Product Code: BHM1714SS
Introduction to Europe Wearable Patches Market
The Europe wearable patches market was valued at $3.03 billion in 2022 and is expected to reach $7.85 billion by 2031, growing at a CAGR of 10.29% between 2023 and 2031. The growing prevalence of chronic diseases such as diabetes and strokes, as well as the continuous monitoring of body vitals and little disruption to bodily activity, are driving the expansion of the wearable patches market in Europe. This expansion is also being fueled by technological developments and an aging population.
Market Introduction
KEY MARKET STATISTICS |
Forecast Period | 2023 - 2031 |
2023 Evaluation | $3.58 Billion |
2031 Forecast | $7.85 Billion |
CAGR | 10.29% |
Wearable patches are a game changer in healthcare technology, providing a compact and non-invasive alternative for monitoring numerous physiological parameters and delivering therapeutic interventions. These unique patches are designed to be worn comfortably on the skin while collecting, analyzing, and communicating real-time data with healthcare experts or individuals.
Market Segmentation:
Segmentation 1: by Usage Type
- Blood Glucose Patch
- Heart Rate and ECG Patch
- Temperature Patch
- TENS/EMS Patch
- Others
Segmentation 2: by Application
- Monitoring and Diagnostics
- Therapeutics
Segmentation 3: by End User
- Homecare
- Ambulatory Surgical Center
Segmentation 4: by Country
- Germany
- U.K.
- France
- Italy
- Spain
- Rest-of-Europe
How can this report add value to an organization?
Product/Innovation Strategy: The Europe wearable patches market has been extensively segmented on the basis of various categories, such as usage type, application, and end user. This can help readers get a clear overview of which segments account for the largest share and which ones are well-positioned to grow in the coming years.
Competitive Strategy: The Europe wearable patches market has both established as well as emerging companies offering wearable patches across a range of usage types. Key players in the Europe wearable patches market that are analyzed and profiled in the study involve established players that offer various kinds of wearable patches.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Key Companies Profiled:
Table of Contents
Executive Summary
Scope of the Study
Research Methodology
1. Markets
- 1.1. Market Outlook
- 1.1.1. Product Definition
- 1.1.2. Inclusion and Exclusion Criteria
- 1.1.3. Key Findings
- 1.1.4. Global Market Scenario
- 1.1.4.1. Realistic Growth Scenario
- 1.1.4.2. Optimistic Growth Scenario
- 1.1.4.3. Pessimistic Growth Scenario
- 1.2. Industry Outlook
- 1.2.1. Key Trends
- 1.2.1.1. Seamless Connectivity among Devices
- 1.2.1.2. Use of Wearable Patches to Improve Patient Healthcare Outcomes with Machine Learning Algorithms
- 1.2.1.3. Increase in Adoption of Wearable Patches for Homecare Settings
- 1.2.2. Technology Landscape
- 1.2.3. Product Benchmarking
- 1.2.4. Wearable Patch Material
- 1.2.5. Patent Analysis
- 1.2.5.1. Patent Publication Growth Trend
- 1.2.5.2. Patent Analysis (by Country/Cluster)
- 1.3. Impact of COVID-19
- 1.3.1. Rise in the Adoption of Wearable Patches
- 1.3.2. Data Collection and Saving of Medical Records
- 1.3.3. Impact on Market Size
- 1.3.3.1. Pre-COVID-19 Phase
- 1.3.3.2. During COVID-19 Phase
- 1.3.3.3. Post-COVID-19 Phase
- 1.4. Business Dynamics
- 1.4.1. Impact Analysis
- 1.4.2. Business Drivers
- 1.4.2.1. Continuous Monitoring and Minimum Interference with Body Movement for Measurement of Vital Signs of Patients
- 1.4.2.2. Increasing Prevalence of Chronic Disorders (Diabetes, Strokes, etc.)
- 1.4.2.3. Rising Technological Advancement (Increased Connectivity with Cellphones and Precise Data)
- 1.4.2.4. Growing Geriatric Population
- 1.4.3. Business Restraints
- 1.4.3.1. High Cost and Lack of Adequate Reimbursement Limiting the Adoption of Wearable Patches
- 1.4.3.2. Concerns Regarding Data Privacy and Security of the Data Collected from Wearable Patches
- 1.4.4. Business Opportunities
- 1.4.4.1. Having an End-to-End Platform for Services
- 1.4.4.2. AI Algorithms for Wearable Patches for Better Clinical Outcome
2. Europe
- 2.1. Europe
- 2.1.1. Key Finding and Opportunity Assessment
- 2.1.2. Regulatory Framework
- 2.1.3. Reimbursement Scenario
- 2.1.4. Market Dynamics
- 2.1.4.1. Impact Analysis
- 2.1.4.2. Market Drivers
- 2.1.4.3. Market Restraints
- 2.1.5. Market Sizing and Forecast
- 2.1.5.1. Europe Wearable Patches Market (by Application)
- 2.1.5.2. Europe Wearable Patches Market (by Usage Type)
- 2.1.5.3. Europe Wearable Patches Market (by End User)
- 2.1.5.4. Europe Wearable Patches Market (by Country)
- 2.1.5.4.1. Germany
- 2.1.5.4.1.1. Market Dynamics
- 2.1.5.4.1.1.1. Business Drivers
- 2.1.5.4.1.1.2. Business Restraints
- 2.1.5.4.1.2. Key Companies
- 2.1.5.4.1.3. Raw Material Supplying Companies
- 2.1.5.4.1.4. Pricing Trend
- 2.1.5.4.1.5. Recent Developments
- 2.1.5.4.1.6. Units Sold
- 2.1.5.4.1.7. Market Sizing and Forecast
- 2.1.5.4.1.7.1. Germany Wearable Patches Market (by Application)
- 2.1.5.4.1.7.2. Germany Wearable Patches Market (by End User)
- 2.1.5.4.1.7.3. Germany Wearable Patches Market (by Usage Type)
- 2.1.5.4.2. France
- 2.1.5.4.2.1. Market Dynamics
- 2.1.5.4.2.1.1. Business Drivers
- 2.1.5.4.2.1.2. Business Restraints
- 2.1.5.4.2.2. Key Companies
- 2.1.5.4.2.3. Raw Material Supplying Companies
- 2.1.5.4.2.4. Pricing Trend
- 2.1.5.4.2.5. Recent Developments
- 2.1.5.4.2.6. Units Sold
- 2.1.5.4.2.7. Market Sizing and Forecast
- 2.1.5.4.2.7.1. France Wearable Patches Market (by Application)
- 2.1.5.4.2.7.2. France Wearable Patches Market (by End User)
- 2.1.5.4.2.7.3. France Wearable Patches Market (by Usage Type)
- 2.1.5.4.3. U.K.
- 2.1.5.4.3.1. Market Dynamics
- 2.1.5.4.3.1.1. Business Drivers
- 2.1.5.4.3.1.2. Business Restraints
- 2.1.5.4.3.2. Key Companies
- 2.1.5.4.3.3. Raw Material Supplying Companies
- 2.1.5.4.3.4. Pricing Trend
- 2.1.5.4.3.5. Recent Developments
- 2.1.5.4.3.6. Units Sold
- 2.1.5.4.3.7. Market Sizing and Forecast
- 2.1.5.4.3.7.1. U.K. Wearable Patches Market (by Application)
- 2.1.5.4.3.7.2. U.K. Wearable Patches Market (by End User)
- 2.1.5.4.3.7.3. U.K. Wearable Patches Market (by Usage Type)
- 2.1.5.4.4. Italy
- 2.1.5.4.4.1. Market Dynamics
- 2.1.5.4.4.1.1. Business Drivers
- 2.1.5.4.4.1.2. Business Restraints
- 2.1.5.4.4.2. Key Companies
- 2.1.5.4.4.3. Raw Material Supplying Companies
- 2.1.5.4.4.4. Pricing Trend
- 2.1.5.4.4.5. Recent Developments
- 2.1.5.4.4.6. Units Sold
- 2.1.5.4.4.7. Market Sizing and Forecast
- 2.1.5.4.4.7.1. Italy Wearable Patches Market (by Application)
- 2.1.5.4.4.7.2. Italy Wearable Patches Market (by End User)
- 2.1.5.4.4.7.3. Italy Wearable Patches Market (by Usage Type)
- 2.1.5.4.5. Spain
- 2.1.5.4.5.1. Market Dynamics
- 2.1.5.4.5.1.1. Business Drivers
- 2.1.5.4.5.1.2. Business Restraints
- 2.1.5.4.5.2. Key Companies
- 2.1.5.4.5.3. Raw Material Supplying Companies
- 2.1.5.4.5.4. Pricing Trend
- 2.1.5.4.5.5. Units Sold
- 2.1.5.4.5.6. Market Sizing and Forecast
- 2.1.5.4.5.6.1. Spain Wearable Patches Market (by Application)
- 2.1.5.4.5.6.2. Spain Wearable Patches Market (by End User)
- 2.1.5.4.5.6.3. Spain Wearable Patches Market (by Usage Type)
- 2.1.5.4.6. Rest-of-Europe
- 2.1.5.4.6.1. Market Dynamics
- 2.1.5.4.6.1.1. Business Drivers
- 2.1.5.4.6.1.2. Business Restraints
- 2.1.5.4.6.2. Key Companies
- 2.1.5.4.6.3. Raw Material Supplying Companies
- 2.1.5.4.6.4. Pricing Trend
- 2.1.5.4.6.5. Recent Developments
- 2.1.5.4.6.6. Units Sold
- 2.1.5.4.6.7. Market Sizing and Forecast
- 2.1.5.4.6.7.1. Rest-of-Europe Wearable Patches Market (by Application)
- 2.1.5.4.6.7.2. Rest-of-Europe Wearable Patches Market (by End User)
- 2.1.5.4.6.7.3. Rest-of-Europe Wearable Patches Market (by Usage Type)
3. Market-Competitive Benchmarking and Company Profiles
- 3.1. Competitive Landscape
- 3.1.1. Regulatory and Legal Activities
- 3.1.2. New Offerings
- 3.1.3. Partnerships, Collaborations, and Business Expansions
- 3.1.4. Mergers and Acquisitions
- 3.1.5. Funding Activities
- 3.2. Company Profile
- 3.2.1. Established Companies
- 3.2.1.1. Bittium Corporation
- 3.2.1.1.1. Company Overview
- 3.2.1.1.2. Role of Bittium Corporation in the Wearable Patches Market
- 3.2.1.1.3. Financials
- 3.2.1.1.4. Recent Developments
- 3.2.1.1.5. Analyst Perspective
- 3.2.1.2. Koninklijke Philips N.V.
- 3.2.1.2.1. Company Overview
- 3.2.1.2.2. Role of Koninklijke Philips N.V. in the Wearable Patches Market
- 3.2.1.2.3. Product Portfolio
- 3.2.1.2.4. Financials
- 3.2.1.2.5. Recent Developments
- 3.2.1.2.6. Analyst Perspective
- 3.2.1.3. Medtronic plc
- 3.2.1.3.1. Company Overview
- 3.2.1.3.2. Role of Medtronic plc in the Wearable Patches Market
- 3.2.1.3.3. Financials
- 3.2.1.3.4. Recent Developments
- 3.2.1.3.5. Analyst Perspective