Wearable Patch Market Overview, Growth, Trends, Opportunities and Forecast Till 2026

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 is expected to grow at a CAGR of around 15% during 2021-2026. 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.

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.

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Market Trends and Drivers:

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.

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:

Abbott Laboratories
iRhythm Technologies Inc.
Kenzen Inc.
MTG UK Co. Ltd.
Gentag Inc.
UpRight Technologies Ltd.
Insulet Corp.
Delta Electronics Inc.
Nemaura Medical Inc.

Key Market Segmentation:

The report has segmented the global wearable patch market on the basis of technology, end use and region.

Breakup by Technology:

Connected
Regular

Breakup by End Use:

Healthcare
Fitness and Sports

Breakup by Region:

North America
Asia Pacific
Europe
Latin America
Middle East and Africa

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Key Highlights of the Report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
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.

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