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HomeBusinessWearable Patch Market Will Reach USD27,820.5 Million By 2027: Valuates Reports

Wearable Patch Market Will Reach USD27,820.5 Million By 2027: Valuates Reports

17 March 2021: The Wearable Patch Market is Segmented by Product (Temperature Patch, Blood Glucose Patch, Blood Pressure Patch, Heart Rate Patch & ECG Patch, Skin Care Patch, and Others) and End Use (Healthcare and FSS and Sports). This report covers Global Opportunity Analysis and Industry Forecast from 2020 to 2027. This report is published on Valuates Reports in the Medical Devices & Equipment Category.

The global Wearable Patch Market size was valued at USD 12,239.7 Million in 2019 and is projected to reach USD 27,820.5 Million by 2027, registering a CAGR of 9.6% from 2020 to 2027.

Major factors driving the growth of the wearable patch market size are :
# Rise in technological advancements in wearable patches, continuous monitoring of patients, precise data, minimal interference with physical movements and easier connectivity with smartphones propels the wearable patch market.
# Increase in prevalence of chronic diseases and growing awareness among consumers regarding wearable patches.

One of the main factors driving the wearable patch market size is the growing prevalence of lifestyle diseases and chronic medical ailments such as diabetes, cardiovascular diseases (CVDs) and hyperglycemia. Furthermore, increasing health awareness among the general public is boosting the market growth. Wearable patches aid in the early diagnosis of diseases and are also used to track sports activities through fitness bands, smart watches and HIS.

The increasing use of the wearable patch in the fitness and sports industry is expected to drive the growth of the wearable patch market size. For example, biosensors are designed to provide glucose monitoring features that enable athletes to understand the efficacy of their nutritional choices during training and competition. It informs athletes to take proper nutrition, fill their glycogen stores prior to the race and know when to replenish during the race to maintain athletic performance.

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