Dublin, May 23, 2024 (GLOBE NEWSWIRE) -- The "Global Electronic Skin Patch Market by Type (Monitoring & Diagnostic, Therapeutic), Wireless Connectivity (Connected, Non-connected), Application (Diabetes Management, Cardiovascular Monitoring, Temperature Sensing), End User and Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The Global Electronic Skin Patch Market is projected to grow from USD 15 billion in 2024 and is projected to reach USD 27 billion by 2029; it is expected to grow at a CAGR of 12.5% from 2024 to 2029. The rising geriatric population, rapid advancements in flexible electronics, sensors & wireless technologies, and increasing applications beyond traditional healthcare is fuelling market growth.
Monitoring & Diagnostics to hold the largest share during the forecast period
Recent innovations have led to integrating multiple sensors within a single patch, enabling the simultaneous monitoring of vital signs and biomarkers. The applications of electronic skin patches for diagnosis and monitoring are vast and diverse, covering various healthcare settings and medical conditions. In critical care settings, such as ICUs these patches continuously monitor vital signs such as heart rate, blood pressure, respiratory rate, and temperature. Dexcom's continuous glucose monitoring (CGM) system, such as the Dexcom G7, is a crucial tool for diabetes management. This application of electronic skin patches enables individuals with diabetes to continuously monitor their blood glucose levels, eliminating the need for frequent finger pricks.
Connected electronic skin patches holds for largest market share during the forecast period
Connected electronic skin patches leverage wireless technologies, such as BLE, Wi-Fi, cellular connectivity, RF technology, Ethernet, and near-field communication, to transmit real-time data collected by integrated sensors to receiving devices, such as smartphones, smartwatches, or medical consoles. These patches enable continuous monitoring of vital signs and other health metrics, including glucose levels, heart rate, blood pressure, and temperature. This real-time data transmission provides healthcare professionals with up-to-date information about the patient's health status, facilitating timely intervention for critical situations and enabling remote patient monitoring from a distance. Additionally, the energy efficiency of BLE technology makes it particularly suitable for wearable devices, such as electronic skin patches, ensuring long battery life and uninterrupted monitoring.
Cardiovascular Monitoring holds for second largest market share during the forecast period
Electronic skin patches for cardiovascular monitoring provide a promising solution to this pressing need by enabling continuous and non-invasive monitoring of blood pressure, heart rate, and electrocardiogram (ECG) readings. One of the most significant applications of these patches is in electrocardiogram (ECG) monitoring. Patches equipped with ECG sensors, such as AliveCor's KardiaMobile, allow individuals to record their heart rhythm at any time, enabling early detection of potential arrhythmias, such as atrial fibrillation, which can cause serious health consequences. Additionally, these patches can be used to track heart rate variability (HRV), a valuable indicator of overall cardiovascular health and stress levels. Beyond ECG, electronic skin patches can monitor vital signs essential for cardiovascular health assessment. Patches, such as Philips PatchPoint, offer continuous monitoring of blood oxygen levels, heart rate, blood pressure.
Healthcare segment projected to hold for largest share during the forecast timeline
The healthcare industry accounts for major share in electronic skin patch market. The healthcare industry is further segmented into hospitals & clinics, home care/home diagnostics, and diagnostics laboratories. The market is driven with the increasing demand for connected devices with more advanced features and functionalities. The low-cost, disposable, body-worn electronic skin patches play a significant role in monitoring several physiological parameters that can be analyzed remotely to keep track of critical health indicators of patients and check whether they have taken their medication.
Wearable patches replace various clinical devices, offering comfort and convenience to patients and healthcare professionals. Remote monitoring and telehealth are emerging concepts in the healthcare industry. Healthcare service providers are adopting electronic skin patches and wireless technologies to improve their relationship with patients. This would reduce the number of hospital visits of patients and bring down the cost of patient care. Sensor patches and related healthcare services continue to improve with better compliance and enhanced security and privacy features.
North America expected to have the largest market share during the forecast period
North America presents promising growth prospects driven by the strong emphasis on self-care and health monitoring, alongside its well-established healthcare infrastructure and commitment to technological progress. The increasing penetration of mobile devices (smartphones, tablets, and PDAs) and the growing popularity of wearables are driving the demand for electronic skin patches. Consumers are aware of new technologies and capabilities of electronic skin patches and are early adopters of new technologies. In addition, consumers seek new and innovative skin patches for monitoring fitness. These factors are major contributors to the growth of the electronic skin patch market in the region.
Research Coverage
This research report categorizes the Electronic Skin Patch market based on Type, Wireless Connectivity, Application, End User, and region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the Electronic Skin Patch market and forecasts the same till 2029. Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the Electronic Skin Patch ecosystem.
The report profiles key players in the Electronic Skin Patch market with their respective market ranking analysis. Prominent players profiled in this report are Abbott (US), Dexcom, Inc. (US), Medtronic (Ireland), Insulet Corporation (US), Boston Scientific Corporation (US), Koninklijke Philips N.V. (Netherlands), Biolinq Incorporated (US), Zio By iRhythm Technologies, Inc. (US), GENTAG, Inc. (US), VitalConnect (US), The Surgical Company (Netherlands), Senseonics Ltd. (US), Active Environmental Solutions (Australia), among others.
Apart from this, ScottCare (US), VivaLNK, Inc. (US), Bittium (Finland), Cardiomo (US), Seers Technology (South Korea), SIGKNOW (Taiwan), Cortrium (Denmark), Qardio, Inc. (US), LifeSignals (US), Blue Spark Technologies, Inc. (US), Epicore Biosystems (US), HIVOX BIOTEK INC. (US), IontoPatch (US), are among a few emerging companies in the Electronic Skin Patch market.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 284 |
| Forecast Period | 2024-2029 |
| Estimated Market Value (USD) in 2024 | $15 Billion |
| Forecasted Market Value (USD) by 2029 | $27 Billion |
| Compound Annual Growth Rate | 12.5% |
| Regions Covered | Global |
Premium Insights
- Increasing Prevalence of Diabetes and Cardiovascular Diseases to Create Lucrative Opportunities for Players in Electronic Skin Patch Market
- Monitoring & Diagnostic Segment to Register Higher CAGR from 2024 to 2029
- Connected Segment to Exhibit Highest CAGR in Electronic Skin Patch Market During Forecast Period
- Healthcare to Dominate Electronic Skin Patch Market, by End-user, During Forecast Period
- Diabetes Management to Hold Largest Share of Electronic Skin Patch Market in 2024
- Electronic Skin Patch Market in China to Grow at Highest CAGR During Forecast Period
Market Dynamics
- Drivers
- Increasing Burden of Chronic Diseases
- Surging Demand for Remote Health Monitoring Solutions
- Rising Geriatric Population
- Rapid Advancement in Flexible Electronics, Sensors, and Wireless Technologies
- Restraints
- Data Privacy and Security Issues
- High Upfront and Production Costs
- Opportunities
- Rising Emphasis on Improving Accuracy of Health Monitoring Devices
- Expanding Applications of Electronic Skin Patches Beyond Traditional Healthcare
- Growing Importance of Detecting Diseases at Early Stage
- Challenges
- Data Overload and Limited Processing Power
- Complex Regulatory Environments
Pricing Analysis
- Indicative Price Trend of Key Players, by Type
- Average Selling Price Trend, by Region
Technology Analysis
- Key Technologies
- Miniaturized Sensors
- Biocompatible Materials and Adhesives
- Complementary Technologies
- Artificial Intelligence (AI) and Internet of Things (IoT)
- Data Encryption and Security Protocols
- Cloud Computing
- Adjacent Technologies
- Wearable Electronics
- Telemedicine
Case Study Analysis
- Covestro Enables Effective Monitoring of Vital Signs and Health Parameters Using Sensor-based Wearable Patches
- DuPont Addresses Long-Term Monitoring Challenges with Nighthawk Smart Patches
- Medherant Ensures Enhanced Drug Delivery by Leveraging Tepi Patch Technology
- Nanotech Solutions Enables Users Achieve High Sensivity and Specificity Using Advanced Patches Equipped with Nanomaterial-based Sensors
- Tape Converters Holland B.V. Enables Continuous Monitoring of Hydration Levels with Smart Patches
Companies Featured
- Abbott
- Dexcom, Inc.
- Medtronic
- Insulet Corporation
- Boston Scientific Corporation
- Koninklijke Philips N.V.
- Biolinq Incorporated
- Zio by Irhythm Technologies, Inc.
- Gentag, Inc.
- Vitalconnect
- The Surgical Company
- Senseonics Ltd.
- Active Environmental Solutions
- Scottcare
- Vivalnk, Inc.
- Bittium
- Cardiomo
- Seers Technology
- Sigknow
- Cortrium
- Qardio, Inc.
- Lifesignals
- Blue Spark Technologies, Inc.
- Epicore Biosystems
- Hivox Biotek Inc.
- Iontopatch
- Tapecon, Inc.
- Linxens
- Quad Industries
- Beneli.com
- Hi-Tech Products
For more information about this report visit https://www.researchandmarkets.com/r/glrrlk
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