Global Wearable Patch market size to reach US$ 8.8 Bn by 2026 at a CAGR of 7.7%
Noida,Uttar Pradesh, India,Mar 31 2021 (WiredRelease) Report Ocean Pvt Ltd–:Increasing technological advancement in wearable patches and the continuous rise in spending on R&D are certain factors that are leading to market growth across the globe. Following these promising developments, the Global Wearable Patch Market is estimated to see healthy growth, pegged at a CAGR of around 7.7% throughout the forecast period 2020-2026. A new treatment approach has been initiated for skin cancer using the wearable patch. The researchers of the Purdue University developed a new design of bioresorbable silicon nanoneedles that are mainly built on a flexible, thin, and water-soluble medical film. The film serves as a temporary holder that can be lined along the soft, curvilinear surface of the skin through the insertion of the nanoneedles, supported by rapid, complete dissolution within a minute.
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The innovators developed a novel wearable patch with entirely miniaturized needles, facilitating discreet drug delivery through the skin to treat skin cancers. Uniquely, this patch is altogether dissolvable by body fluids in a programmable manner. The patch substrate is dissolved in a minute after introducing needles into the skin, supported by the steady dissolution of the silicon needles within the tissues in several months. The nanoneedles’ surface is designed with nanoscale pores and offers a large drug loading capacity, similar to those using traditional microneedles. The nanoneedles can deliver the chemotherapeutic drugs to focus on melanoma sites in a sustainable way. The silicon nanoneedles are dissolvable and biocompatible in tissue fluids, such that they can be resorbed entirely in the body in months in an innocuous manner.
The uniqueness of this technology evolves from the fact that the researchers used extremely small; however, the long-lasting silicon nanoneedles with refined angular tips that are can be easily penetrated the skin in a painless and minimally invasive manner. Less invasive topical chemotherapies have appeared as alternatives; however, their widespread uses have been impeded by both the rapidly dissolving behavior of polymers and the painful size of the microneedles used in the treatments. This novel wearable patch is expected to address the issues and offer an improved treatment experience for people dealing with melanoma. With the introduction of this novel patch, the demand for wearable patches are expected to increase in the near future.
Segmentation Overview of the Global Wearable Patch Market
The wearable patch market is segmented based on the technology, application, and end user. These major market segments are further categorized into various sub-segments to study the market in detail.
By Technology Outlook (Connected, Regular)
By Application Outlook (Monitoring, Drug Delivery, Diagnostics)
By End User Outlook (Healthcare, Fitness & Sports)
Key Players Insights
Medtronic Plc, iRhythm Technologies, Inc., AliveCor, Inc., Hill-Rom Holdings, Inc. (Welch Allyn), Vivalnk, Inc., Cardiac Insight Inc., VitalConnect, LifeSignals, Inc., L’oreal Group, Dexcom, Inc., GENTAG, Inc., Abbott Laboratories, and Koninklijke Philips N.V. among others, are some significant players included in the research study of the global wearable patch market.
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