Wearable Adhesive Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)
The “Wearable Adhesive Market” report offers qualitative and quantitative insights and a detailed analysis of market size & growth rate for all possible segments in the market. The Global Wearable Adhesive Industry presents a market overview, product details, classification, and market concentration. The report also provides an in-depth survey of key players in the market which is based on various competitive intelligence parameters like company profiles, product picture and specification, capacity, production, price, cost, revenue, and contact information. The Wearable Adhesive Market report provides an in-depth study of SWOT analysis i.e. Strength, Weakness, Opportunities, and Threat to the organization. Market Insights Report analysed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.
The wearable adhesive market was valued at USD 294.21 million in 2020 and is expected to reach USD 617.43 million by 2026, at a CAGR of 13.15% over the forecast period 2021 – 2026.
With the advent of wireless mobile technology in wearable sensors, healthcare professionals are able to remotely monitor a patients biometric data, such as blood pressure, heart rate, and blood glucose level.
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Key Players of Wearable Adhesive Market are: Koninklijke Philips N.V., Proteus Digital Health, Kenzen, Inc, Lief Therapeutics among others.
Industry News and Developments:
– May 2018 – MC10 Inc., the company developing wearable systems for seamless healthcare data collection, announced today that their BioStamp nPoint system has received Food and Drug Administration (FDA) 510(k) clearance.
– May 2019 – MC10 Inc. and AbbVie, a research-based global biopharmaceutical company, announced that the companies are working together on clinical trials designed to explore a range of outcome measures in patients with multiple sclerosis (MS) using the BioStamp nPoint system.
Key Market Trends
Sports and Fitness Wearables Demand to Augment the Market Growth
– The growing use of fitness tracking apps, rising demand for wireless and continuous health monitoring devices, increase in disposable income, and raising awareness about obesity are some of the factors driving the demand for wearables in sports and fitness applications.
– Moreover, an increase in product launches and integration and cross-compatibility of personal health and personal assistance are some of the key trends observed in the market. Also, an increasing sense of health consciousness is driving the demand for these products. Further, the integration of wearables and mobile apps for data extraction has increased the demand for sports and fitness wearables among fitness enthusiasts.
– With the increasing sales and shipments of sports and fitness wearables in the past few years, the same trend is expected to be followed for the coming years which is expected to drive the market forward.
North America Occupies the Largest Market Share
– The demand for these types of products in the North American region is growing owing to the increase in the obese population. Also, there has been an increase in the demand to produce monitoring devices, owing to the growing geriatric population and associated diseases with this age group. For instance, diabetes.
– Moreover, the need to curb healthcare expenditure related to chronic diseases is expected to drive the demand for wearable in this region. In addition, awareness among the public regarding these products is rapidly increasing owing to the presence of a significant number of players in this region is also one of the major factor which is expected to act as a driver for market growth.
– With the growing healthcare expenditure coupled with the increasing patient base and the increasing use of smartphones are some of the factors boosting the growth of the wearable adhesive market in this region.
Wearable Adhesive Market report studies the market in-depth and provides an all-inclusive analysis of the key growth factors, Wearable Adhesive market share, latest trends, key players, and their projections for the future. Also, Wearable Adhesive Market report provides growth rate, market demand, and supply, the market potential for each geographical region. The analysis provides an exhaustive investigation of the market along with the future projections to assess the investment feasibility. Furthermore, the report includes both quantitative and qualitative analyses of the Wearable Adhesive Market throughout the forecast period. This report analyses the impact of the COVID-19 on the Wearable Adhesive market share in the short and long term.
At the beginning of 2021, COVID-19 disease began to spread around the world, millions of people worldwide were infected with COVID-19 disease, and major countries around the world have implemented foot prohibitions and work stoppage orders. Except for the medical supplies and life support products industries, most industries have been greatly impacted, and Wearable Adhesive industries have also been greatly affected. With the slowdown in world economic growth, the Wearable Adhesive industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Wearable Adhesive market size to maintain the average annual growth rate of 15 from 2015 to 2021, in the next few years, Wearable Adhesive market size will be further expanded, we expect that by 2027.
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The Study Objectives of Wearable Adhesive Market Report Are:
- Focuses on the key Wearable Adhesive manufacturers, to study the sales, value, market share, and development plans in the future.
- Focuses on the global key manufacturers, to define, describe and analyze the market competition landscape, SWOT analysis.
- To define, describe and forecast the market by type, application, and region.
- To analyze the opportunities in the market for stakeholders by identifying the high-growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To identify significant market trends and factors driving or inhibiting the market growth.
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The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, and recent developments in both historic and present contexts. The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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