Growing Medical Expenses to Boost Wearable Adhesive Market
MarketResearchReports.biz has announced the addition of a new market study to its repository, titled “Global Wearable Adhesive Market 2017-2021.” According to the report, the global wearable adhesive market is slated to witness a high growth in the coming years and expand at an 11.92% CAGR between 2017 and 2021 on account of growing incidences of lifestyle diseases, increasing healthcare costs, and growing awareness of healthy lifestyle. Wearable adhesives help in attaching a wearable medical device to the skin and thus, the growth of this market is directly dependent on the growth of the wearable devices market. Technological advancements are ensuring the development and innovations of wearable devices designed for varying purposes and this is ensuring the growth of the global wearable adhesive market.
The report is a comprehensive analysis of the key factors driving and challenging the growth of the global wearable adhesive market. It segments the market on the basis of key criteria and studies the wearable adhesive market on the global as well as regional basis. The past and present state of the market is used for predicting the future of the global wearable adhesive market, including the size, performance of the segments, and future potential. The trends in the market which are impacting the industry are studied and the opportunities of growth in the market are analyzed.
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The continued growth of the geriatric population worldwide is resulting in an increased prevalence of diseases, which have thereby become global concerns. As people are becoming increasingly aware and concerned about their health, they are opting for gym memberships, following diet programs, and using mobile applications to track their daily health routine. This in turn is pushing the demand for wearable patches, which help people in monitoring their health and prevent health hazards. The use of wearable patches in turn is driving the global wearable adhesive market.
The cost of healthcare is increasing and this is one of the primary reasons pushing people across the globe to make use of health and fitness tracking devices. As these devices come in handy to monitor calories intake, heart rate, blood pressure, and sugar levels, they eliminate the need for users to visit doctors for general checkups, thereby saving costs and valuable time. Thus, the demand for wearable devices is increasing and with it, the demand for wearable adhesives. However, the market for wearable adhesive is challenged by the limited amount of trust users have for wearable devices. In addition to this, cost can be another factor which is restricting their adoption. A lack of knowledge about the benefits of adopting wearable medical devices will also hamper the growth of the market.
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Key players operating in the market include: 3M, Proteus Digital Health, Abbott Laboratories, Scapa Group, Chemence, Adhezion Biomedical, Dow Corning, Gentag, Ethicon, and GluStitch.
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