The North America Wearable Patch Market would witness market growth of 10.41% CAGR during the forecast period (2020-2026).
A wearable patch is alternately called electronic skin or smart patch. They are used to diagnosis, monitor diseases, and drug delivery. It is also helpful in maintaining the health of aging patients suffering from any chronic disease. The market is anticipated to show profitable growth, due to rising R&D investment for the advancement of wearable patches. A nicotine patch is useful in Nicotine Replacement Therapy (NRT), which helps in preventing smoking.
The main factor boosting the market is the growing prevalence of chronic diseases like atrial fibrillation and diabetes that are causing stroke incidents at a very higher rate, which is likely to drive the market in coming years. For instance, as per the International Diabetes Federation Report, about 463.0 million adults were suffering from diabetes across the globe. In addition to it, it is expected that about 700.0 million people may suffer from diabetes by the end 2045 all across the globe.
Similarly, the growing occurrence of atrial fibrillation is the key factor boosting the market. As per the American Heart Association Report, stroke is the prominent cause of death in the U.S., and about 2.7 million people in the country are already suffering from atrial fibrillation. It is also expected that every year, 800,000 cases of stroke has been recorded due to blockage in blood vessels.
Based on Technology, the market is segmented into Connected Wearable and Regular Wearable. Based on Application, the market is segmented into Non-Clinical and Clinical. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include DexCom, Inc., Abbott Laboratories, Koninklijke Philips N.V., Smith & Nephew PLC (Leaf Healthcare, Inc.), Qualcomm, Inc., L’Oreal Group, VivaLNK, Inc., Cardiac Insight, Inc., AliveCor, Inc. and LifeSignals Group, Inc.
Scope of the Study
Market Segments Covered in the Report:
• Connected Wearable
• Regular Wearable
• Rest of North America
• DexCom, Inc.
• Abbott Laboratories
• Koninklijke Philips N.V.
• Smith & Nephew PLC (Leaf Healthcare, Inc.)
• Qualcomm, Inc.
• L’Oreal Group
• VivaLNK, Inc.
• Cardiac Insight, Inc.
• AliveCor, Inc.
• LifeSignals Group, Inc.
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Medical Technology Density
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