Le Lézard
Classified in: Health, Science and technology, Covid-19 virus
Subject: MRR

Global Wearable Patches Market Analysis Report 2023: Market to Exceed $26.8 Billion by 2031 - AI Algorithms for Wearable Patches for Better Clinical Outcome Presents Unique Opportunities


DUBLIN, Dec. 8, 2023 /PRNewswire/ -- The "Wearable Patches Market - A Global and Regional Analysis: Focus on Usage Type, Application, End User, and Region - Analysis and Forecast, 2023-2031" report has been added to  ResearchAndMarkets.com's offering. 

Research and Markets Logo

The global wearable patches market was valued at $10,462.4 million in 2022 and is expected to reach $26,892.7 million by 2031, growing at a CAGR of 10.19% between 2023 and 2031.

Wearable patches represent a revolutionary advancement in the field of healthcare technology, offering a compact and non-invasive solution for monitoring various physiological parameters and delivering therapeutic interventions. These innovative patches are designed to adhere comfortably to the skin, providing continuous real-time data collection, analysis, and communication with healthcare professionals or individuals themselves.

The key factors driving the growth of the global wearable patches market include continuous monitoring of body vitals and minimum interference with body movement, increasing prevalence of chronic disorders (diabetes, strokes, etc.), rising technological advancement, and a growing geriatric population.

The top segment players who are leading include manufacturers of different kinds of wearable medical patches. The blood glucose patches captured around 82.23% of the presence in the market in 2022. This was followed by the heart rate and ECG patches, which accounted for approximately 9.47% of the presence in the market in 2022.

Market Segmentation

Blood Glucose Patches Dominate the Global Wearable Patches Market

Blood glucose patches are innovative medical devices designed for continuous monitoring of blood sugar levels in individuals with diabetes. These patches offer several advantages over traditional glucose monitoring methods, such as fingerstick tests. Some of its advantages are as follows:

Continuous Monitoring: Blood glucose patches provide real-time, continuous data on blood sugar levels. This constant monitoring helps individuals and healthcare providers make timely and informed decisions regarding insulin dosages, dietary choices, and overall diabetes management.

Minimized Discomfort: Unlike frequent fingerstick tests, which can be painful and inconvenient, wearable devices offer a more comfortable and non-invasive way to monitor blood glucose levels. They eliminate the need for frequent needle pricks.

Convenience: Wearable patches are discreet and can be worn underneath clothing, allowing individuals to monitor their glucose levels without drawing attention to themselves. This convenience encourages regular monitoring and adherence to treatment plans.

Data Trends: Blood glucose patches often come with accompanying mobile apps or software that display historical data and trends. This information can help individuals and healthcare providers identify patterns, adjust treatment plans, and improve diabetes management over time.

Alerts and Alarms: Many wearable patches are equipped with customizable alerts and alarms, sending timely notifications. These notifications can warn individuals of potential hypoglycemia (low blood sugar) or hyperglycemia (high blood sugar) episodes, enabling prompt action.

Monitoring and Diagnostics to be the Major Application in the Global Wearable Patches Market

Wearable patches are widely used for the monitoring and diagnosis of vital parameters such as blood pressure, pulse rate, and blood glucose levels. These are equipped with numerous sensors which can adhere to the skin using a skin adhesive. These patches are usually non-invasive, so they are patient-friendly as well.

Patches such as blood glucose patches, heart rate and ECG patches, temperature patches, and others are used for monitoring and diagnosis of various conditions. For instance, different key players operating in the market are providing products with unique value propositions such as long battery life, easy recharge, and maintenance. These patches provide real-time feedback on a person's health condition and are used to monitor chronic disease conditions.

Homecare Segment to Continue to Dominate the Wearable Patches Market

Remote healthcare monitoring provides an efficient and cost-effective alternative to on-site clinical monitoring and allows the patient to continue to stay at home and prevent costly treatments from hospitals, clinics, or other nursing homes.

China dominated the Asia-Pacific wearable patches market in 2022 with a share of 23.10%.

The China wearable patches market is driven by factors such as an increase in the prevalence of chronic disease. Moreover, other factors, such as the rising technological advancements in connected care and the growing demand for remote patient monitoring, are also expected to drive the growth of the market in China.

Recent Developments in the Global Wearable Patches Market

Business Dynamics

Business Drivers

Business Restraints

Business Opportunities

Key Trends

Global Market Scenario

Industry Outlook

Patent Analysis

Impact of COVID-19

Competitive Benchmarking and Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/pdsw7t

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected] 

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets


These press releases may also interest you

at 03:45
PCs will be the main driver of growth in the AI edge processor market over the next four years, according to new research from Omdia. This was among the results announced by Omdia in the 2023 edition of its AI Processors for the Edge Forecast, which...

at 03:01
SolarBank Corporation (Cboe CA: SUNN) ("SolarBank" or the "Company") reports second quarter 2024 interim financial results. All financial figures are in Canadian dollars and in accordance with International...

at 02:00
Centamin will announce its audited financial results for the twelve months ended 31 December 2023 on Thursday, 21 March 2024.The Company will host a webcast presentation on the same day, at 08.30 GMT, to discuss the results with investors and...

at 01:05
Teck Resources Limited (Teck) today announced its unaudited fourth quarter results for 2023. "We had strong fourth quarter performance across our business, generating adjusted EBITDA1 of $1.7 billion in the quarter, returning cash to shareholders...

at 00:25
DMG Blockchain Solutions Inc. ("DMG"), a vertically integrated blockchain and data center technology company, today announces its fiscal first quarter 2024 financial results. All financial references are in Canadian Dollars unless specified...

at 00:01
ATTOM, a leading curator of land, property, and real estate data, today released a special report on U.S. Commercial Foreclosures. The report reveals a significant climb in commercial foreclosures over the years, from a low of 141 in May 2020 to the...



News published on and distributed by: