Europe Wearable Patches Market Analysis and Forecasts, 2023-2031: Use of Wearable Patches to Improve Patient Healthcare Outcomes with Machine Learning Algorithms Gaining Momentum

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Jan 05, 2024, 12:15 ET

DUBLIN, Jan. 5, 2024 /PRNewswire/ -- The "Europe Wearable Patches Market - Analysis and Forecast, 2023-2031" report has been added to ResearchAndMarkets.com's offering.

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.

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.

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.

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:

Bittium Corporation
Koninklijke Philips N.V.
Medtronic plc

Key Topics Covered:

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
2.1.5.4.1.2 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
2.1.5.4.2 France
2.1.5.4.3 U.K.
2.1.5.4.4 Italy
2.1.5.4.5 Spain
2.1.5.4.6 Rest-of-Europe

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 Profiles

For more information about this report visit https://www.researchandmarkets.com/r/dapxhd

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