According to a market report by Lucintel, 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.
In this market, connected and regular are the two types of wearable patch used in various end use industries. 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.
Within this market, 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.
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. Abbott Laboratories, iRhythm Technologies, Johnson & Johnson Services, Koninklijke Philips, L’Oreal, LifeSignals, Medtronic, Qualcomm Technologies, VitalConnect, and VivaLNK are the major suppliers in the global wearable patch market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global wearable patch market by product type, application, end use industry, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Wearable 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 wearable patch market by 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
A more than 150 pages and in-depth TOC on “Global Wearable Patch Market". To download report brochure, please go to and click "report brochure" tab from the menu.
For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link or write us at helpdesk@lucintel.com.
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 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?