Connected Wearable Patch Market: Introduction

  • Connected wearable patches are intended for clinical and non-clinical use. Moreover, these patches are used to monitor and diagnose cardiovascular, respiratory, and diabetes parameters.

Key Drivers and Opportunities of Global Connected Wearable Patch Market

  • Sedentary lifestyle and unhealthy diet lead to increase in prevalence of chronic diseases. Hence, rise in prevalence of chronic diseases is projected to boost the growth of the global market. According to the American Heart Association, an estimated 116.4 million adults in the U.S. had hypertension in 2019. An article published in the Diabetes Research and Clinical Practice stated that prevalence of diabetes was estimated at 9.3% globally in 2019 and it is likely to rise to 10.2% by 2030 and 10.9% by 2045.
  • Wearable patches are ease to use and carry, which leads to better patient compliance and increases adoption rate. Hence, rise in use of wearable patches is anticipated fuel the growth of the global market.
  • Increase in demand for integrated technologies owing to rise in awareness about Internet of Things and technological advancement is expected accelerate the growth of the global connected wearable patch market

Are you a Start-up willing to make it big in the Business? Grab an Exclusive PDF Brochure of Connected Wearable Patch Market Report

  • The shift from hospital care to home care is also likely to drive the global market. Industry players are engaged in the development of wearable products for home care for remote patient monitoring and health care application. For instance, VitalConnect offers the VitalPatch and VitalSolution for home care. This patch is used to monitor respiratory rate, heart rate variability, body temperature, and other parameters.
  • The geriatric population is more prone to chronic diseases such as cardiovascular and diabetes. Hence, increase in geriatric population is a major factor propelling the global market.
  • Emerging markets in regions such as Asia Pacific, Middle East & Arica, and Latin America offer significant opportunities in the global connected wearable patch market. Surge in geriatric population with various chronic diseases present lucrative opportunities in the global market. According to the National Heart Foundation of Australia, cardiovascular diseases (CVDs) is the major cause of death in Australia; in 2017, around 43,477 deaths were attributed to CVD in the country.
  • Moreover, the current coronavirus pandemic has induced health care organizations to focus on monitoring temperatures of infected or exposed patients. Usage of traditional thermometers for multiple patients creates a risk of infection. Blue Spark Technologies offers the TempTraq, a disposable temperature monitor, single use patch ideal for temperature monitoring in patients without the need of direct contact. Hence, rise in adoption of single use products presents lucrative opportunity in the global connected wearable patch market.

North America to Capture Major Share of Global Connected Wearable Patch Market

  • North America is projected to dominate the global connected wearable patch market during the forecast period. Introduction of new products, presence of key players, and high adoption rate of technologically advanced products are anticipated to boost the growth of the market in the region. In February 2020, Caretaker Medical introduced VivaLNK’s FDA-Cleared ECG Patch for its wireless patient monitoring platform.
  • Asia Pacific is expected to account for significant share of the market from 2020 to 2030. The market in the region is likely to grow at a rapid pace during the forecast period due to rise in awareness and emergence of telemedicine, increase in usage of technologically advanced products, and trend toward wearable medical technology.

Expanding Operations in Future? To Get the Perfect Launch Ask for a Custom Connected Wearable Patch Market Report

Key Players Operating in Global Connected Wearable Patch Market

The global connected wearable patch treatment market is highly consolidated due to the presence of small number of key players. Demand for integrated technology products has increased in emerging as well as developed markets owing to rise in awareness about Internet of Things. The key players focus on research & development in order to develop technological advanced products. Growth strategies adopted by these players is anticipated to fuel the growth of the global market. For instance, in March 2020, Biobeat received CE mark approval for Biobeat patch for measurement of cardiac output, blood pressure, stroke volume, etc. in long-term care, hospitals, home care, and clinics.

Major players operating in the global connected wearable patch treatment market are:

  • VitalConnect
  • Biobeat
  • LifeSignals
  • iRhythm Technologies, Inc.
  • Caretaker, LLC
  • Dexcom, Inc.
  • Blue Spark Technologies
  • Other Prominent Players

Global Connected Wearable Patch Market: Research Scope

Global Connected Wearable Patch Market, by Product

  • Cardiovascular
    • Heart Rate
    • Blood Pressure
    • Others
  • Respiratory
    • Oxygen Saturation
    • Respiratory rate
  • Diabetes
  • Others

 Global Connected Wearable Patch Market, by Application

  • Monitoring & Diagnosis
  • Health & Fitness
  • Others

Global Connected Wearable Patch Market, by End-user

  • Hospitals & Specialty Clinics
  • Home Care
  • Ambulatory Surgical Centers
  • Others

Global Connected Wearable Patch Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market

Note:Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.


Connected Wearable Patch Market

Pre Book