Wearable Patch Market : Future Demand, Market Analysis & Outlook to 2024
The Infinium Global Research analyzes the report of Wearable Patch Market over the period of 2018 to 2024. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in Global Wearable Patch Market. It will help a lot of decision makers to develop strategies and find new opportunities in the Global markets of Wearable Patch.
The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the Wearable Patch Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Wearable Patch Market are Insluet, Gentag, Proteus Digital Health, Nemaura Medical, OmniPod, HIVOX, X2 Biosystems and Kenzen. According to report the global wearable patch market is projected to grow at a CAGR of 50.9% over the forecast period of 2018-2024.
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Wearable patches cab be affixed to the skin and can be worn for few hours to a couple of weeks. These patches are becoming more popular and can be used for sports, drug delivery or patient monitoring. These patches are also been used for the treatment and delivery of medication such as nicotine and anti-aging patches. The connected wearable patches feature wireless connectivity in addition to the features of regular wearable patches that helps in monitoring the health of an individual and delivering drugs accordingly.
Features such as continuous monitoring of patients body coupled with precise data, minimal interference with body movements and easy connectivity with the various smartphones are some of the pivotal factor that are driving the growth of this market. In addition rise in number of lifestyle diseases too fuel the market growth. However, Lengthy process of governmental approvals and delay in new product launch are hiccups to the market growth. Increasing acceptance of wearable patches in emerging countries and increase adoption towards healthy lifestyle to create lucrative opportunities for wearable patches market.
In 2017, North America dominated the wearable patch market. U.S and Canada are key regions attributing to the growth of these region. Much of the region’s growth is associated due to the increase in the number of health-conscious individuals. Also, these patches have extensive usage among athletes, working professionals and individual consumers. Furthermore, most of the major manufacturers of a wearable smart patch are from these region which increases the chances of product penetration/adoption among the people. Asia Pacific is expected to grow at the highest CAGR, owing to increasing awareness about a wearable patch and rising disposable income.
The report on global wearable patch market covers segments such as, product, technology, application and end-user. On the basis of product the global wearable patch market is categorized into temperature patch, blood glucose patch, blood pressure patch, heart rate patch, ecg patch and blood oxygen patch. On the basis of technology the global wearable patch market is categorized into connected and regular. On the basis of application the global wearable patch market is categorized into clinical and non-clinical. On the basis of end-user the global wearable patch market is categorized into healthcare and fitness and sports.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
Major Key Players Mentioned in this Premium Report
The report provides profiles of the companies in the global wearable patch market such as, Abbott Laboratories, Insluet, Gentag, Proteus Digital Health, Nemaura Medical, OmniPod, HIVOX, X2 Biosystems and Kenzen.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global wearable patch market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of wearable patch market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the wearable patch market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the wearable patch market to understand the present and future trends in this market and formulate their strategies accordingly.
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