Wearable Patch Market Report: Trends, Forecast and Competitive Analysis

Wearable Patch Market Trends and Forecast

The future of the wearable patch market looks promising with opportunities in the clinical and non-clinical applications. The global wearable patch market is expected to grow with a CAGR of 6% to 8% from 2023 to 2028. The major drivers for this market are growing prevalence of chronic disorders, increasing awareness among consumers for wearable devices, and rising technological advancements in wearable patches.

Wearable Patch Market

Emerging Trends in the Wearable Patch Market

Emerging trends, which have a direct impact on the dynamics of the industry, include growing adoption of telehealth, increasing prevalence of atrial fibrillation, and advent of remote patient monitoring.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below. To learn the scope, benefits, companies researched and other details of the global wearable patch market report, please download the report brochure.

Wearable Patch Market by Segments

Wearable Patch Market by Segment

The study includes a forecast for the global wearable patch market by product type, application, end use industry, and region, as follows:

Wearable Patch Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:

Connected

Regular

Wearable Patch Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

Clinical

Non-Clinical

Wearable Patch Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:

Hospital & Clinics

Ambulatory Centers

Others

Wearable Patch Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

North America

Europe

Asia Pacific

The Rest of the World

List of Wearable Patch Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies wearable patch companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the anti-reflective coatings' companies profiled in this report include.

Abbott Laboratories

iRhythm Technologies

Johnson & Johnson Services

Koninklijke Philips N.V.

L'Oreal

LifeSignals

Medtronic

Qualcomm Technologies

VitalConnect

VivaLNK

Wearable Patch Market Insights

Lucintel forecasts that connected will remain the larger segment over the forecast period due to the increasing prevalence of chronic diseases, rising demand for the wearable patch in developing countries, rapidly increasing aging population, and increasing prevalence of cardiovascular diseases.

Clinical is expected to remain the largest segment due to the rapidly increasing patient population, increasing investments in the R&D of the wearable patch, and growing investment in the clinical research industry by various players in the market to boost their efficiency and productivity.

North America will remain the largest region due to the rapid increase in the development of the wearable device to meet the growing demand for efficient healthcare in the region, strong R&D and promotion of new therapies, and the region being the top manufacturing hub for highly reliable, complex, and high-end wearable medical devices.

Features of the Wearable Patch Market

Market Size Estimates: Wearable patch market size estimation in terms of value ($B)

Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.

Segmentation Analysis: Wearable patch market size by various segments, such as by product type, application, end use industry, and region

Regional Analysis: Wearable patch market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.

Growth Opportunities: Analysis on growth opportunities in different by product type, application, end use industry, and regions for the wearable patch market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape for the wearable patch market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the wearable patch market size?

Answer: The global wearable patch market is expected to reach an estimated $xx billion by 2028.

Q2. What is the growth forecast for wearable patch market?

Answer: The global wearable patch market is expected to grow with a CAGR of 6% to 8% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the wearable patch market?

Answer: The major drivers for this market are growing prevalence of chronic disorders, increasing awareness among consumers for wearable devices, and rising technological advancements in wearable patches.

Q4. What are the major segments for wearable patch market?

Answer: The future of the wearable patch market looks promising with opportunities in the clinical and non-clinical applications.

Q5. What are the emerging trends in wearable patch market?

Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include growing adoption of telehealth, increasing prevalence of atrial fibrillation, and advent of remote patient monitoring.

Q6. Who is the key wearable patch companies?

Answer: Some of the key wearable patch companies are as follows:

Abbott Laboratories

iRhythm Technologies

Johnson & Johnson Services

Koninklijke Philips N.V.

L'Oreal

LifeSignals

Medtronic

Qualcomm Technologies

VitalConnect

VivaLNK

Q7. Which wearable patch segment will be the largest in future?

Answer: Lucintel forecasts that connected will remain the larger segment over the forecast period due to the increasing prevalence of chronic diseases, rising demand for the wearable patch in developing countries, rapidly increasing aging population, and increasing prevalence of cardiovascular diseases.

Q8. In wearable patch market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region due to the rapid increase in the development of the wearable device to meet the growing demand for efficient healthcare in the region, strong R&D and promotion of new therapies, and the region being the top manufacturing hub for highly reliable, complex, and high-end wearable medical devices.

Q9. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

• Q.1. What are some of the most promising, high-growth opportunities for the wearable patch market by product type (connected and regular), application (clinical and non-clinical), end use industry (hospitals & clinics, ambulatory centers, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?