High demand for electronic skin in the healthcare sector to treat diabetes and cardiology diseases is driving market growth.
High demand for electronic skin in the healthcare sector to treat diabetes and cardiology diseases is driving market growth.
The global electronic skin market is expected to register a CAGR of 20.6% and reach a market size of USD 20.02 Billion in 2027. The electronic skin market is witnessing increased demand owing to growth in robotics and related developments. Advancements in technology and incorporation of Artificial Intelligence (AI) in the healthcare sector are factors driving revenue growth in the market product.
Electronic skin is used for various applications such as to monitor patients with cardiovascular diseases, conditions during pregnancy, diabetes, and in the detection of abnormalities in the brain. This technology has a vast and growing range of applications in industrial & residential robotics, healthcare, and prosthetics.
Factors such as low awareness and low investment in research and development in developing economies are factors expected to limit adoption of this technology. High cost and complex design of the technology will also limit demand for electronic skin technology.
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The COVID-19 impact:
The COVID-19 pandemic has impacted the electronic skin market positively. The virus has impacted the healthcare industry significantly, creating need for real-time health monitoring of patients. Market players are focused on developing electronic skin patches that can track a patient’s temperature and heart rate. These electronic devices provide remote and continuous monitoring of a patient’s body temperature.
Further key findings in the report
- Electronic skin patches are reliable and convenient, and ideal for remote monitoring in in-patient and out-patient cases. Skin patches are commonly used in diabetes and cardiac management, and for temperature sensing, drug delivery, newborn monitoring, and smart wound care, among others.
- Stretchable conductors are essential in stretchable electronic devices, which are used in soft robotics and next-generation wearables. Their ability to enhance electronic performance is a key factor driving demand.
- Health monitoring systems segment accounted for largest revenue share in 2019. Growing application of electronic skin in neurology, cardiology, and diabetes for disease treatment is driving revenue growth of this segment.
- Asia Pacific market revenue growth rate is expected to remain comparatively higher than other regional markets over the forecast period. This can be attributed to increasing geriatric population and rising prevalence of diabetes in countries in the region.
- Key participants include Xensio, MC10, VivaLnk, Inc., Xenoma, iRhytm Technologies, Philips, Plastic Electronics GMBH, Dialog Semiconductor, Holst Center, and Koninklijke Philips N.V.
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For the purpose of this report, Reports and Data has segmented the global electronic skin market on the basis of product, component, sensors, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Electronic patches
- Electronic skinsuits
Component Outlook (Revenue, USD Billion; 2017-2027)
- Photovoltaics systems
- Stretchable circuits
- Stretchable conductors
- Electroactive polymers
Sensors Outlook (Revenue, USD Billion; 2017-2027)
- Chemical sectors
- Tactile sensors
- Electrophysiological Sensors
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Health monitoring systems
- Drug delivery systems
- Cosmetics
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- Latin America
- Brazil
- Rest of LATAM
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Some points on how the report benefits stakeholders:
- The reports include historical (2017–2020) and forecast (2021–2027) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2027.
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