Wearable Patch Market Poised to Grow at a CAGR of 50.9% by 2024
Infinium Global Research has added a new report on Wearable Patch Market. The report presents analysis of global as well as regional markets of wearable patch market over the period of 2016 to 2024.
Features such as continuous monitoring of patients body coupled with precise data, minimal interference with body movements and easy connectivity with the various smart phones 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 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 wearable patch and rising disposable income.
Key Development- MC10’s BioStamp nPoint Biometric Recording System gets FDA Approval
BioStampRC device is a wearable smart patch that is stuck to the patient’s body. It can then continuously record parameters such as the heart rate, step count and movements during sleep. It is primarily used for patient monitoring, however it is also used for clinical studies that keeps a close eye on patient vitals. These devices comes with a smartphone for the patient that has a matching app to guide users on how to apply the sensor, do specific routines, and anything else related to their particular study or health situation.
Moreover, the growth matrix presented by Infinium Global Research identifies the key investment markets in the near future, this will not only help the companies to understand the competitive position in the global wearable patch market but also make strategic decisions to capture the most lucrative markets in the near future. The market size is presented in terms of value for the historic year 2016 and estimated for forecast period of 2018-2024.
Get 15% discount for early purchase of global wearable patch market report by clicking the following link, Use code IGRD15 to request the discount in the given form
The recent report identified that North America dominated the global wearable patch market over the last couple of years, while emerging markets of Asia-Pacific and Latin America are anticipated to contribute significantly to the growth in the wearable patch market worldwide.
The report segments the global wearable patch market on the basis of Product, Technology, Application and End-User.
Global Wearable Patch Market by Product
· Temperature Patch
· Blood Glucose Patch
· Blood Pressure Patch
· Heart Rate Patch
· ECG Patch
· Blood Oxygen Patch
Global Wearable Patch Market by Technology
Global Wearable Patch Market by Application
Global Wearable Patch Market by End-User
· Fitness And Sports
Companies Profiled in the Report
· Abbott Laboratories
· Proteus Digital Health
· Nemaura Medical
· X2 Biosystems
About Infinium Global Research
Infinium Global Research is a business intelligence company that provides its clients with market information services, solutions, and reports. The intelligence reports include qualitative as well as quantitative information, which are blended using forecasting models in order to project future market demand. Our panels of Subject Matter Experts (SMEs), Analysts, and Consultants use numerous data gathering tools in order to provide you with detailed information on the market as well as a preview of its projected growth. Our repository includes the largest and most credible databases, through which we determine various qualitative and quantitative parameters of the market to provide you with an in-depth business intelligence report.
Infinium Global Research reports and consulting services cover numerous sectors, which include healthcare, chemicals, materials, energy, packaged goods, food and beverages, technology, and communications. These reports provide readers with market insights and detailed analysis of market segments to possible micro levels. Our reports, with stratified research methodology and wider scope of analysis, provide clients with crucial insights and information to meet their every requirement.