International Research Journal of Engineering and Technology (IRJET)
e-ISSN: 2395-0056
Volume: 12 Issue: 10 | Oct 2025
p-ISSN: 2395-0072
www.irjet.net
"Shifting Dynamics of the Health Market: From Traditional Medicines to Innovative Patches" -
Trisha
--------------------------------------------------------------***--------------------------------------------------------Abstract – This research paper provides insight into the relative revenue growth and growth drivers of the markets for insulin injections and the wearable glucose patch. The insulin injection market has the benefits of established products and consistent demand. As a result, it has a direct revenue generating model based on sales volume and sales price. The market for wearable glucose patches is new and innovative; therefore, it has a diverse and dynamic revenue generating model based on technology, market regulation, and patient uptake.
For each market, a theoretical revenue model is constructed based on market size, growth rate, and price. The revenue model for insulin injections is based on cost and market saturation to predict revenue growth. In contrast, the revenue model for the wearable glucose patch incorporates revenue potential, cycles of innovative technology, and market adoption to predict revenue growth.
Key Words: Wearable, Insulin, Patches, Market 1. INTRODUCTION: Health impacts every facet of life, driving one’s living standards, productivity, and even lifespan. Many people interpret health purely as the absence of disease. According to the World Health Organization, health also includes complete physical, mental and social wellness. With great and rapid changes of the world today, including urbanization, dealing with obesity, diabetes and other chronic diseases, sustaining wellness permanent vigilance, preventive strategies and sophisticated health care systems. Healthcare systems cannot operate without medical devices. From the most rudimentary cum primary devices like thermometer, stethoscope, and sphygmomanometer, to the most sophisticated ones like imaging system, pacemakers, portable dialysis machines, and health trackers, every devices helps someone somewhere in the world. The achievement of modern devices makes the work of clinicians and the demands of patients more exact, safer, and more efficient. The provision of medical devices, especially during the COVID-19 pandemic, had to transgress their traditional hospital and clinic settings. Patients and even healthy individual can now use devices to monitor their health forecast. Portable health monitoring devices and wearable health sensors makes it easy to track health patterns. Prevention health care has become easy and more convenient. The shift of conventional health care practices towards preventive measures has been greatly facilitated by health technologies.
2. HEALTH AND MEDICAL EQUIPMENT: The integration of health and medical equipment forms the very basis of contemporary healthcare systems and underpins prevention, diagnosis, treatment, and rehabilitation. Health equipment refers to an assortment of tools and devices that promote general well-being, personal health tracking, and daily wellness, while medical equipment is of a more specialized nature and is primarily used for therapeutics. The two categories are interdependent, proving that healthcare is accessible to the public even outside of hospitals and clinics, and is streamlined into everyday life. Health equipment comprises devices that monitor health, like thermometers, fitness trackers, digital weighing scales, and pulse oximeters, which encourage the individual to become conscious of their health and detect any abnormalities early on, thus allowing for lifestyle changes to be made. Nobody can argue that medical equipment is more complex, advanced, and specialized, as it includes imaging systems, ventilators, insulin pumps, and pacemakers, which require supervision of a medical professional for diagnosis and treatment. The two sets of devices used together illustrate a continuum of care that personal monitoring and life-saving medical interventions provide. Technology rapidly advances, and the health equipment/ medical equipment lines become even more undefined.
© 2025, IRJET
|
Impact Factor value: 8.315
|
ISO 9001:2008 Certified Journal
|
Page 438