Electronic Skin Patches Market Size to Reach USD 18.10 Billion in 2027 | Industry Trend- Rapid Advancements in Wearable Technology
Electronic Skin Patches Market By Component (Stretchable Circuits, Photovoltaic Systems, Stretchable Conductors, Electroactive Polymers), By Application (Health Monitoring Systems, Drug Delivery Systems, Cosmetics), End Use (Hospitals & Clinics, Research Institutes, Cosmetic Firms, Others) and By Region Forecasts to 2027
According to Emergen Research, the global electronic skin patches market size was USD 8,232.8 million in 2019 and is expected to reach USD 18.10 billion in 2027 and register a revenue CAGR of 10.3% during the forecast period.
Electronic skin patches are thin, smart, flexible products that are attached to the skin using biocompatible adhesives and are widely used for remote monitoring in inpatient and outpatient cases. Electronic skin patches are most commonly used in diabetes management and cardiac monitoring. These patches are also used for motion and position sensing, temperature sensing, smart wound care, and drug and cosmetic delivery. As compared to conventional wearable devices, these skin patches are lighter, compact, comfortable, and less intrusive for the patients.
Electronic skin patches are in high demand due to the increasing prevalence of various chronic diseases such as cardiovascular diseases, diabetes, cancer among others owing to changing lifestyles, unhealthy eating habits, and lack of physical activities. Other factors such as increasing usage of wearable health monitoring devices, rapid advancements in robotics, increasing geriatric population, and increasing government initiatives are expected to fuel global market growth during the forecast period. However, factors such as high cost associated with advanced skin patches, lack of awareness about the electronic skin patches and wearable technology, dearth of skilled healthcare professionals, and unavailability of latest technology due to lack of funds are expected to hamper revenue growth of the market to a certain extent during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Electroactive Polymers Segment to Register Steady Revenue Growth:
Electroactive polymers segment is expected to register a steady revenue growth during the forecast period owing to high usage of electroactive polymers due to its properties such as low cost, high flexibility, low density, structural simplicity, and absence of acoustic noise.
Healthcare Monitoring Systems Segment to Account for Largest Revenue Share:
Healthcare monitoring systems segment is expected to account for largest revenue share during the forecast period. This can be attributed to increasing prevalence of various chronic diseases across the globe, rapid advancements in wearable technology, and increasing demand for real time monitoring of physiological parameters such as electrolyte balance, body motion, temperature among others.
North America to Lead in Terms of Revenue Share:
North America is expected to account for largest revenue share in the global electronic skin patches market over the forecast period owing to high prevalence of cardiovascular disorders, diabetes, epilepsy, cancer, and other chronic diseases, availability of advanced monitoring devices, and increasing public awareness about wearable health monitoring devices. In addition, presence of well-established healthcare centers, research facilities, and highly skilled healthcare experts, increasing elderly population, and increasing investments in research and development activities are other key factors expected to fuel market growth in North America.
Major Companies in the Market Include:
- iRhythm Technologies
- VivaLink Inc.
- Holst Center
- Plastic Electronic GmbH
- Quad Industries
- Sensium Healthcare Ltd.
For the purpose of this report, Emergen Research has segmented the global electronic skin patches market on the basis of component, application, end use, and region:
Component Outlook (Revenue, USD Billion; 2017-2027)
- Stretchable Circuits
- Photovoltaic Systems
- Stretchable Conductors
- Electroactive Polymers
Application Outlook (Revenue, USD Billion; 2017-2027)
- Health Monitoring Systems
- Drug Delivery Systems
End Use Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals & Clinics
- Research Institutes
- Cosmetic Firms
Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- This study segments the Electronic Skin Patches market and derives the precise valuation of the overall, as well as segment-based, market across different industry verticals, geographies, and products.
- The report will help participants understand the trajectory of the progress of the market and provide information on key drivers, restraints, challenges, threats, and opportunities for the growth of the Electronic Skin Patches sectors.
- This Electronic Skin Patches report would allow readers to be well-versed with the existing competition and gain more insights to improve their standing in the worldwide business. The competitive landscape considers the dominant competitors, along with product launches and technological advancements, strategic expansions, mergers and acquisitions, and procurement strategies implemented by key players in the Electronic Skin Patches market.
Key features of the report:
- To study the key aspects impacting the Electronic Skin Patches market size.
- To identify growth prospects in the Electronic Skin Patches market.
- To analyze the Electronic Skin Patches market segments and deduce the dominant trends observed in the industry.
- To examine the Electronic Skin Patches market by investigating the available products, market share, and value proposition of the products.
- To analyze the industry by assessing the scope and application of the Electronic Skin Patches market and highlight the growth of each application.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2030
Chapter 3. Key Insights
Chapter 4. Electronic Skin Patches Market Segmentation & Impact Analysis
4.1. Electronic Skin Patches Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Explore Complete Table of Content@ https://www.emergenresearch.com/industry-report/electronic-skin-patches-market
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