Dublin, February 23, 2021 (GLOBE NEWSWIRE) – The “Technology Wearable Global Patch Market (Wearable Connected and Consistent Wearable), By Demand (Non-clinical and clinical), by region, industry analysis and pre- view, 2020 – 2026 “the report has been added ResearchAndMarkets.com’s offering.
Global Wearable Patch Market size is expected to reach $ 12.6 billion by 2026, rising at a market growth of 10.6% CAGR in the forecast period.
Wear packs are called electronic skins and smart packs. These are small, thin, and flexible in nature. Wear pads are used for drug delivery, disease surveillance, and diagnosis. These packs are helpful in maintaining health and well-being in aging patients with chronic illnesses such as diabetes and others. Currently, the affordable technologies market is growing, due to an increase in research and development activities for the design of a new accessible niche made by key players working in the market.
Features such as continuous monitoring of the patient’s body along with accurate data, minimal interference with body movements and easier connection with the several smartphones are the main features driving the growth of this market. In addition, the rise in a number of lifestyle diseases will also stimulate market growth.
On the other hand, a long process of government support and a breakdown in the launch of new products hinders the growth of the market. Increasing adoption of consumption packages in developing countries and increasing adoption towards a healthy lifestyle to create profitable opportunities for the wearable patent market.
With Technology
Based on Technology, the market is segmented into Wearable Connected and Consistent Wearable. The Connected Wearable sector has the largest revenue share in 2019. This large portion of this segment is guaranteed to have more and more chronic diseases in addition to the growing demand for its ‘wearable pat in emerging countries. The rapidly growing and ever-increasing numbers of cardiovascular diseases are the key factors that are expected to drive the growth of sepsis in the foreseeable future.
By Request
Based on Demand, the market is segmented into Non-Clinical and Clinical. The clinical sector has the largest revenue share in 2019. Due to the rapidly growing number of patients and growing investments in R&D for a new consumption patch, the sector is expected to show growth in the coming years.
Increasing investment in the clinical research industry with a number of market players to increase efficiency and productivity has led manufacturers to focus on these activities. The main reasons behind the progress of this section are a growing focus on the wear and tear and increasing R&D consumption.
By area
By regions, the market is divided into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America is the main sector for the Wearable Patch Market, due to the large number of manufacturers in the North American region contributing significantly to the growth of this sector. However, other emerging economies such as Asia Pacific are expected to experience significant growth due to rising disposable incomes in the population and rising awareness about disposable skincare in the Asia region. Pacific.
The main strategies that follow the market participants are Product Launches and Partnerships. Based on the analysis presented in the Cardinal matrix; Koninklijke Philips NV, Abbott Laboratories, Qualcomm, Inc., and L’Oreal Group are leaders in the Wearable Patch Market. Companies such as VivaLNK, Inc., LifeSignals Group, Inc., and Smith & Nephew PLC are some of the leading innovators in the market.
Key topics covered:
Chapter 1. Scope & Market Approach
1.1 Market definition
1.2 Aims
1.3 Market coverage
1.4 Separation
1.5 Approach to the research
Chapter 2. Market outlook
2.1 Introduction
2.2 Key factors influencing the market
Chapter 3. Competition Analysis – Global
3.1 Cardinal Matrix
3.2 Recent Business Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product launch and product expansion
3.2.3 Agreements
3.3 Best Winning Strategies
3.3.1 Key Management Strategies: Percentage Distribution (2016-2020)
3.3.2 Key strategic trends: (Product launch and product expansion: 2016, February – 2020, September) Key players
Chapter 4. Global Wearable Patch Market with Technology
4.1 Global Connected Global Market by Region
4.2 Global consistent consumption market by region
Chapter 5. Global Wearable Patch Market by Demand
5.1 Global Non-Clinical Market by Area
5.2 Global Clinical Market by area
Chapter 6. Global Wearable Patch Market by Region
Chapter 7. Company Profiles
- DexCom, Inc.
- Abbott Laboratories
- Koninklijke Philips NV
- Smith & Nephew PLC (Leaf Healthcare, Inc.)
- Qualcomm, Inc.
- L’Oreal Group
- VivaLNK, Inc.
- Cardiac Vision, Inc.
- AliveCor, Inc.
- LifeSignals Group, Inc.
For more information about this report, visit https://www.researchandmarkets.com/r/68ej4h
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