Wearable patches can be attached to the skin or can be worn for a few hours to a couple of weeks. These patches are becoming popular and can be used for drug delivery, patient monitoring, and diagnosing purpose. These patches are also been used for the treatment and delivery of medication such as nicotine patches in Nicotine Replacement Therapy (NRT) and anti-aging patches. The connected wearable patches feature wireless connectivity in addition to the feature of regular wearable patches that help in monitoring the health of an individual and delivering drugs accordingly. Features such as continuous monitoring of patients' body activity coupled with precise data, minimal interference with body movements, and easy connectivity with the various smartphones are some of the pivotal factors that are expected to drive the growth of the market.

Market Dynamics

Increasing adoption of organic growth strategies, such as product launches by key players in the market to expand their product portfolio, is expected to drive the market growth over the forecast period. For instance, in May 2020, Philips, a health technology manufacturer, announced it had received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its wearable biosensor (Philips Biosensor BX100) to help manage confirmed and suspected COVID-19 patients in the hospital. The next-generation wireless wearable biosensor enhances clinical surveillance in the Philips patient deterioration detection solution to help clinicians detect risk so they can intervene earlier and help improve care for patients in lower acuity care areas.

Key features of the study:

• This report provides in-depth analysis of the global wearable patch market, and provides market size (US$ Million) and Compound Annual Growth Rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global wearable patch market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study are Medtronic Plc, Hill-Rom Holdings, Inc. (Welch Allyn), iRythm Technologies, Inc., AliveCor, Inc., Vivalnk, Inc., Cardiac Insight Inc., VitalConnect, LifeSignals, Inc., L’oreal Group, Dexcom, Inc., GENTAG, Inc., Abbott Laboratories, Koninklijke Philips N.V. and other prominent players.
• Insights from this report will allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global wearable patch market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global wearable patch market

Detailed Segmentation:

• Global Wearable Patch Market, By Technology:
  • Connected
  • Regular
• Global Wearable Patch Market, By Application:
  • Monitoring
  • Drug Delivery
  • Diagnostics
• Global Wearable Patch Market, By End User:
  • Healthcare
  • Fitness & Sports
• Global Infection Surveillance Market, By Region:
  • North America
    • By Country:
      • U.S.
      • Canada
  • Latin America
    • By Country:
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Europe
    • By Country:
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By Country
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
  • Middle East
    • By Country:
      • GCC
      • Israel
      • Rest of Middle East
  • Africa
    • By Country/Region:
      • South Africa
      • Central Africa
      • North Africa
• Company Profiles
  • Medtronic Plc*
    • Company Highlights
    • Products Portfolio
    • Key Highlights
    • Financial Performance
    • Strategies
  • Hill-Rom Holdings, Inc. (Welch Allyn)
  • iRythm Technologies, Inc.
  • AliveCor, Inc.
  • Vivalnk, Inc.
  • Cardiac Insight Inc.
  • VitalConnect
  • LifeSignals, Inc.
  • L’oreal Group
  • Dexcom, Inc.
  • GENTAG, Inc.
  • Abbott Laboratories
  • Koninklijke Philips N.V.

 “*” marked represents similar segmentation in other categories in the respective section.