Global Smart Patch Market – Analysis and Forecast (2021-2027)

Industry Insights by Type (Transdermal Transmission, Electronic Stimulation, Monitoring), by Technology (Connected, Regular), by Application (Clinical, Non-Clinical), and by Geography (U.S., Canada, Germany, U.K., France, China, Japan, India, and Rest of the World)

Industry Overview

The global smart patch market is growing at a CAGR of 21.4% during 2021-2027. The global smart patch market is growing at a significant rate, due to the escalating occurrence of chronic and lifestyle associated diseases, expanding inclination towards personal fitness, and expanding the geriatric population. Different applications such as clinical and non-clinical contributed to the smart patch market size. The market has witnessed a high demand for clinical application in the coming years due to escalating acceptance of smart patch to track and observe health.

Market Segmentation

Insight by Type

On the basis of type, the global smart patch market is subdivided into transdermal transmission, electronic stimulation, and monitoring. Of all types, the transdermal transmission segment accounted for the largest share in the market in 2020.

Insight by Technology

On the basis of technology, the global smart patch market is subdivided into connected and regular. Of all technologies, a regular segment is expected to grow at a substantial rate in the market during the forecast period, due to the mounting consumption of the patches for the clinical applications.

Industry Dynamics

Industry Trends

Mounting adoption of a healthy lifestyle and escalation adoption of cloud technology in healthcare are the trends in the smart patch market.

Global Smart Patch Market Report Coverage

Growth Drivers

The mounting occurrence of chronic and lifestyle associated diseases, escalating healthcare expenditure, mounting healthcare spending, and expanding inclination towards personal fitness are the primary growth drivers for the smart patch market. For instance, according to the International Diabetes Federation (IDF) in 2017, globally approximately 352 million people were at risk of developing type II diabetes.

Mounting disposable income, rising number of smartphone users, escalating importance for point-of-care technologies, and rising geriatric population is also facilitating the growth for the smart patch market. For instance, according to the World Health Organization (WHO), globally in 2010 approximately 524 million people were aged 65 years and older and is expected to reach 1.5 billion in 2050.

Challenges

Elevated cost, extensive course of governmental approvals and deferral in novel product launch, design complexity, a dearth of data security, and the dearth of alertness are the major challenges for the growth of the smart patch market.

Opportunities

Technologically advance smart patch, emerging economies such as China and India, and escalation alertness regarding the innovative health solutions are the opportunities for the global smart patch market. For instance, approximately 60% of the U.S. adults track their health indicators such as diet, weight, and exercise routine.

Geographic Overview

Geographically, North America is the largest smart patch market in 2020 as in the region the occurrence of chronic and lifestyle associated diseases is escalating. For instance, according to the Centers for Disease Control and Prevention (CDC), in 2015 approximately 23.1 million people in the U.S. had diabetes.

In addition, expanding research and development activities, escalating the need for monitoring devices, and mounting the geriatric population is also up surging growth of the North American smart patch market. For instance, according to the U.S. Census Bureau, in 2012 approximately 43.1 million people were aged 65 years and older in the U.S. and is expected to reach 83.7 million in 2050.

Asia-Pacific is observed to witness the fastest growth in the market, due to the mounting occurrence of chronic and lifestyle associated diseases and escalating acceptance of smartphones. In addition, expanding the geriatric population, urbanization, and mounting healthcare spending are also creating a positive impact on the smart patch market growth in the region.

Competitive Insight

Key players in the smart patch market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. In October 2019, Abbott Laboratories partnered with Omada Health, to integrate Abbott’s FreeStyle Libre system with Omada Health’s digital care program. In addition, in July 2019, BioTelemetry, Inc., acquired ADEA Medical AB, to increase its geographic exposure and product offerings to physicians and patients in Europe. 

BioTelemetry, Inc., MC10, Inc., Insulet Corporation, Abbott Laboratories, Isansys Lifecare Ltd., iRhythm Technologies, DexCom, Inc., Kenzen, Medtronic plc, and Gentag are the key players offering smart patch.

Primary Research

VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry includes, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads, and Others. Also, end-user surveys comprising of consumers are also conducted to understand consumer behaviour.

The Smart Patch Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2021–2027.

Global Smart Patch Market Coverage

• By Type
  • Transdermal Transmission
  • Electronic Stimulation
  • Monitoring
• By Application
  • Clinical
  • Non-Clinical
• By Technology
  • Connected
  • Regular

Smart Patch Market by Region

• North America
  • By Type
  • By Application
  • By Technology
  • By Country – U.S., Canada, and Mexico
• Europe
  • By Type
  • By Application
  • By Technology
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe
• Asia-Pacific (APAC)
  • By Type
  • By Application
  • By Technology
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific
• Rest of the World (RoW)
  • By Type
  • By Application
  • By Technology
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries

Source: VynZ Research

Source: VynZ Research

1.    Research Overview

        1.1.    The Report Offers
        1.2.    Market Coverage
                1.2.1.    By Type
                1.2.2.    By Application 
                1.2.3.    By Technology
                1.2.4.    By Region
        1.3.    Research Phases
        1.4.    Limitations
        1.5.    Research Methodology
                1.5.1.    Data Sources
                        1.5.1.1.    Primary Research
                        1.5.1.2.    Secondary Research
                1.5.2.    Methodology
                        1.5.2.1.    Data Exploration
                        1.5.2.2.    Forecast Parameters
                        1.5.2.3.    Data Validation
                        1.5.2.4.    Assumptions
                1.5.3.    Study Period & Data Reporting Unit

2.    Executive Summary

3.    Industry Overview

        3.1.    Industry Dynamics
                3.1.1.    Market Growth Drivers
                3.1.2.    Market Restraints
                3.1.3.    Key Market Trends
                3.1.4.    Major Opportunities
        3.2.    Industry Ecosystem
                3.2.1.    Porter’s Five Forces Analysis
                3.2.2.    Recent Development Analysis
                3.2.3.    Value Chain Analysis
        3.3.    Competitive Insight
                3.3.1.    Competitive Position of Industry Players
                3.3.2.    Market Attractive Analysis

4.    Global Market Estimate and Forecast

        4.1.    Global Market Overview
        4.2.    Global Market Estimate and Forecast to 2027

5.    Market Segmentation Estimate and Forecast

        5.1.    By Type
                5.1.1.    Transdermal Transmission
                        5.1.1.1.    Market Definition
                        5.1.1.2.    Market Estimation and Forecast to 2027
                5.1.2.    Electronic Stimulation 
                        5.1.2.1.    Market Definition
                        5.1.2.2.    Market Estimation and Forecast to 2027
                5.1.3.    Monitoring
                        5.1.3.1.    Market Definition
                        5.1.3.2.    Market Estimation and Forecast to 2027
        5.2.    By Application 
                5.2.1.    Clinical
                        5.2.1.1.    Market Definition
                        5.2.1.2.    Market Estimation and Forecast to 2027
                5.2.2.    Non-Clinical
                        5.2.2.1.    Market Definition
                        5.2.2.2.    Market Estimation and Forecast to 2027
        5.3.    By Technology
                5.3.1.    Connected
                        5.3.1.1.    Market Definition
                        5.3.1.2.    Market Estimation and Forecast to 2027
                5.3.2.    Regular
                        5.3.2.1.    Market Definition
                        5.3.2.2.    Market Estimation and Forecast to 2027

6.    North America Market Estimate and Forecast

        6.1.    By Type
        6.2.    By Application 
        6.3.    By Technology
        6.4.    By Country
                6.4.1.    U.S. Market Estimate and Forecast
                6.4.2.    Canada Market Estimate and Forecast
                6.4.3.    Mexico Market Estimate and Forecast

7.    Europe Market Estimate and Forecast

        7.1.    By Type
        7.2.    By Application 
        7.3.    By Technology
        7.4.    By Country
                7.4.1.    Germany Market Estimate and Forecast
                7.4.2.    France Market Estimate and Forecast
                7.4.3.    U.K. Market Estimate and Forecast
                7.4.4.    Italy Market Estimate and Forecast
                7.4.5.    Spain Market Estimate and Forecast
                7.4.6.    Russia Market Estimate and Forecast
                7.4.7.    Rest of Europe Market Estimate and Forecast

8.    Asia-Pacific Market Estimate and Forecast

        8.1.    By Type
        8.2.    By Application 
        8.3.    By Technology
        8.4.    By Country 
                8.4.1.    China Market Estimate and Forecast
                8.4.2.    Japan Market Estimate and Forecast
                8.4.3.    India Market Estimate and Forecast
                8.4.4.    South Korea Market Estimate and Forecast
                8.4.5.    Rest of Asia-Pacific Market Estimate and Forecast

9.    Rest of the World (RoW) Market Estimate and Forecast

        9.1.    By Type
        9.2.    By Application 
        9.3.    By Technology
        9.4.    By Country
                9.4.1.    Brazil Market Estimate and Forecast
                9.4.2.    Saudi Arabia Market Estimate and Forecast
                9.4.3.    South Africa Market Estimate and Forecast
                9.4.4.    U.A.E. Market Estimate and Forecast
                9.4.5.    Other Countries Market Estimate and Forecast

10.    Company Profiles

        10.1.    BioTelemetry, Inc.
                10.1.1.    Snapshot
                10.1.2.    Overview
                10.1.3.    Offerings
                10.1.4.    Financial Insight
                10.1.5.    Recent Developments
        10.2.    MC10, Inc.
                10.2.1.    Snapshot
                10.2.2.    Overview
                10.2.3.    Offerings
                10.2.4.    Financial Insight
                10.2.5.    Recent Developments
        10.3.    Insulet Corporation
                10.3.1.    Snapshot
                10.3.2.    Overview
                10.3.3.    Offerings
                10.3.4.    Financial Insight
                10.3.5.    Recent Developments
        10.4.    Abbott Laboratories
                10.4.1.    Snapshot
                10.4.2.    Overview
                10.4.3.    Offerings
                10.4.4.    Financial Insight
                10.4.5.    Recent Developments
        10.5.    Isansys Lifecare Ltd.
                10.5.1.    Snapshot
                10.5.2.    Overview
                10.5.3.    Offerings
                10.5.4.    Financial Insight
                10.5.5.    Recent Developments
        10.6.    iRhythm Technologies
                10.6.1.    Snapshot
                10.6.2.    Overview
                10.6.3.    Offerings
                10.6.4.    Financial Insight
                10.6.5.    Recent Developments
        10.7.    DexCom, Inc.
                10.7.1.    Snapshot
                10.7.2.    Overview
                10.7.3.    Offerings
                10.7.4.    Financial Insight
                10.7.5.    Recent Developments
        10.8.    Kenzen
                10.8.1.    Snapshot
                10.8.2.    Overview
                10.8.3.    Offerings
                10.8.4.    Financial Insight
                10.8.5.    Recent Developments
        10.9.    Medtronic plc
                10.9.1.    Snapshot
                10.9.2.    Overview
                10.9.3.    Offerings
                10.9.4.    Financial Insight
                10.9.5.    Recent Developments
        10.10.    Gentag
                10.10.1.    Snapshot
                10.10.2.    Overview
                10.10.3.    Offerings
                10.10.4.    Financial Insight
                10.10.5.    Recent Developments

11.    Appendix

        11.1.    Exchange Rates
        11.2.    Abbreviations

Note: Financial insight and recent developments of different companies are subject to availability of information in secondary domain.

List of Tables

Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Global Smart Patch Market Size, by Type, 2015–2020 (USD Million)
Table 5 Global Smart Patch Market Size, by Type, 2021–2027 (USD Million)
Table 6 Global Smart Patch Market Size, by Application, 2015–2020 (USD Million)
Table 7 Global Smart Patch Market Size, by Application, 2021–2027 (USD Million)
Table 8 Global Smart Patch Market Size, by Technology, 2015–2020 (USD Million)
Table 9 Global Smart Patch Market Size, by Technology, 2021–2027 (USD Million)
Table 10 Global Smart Patch Market Size, by Region, 2015–2020 (USD Million)
Table 11 Global Smart Patch Market Size, by Region, 2021–2027 (USD Million)
Table 12 North America Smart Patch Market Size, by Type, 2015–2020 (USD Million)
Table 13 North America Smart Patch Market Size, by Type, 2021–2027 (USD Million)
Table 14 North America Smart Patch Market Size, by Application, 2015–2020 (USD Million)
Table 15 North America Smart Patch Market Size, by Application, 2021–2027 (USD Million)
Table 16 North America Smart Patch Market Size, by Technology, 2015–2020 (USD Million)
Table 17 North America Smart Patch Market Size, by Technology, 2021–2027 (USD Million)
Table 18 North America Smart Patch Market Size, by Country, 2015–2020 (USD Million)
Table 19 North America Smart Patch Market Size, by Country, 2021–2027 (USD Million)
Table 20 Europe Smart Patch Market Size, by Type, 2015–2020 (USD Million)
Table 21 Europe Smart Patch Market Size, by Type, 2021–2027 (USD Million)
Table 22 Europe Smart Patch Market Size, by Application, 2015–2020 (USD Million)
Table 23 Europe Smart Patch Market Size, by Application, 2021–2027 (USD Million)
Table 24 Europe Smart Patch Market Size, by Technology, 2015–2020 (USD Million)
Table 25 Europe Smart Patch Market Size, by Technology, 2021–2027 (USD Million)
Table 26 Europe Smart Patch Market Size, by Country, 2015–2020 (USD Million)
Table 27 Europe Smart Patch Market Size, by Country, 2021–2027 (USD Million)
Table 28 Asia-Pacific Smart Patch Market Size, by Type, 2015–2020 (USD Million)
Table 29 Asia-Pacific Smart Patch Market Size, by Type, 2021–2027 (USD Million)
Table 30 Asia-Pacific Smart Patch Market Size, by Application, 2015–2020 (USD Million)
Table 31 Asia-Pacific Smart Patch Market Size, by Application, 2021–2027 (USD Million)
Table 32 Asia-Pacific Smart Patch Market Size, by Technology, 2015–2020 (USD Million)
Table 33 Asia-Pacific Smart Patch Market Size, by Technology, 2021–2027 (USD Million)
Table 34 Asia-Pacific Smart Patch Market Size, by Country, 2015–2020 (USD Million)
Table 35 Asia-Pacific Smart Patch Market Size, by Country, 2021–2027 (USD Million)
Table 36 RoW Smart Patch Market Size, by Type, 2015–2020 (USD Million)
Table 37 RoW Smart Patch Market Size, by Type, 2021–2027 (USD Million)
Table 38 RoW Smart Patch Market Size, by Application, 2015–2020 (USD Million)
Table 39 RoW Smart Patch Market Size, by Application, 2021–2027 (USD Million)
Table 40 RoW Smart Patch Market Size, by Technology, 2015–2020 (USD Million)
Table 41 RoW Smart Patch Market Size, by Technology, 2021–2027 (USD Million)
Table 42 RoW Smart Patch Market Size, by Country, 2015–2020 (USD Million)
Table 43 RoW Smart Patch Market Size, by Country, 2021–2027 (USD Million)
Table 44 Snapshot – BioTelemetry, Inc.
Table 45 Snapshot – MC10, Inc.
Table 46 Snapshot – Insulet Corporation
Table 47 Snapshot – Abbott Laboratories
Table 48 Snapshot – Isansys Lifecare Ltd.
Table 49 Snapshot – iRhythm Technologies
Table 50 Snapshot – DexCom, Inc.
Table 51 Snapshot – Kenzen
Table 52 Snapshot – Medtronic plc
Table 53 Snapshot – Gentag

List of Figures

Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Sources for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9 Global Smart Patch Market - Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global Smart Patch Market Highlight
Figure 12 Global Smart Patch Market Size, by Type, 2015–2027 (USD Million)
Figure 13 Global Smart Patch Market Size, by Application, 2015–2027 (USD Million)
Figure 14 Global Smart Patch Market Size, by Technology, 2015–2027 (USD Million)
Figure 15 Global Smart Patch Market Size, by Region, 2015–2027 (USD Million)
Figure 16 North America Smart Patch Market Highlight
Figure 17 North America Smart Patch Market Size, by Type, 2015–2027 (USD Million)
Figure 18 North America Smart Patch Market Size, by Application, 2015–2027 (USD Million)
Figure 19 North America Smart Patch Market Size, by Technology, 2015–2027 (USD Million)
Figure 20 North America Smart Patch Market Size, by Country, 2015–2027 (USD Million)
Figure 21 Europe Smart Patch Market Highlight
Figure 22 Europe Smart Patch Market Size, by Type, 2015–2027 (USD Million)
Figure 23 Europe Smart Patch Market Size, by Application, 2015–2027 (USD Million)
Figure 24 Europe Smart Patch Market Size, by Technology, 2015–2027 (USD Million)
Figure 25 Europe Smart Patch Market Size, by Country, 2015–2027 (USD Million)
Figure 26 Asia-Pacific Smart Patch Market Highlight
Figure 27 Asia-Pacific Smart Patch Market Size, by Type, 2015–2027 (USD Million)
Figure 28 Asia-Pacific Smart Patch Market Size, by Application, 2015–2027 (USD Million)
Figure 29 Asia-Pacific Smart Patch Market Size, by Technology, 2015–2027 (USD Million)
Figure 30 Asia-Pacific Smart Patch Market Size, by Country, 2015–2027 (USD Million)
Figure 31 RoW Smart Patch Market Highlight
Figure 32 RoW Smart Patch Market Size, by Type, 2015–2027 (USD Million)
Figure 33 RoW Smart Patch Market Size, by Application, 2015–2027 (USD Million)
Figure 34 RoW Smart Patch Market Size, by Technology, 2015–2027 (USD Million)
Figure 35 RoW Smart Patch Market Size, by Country, 2015–2027 (USD Million)