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The Worldwide Wearable Patch Industry is Expected to Reach $17.9 Billion by 2027
Global Wearable Patch Market
Dublin, Nov. 15, 2022 (GLOBE NEWSWIRE) -- The "Wearable Patch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global wearable patch market size reached US$ 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.
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.
Global Wearable Patch Market Trends and Drivers:
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 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?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Wearable Patch Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Technology
6.1 Connected
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Regular
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by End Use
7.1 Healthcare
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Fitness and Sports
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Region
9 SWOT Analysis
10 Value Chain Analysis
11 Porters Five Forces Analysis
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
13.3.1 Abbott Laboratories
13.3.1.1 Company Overview
13.3.1.2 Product Portfolio
13.3.1.3 Financials
13.3.1.4 SWOT Analysis
13.3.2 Delta Electronics Inc.
13.3.2.1 Company Overview
13.3.2.2 Product Portfolio
13.3.2.3 Financials
13.3.2.4 SWOT Analysis
13.3.3 Gentag Inc.
13.3.3.1 Company Overview
13.3.3.2 Product Portfolio
13.3.4 Insulet Corp.
13.3.4.1 Company Overview
13.3.4.2 Product Portfolio
13.3.5 iRhythm Technologies Inc.
13.3.5.1 Company Overview
13.3.5.2 Product Portfolio
13.3.5.3 Financials
13.3.5.4 SWOT Analysis
13.3.6 Kenzen Inc.
13.3.6.1 Company Overview
13.3.6.2 Product Portfolio
13.3.7 MTG UK Co. Ltd.
13.3.7.1 Company Overview
13.3.7.2 Product Portfolio
13.3.7.3 Financials
13.3.8 Nemaura Medical Inc.
13.3.8.1 Company Overview
13.3.8.2 Product Portfolio
13.3.9 UpRight Technologies Ltd.
13.3.9.1 Company Overview
13.3.9.2 Product Portfolio
For more information about this report visit https://www.researchandmarkets.com/r/s33y5p
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