Global Wearable Skin Patch Market Set to Grow at Healthy CAGR forecast by 2026

Posted by ganesha on February 6th, 2020

This Wearable Skin Patch Market report has been prepared with the thorough market analysis carried out by a team of industry experts, dynamic analysts, skilful forecasters and well-informed researchers. This market research report is very crucial in several ways for business growth and to thrive in the market. Competitive analysis is the major feature of any market research report, and hence Wearable Skin Patch Market report covers many points including strategic profiling of key players in the market, analyse core competencies of key players, and draw a competitive landscape for the Medical Devices  industry. This market report gives an edge to compete and to outdo the competition.

Global wearable skin patch market is registering a healthy CAGR in the forecast period of 2019-2026. This rise in the market can be attributed to the rise in number of lifestyle diseases and awareness of healthy lifestyle and rising number of elderly population.  

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Market Definition: Global Wearable Skin Patch Market

Wearable skin patches are patches that have been attached to the skin for a certain period of time and are used in therapy and medication. They are used both in the delivery of drugs, patient monitoring and in athletics. Skin patches are unique as they stick to one location without any motion interference and assist to record accurate information. These patches are connected with most mobile operating systems and can also be readily connected via Bluetooth, making them an alternative to other health surveillance devices such as fitness bands and watches.

Market Drivers

• Affordable price of the product drives the market growth
•  Surging preference for wearable patches in the cosmetic industry is flourishing the market growth
• increasing preference for healthy lifestyle is driving the growth of the market
• Easy connectivity with smartphones and computing devices are helping to grow this market

Market Restraints

• trust issues of patients regarding wearable patches hinders the market growth
• Integration of sensors in computing devices and various accessories hampers the market growth

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Segmentation: Global Wearable Skin Patch Market

By Technology

• Regular Wearable
• Connected Wearable

By Application

• Clinical applications
• Non-Clinical Applications

Key Developments in the Market:

• In January 2019, L’Oréal had launched its prototype of My Skin Track pH which measures the ph level of the skin which helps to determine the ph level of skin whether it is balanced or not. It uses the microfluidic technology by using quantity of sweat from skin pores through a network of micro-channels which provides a precise pH reading in 15 minutes. This launch had expand the product portfolio of the company and positioned it as a market leader
• In October 2018, VivaLNK has partnered with Reckitt Benckiser for distribution and supply of wearable continuous temperature monitor worldwide. The Nurofen FeverSmart and Enfasmart FeverSense are manufactured for parents who wish to track temperature changes in their child for immediate action after detection of a fever. The launch will product market and expand their customer base globally

Competitive Analysis:

Global Wearable Skin Patch Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of wearable skin patch market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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