Wearable Patch Market Size Worth $12.3 Billion By 2027


 San Francisco, 11 Dec 2020: The Report Wearable Patch Market Size, Share & Trends Analysis Report By Technology (Regular Wearable, Connected Wearable), By Application (Clinical, Non-clinical), By Region, And Segment Forecasts, 2020 - 2027

The global wearable patch market size is expected to reach USD 12.3 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.2% from 2020 to 2027. Wearable Patch is attached to the skin and can be worn for a couple of hours to weeks. In recent years these patches have become more popular and are most widely used for drug delivery or patient monitoring, and sports. They are also used to deliver medication such as nicotine and to treat various chronic diseases. Various companies are investing in this technology to gain a competitive advantage.

The connected wearable patch segment accounted for the highest market share in 2019. It has wireless connectivity features that help in monitoring the health of patients and delivering drugs accordingly. The factors responsible for the growth of the segment are growing concern among people related to their health and the increasing aging population with chronic diseases. Also, technological developments to boost the connected wearable patch with more data accuracy and features are anticipated to bring new advanced opportunities for the market in the coming future.

Based on the application, the clinical segment shares the highest market during the estimated period. It helps to gather information on a regular basis and then transforms data to connected devices such as laptops and smartphones so that the physicians have access to a real-time, continuous flow of data, which can avert patient worsening.

North America held the highest revenue share of 35.5% in 2019 due to its rising aging population, technological improvement in electronic skin, and increasing investment in R&D. In addition, increasing collaborations between hospitals, academic institutions, and widespread R&D activities at the industrial and academic level and increase in the scope of biomedical applications, have fueled the market growth. Moreover, the presence of major players in the region contributed to market growth.

Access Research Report of Wearable Patch Market @ https://www.grandviewresearch.com/industry-analysis/wearable-patch-market

Wearable Patch Market Report Highlights

  • The connected wearable segment dominated the market in 2019 and accounted for a revenue share of around 76.3% owing to increasing demand for electronic skin in developing countries
  • The clinical segment is anticipated to register the fastest growth rate of 6.4% over the forecast period
  • The clinical segment accounted for the highest revenue share of 50.5% in 2019 and is anticipated to maintain its dominance due to increasing investment in R&D of the medical device
  • North America dominated the market and accounted for a revenue share of 35.5% in 2019. This can be attributed to the rapid increase in the development of smart patches to meet the growing demand for efficient healthcare in the country

List of Key Players of Wearable Patch Market

  • AliveCor, Inc.
  • VivaLNK, Inc.
  • Cardiac Insight Inc.
  • VitalConnect
  • LifeSignals, Inc.
  • L’Oreal Group
  • Dexcom, Inc.
  • GENTAG, Inc.
  • Abbott Laboratories
  • Koninklijke Philips N.V.
  • Sensium Healthcare Ltd
  • Leaf Healthcare, Inc.
  • Qualcomm Technologies, Inc.
  • Medtronic Plc
  • Hill-Rom Holdings, Inc.
  • iRhythm Technologies, Inc.

Access Press Release of Wearable Patch Market @ https://www.grandviewresearch.com/press-release/global-wearable-patch-market

 

Comments

Post a Comment

Popular posts from this blog

U.K. Point Of Sale Software Market To Expand Industry Growth At USD 1.05 Billion By 2028

Image
  San Francisco, 21 Jan 2022:   The Report  U.K. Point Of Sale Software Market  Size, Share & Trends Analysis Report By Application (Fixed POS, Mobile POS), By Deployment, By Organization Size, By End-user, And Segment Forecasts, 2021 - 2028 The global U.K. point of sale software market size is expected to reach USD 1.05 billion by 2028, expanding at a CAGR of 8.1% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. The integration of a Point-Of-Sale (POS) solution with capabilities such as sales reports monitoring, cash flow recording, product demand analysis, tracking delivery status, and inventory management ensure systematic functioning and upscaling of a business. The adoption of POS software is directly impacted by the demand for POS terminals, which is witnessing growth in demand due to changing lifestyles and government policies. However, the COVID-19 pandemic disrupted the industry's business, wherein ...
Read more

Gas Detection Equipment Market Anticipated To Expand At A CAGR 9.7% From 2021 To 2028

  San Francisco, 5 May 2021:   The Report  Gas Detection Equipment Market  Size, Share & Trends Analysis Report By Product, By Technology (Infrared, Catalytic, PID), By End-use, By Region, And Segment Forecasts, 2021 - 2028 The global gas detection equipment market size is expected to reach USD 8.38 billion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 9.7% from 2021 to 2028. The market growth can be attributed to the growing awareness among governments regarding the harmful effects of greenhouse gases, coupled with their increased efforts toward protecting the environment. Major industries such as petroleum, oil, and gas, among others are needed to comply with safety and environmental regulations which are also major factors driving the market growth. Many companies are focused on introducing drone-based gas detection equipment, which is expected to create new opportunities for market growth in...
Read more