The global smart patches market was capitalized for USD 12,239.7 Million in 2019 and is estimated to reach USD 15,127 Million by the end of 2025, developing at a compound annual growth rate (CAGR) of over 6.2% during the forecast period 2019–2025. Smart patches are a kind of wearable sensor used in the medical industry.
Smart patches are a kind of wearable sensor used in the medical industry. They are applied to a patient's skin with an adhesive and feature a foam part and embedded electronics to monitor the patient's physiological signs such as their pulse.
Some of the key players in the market BioIntelliSence, Inc., iRhythm Technologies, Inc., BioTelemetry, Inc., Feeligreen, G-Tech Inc., GENTAG, Inc., The IONTO Team, Insulet Corporation, Tracxn Technologies, and VivaLNK, Inc.
Increase in incidences of chronic diseases to boost the global smart patches Market
The surge in the incidences of chronic diseases such as diabetes, asthma, COPD, Pneumonia, Chronic Bronchitis, and COVID-19 would help the industry to grow in the forecast period. According to the statistics given by Asthma and Allergy Foundation of America in 2019, approximately 25 million Americans are suffering from asthma. This is suggests that about 1 in 13 Americans, including 8 percent of adults and 7 percent of children suffer from asthma.
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The global smart patchesmarket is bifurcated on the basis of the type, technology, end-user and regional analysis. Based on the type the market is divided into Transdermal Transmission, Monitoring, and Electronic Stimulation. Based on the technology, market is divided into Connected and Regular. Furthermore, the market based on end user is divided into Clinical and Non-Clinical.
The Asia Pacific Region Expected to Witness fastest Growth inthe Global Smart patchesMarket
Based on geographical analysis, the global smart patchesmarket is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The growth of the smart patchesmarket across Asia Pacific is due to the presence of a higher pool of respiratory patients. Furthermore, the surge inhealthcare expenditure and new technological advancements will propel the growth of the industry in the region. Rising per capita income as well as growth in the middle-class population is expected to drive the growth of the market. In addition to this, the rise in theageing population prone to respiratory disorders in this region will boost the growth of the market.
“Smart patchesMarket - By Type (Transdermal Transmission, Monitoring, and Electronic Stimulation), By Technology (Connected and Regular), By End-User (Clinical and Non-Clinical), and By Region - Global Comprehensive Analysis, Forecast (2019-2025) ,Industry Perspective.
The global smart patchesmarket is segmented as follows:
- Transdermal Transmission
- Electronic Stimulation
By end user:
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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