The global smart patch market was valued at US$ 8.6 billion in 2021. The global smart patch market is forecast to grow to US$ 15.3 billion by 2030 by growing at a Compound Annual Growth rate (CAGR) of ~6% during the forecast period from 2022 to 2030.
Smart patches help monitor the patient's health condition continuously. These sensor-enabled patches scan the body and share the data on the connected mobile phones.
Factors Influencing
Geographic Analysis
Due to growing awareness among the population, the global smart patch market is forecast to expand rapidly in North America. The increasing occurrence of chronic diseases, changes in lifestyle, and public inclination towards automated technologies are forecast to contribute to the growth of the region in the global smart patch market. Moreover, growing geriatric population leading to the increasing demand for monitoring devices would fuel the growth of the market.
The Asia-Pacific smart patch market would grow rapidly, owing to the growing cases of chronic, trending automation in the healthcare sector, increasing geriatric population, and growing adoption of smartphones. Apart from that, mounting healthcare spending in the Asia-Pacific region is forecast to benefit the global smart patch market during the study period.
COVID-19 Impact Analysis
The increasing cases of chronic diseases have fueled the demand for smart patches. Smart patches were adopted during the pandemic to obtain the data and continuously monitor the patient. Moreover, due to increasing awareness related to health, the COVID-19 pandemic is forecast to fuel the market growth during the study period. In addition, the COVID-19 epidemic raised the demand for automation in the healthcare sector. Various healthcare bodies adopted technologies to prevent excessive contact. Thus, the pandemic had a positive influence on the global smart patch market.
Competitors in the Market
Market Segmentation
Insight by Type
Insight by Technology
Insight by Region