Wearable Patch Market Report by Technology (Connected, Regular), End Use (Healthcare, Fitness and Sports), and Region 2024-2032

Wearable Patch Market Report by Technology (Connected, Regular), End Use (Healthcare, Fitness and Sports), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A2778
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Market Overview 2024-2032:

The global wearable patch market size reached US$ 12.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 25.4 Billion by 2032, exhibiting a growth rate (CAGR) of 7.9% during 2024-2032.

Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023 US$ 12.5 Billion
Market Forecast in 2032 US$ 25.4 Billion
Market Growth Rate (2024-2032) 7.9%


Wearable patch refers to smart medical bandages worn on the body for disease monitoring, drug delivery, diagnosis and wellbeing of a patient. The patches consist of various electronic components, such as sensors, actuators and energy storage and communication systems. They collect data at regular intervals and transmit it to the connected smartphones or health information systems (HIS). Some of the commonly used wearable patches include sweat analyzing patches, pain-relieving patches, nicotine and alcohol detection patches and sensor patches for monitoring temperature, heart rate, blood glucose, blood pressure and oxygen levels. They are compact and flexible in nature and facilitate continuous or semi-continuous monitoring of physiological parameters and various complex electrocardiogram measurements without tethering the patient to the wired hub.

Wearable Patch Market

Global Wearable Patch Market Trends and Drivers:

The increasing prevalence of lifestyle diseases and chronic medical ailments, such as diabetes, cardiovascular diseases (CVDs) and hyperglycemia, represents one of the key factors driving the growth of the market. Furthermore, rising health consciousness among the masses is also strengthening the market growth. Wearable patches aid in the early diagnosis of ailments and are also used for tracking sports activities through fitness bands, smartwatches and HIS.

Various technological advancements, such as the development of personalized skin patches that monitor the individual’s exposure to ultraviolet (UV) rays, pollution, pollen and humidity, are acting as other growth-inducing factors. Product manufacturers are also developing innovative wearable cosmetic patches that can be used for melanoma therapies, including chemotherapy and radiotherapy. Other factors, including rising geriatric population and increasing healthcare expenditures and significant improvements in the healthcare infrastructure, especially in developing countries, are anticipated to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global wearable patch market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on technology and end use.

Breakup by Technology:

Wearable Patch Market By Technology

  • Connected
  • Regular
     

Breakup by End Use:

  • Healthcare
  • Fitness and Sports
     

Breakup by Region:

Wearable Patch Market By Region

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The global wearable patch market is highly fragmented with the presence of several small and large players competing in terms of price and quality. Some of the major players in the market are:

  • Abbott Laboratories
  • Delta Electronics Inc.
  • Gentag Inc.
  • Insulet Corp.
  • iRhythm Technologies Inc.
  • Kenzen Inc.
  • MTG UK Co. Ltd.
  • Nemaura Medical Inc.
  • UpRight Technologies Ltd.
     

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Technology, End Use, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Abbott Laboratories, Delta Electronics Inc., Gentag Inc., Insulet Corp., iRhythm Technologies Inc., Kenzen Inc., MTG UK Co. Ltd., Nemaura Medical Inc. and UpRight Technologies Ltd.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global wearable patch market was valued at US$ 12.5 Billion in 2023.

We expect the global wearable patch market to exhibit a CAGR of 7.9% during 2024-2032.

The sudden outbreak of the COVID-19 pandemic has led to increasing adoption of wearable patches for monitoring temperature, heart rate, blood glucose, blood pressure, and oxygen levels of the coronavirus-infected patients.

The introduction of wearable patches with advanced features that enable continuous monitoring of patients, along with the availability of precise data, minimal interference with body movements, and more effortless connectivity with smartphones, is primarily driving the global wearable patch market.

Based on the technology, the global wearable patch market can be bifurcated into connected and regular. Currently, connected exhibits a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global wearable patch market include Abbott Laboratories, Delta Electronics Inc., Gentag Inc., Insulet Corp., iRhythm Technologies Inc., Kenzen Inc., MTG UK Co. Ltd., Nemaura Medical Inc., UpRight Technologies Ltd, etc.

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Wearable Patch Market Report by Technology (Connected, Regular), End Use (Healthcare, Fitness and Sports), and Region 2024-2032
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