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Global Wearable Patches Market Report 2022-2031: Lucrative Opportunities in Deployments of an End-to-End Platform for Services | ||
By: PR Newswire Association LLC. - 25 Jan 2023 | Back to overview list |
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DUBLIN, Jan. 25, 2023 /PRNewswire/ -- The "Wearable Patches Market - A Global and Regional Analysis: Focus on Usage Type, Application, End User, and Region - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
The global wearable patches market was valued at $8,650.0 million in 2021 and is projected to reach $26,892.7 million by the end of 2031. Furthermore, the market is anticipated to grow at a CAGR of 11.06% during the forecast period 2022-2031. The market is driven by factors such as the continuous monitoring and minimum interference with body movement for measurement of vital signs of patients, increasing prevalence of chronic disorders (diabetes, strokes, etc.), rising technological advancement (increased connectivity with cell phones and precise data), and growing geriatric population. The wearable patches market is in the developed phase. Having an end-to-end platform for services and AI algorithms for wearable patches for better clinical outcome are some of the major opportunities in the global wearable patches market. Impact of COVID-19 The COVID-19 pandemic impacted practically all sectors and social functions worldwide, including the wearable patches market. However, the wearable patches market sustained this impact as the demand for continuous monitoring with reduced contact increased during the pandemic. During this period of fast expansion, the industry has learned to be adaptable and versatile. The necessity to harness and use digital infrastructure for remote monitoring has been brought into stark relief by the COVID-19 outbreak. There is a need for further effective disease monitoring and detection of individual and public health, which might be facilitated by wearable sensors, as current viral testing and vaccines are less patient compliant. The application of this methodology toward predicting the probability of COVID-19 is still required, even though its value has been used to associate physiological measures with activities of daily existence and human performance. Users of wearable technology could receive alerts when changes in their parameters match those linked to COVID-19 when combined with predictive platforms. How can this report add value to an organization? Usage Type: The usage type segment helps the reader understand the different usage type of wearable patches available in the market. Moreover, the study provides the reader with a detailed understanding of products that fall under the main segments such as blood glucose patch, heart rate and ECG patch, temperature patch, TENS and EMS patch, and others. Growth/Marketing Strategy: The wearable patches market has witnessed major development by key players operating in the market, such as product launches, business expansions, partnerships, collaborations, merger and acquisitions, funding activities, and regulatory and legal approvals. The favored strategy for the companies has been business expansions, partnerships, and collaborations to strengthen their position in the market. For instance, in September 2022, Senseonics announced a collaboration with the University Hospitals Accountable Care Organization (UHACO) in Cleveland, Ohio. Competitive Strategy: The key players in the wearable patches market analyzed and profiled in the study involve established and emerging players that offer different products for wearable patches. Moreover, a detailed competitive benchmarking of the players operating in the wearable patches market has been done to help the reader understand the ways in which players stack against each other, presenting a clear market landscape. Moreover, comprehensive competitive strategies such as partnerships, agreements, collaborations, mergers, and acquisitions will help the reader understand the untapped revenue pockets in the market. Recent Developments in the Global Wearable Patches Market
Market Segmentation
Key Market Players and Competition Synopsis The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Company Profiles Established Companies
Emerging Companies
Key Topics Covered: 1 Markets 1.1 Global Market Outlook 2 Global Wearable Patches Market (by Application) 2.1 Opportunity Assessment 3 Global Wearable Patches Market (by Usage Type) 3.1 Opportunity Assessment 4 Global Wearable Patches Market (by End User) 4.1 Opportunity Assessment 5 Region 5.1 Key Finding and Opportunity Assessment 6 Market-Competitive Benchmarking and Company Profiles 6.1 Competitive Landscape For more information about this report visit https://www.researchandmarkets.com/r/dazwpo 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: Laura Wood | +353-1-481-1716 | press@researchandmarkets.net Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg View original content:https://www.prnewswire.com/news-releases/global-wearable-patches-market-report-2022-2031-lucrative-opportunities-in-deployments-of-an-end-to-end-platform-for-services-301729654.html SOURCE Research and Markets |
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