The nascent market for connected wearable patches holds great promise, with the potential to improve the health of patients and contribute to lower healthcare costs. It is, however, still very much in the early stages of development and commercial availability. Connected wearable patches face a variety of challenges that must be overcome in the next several years in order for the market to thrive.
Due to rising healthcare costs, the growth in the number of people with chronic diseases, and aging populations, governments, insurance companies, and care providers are searching for more cost-efficient ways to monitor, diagnose, and treat patients. While not a complete solution, connected wearable patches could help improve outcomes and are likely to be part of a broader remote monitoring ecosystem in the future. Early evidence indicates that connected wearable patches can help identify issues with patients before they increase in severity, and may decrease the time patients spend in hospitals. In the long term, connected wearable patches and the information they collect hold the promise of being able to impact populations and treatment in general. Tractica forecasts that unit shipments of connected wearable patches will reach 12.3 million annually by 2020.
This Tractica report examines the market trends, drivers and barriers, applications and use cases, technology issues, and key industry players for connected wearable patches within the clinical and non-clinical environments. It presents forecasts for unit shipments, revenues, ASPs, and segments/use cases during the period from 2014 through 2020. The report focuses on three main use cases for connected wearable patches: medical monitoring, detection, and diagnosis; medication management and treatment; and health, wellness, and prevention.
Key Questions Addressed:
•What is the current state of the connected wearable patches market from a medical and health/wellness perspective, and how will it develop over the next several years?
•What are the key applications and use cases for connected wearable patches?
•What type of growth rate can be expected for each use case and application?
•What is the global forecast for unit shipments and revenue, and how does the size of the market opportunity vary by world region?
•What are the key drivers of market growth and the key challenges faced by players in this space?
Who Needs This Report?
•Connected/smart patch developers
•Medical device, appliance, and equipment companies
•Semiconductor and component companies
•Health systems, payers, and provider networks
•Pharmaceutical and life sciences companies
•Remote patient monitoring companies