The market of Wearable Patch is anticipated to grow at a significant CAGR during forecast period. Advanced medical bandages worn on the body for illness monitoring, drug delivery, diagnosis, and patient well-being are referred to as wearable patches. Sensors, actuators, energy storage and communication systems are among the electronic components found in the patches. They capture data at regular intervals and send it to smartphones or health information systems (HIS).
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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 are among the most regularly used wearable patches. They’re small and flexible, allowing for continuous or semi-constant monitoring of physiological parameters as well as a variety of sophisticated ECG tests without attaching the patient to a wired hub.
One of the important reasons driving the market’s growth is the rising prevalence of lifestyle diseases and chronic medical disorders such as diabetes, cardiovascular diseases (CVDs), and hyperglycemia. Furthermore, increased health awareness among the general public is boosting market growth. Wearable patches are used to track sporting activities via fitness bands, smartwatches, and HIS, as well as for early identification of illnesses.
Other growth-inducing variables include technical improvements such as the development of customised skin patches that monitor an individual’s exposure to ultraviolet (UV) radiation, pollution, pollen, and humidity. Manufacturers are also working on novel wearable cosmetic patches that can be used in conjunction with melanoma treatments such as chemotherapy and radiotherapy. Other reasons, such as an ageing population, rising healthcare costs, and considerable advances in healthcare infrastructure, particularly in developing nations, are expected to propel the market expansion.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered-
o By Technology
o By Application
- Competitive Landscape: AliveCor Inc, VivaLNK Inc, Cardiac Insight Inc, VitalConnect, LifeSignals Inc and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Wearable Patch Market- Segmentation
By Technology
- Regular Wearable
- Connected Wearables
By Application
- Clinical
- Non Clinical
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