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, the market is expected to grow at a CAGR of around 15% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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.
Request Free Sample Report: https://www.imarcgroup.com/wearable-patch-market/requestsample
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:
MTG UK Co. Ltd.
Delta Electronics Inc.
Nemaura Medical Inc.
iRhythm Technologies Inc.
UpRight Technologies Ltd.
Key Market Segmentation:
The report has segmented the global wearable patch market on the basis of technology, end use and region.
Breakup by Technology:
Breakup by End Use:
Fitness and Sports
Breakup by Region:
Middle East and Africa
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/wearable-patch-market
Key Highlights of the Report:
Market Performance (2015-2020)
Market Outlook (2021-2026)
Market Drivers and Success Factors
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.
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.
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800