Lucintel's latest market report analyzed that wearable patch provides attractive opportunities in the clinical and non-clinical applications. The wearable patch market is expected to reach $XX billion by 2028 with a CAGR of 6% to 8%. In this market, connected is the largest segment by product type, whereas clinical is largest by application. Growing adoption of telehealth, increasing prevalence of atrial fibrillation, and advent of remote patient monitoring provides strategic growth path in this market.
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Based on product type, the wearable patch market is segmented into connected and regular. The connected segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to the increasing prevalence of chronic diseases, rising demand for the wearable patch in developing countries, rapidly increasing aging population, and increasing prevalence of cardiovascular diseases.
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The Wearable Patch Market is marked by the presence of several big and small players. Some of the prominent players offering wearable patch include Abbott Laboratories, iRhythm Technologies, Johnson & Johnson Services, Koninklijke Philips N.V., L’Oreal, LifeSignals, Medtronic, Qualcomm Technologies, VitalConnect, and VivaLNK.
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