Report ID: SQMIG35F2005 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 67 | Figures: 75Global Pediatric Home Healthcare Market
Report ID: SQMIG35F2008 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 118 | Figures: 77
Electronic Skin Market size was valued at USD 5.3 billion in 2021 and is poised to grow from USD 6.35 billion in 2022 to USD 26.8 billion by 2030, growing at a CAGR of 19.73% in the forecast period (2023-2030).
Electronic skin includes flexible printed electronics that assist in sensing pressure and temperature. High demand for this in the wearable electronics sector will propel the market growth. Electronic Skin and skin patches are being used for a variety of applications such as monitoring diabetes, cardiovascular disorders, pregnancy, detecting abnormalities in the brain, and others.
In addition, the increasing requirement for these components in wearable electronics is also anticipated to boost the Market growth.
US Electronic Skin Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global electronic skin market is segmented into product, components, source, application, and region. By product, the market is segmented into electronic skinsuits and electronic patches. By component, the market is segmented into photovoltaics systems, stretchable circuits, stretchable conductors, and electroactive polymers. By sensors, the market is segmented into tactile sensors, chemical sectors, electrophysiological sensors, and others. By application, the market is segmented into health monitoring systems, drug delivery systems, and cosmetics. By region, the market is segmented into North America, Europe, Asia Pacific, and MEA.
Electronic Skin Market Analysis by Product Type
By product type, the electric skin patches provide for the storage of energy as well as communication using the sensors in these patches. The demand for these patches in the personal care industry.
It facilitates continual communication with the doctor.
These patches enable the hospital to monitor the patient for a longer period of time and receive all the real-time data, which is very helpful in preserving the patients' or clients' health.
These patches are specifically intended for diabetes monitoring.
It is incredibly helpful for patient monitoring and temperature sensing.
Electronic Skin Market Analysis by Application
By Application, the health monitoring systems are expected to grow well during the forecast period. This segment is expected to dominate the market in the coming years as it has done in the past period. This segment held a market share of about 39% in recent years.
There's an increased use of electronic skin in various diseases like cardiovascular diseases and chronic diseases. This technology happens to be user-friendly as they are easy to use, and patients can monitor their health. The drug delivery system segment is also expected to grow well in the coming years. As it happens to be a non-invasive method therefore the market is expected to grow.
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Asia Pacific held the largest Global Electronic Skin Market share in 2021 owing to high demand for e-skin products in cosmetics and drug delivery systems. Increasing usage of e-skin patches in numerous applications such as biomedical, industrial robotics, artificial prosthetics, and others are expected to boost growth of the market during the forecast period. Moreover, companies are focusing on the implementation of Machine Learning (ML) and Artificial Intelligence (AI) in e-skin development in this region.
Increasing competition in the market and high investments made by the research departments and government will contribute to growth of the e-skin market.
North America accounted for largest revenue share in 2021 and is expected to register a steady growth rate over the forecast period owing to increasing geriatric population and increasing number of innovative e-skin product launches.
In addition, presence of major players in the industry such as VivaLnK, Inc., Xsensio, and iRhythm Technologies among others are investing in R&D activities and are continuously innovating their products, which is expected to boost the market during the forecast period.
Europe is expected to grow at a steady rate during the forecast period owing to rise in the application of e-skin in various industries. Government initiatives to reduce the risk of non-communicable diseases in adults and children are also boosting growth of the market. Continuous technological advancement and developed medical infrastructure are also contributing to the growth of the market in the region.
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Electronic Skin Market Drivers
Increasing Concerns Related to Chronic Ailments in Geriatric Population will Boost Demand for Electronic Skin in Global Market
Electronic Skin Market Restraint
High Costs and Complex Designing to Hinder Market Growth
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Global Electronic Skin Market is highly fragmented with the presence of several small and large market players operating all over the world. Major companies of the market are implementing several business strategies such as new product launches, acquisition & mergers, collaboration, and partnerships for the expansion of their geographical presence and their product portfolio.
Electronic Skin Market Top Player’s Company Profiles
Electronic Skin Market Recent Developments
Global Electronic Skin Market to Witness Launch of Many Novel Products in Coming Years
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Electronic Skin Market analysis, the growing demand and the approval of electronic skin due to its potential advantages will propel the market growth. The increase in funding by various organizations for developing technologically progressive these products will shape the future of the market.
|Market size value in 2021||USD 5.3 billion|
|Market size value in 2030||USD 6.35 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Electronic Skin Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Electronic Skin Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Electronic Skin Market:
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Product ID: SQMIG35F2008