable patch market include Abbott Laboratories, iRhythm Technologies, Inc., Johnson & Johnson Services, Inc., Koninklijke Philips N.V., L'Oreal Group, LifeSignals, Inc., Medtronic Plc (Zephyr Technology Corporation), Qualcomm Technologies, Inc., VitalConnect, Inc., and VivaLNK.

Key Benefits

  • The study provides an in-depth analysis of the global wearable patch market size along with the current trends and future estimations to elucidate the imminent investment pockets

  • It offers market analysis from 2020 to 2027, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market

  • A comprehensive analysis on the region assists to understand the regional market and facilitate strategic business planning and determine prevailing opportunities

  • The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global wearable patch market growth

Key Topics Covered:

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO perspective

CHAPTER 3: MARKET LANDSCAPE
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. Porter's five forces analysis
3.4. Top player positioning, 2019
3.5. Market dynamics
3.5.1. Drivers
3.5.1.1. Increasing technological advancements in wearable patch
3.5.1.2. Growing awareness among consumers regarding wearable patch
3.5.1.3. Rising prevalence of chronic diseases
3.5.1.4. Increased demand for the connected wearable patches
3.5.2. Restraints
3.5.2.1. High cost of sensor patch
3.5.2.2. Concerns regarding data privacy and security
3.5.3. Opportunity
3.5.3.1. Increase in adoption of telehealth
3.5.4. Impact analysis
3.6. Impact analysis of the COVID-19 on wearable patch market

CHAPTER 4: WEARABLE PATCH MARKET, BY PRODUCT
4.1. Overview
4.1.1. Market size and forecast
4.2. Temperature patch
4.2.1. Market size and forecast, by region
4.2.2. Market analysis, by country
4.3. Blood glucose patch
4.3.1. Market size and forecast, by region
4.3.2. Market analysis, by country
4.4. Blood pressure patch
4.4.1. Market size and forecast, by region
4.4.2. Market analysis, by country
4.5. Heart rate patch & ECG patch
4.5.1. Market size and forecast, by region
4.5.2. Market analysis, by country
4.6. Skin care patch
4.6.1. Market size and forecast, by region
4.6.2. Market analysis, by country
4.7. Others
4.7.1. Market size and forecast, by region
4.7.2. Market analysis, by country

CHAPTER 5: WEARABLE PATCH MARKET, BY END USE
5.1. Overview
5.1.1. Market size and forecast
5.2. Healthcare
5.2.1. Market size and forecast, by region
5.2.2. Market analysis, by country
5.3. Fitness and sports
5.3.1. Market size and forecast, by region
5.3.2. Market analysis, by country

CHAPTER 6: WEARABLE PATCH MARKET, BY REGION

CHAPTER 7: COMPANY PROFILES
7.1. Abbott Laboratories
7.1.1. Company overview
7.1.2. Company snapshot
7.1.3. Operating business segments
7.1.4. Product portfolio
7.1.5. Business performance
7.1.6. Key strategic moves and developments
7.2. iRhythm Technologies, Inc.
7.2.1. Company overview
7.2.2. Company snapshot
7.2.3. Operating business segments
7.2.4. Product portfolio
7.2.5. Business performance
7.2.6. Key strategic moves and developments
7.3. Johnson & Johnson Services, Inc.
7.3.1. Company overview
7.3.2. Company snapshot
7.3.3. Operating business segments
7.3.4. Product portfolio
7.3.5. Business performance
7.3.6. Key strategic moves and developments
7.4. Koninklijke Philips N. V.
7.4.1. Company overview
7.4.2. Company snapshot
7.4.3. Operating business segments
7.4.4. Product portfolio
7.4.5. Business performance
7.4.6. Key strategic moves and developments
7.5. L'Oreal Group
7.5.1. Company overview
7.5.2. Company snapshot
7.5.3. Operating business segments
7.5.4. Product portfolio
7.5.5. Business performance
7.5.6. Key strategic moves and developments
7.6. LifeSignals, Inc.
7.6.1. Company overview
7.6.2. Company snapshot
7.6.3. Operating business segments
7.6.4. Product portfolio
7.6.5. Key strategic moves and developments
7.7. Medtronic plc (Zephyr Technology Corporation)
7.7.1. Company overview
7.7.2. Company snapshot
7.7.3. Operating business segments
7.7.4. Product portfolio
7.7.5. Business performance
7.8. Qualcomm Technologies, Inc.
7.8.1. Company overview
7.8.2. Company snapshot
7.8.3. Operating business segments
7.8.4. Product portfolio
7.8.5. Business performance
7.9. VitalConnect , Inc.
7.9.1. Company overview
7.9.2. Company snapshot
7.9.3. Operating business segments
7.9.4. Product portfolio
7.9.5. Key strategic moves and developments
7.10. VivaLNK
7.10.1. Company overview
7.10.2. Company snapshot
7.10.3. Operating business segments
7.10.4. Product portfolio
7.10.5. Key strategic moves and developments

For more information about this report visit https://www.researchandmarkets.com/r/tcevs5

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