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Wearable Patch Market Trends Estimates High Demand By 2026

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Increasing incidence of chronic diseases such as diabetes, cancer, and heart disease is one of the key factors driving the market growth. Wearable patches are non-invasive devises use for a longer period of time. Advances are made in user comfort, s
Wearable Patch Market Trends Estimates High
Demand By 2026
Wearable Patch Market, by Product Type (Blood Glucose Patch, Temperature
Patch, Blood Pressure Patch, Heart Rate Patch, ECG Patch, and Blood Oxygen
Patch), by Technology (Connected, and Regular), by Application (Clinical, and
Non-Clinical), by End User (Healthcare, Fitness, and Sports), and by Region
(North America, Latin America, Europe, Asia Pacific, Middle East and Africa) Size, Share, Outlook and Opportunity analysis, 2019 – 2026
Wearable patches are known as smart patches or electronic skin. Wearable patches are thin, small, and
flexible in nature, and are used for disease monitoring, drug delivery, and diagnosis. Also, wearable
patch help to maintain health and well-being in elderly patients suffering from chronic conditions such
as diabetes, lung disease, etc. Presently, the market of wearable technologies is increasing due to
research and development activities carried out by companies. Wearable patches can be used in several
ways, such as patches which can be worn on the body or stuck to the skin, or patches such as
scopolamine patches and transdermal patches which can be directly attached to the affected organ for
disease monitoring. A nicotine patch is a transdermal patch which releases nicotine into the body, and is
used in nicotine replacement therapy (NRT).
Wearable Patch Market- Drivers
Increasing incidence of chronic diseases such as diabetes, cancer, and heart disease is one of the key
factors driving the market growth. Wearable patches are non-invasive devises use for a longer period of
time. Advances are made in user comfort, sensor accuracy and demonstration of wearable patch and its
uses in both clinical and non-clinical area. Increase in healthcare expenditure has led to higher demand
for wearable products, which is projected to facilitate growth of the wearable patch market over the
forecast period.
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Wearable Patch Market – Market Taxonomy
•On the basis of product type, the global wearable patch market is segmented into:
•Blood Glucose Patch
•Temperature Patch
•Blood Pressure Patch
•Heart Rate Patch
•ECG Patch
•Blood Oxygen Patch
•On the basis of technology, the global wearable patch market is segmented into:
•Connected
•Regular
•On the basis of application, the global wearable patch market is segmented into :
•Clinical
•Non-clinical
•On the basis of end user, the global wearable patch market is segmented into :
•Healthcare
•Fitness
•Sports
Wearable Patch Market – Competitive Land Scape
Key players operating in the global wearable patch market include Abbott Laboratories, Kenzen,
Gentag, Proteus Digital Health, Insluet, Nemaura Medical, Proteus Digital Health, Cequr, Chrona
Therapeutics, Dexcom, Feeligreen, Fitlinxx, and G-Tech Medical. Some other major companies are
Medtronic, Loreal, Irhythm Technology, Leaf Healthcare, Delta Electronics, Zansors, X2 biosystems,
and Valendo.
Wearable Patch Market - Regional Insights
In 2017, North America accounted for the highest growth in the wearable patch market owing to
product launches and technological advancements in the region. In Jan 2019, L’Oreal launched the first
wearable patch in U.S containing a microfluidic sensor which is useful for measuring the skin PH
levels. As per the Business Standard press release, in May 2019, researchers from the University Of
California developed a wearable temperature patch that cools or warms the wearer’s skin to a suitable
temperature. According to the researchers, it can also save energy on heating and air conditioning.
The Europe wearable patch market is highly competitive due to presence of key players in the market
such as Samsung, Microsoft, Google Inc. Moreover, increasing focus on product developments by key
players is contributing to the growth and development of the wearable patch market in Europe.
Asia Pacific is also expected to exhibit positive growth in the Wearable Patch Market in the near
future owing to increasing geriatric population in the region. As per the United Nations Population
Fund, Asia Pacific report 2018, by 2050 one out of four people will be over 60 years of age, and aging
population rate is growing at a rapid pace since 2010 and expected to reach around 1.3 billion people
by 2050. Increasing government investment in technological advancement and rising healthcare
expenditure is expected to propel growth of the wearable patch market. According to the Organization
of Economic Co-operation and Development, Health Statistics report 2018, the healthcare spending
rate in Asia Pacific region from 2010 – 2015 was 5.3% per year.
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