Wearable Patch Market Size, Share, Demand, Key Players, Industry Trends and Growth 2021-26

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.

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Wearable patches, also known as electronic skin and smart patches, are used for drug delivery, disease monitoring, and diagnosis. They are small, thin, and flexible and are helpful in maintaining health and wellbeing in patients suffering from prolonged conditions, such as diabetes and cancer. 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. Some of the commonly used wearable patches include sweat analyzing patches and pain-relieving patches.

Market Trends and Drivers:

The increasing prevalence of chronic diseases, such as hyperglycemia, diabetes, and cardiovascular diseases (CVDs), represents one of the major factors driving the wearable patch market growth. In addition to this, significant technological innovations are contributing to the market growth. 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. Furthermore, rising health consciousness, along with using wearable patches for tracking sports activities through fitness bands and smartwatches, is acting as another major growth-inducing factor. The market is also driven by the continual launch of customized and innovative skin patches that control skin exposure to ultraviolet (UV) rays, pollution, pollen and humidity, and can be used for melanoma therapies, including chemotherapy and radiotherapy. Other factors, including the rising geriatric population, the improving healthcare sector, especially in the developing economies, and rising consumer expenditure capacities, are creating a positive outlook for the market.

Wearable patch Market 2021-2026 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the wearable patch market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• iRhythm Technologies Inc.
• Kenzen Inc.
• Abbott Laboratories
• MTG UK Co. Ltd.
• Gentag Inc.
• UpRight Technologies Ltd.
• Insulet Corp.
• Delta Electronics Inc.
• Nemaura Medical Inc.

Key Market Segmentation:

The report has segmented the global wearable patch market on the basis of technology, end use and region.

Breakup by Technology:

• Connected
• Regular

Breakup by End Use:                                    

• Healthcare
• Fitness and Sports

Breakup by Region:                  

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

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Key Highlights of the Report:

• Market Performance (2015-2020)
• Market Outlook (2021-2026)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• The Impact of COVID-19 on the Global Market
• Value Chain Analysis
• Structure of the Global Market
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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