Wearable Patch Market is anticipated to grow at a CAGR of 6% to 8% during 2023-2028


Posted January 16, 2023 by Lucintel

The global wearable patch market is projected to reach $XX billion by 2028, at a CAGR of 6% to 8% during 2023-2028.

 
The global wearable patch market is projected to reach $XX billion by 2028, at a CAGR of 6% to 8% during 2023-2028. The growth of wearable patch market is driven by growing prevalence of chronic disorders, increasing awareness among consumers for wearable devices, and rising technological advancements in wearable patches.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the wearable patch market by winglet 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 What are the business risks and threats to the wearable patch market?
Q.4 What are some changing demands of customers in the wearable patch market?
Q.5 What are the new developments in the wearable patch market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this wearable patch area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this 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.

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Market Segmentation:
Based on product type, the wearable patch market is segmented into connected and regular. The connected segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during 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.
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.
Key Players in the wearable patch market are Abbott Laboratories, iRhythm Technologies, Johnson & Johnson Services, Koninklijke Philips N.V., L’Oreal, LifeSignals, Medtronic, Qualcomm Technologies, VitalConnect, and VivaLNK.
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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
To read more about this market please click on https://www.lucintel.com/wearable-patch-market.aspx
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It 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.
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. 972.636.5056
Cell: 303.775.0751
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Tags wearable patch market
Last Updated January 16, 2023