Global Wearable Patch Market Opportunities and Detailed Industry Analysis – BioSpace

February 7, 2022 by No Comments

Wearable patch is a gadget that monitors and diagnoses the illness as well as sports activities accompanied by drug delivery. Rise in technological advances and innovations made by reputed organizations such as, Stanford University and L’Oréal have increased the demand for wearable patches which has ultimately boosted the growth of wearable patch market.

Rapid urbanization and fast paced life have affected the health of the masses and especially the geriatric population. These aspects have led to innovation of smart solutions for detecting and monitoring health concerns. Furthermore, wearable patches can monitor and diagnose the ailment along with drug delivery. All these factors are conducive for the growth of wearable patch market.

The wearable patches are gadgets in form of smart watches and fitness bands which can be used conveniently and also offer accurate measurement. These patches can be easily connected to Bluetooth and mobile devices. Furthermore, due to its user-friendly interface the wearable can be utilized efficiently and easily. Apart from this, the wearable patches have also gained popularity due to its rising demand in cosmetic industry. All these factors have contributed toward the growth of wearable patch market.

The wearable patches are preferred by health-conscious population mostly by athletes, working individuals, and many others. In addition, they eliminate the need for doctor’s consultation as it remotely monitors the health of individuals. Furthermore, the need for health monitoring is growing owing to the health awareness among people and the increase in geriatric population. All these factors have promoted the growth of wearable patch market.

The global wearable patch market is highly competitive and segmented into sports, healthcare, and fitness. The increase in use of wearable patches in these segments has augured the growth of wearable patch market. Taking into consideration the growing demand for wearable patches, the existing players and new entrants are looking out for opportunities to provide cost- effective and quality products through extensive R&D activities. The players are focusing on growth strategies such as product launches and strategic collaborations to capitalize the prevailing opportunities in the wearable patch market.

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Wearable Patch Market: Introduction

The rapid increase in lifestyle ailments, rising expenses of healthcare, and increasing number of elderly population have incited various medical insurance organizations and healthcare sector to innovate. For example, wearable patches that can monitor and diagnose the illnesses are witnessing innovation. Wearable patches screen patients as well as monitor their sports activities along with drug delivery.

Wearable Patch Market: Novel Development

  • A new device created by Stanford University specialists could make it simpler for the scientists to measure the success of blood vessel surgery. The sensor, mentioned in a paper published on 8th January in Nature Biomedical Engineering, screens the blood flowvia an artery. It is biodegradable, without remote or a battery. That gadget requires a reading by mounting an antenna on the sensors, like an ID card scanner. Later on, this gadget could come as a stick-on patch or wearable patch integrated with advanced technology, similar to a wearable gadget or cell phone.
  • Moreover, L’Oréal is conceptualizing to launch a UV Radiation Monitor, which will assist consumers with monitoring the measure of UV radiation absorbed by the body. This marks the usage of wearable patch in cosmetic industry as well.

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