The analysts forecast the global wearable adhesive market to grow at a CAGR of 11.92% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global wearable adhesive market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of wearable adhesives. The report also includes a discussion of the key vendors operating in this market.
Wearable adhesives are used to attach wearable medical devices to the skin. The designing of a suitable adhesive for wearable medical device applications is critical. It is important to ensure that the components such as skin adhesive, the substrate, and the device-hold adhesive work together. The absence of any of these components will not offer the benefits as expected and can bring users discomfort.
One trend in the market is growing penetration of wearable patches in cosmetic industry. The increasing popularity of wearable devices is encouraging various industries to enter the market. Wearable patches are becoming popular because they are easy to use compared with other medical wearable devices.
According to the report, one driver in the market is increase in number of lifestyle diseases. The number of lifestyle diseases is rising because of lifestyle changes and increased consumption of unhealthy food. In addition, the number of diseases among the aging population is increasing. These factors are driving the need for devices to detect and track various illnesses. The aging population and baby boomers are more prone to lifestyle diseases such as hypertension, diabetes, and cardiovascular disease.
Further, the report states that one challenge in the market is limited trust of users in wearable patches. The awareness among users is quite limited in the market mainly because it is a new technology that is still emerging in the market. Regulatory requirements, product safety approval, environmental approval, and reimbursement in case of issues and tests related to wearable patches are some of the issues faced by manufacturers. Lack of proper testing can result in burns, skin irritation, electric shocks, transmission of electric signals, or generation of false alarms.