Wearable Patch Market Valued at $8.6 Billion in 2024, Set for 22.1% CAGR Growth by 2032

The Rising Prevalence and Incidence of Chronic Diseases along with Technological Advancements and R&D Activities for the Improvement of Wearable Patch has boosted the market growth.

Global wearable patch market was valued at $8.6 billion in 2024, with a CAGR of 22.1% from 2024 to 2032.

A wearable patch helps to monitor blood glucose, heart rate & ECG, blood pressure, temperature, and more. Wearable patch sensors generate data continuously, without causing any interruptions to daily activity, and enhance self-monitoring compliance of the patient and improving the quality of patient care.

The rising prevalence and incidence of chronic diseases is booting the wearable patch market. For instance, according to the World Health Organization, the chronic disease had risen by 57% in 2020. According to the National Health Council, chronic diseases affect around 133 million Americans, representing more than 45% of the total population in 2018. According to the European Commission, Chronic diseases together account for over 86% of deaths in the European Union. Further, increasing regulatory approval of wearable patches is a key driving factor of the market. For instance, LifeSignals has received FDA clearance for its wireless LP1100 Life Signal Patch for enabling wearable healthcare monitoring devices. LP1100 Life Signal Patch is built on two solid technology. LP1100 LS Patch is a clinical-grade, two-lead ECG and heart rate monitoring patch, providing three days of monitoring with continuous wireless data transmission using two zinc-air batteries.

Blood Glucose Patch, Heart Rate Patch & ECG Patch, Blood Pressure Patch, Temperature Patch, and Others is the type segment of the market scope. By end-user, the market is divided into Hospital, Fitness and Sports, and Others. The report covers value of the global market by type and end-user.

Based on type, the blood glucose patch was dominating the wearable patch market in 2020 owing to the rising prevalence and incidence of diabetes. For instance, According to the IDF Diabetes Atlas, in 2019, approximately 463 million people around the world live with diabetes. The global population with diabetes is expected to increase by 48% to 628.6 million people for the year 2045. According to Diabetes UK, more than five million people will have diabetes in the UK by 2025. Moreover, increasing regulatory approval for blood glucose patches is driving the market demand.

Key regions of the global wearable patch market include North America, Europe, Asia Pacific, South America, and the Middle East and Africa. North America, further divided into the United States, Canada, and Mexico, leads due to advanced healthcare infrastructure and high adoption rates. Europe, including the United Kingdom, Germany, France, Italy, and the rest of Europe, benefits from a well-established healthcare system and a growing elderly population. The Asia Pacific, which includes India, China, Japan, South Korea, and the Rest of Asia Pacific, has significant growth potential, driven by a large population base and increasing healthcare expenditures. South America, divided into Brazil, Argentina, and the Rest of South America, experiences moderate growth, with Brazil at the forefront due to improved healthcare infrastructure. The Middle East and Africa, comprising GCC countries, Egypt, South Africa, and the rest of the Middle East and Africa, presents diverse opportunities and challenges, with high-income regions like the GCC showing robust growth while other areas face infrastructural limitations.

North America was dominating the wearable patch market in 2020 due to the rising prevalence of chronic diseases in North American regions. For instance, according to the Centers for Disease Control (CDC), in the U.S, diabetes had risen to an estimated 34.2 million in 2020. About 90% of people have Type 2 diabetes, and 8% of people with Type 1 diabetes, and 2% of people have rarer types of diabetes. In 2019, 48% of adults in the United States had some form of cardiovascular disease, and it is expected to be more than 130 million cases by 2035 in the U.S. Moreover, the development of new technologically advanced wearable patches is boosting the North American market.

Major players operating in the wearable patch industry include VivaLNK, Inc, Cardiac Insight Inc, VitalConnect, LifeSignals, Inc, GENTAG, Inc, Abbott Laboratories, Koninklijke Philips N.V., L’Oreal Group, Sensium Healthcare Ltd, Qualcomm Technologies, Inc, and Leaf Healthcare, Inc.

Rising investment by the companies for the development of the wearable patch, the partnership between companies to expand their presence and revenue for the wearable patch, and commercialization of regulatory approved wearable patch are some of the strategies adopted by the major companies.