Wearable Adhesive Market is expected to register a CAGR of 13.12% during the period 2018 – 2023. The report discusses the various type products and their applications. While the regions considered in the scope of the report include North America, Europe, and various others. The study also emphasizes on how the advancements in the adhesive industry is changing the market scenario.
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In recent years, developers of adhesives used to attach wearable devices to the skin have faced a host of demographic, physical, and design challenges. In order to work, wearables have to be stuck to the body, necessitating the design and development of new adhesives. However, developing adhesives for wearable applications can be a difficult task. Designers can formulate 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. Moreover, it has been observed that while designing a wearable, most companies use adhesives that are already familiar to the regulatory bodies. Some of the standard materials, which are used as adhesives are acrylics, silicone, or polyurethane adhesive chemistries.
Growing Demand for Wearable Medical Devices to Drive the Market
Wearable products are used as handheld monitoring tools and have applications in identification and monitoring of disease. Owing to the growth in chronic diseases, patients are opting home healthcare as a cost-effective and efficient way of treatment, rather than hospital services, which is expected to drive the wearables demand. Moreover, by applying wireless mobile technology in wearable sensors, healthcare professionals can remotely monitor a patient’s biometric data, such as blood pressure, heart rate, and blood glucose level. That can be used to provide immediate diagnosis and feedback regarding treatment. Also, the growing demand for medical wearables had led to developments in the wearable adhesive market. For instance, adhesives manufacturers have developed vapor-transmission adhesive products ranging from acrylic adhesives to single or double-sided tapes.
Sports and Fitness Wearables Demand to Augment the Market Growth
Growing use of fitness tracking apps, rising demand for wireless and continuous health monitoring devices, increase in disposable income, and raising awareness about obesity are some of the factors driving the demand for wearables in sports and fitness applications. Moreover, a climb in product launches and integration and cross-compatibility of personal health and personal assistance are some of the key trends observed. Also, an increasing sense of health consciousness is driving the demand for these products. Further, the integration of wearables and mobile apps for data extraction has increased the demand in fitness enthusiasts.
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North America Is The Market Leader
The demand for these products is growing due to increase in obese population. Also, there has been an increase in the demand to produce monitoring devices, due to growing geriatric population and associated diseases with this age group. For instance, diabetes. Moreover, the need to curb healthcare expenditure related to chronic diseases is expected to drive the demand for wearable in the region. In addition, the awareness among the public regarding these products owing to the presence of a significant number of players in the region is also expected to act as a driver.
Proteus Digital Health, Kenzen, Inc, Koninklijke Philips N.V., Lief Therapeutics, MC10 Inc., Medtronic, VitalConnect
Table of Contents
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
1.4 Key Findings of the Study
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
4.1 Market Overview
4.2 Factors Driving the Market
4.2.1 Growing Demand for Wearable Medical Devices Owing to Increasing Health consciousness
4.2.2 Advancements in the Adhesive Industry
4.3 Factors Restraining the Market
4.3.1 Difficulties in Designing the Composition of Adhesives
4.4 Industry Attractiveness – Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products or Services
4.4.5 Competitive Rivalry among Existing Competitors
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