According to a market report by Lucintel, the future of the smart patch market looks promising with opportunities in the clinical and non-clinical applications. The global smart patch market is expected to grow with a CAGR of 21% to 23% from 2023 to 2028. The major drivers for this market are the increasing occurrence of chronic as well as lifestyle associated diseases, expanding inclination towards personal fitness, and growing geriatric population.
Transdermal transmission, electronic stimulation, and monitoring are the major segments of smart patch market by product type. Lucintel forecasts that monitoring will remain the largest segment over the forecast period due to the increase in demand for tracking cardio activity among aging population.
Within this market, clinical is expected to remain the larger segment due to increasing adoption of smart patch to monitor health and heartbeat of a patient through smartphone devices.
APAC will remain the fastest growing region due increasing prevalence of chronic diseases & lifestyle disorders, growing geriatric population, urbanization, and mounting healthcare spending.
BioIntelliSence, iRhythm, BioTelemetry, Feeligreen G-Tech, GENTAG, The IONTO Team, Insulet, Medtronic, Tracxn, and VivaLNK are the major suppliers in the global smart patch market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global smart patch market by product type, technology, application, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Smart Patch Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global smart patch market by product type, technology, application, and region, as follows:
Smart Patch Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:
· Transdermal Transmission
· Electronic Stimulation
· Monitoring
Smart Patch Market by Technology [Value ($B) Shipment Analysis from 2017 to 2028]:
· Connected
· Regular
Smart Patch Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
· Clinical
· Non-Clinical
Smart Patch Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
· North America
· Europe
· Asia Pacific
· The Rest of the World
A more than 150 pages and in-depth TOC on “Global Smart Patch Market". To download report brochure, please go to
https://www.lucintel.com and click "report brochure" tab from the menu.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the smart patch market by product type (transdermal transmission, electronic stimulation, and monitoring), technology (connected and regular), application (clinical and non-clinical), 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?