Globe Newswire
Worldwide Wearable Patch Industry to 2027 – Opportunity Analysis and Industry Forecasts
Dublin, May 21, 2021 (GLOBE NEWSWIRE) — The “Wearable Patch Market by Product and End Use: Global Opportunity Analysis and Industry Forecast, 2020-2027” report has been added to ResearchAndMarkets.com’s offering. The global wearable patch market was valued at $ 12,239.7 million in 2019, and is projected to reach $ 27,820.5 million by 2027, registering a CAGR of 9.6% from 2020 to 2027.Wearable patch, also known as smart patch or electronic skin, is used for disease monitoring, drug delivery, and diagnosis applications. Wearable patches help to maintain health and wellbeing in elderly patients suffering from chronic conditions such as diabetes and cardiovascular diseases.Growth of the global wearable patch market is majorly driven by rise in technological advancements in wearable patches, increase in prevalence of chronic diseases, and growth in awareness among consumers regarding wearable patches. For instance, according to the International Diabetes Federation (IDF), worldwide prevalence of diabetes in 2019 was around 463 million individuals, and is anticipated to reach to 700 million by 2045. Hence, increase in incidences of diabetes is expected to propel demand for wearable patches, which, in turn, propels the market growth. In addition, the connected wearable patches are gaining traction across the world owing to rise in adoption of connectivity technologies, namely, microprocessor controller, Bluetooth, and myoelectric technology.Moreover, high cost of sensor patches along with concerns regarding data privacy and security are anticipated to restrain the market growth during the forecast period. High cost of sensor monitoring patches in emerging economies such as India, China, and Brazil is expected to impede the market growth during the forecast period. For instance, average selling price of ECG sensor patch in these countries is between $ 300 and $ 4,500.Depending on product, the market is segmented into temperature patch, blood glucose patch, blood pressure patch, heart rate patch & ECG patch, skin care patch, and others. The blood glucose patch segment is expected to dominate the market as several patients with diabetes are advised to monitor blood glucose on a regular basis to prevent development of hyperglycemia and hypoglycemia.Competitive rivalry in the global wearable patch market was observed at high level as major players have focused on the adoption of growth strategies such as product launches, mergers and acquisitions (M&As), and partnerships & collaborations to attain strong position in the competitive market. Key players operating in the global wearable patch market include Abbott Laboratories, iRhythm Technologies, Inc., Johnson & Johnson Services, Inc., Koninklijke Philips N.V., L’Oreal Group, LifeSignals, Inc., Medtronic Plc (Zephyr Technology Corporation), Qualcomm Technologies, Inc., VitalConnect, Inc., and VivaLNK.Key Benefits The study provides an in-depth analysis of the global wearable patch market size along with the current trends and future estimations to elucidate the imminent investment pocketsIt offers market analysis from 2020 to 2027, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the marketA comprehensive analysis on the region assists to understand the regional market and facilitate strategic business planning and determine prevailing opportunitiesThe profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global wearable patch market growth Key Topics Covered: CHAPTER 1: INTRODUCTION1.1. Report description1.2. Key benefits for stakeholders1.3. Key market segments1.4. Research methodology1.4.1. Secondary research1.4.2. Primary research1.4.3. Analyst tools and modelsCHAPTER 2: EXECUTIVE SUMMARY2.1. Key findings of the study2.2. CXO perspectiveCHAPTER 3: MARKET LANDSCAPE3.1. Market definition and scope3.2. Key findings3.2.1. Top investment pockets3.2.2. Top winning strategies3.3. Porter’s five forces analysis3.4. Top player positioning, 20193.5. Market dynamics3.5.1. Drivers3.5.1.1. Increasing technological advancements in wearable patch3.5.1.2. Growing awareness among consumers regarding wearable patch3.5.1.3. Rising prevalence of chronic diseases3.5.1.4. Increased demand for the connected wearable patches3.5.2. Restraints3.5.2.1. High cost of sensor patch3.5.2.2. Concerns regarding data privacy and security3.5.3. Opportunity3.5.3.1. Increase in adoption of telehealth3.5.4. Impact analysis3.6. Impact analysis of the COVID-19 on wearable patch marketCHAPTER 4: WEARABLE PATCH MARKET, BY PRODUCT4.1. Overview4.1.1. Market size and forecast4.2. Temperature patch4.2.1. Market size and forecast, by region4.2.2. Market analysis, by country4.3. Blood glucose patch4.3.1. Market size and forecast, by region4.3.2. Market analysis, by country4.4. Blood pressure patch4.4.1. Market size and forecast, by region4.4.2. Market analysis, by country4.5. Heart rate patch & ECG patch4.5.1. Market size and forecast, by region4.5.2. Market analysis, by country4.6. Skin care patch4.6.1. Market size and forecast, by region4.6.2. Market analysis, by country4.7. Others4.7.1. Market size and forecast, by region4.7.2. Market analysis, by countryCHAPTER 5: WEARABLE PATCH MARKET, BY END USE5.1. Overview5.1.1. Market size and forecast5.2. Healthcare5.2.1. Market size and forecast, by region5.2.2. Market analysis, by country5.3. Fitness and sports5.3.1. Market size and forecast, by region5.3.2. Market analysis, by countryCHAPTER 6: WEARABLE PATCH MARKET, BY REGIONCHAPTER 7: COMPANY PROFILES7.1. Abbott Laboratories7.1.1. Company overview7.1.2. Company snapshot7.1.3. Operating business segments7.1.4. Product portfolio7.1.5. Business performance7.1.6. Key strategic moves and developments7.2. iRhythm Technologies, Inc.7.2.1. Company overview7.2.2. Company snapshot7.2.3. Operating business segments7.2.4. Product portfolio7.2.5. Business performance7.2.6. Key strategic moves and developments7.3. Johnson & Johnson Services, Inc.7.3.1. Company overview7.3.2. Company snapshot7.3.3. Operating business segments7.3.4. Product portfolio7.3.5. Business performance7.3.6. Key strategic moves and developments7.4. Koninklijke Philips N. V.7.4.1. Company overview7.4.2. Company snapshot7.4.3. Operating business segments7.4.4. Product portfolio7.4.5. Business performance7.4.6. Key strategic moves and developments7.5. L’Oreal Group7.5.1. Company overview7.5.2. Company snapshot7.5.3. Operating business segments7.5.4. Product portfolio7.5.5. Business performance7.5.6. Key strategic moves and developments7.6. LifeSignals, Inc.7.6.1. Company overview7.6.2. Company snapshot7.6.3. Operating business segments7.6.4. Product portfolio7.6.5. Key strategic moves and developments7.7. Medtronic plc (Zephyr Technology Corporation)7.7.1. Company overview7.7.2. Company snapshot7.7.3. Operating business segments7.7.4. Product portfolio7.7.5. Business performance7.8. Qualcomm Technologies, Inc.7.8.1. Company overview7.8.2. Company snapshot7.8.3. Operating business segments7.8.4. Product portfolio7.8.5. Business performance7.9. VitalConnect , Inc.7.9.1. Company overview7.9.2. Company snapshot7.9.3. Operating business segments7.9.4. Product portfolio7.9.5. Key strategic moves and developments7.10. VivaLNK7.10.1. Company overview7.10.2. Company snapshot7.10.3. Operating business segments7.10.4. Product portfolio7.10.5. Key strategic moves and developmentsFor more information about this report visit https://www.researchandmarkets.com/r/tcevs5 CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900