Market Size of Wearable Adhesive Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 13.15 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Wearable Adhesive Market Analysis
The wearable adhesive market was valued at USD 294.21 million in 2020 and is expected to reach USD 617.43 million by 2026, at a CAGR of 13.15% over the forecast period 2021 - 2026. With the advent of wireless mobile technology in wearable sensors, healthcare professionals are able to remotely monitor a patient's biometric data, such as blood pressure, heart rate, and blood glucose level.
- In recent years, developers of adhesives, trying to attach wearable devices to the skin have faced many types of physical, and design challenges. In order to work properly, these devices have to be properly stuck to the body, necessitating the design and development of new adhesives.
- Wearable products are used as handheld monitoring tools and have applications in identification and monitoring of diseases. Owing to the growth in chronic diseases, more patients are opting for home healthcare as it is cost-effective and an efficient way of treatment, rather than hospital services, which is expected to drive the wearables demand.
- However, developing adhesives for wearable applications is not an easy task. Designers can create effective products only by analyzing the skin type and age of the target patient population and by understanding the physical properties of the wearable devices.
Wearable Adhesive Industry Segmentation
Sticking a wearable device to the skin can be very tricky. That’s why it’s very important to have a good adhesive to hold the device together or adhere the device to the wearer’s skin. The adhesive can be used to stick various types of medical devices into a patients skin to collect data about the patient well being or to monitor patient's activity.
By Product | |
Wound Care | |
Medical Sensors |
By Application | |
Healthcare | |
Sports and Fitness |
Geography | |
North America | |
Europe | |
Asia-Pacific | |
Latin America | |
Middle East & Africa |
Wearable Adhesive Market Size Summary
The wearable adhesive market is experiencing significant growth, driven by advancements in wireless mobile technology and the increasing demand for remote health monitoring solutions. These adhesives are crucial for ensuring that wearable devices, which monitor biometric data such as blood pressure and heart rate, remain securely attached to the skin. The market is influenced by the rising prevalence of chronic diseases, which has led to a shift towards home healthcare solutions that are more cost-effective and efficient than traditional hospital services. Despite the challenges in developing effective adhesives that cater to different skin types and ages, the market is buoyed by the growing use of fitness tracking apps and the demand for continuous health monitoring devices. This trend is further supported by an increase in health consciousness and the integration of wearables with mobile apps for enhanced data extraction, particularly in sports and fitness applications.
In North America, the demand for wearable adhesives is on the rise due to a growing obese population and an increasing geriatric demographic requiring health monitoring. The need to reduce healthcare costs associated with chronic diseases is also a significant driver in this region. The market is characterized by a high level of competition, with a few key players holding a substantial market share. Companies like Koninklijke Philips N.V., Proteus Digital Health, and Kenzen, Inc. are leading the charge through product innovation and strategic partnerships. Recent developments, such as MC10 Inc.'s FDA clearance for its BioStamp nPoint system, highlight the ongoing advancements and collaborations aimed at enhancing wearable technology for healthcare applications.
Wearable Adhesive Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Introduction to Market Drivers and Restraints
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1.3 Market Drivers
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1.3.1 Growing Demand for Wearable Medical Devices Owing to Increasing Health Consciousness
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1.3.2 Advancements in the Adhesive Industry
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1.4 Market Restraints
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1.4.1 Difficulties in Designing the Composition of Adhesives
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1.5 Industry Attractiveness - Porter's Five Force Analysis
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1.5.1 Threat of New Entrants
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1.5.2 Bargaining Power of Buyers/Consumers
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1.5.3 Bargaining Power of Suppliers
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Product
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2.1.1 Wound Care
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2.1.2 Medical Sensors
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2.2 By Application
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2.2.1 Healthcare
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2.2.2 Sports and Fitness
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2.3 Geography
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia-Pacific
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2.3.4 Latin America
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2.3.5 Middle East & Africa
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Wearable Adhesive Market Size FAQs
What is the current Wearable Adhesive Market size?
The Wearable Adhesive Market is projected to register a CAGR of 13.15% during the forecast period (2024-2029)
Who are the key players in Wearable Adhesive Market?
Koninklijke Philips N.V., Proteus Digital Health, Kenzen, Inc, Lief Therapeutics and MC10 Inc. are the major companies operating in the Wearable Adhesive Market.