The latest report on Wearable Patch Market (by product (temperature patch, blood glucose patch, blood pressure patch, heart rate patch, ECG patch and blood oxygen patch), technology (connected and regular), application (clinical and non-clinical) and end-user (healthcare and fitness and sports)) provides complete and deep insights into the market dynamics and growth of wearable patch industry. The latest information on market risks, industry chain structure wearable patch cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential wearable patch growth factors. According to the report the global wearable patch market is projected to grow at a CAGR of 50.9% over the forecast period of 2018-2024.
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Continuous Monitoring of Patients Body Coupled with Precise Data, Minimal Interference With Body Movements and Easy Connectivity with the Various Smartphones are Some of the Pivotal Factor that is Driving the Growth of this Market
Wearable patches cab be affixed to the skin and can be worn for few hours to a couple of weeks. These patches are becoming more popular and can be used for sports, drug delivery or patient monitoring. These patches are also been used for the treatment and delivery of medication such as nicotine and anti-aging patches. The connected wearable patches feature wireless connectivity in addition to the features of regular wearable patches that helps in monitoring the health of an individual and delivering drugs accordingly.
Features such as continuous monitoring of patients bodies coupled with precise data, minimal interference with body movements, and easy connectivity with the various smartphones are some of the pivotal factors that are driving the growth of this market. In addition rise in the number of lifestyle diseases to fuel the market growth. However, the Lengthy process of governmental approvals and delays in new product launches are hiccups to market growth. Increasing acceptance of wearable patches in emerging countries and increase adoption towards a healthy lifestyle to create lucrative opportunities for the wearable patches industry.
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North America Dominated the Wearable Patch Market
In 2017, North America dominated the wearable patch market. U.S and Canada are key regions attributing to the growth of these region. Much of the region’s growth is associated due to the increase in the number of health-conscious individuals. Also, these patches have extensive usage among athletes, working professionals and individual consumers. Furthermore, most of the major manufacturers of a wearable smart patch are from these regions which increases the chances of product penetration/adoption among the people. Asia Pacific is expected to grow at the highest CAGR, owing to increasing awareness about a wearable patch and rising disposable income.
Segments in the Wearable Patch Market
The report on global wearable patch market covers segments such as, product, technology, application and end-user. On the basis of product, the global wearable patch market is categorized into temperature patch, blood glucose patch, blood pressure patch, heart rate patch, ecg patch and blood oxygen patch. On the basis of technology, the global wearable patch market is categorized into connected and regular. On the basis of application, the global wearable patch market is categorized into clinical and non-clinical. On the basis of end-user, the global wearable patch market is categorized into healthcare and fitness and sports.
Key Players in the Wearable Patch Market
The report provides profiles of the companies in the global wearable patch market such as, Abbott Laboratories, Insluet, Gentag, Proteus Digital Health, Nemaura Medical, OmniPod, HIVOX, X2 Biosystems and Kenzen.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the wearable patch.
- Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2024.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research– Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.