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Tractica Report Predicts Shipments Of Connected Wearable Patches To Touch 35.1 Million By 2022


11/15/2017


Tractica Report Predicts Shipments Of Connected Wearable Patches To Touch 35.1 Million By 2022
A latest research report estimates that wearable patch sale will see significant growth by 2022. The report which was prepared and released by Tractica estimates that the shipment of such wearables would reach a total of 35.1 million units every year by the year 2020.
 
Worn for a small period time – ranging from an hour to may be several weeks, patches, tattoos and even small devices are included in the connected wearable patch segment. These attachments are affixed to the skin. These wearables also typically have medical, health, or wellness aims usage which ranges from monitoring of physiological data that are used in diagnosis and medication and which are delivered to the intended receiver through a wireless system data transfer.
 
The rising awareness among people about the perceived benefits of such wearable patches that they can have for both to medical professionals and patients is expected to be the driver for the growth along with the increased availability of the such devices, says the report from Tractica.
 
“The market for connected wearable patches is still in the initial stages of development and commercial availability, but holds great promise, with the potential to improve the health of patients and contribute to lower healthcare costs”, says the report.
 
With the total revenues generated from such wearables reaching $7.9 billion by the end of 2022, the Tractica report forecasts that from the current number of about 966,000 units in 2017, the worldwide shipments of such clinical and non-clinical connected wearable patches will reach a total shipment of 35.1 million units yearly by 2022. And about 80 percent of that total market would be comprised of clinical applications, predicts the market intelligence firm.
 
“The market for connected wearable patches is still in the initial stages of development and commercial availability, but holds great promise, with the potential to improve the health of patients and contribute to lower healthcare costs,” says research analyst Sherril Hanson.
 
With respect to the connected wearable patches, the key industry players, the emerging and potential technological issues and the present and future market trends were examined by the report form Tractica titled ‘Connected Wearable Patches’. Based on these examinations, the report predicts the application areas of the patches, the potential revenue to be generated, the units to be shipped and the average selling prices of such devices for the period between 2016 to 2022.
 
Prevention of diseases, management of medication and treatment, medical monitoring and detection, and diagnosis are among some of the main uses of the connected wearable patches that the report primarily focuses on.
 
The aspect of human interaction with technology is the focus of the market intelligence firm Tractica. The firm has interests in areas related to Artificial Intelligence, wearable devices, digital health and user interface technologies.
 
(Source:www.businesswire.com) 


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