Technological advancements, rise in consumer awareness, and surge in prevalence of chronic diseases drive the growth of the global wearable patch market. The healthcare segment dominated the market in 2019. Moreover, the market across North America region held the highest share in terms of revenue in 2019, and would lead the trail throughout the forecast period.

Portland, OR, April 14, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied market Research, the global Wearable Patch Industry was pegged at $12.23 billion in 2019, and is anticipated to hit $27.82 billion by 2027, registering a CAGR of 9.6% from 2020 to 2027.

Download Sample Report at: https://www.alliedmarketresearch.com/request-sample/10723

Technological advancements, rise in consumer awareness, and surge in prevalence of chronic diseases drive the growth of the global wearable patch market. Conversely, expensive nature of sensor patch and issues regarding data privacy and security hamper the market growth. Nevertheless, rise in adoption of telehealth and demand for the connected wearable patches present lucrative opportunities in the near future.

Covid-19 Scenario

• Healthcare systems have been burdened due to outbreak of Covid-19 and adoption of telehealth has become essential. Wearable patches play a crucial part in monitoring health conditions of patients and people and sending their reports to medical professionals or doctors. This eliminates the need for hospital visits and reduces possibility of cross-contamination.

• Covid-infected patients and non-infected people can monitor their temperature levels and heart rates. This would help in tracking health conditions continuously and necessary steps can be taken in time if the health deteriorates.

• Owing to real-time monitoring, wearable patches can assist medical professionals in protecting patients with hypertension, coronary heart disease, and diabetes, who may be at high risks if infected with the coronavirus.

Enquiry for Short-term and Long-term Impacts of COVID-19 at: https://www.alliedmarketresearch.com/request-for-customization/10723?reqfor=covid

The wearable patch market is categorized into product, end use, and region. Based on product, the blood glucose patch segment accounted for the highest market share in 2019, with nearly half of the global wearable patch market, and is expected to maintain its leadership status during the forecast period. Conversely, the heart rate patch & ECG patch segment is projected to portray the largest CAGR of 11.3% from 2020 to 2027.

Based on end use, the healthcare segment held the lion’s share, with more than four-fifths of the global wearable patch market in 2019, and will lead the position throughout the forecast period. On the other hand, the fitness and sports segment is anticipated to maintain the highest CAGR of 10.9% from 2020 to 2027.

Based on region, the market is studied across numerous regions including Asia-Pacific, Europe, LAMEA, and North America. The North America held the highest share in terms of revenue in 2019, with more than two-fifths of the global wearable patch market, and will maintain its dominant position by 2027. On the other hand, the Asia-Pacific is estimated to manifest the fastest CAGR of 10.5% during the forecast period.

Leading market players profiled in the report include Abbott Laboratories, iRhythm Technologies, Inc., Johnson & Johnson Services, Inc., Koninklijke Philips N.V., L’Oreal Group, LifeSignals, Inc., Medtronic Plc (Zephyr Technology Corporation), Qualcomm Technologies, Inc., VitalConnect, Inc., and VivaLNK

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.

Similar Reports:

Healthcare App Market - Global Opportunity Analysis and Industry Forecast, 2020–2027

Medical Spa Market - Global Opportunity Analysis and Industry Forecast, 2019-2027

Smart Hospitals Market - Global Opportunity Analysis and Industry Forecast, 2019-2027

VR In Healthcare Market - Global Opportunity Analysis and Industry Forecast, 2019–2027

Organ-on-Chip Market - Global Opportunity Analysis and Industry Forecast, 2019–2027

Patient Monitoring Systems Market - Global Opportunity Analysis and Industry Forecast, 2019–2027

Surgical Equipment Market - Global Opportunity Analysis and Industry Forecast, 2019–2027

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

CONTACT: Contact: David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1(855)550-5975 help@alliedmarketresearch.com Web: https://www.alliedmarketresearch.com Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research