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Global Wearable Ultrasound Patch Market is expected to Grow at a CAGR of 4.26% Over the Forecast Period, With Incorporation of Artificial Intelligence, says Absolute Markets Insights

Published On 26 May 2021 02:14 AM


Two-thirds of the global population doesn’t have admission to diagnostic care. With the assistance of new technologies and devices that have come up in the last few years it is certainly expected to aid in bridging this gap. In October, 2020, a US-based company Butterfly Network launched its portable ultrasound-on-a-chip, which looks a lot like a razor. This device has the capability to be connected to any smartphone and generate ultrasound images. It is available in more than 20 countries and it is offered at a monthly subscription of as low as $35. Additionally, it is also integrated with artificial intelligence capabilities, which in turn aims at improving the functionalities and user experience as well as provide users with real time insights and figures. These factors are helping individuals to make informed lifestyle choices, which is driving the demand of the global wearable ultrasound patch market. Wearable blood pressure monitors that use AI to drive innovation by the use of data and data-driven insights notify users when abnormalities in their blood pressure occur and give doctors real-time insights into their blood pressure, movement, and sleep. For instance, in 2019, OMRON Health joined forces with physIQ, a US based health care analytics company. This collaboration helped Omron Health to integrate its HeartGuide wearable blood pressure monitoring device to physIQ’s pinpointIQ AI platform, and has aided in delivering better cardiovascular patient care. Thus, with the incorporation of advanced technologies in wearable devices, the market is going to flourish.

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The COVID-19 pandemic has compelled physicians all over the world to experiment with medical technology in order to continue treating and tracking their patients remotely. Although several doctors will return to in-person practice in the future, a small number will continue to use telemedicine and remote patient monitoring technologies. Remote patient monitoring has shown to result in improved outcomes, higher quality of care, and enhanced patient satisfaction. With usage of wearable technologies, remote patient monitoring will gain more traction and enable the healthcare system to provide quality care. Hence, the sales of wearable ultrasound patch market will increase more in the current COVID-19 pandemic.

The detailed research study provides qualitative and quantitative analysis of wearable ultrasound patch market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

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Key Findings of the Report:

  • In terms of revenue, global wearable ultrasound patch market was valued at US$ 1070.99 Mn in 2020 and is anticipated to reach US$ 1553.27 Mn by 2029 growing at a CAGR of 4.26% over the forecast period (2021 – 2029).
  • In terms of revenue, adults’ consumer contributed for the highest market share in 2020 and are expected to maintain their dominance throughout the forecast period.
  • Hospitals and clinics accounted for the largest market share in terms of revenue in 2020.
  • Central Blood Pressure Monitoring contributed for a prominent market share under application category in the year 2020.
  • By region, North America accounted for the highest share in the global wearable ultrasound patch market in 2020. However, Asia Pacific region is expected to show the highest growth during the forecast years in the global wearable ultrasound patch market, with rising number of start-ups that are emerging in the market. Their objective is to offer low-cost portable devices to address unmet needs of healthcare industry.
  • Some of the players operating in the global wearable ultrasound patch market are Butterfly Network, Inc., Flosonics Medical, Hemonitor Medical, NanoVibronix, pulsify medical, ZetrOZ Systems LLC, Zio by iRhythm Technologies, Inc. and Softsonics amongst others.

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Global Wearable Ultrasound Patch Market:

  • By Consumer Group
    • Children
    • Adult
  • By Applications
    • Central Blood Pressure Monitoring
    • Urinary Incontinence
    • Pain Management
    • Wound Healing
    • Others
  • By End Use
    • Home Care
    • Hospitals and Clinics
    • Ambulatory Surgical Centers
    • Others
  • By Region
  • North America
      • U.S.
      • Canada
      • Mexico
      • Rest of North America
  • Europe
      • France
      • The UK
      • Spain
      • Germany
      • Italy
      • Nordic Countries
        • Denmark
        • Finland
        • Iceland
        • Sweden
        • Norway
      • Benelux Union
        • Belgium
        • The Netherlands
        • Luxembourg
      • Rest of Europe
  • Asia Pacific
      • China
      • Japan
      • India
      • New Zealand
      • Australia
      • South Korea
      • Southeast Asia
        • Indonesia
        • Thailand
        • Malaysia
        • Singapore
        • Rest of Southeast Asia
      • Rest of Asia Pacific
  • Middle East & Africa
      • Saudi Arabia
      • UAE
      • Egypt
      • Kuwait
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
      • Brazil
      • Argentina
      • Rest of Latin America


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Press Release Provided By: Absolute Markets Insights