Wearable Patches Market to grow at Double Digit CAGR during the Forecast Period
Technology advancement of wearable patches and
increase in chronic diseases is expected to drive the global wearable patches
market.
According to TechSci Research report, “Global Wearable Patches Market, By Technology
(Connected v/s Regular), By Application (Monitoring, Drug Delivery,
Diagnostics, Others), By End User (Healthcare v/s Fitness & Sports), By
Company, By Region (North America, South America, Asia Pacific, Middle East
& Africa, Europe), Forecast & Opportunities, 2026”, the market for the global wearable patches market
is expected to witness significant growth during the forecast period. Rising
obesity observed around the globe and unhealthy living conditions is leading to
generation of chronic diseases and other serious conditions for instance diabetes
and atrial fibrillation. Wearable patches consist of sensors and actuators and
are used for monitoring and early diagnosis of chronic diseases. Patches are
used for monitoring, diagnosis and ensuring timely drug dosage which are aiding
in the global wearable patches market growth.
However, huge gap in the new product launches of
wearable patches coupled with intricate process for approval by government
authorities is expected to hinder the global wearable patches market growth.
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Global wearable patches market has been segmented
based on technology, application, end user, region, and company. Based on
regional analysis, market is further divided into North America, South America,
Asia Pacific, Europe and Middle East and Africa. North America is expected to
dominate the global wearable patches market owing to the huge investments in
addition to the presence of the significant players for the market growth.
Also, Asia Pacific is expected to witness substantial growth in the forecast
period owing to rise in the disposable income among middle class families and
affordability for quality treatment is expected to foster the global wearable
patches market growth.
Based on end user market is segmented into healthcare
and fitness and sports. Consumers are becoming more concerned regarding their
health and fitness. To constantly monitor health and keep track of calorie
using diet applications is aiding in the increase of the demand for fitness and
sports related wearable patches. Also, connectivity of patches through mobile
phones and real-time analysis fosters the surge in the demand for the global
wearable patches market.
Some of the leading players
in global wearable patches market are Ramsay Health Care, Fortis Healthcare
Limited, Community Health Systems, Inc., Spire Healthcare Group plc, Tenet
Healthcare Corporation, Universal Health Services, Inc., IHH Healthcare Berhad,
Apollo wearable patchess Enterprise Limited, HCA Healthcare, Fresenius SE
(Helios and Vamed), ORPEA Group, Netcare, Mayo Clinic, Aster DM Healthcare
Limited, China Resources Phoenix Healthcare Holdings Company Limited. In order
to expand their market share, the companies adopt new product launches,
collaborations, conduction of periodic sales and many more strategies. The growth
of the global wearable patches market owing to increase in the affordability of
wearable patches services coupled with surge in the chronic diseases is aiding global
wearable patches market growth which is anticipated to increase the competition
amongst key players and give out more positive outcomes.
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“Proliferation of internet services along with usage
of wireless technology for enhanced connectivity is increasing the demand for
the wearable patches market. Wearable patches keep track and monitor physical
activities and give recommendations comparable to fitness devices and smart
watches. Also, the flexibility of using wearable patches owing to advantage of
not restraining body movements is expected to drive the global wearable patches
market until 2026,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global
Wearable Patches Market, By Technology (Connected v/s Regular), By Application
(Monitoring, Drug Delivery, Diagnostics, Others), By End User (Healthcare v/s
Fitness & Sports), By Company, By Region (North America, South America,
Asia Pacific, Middle East & Africa, Europe), Forecast & Opportunities, 2026”, has evaluated
the future growth potential of global wearable patches market and provided
statistics & information on market size, shares, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in global wearable patches market.
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