Pune, India, Aug. 27, 2020 (GLOBE NEWSWIRE) -- The Global Electronic Skin Market is valued at USD 7.0 Billion in 2020 and is anticipated to grow with a CAGR of 15.0% during the forecast period from 2020 to 2028. Increasing implementation of imaging modalities in various geographical locations to detect COVID-19 will boost the demand for electronic skin.
Electronic skin is a flexible, thin, and stretchable membrane which is embedded in electronic components. It possesses sensing abilities. The electronic skin technology is proposed to mimic the abilities of the human/animal skin, due to which electronic skin generates a response to environmental stimuli such as changes in pressure as well as heat.
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Electronic skin provides platform for integrating sensors and patches to monitor environmental changes. This feature represented by the electronic skin technology has generated interest among the manufacturers of healthcare equipment and wearable devices. Electronic skin possesses the potential to be utilized for monitoring on-body health and physiological conditions. In the next few years, electronic skin is expected to experience rapid adoption in different industries, such as industrial & residential robotics, healthcare, and prosthetics.
Global Electronic Skin Market, by Product
In terms of product, the market is segmented into electronic skin suit and electronic patches. Electronic patches hold a significant revenue in 2020 and is expected to grow with a moderate CAGR during the forecast period. This is due to the increasing application of electronic skin patches for diabetes management via CGM (continuous glucose monitoring) and cardiovascular monitoring. Electronic skin patches are also being used for fever monitoring and fertility monitoring and fitness tracking.
Global Electronic Skin Market, by Component
In terms of components, the market is segmented into stretchable circuits, photovoltaics system, stretchable conductors, and electro-active polymers. The photovoltaics system is expected to grow with a considerable CAGR during the analysis period. This is due to the implementation of photovoltaics system in skin patches and sensors owing to the limitation of traditional patches.
Global Electronic Skin Market, by Sensor Type
In terms of the sensor type, the market is segmented into tactile sensors, chemical sensors, and electrophysiological sensors. Electrophysiological sensors have emerged as one of the major segments in the global electronic skin market. The need for monitoring diseases, mainly in infants and geriatric population, will boost the market growth. Also, a rise in the incidence of chronic diseases will further supplement the demand for electronic skin products in the market.
Global Electronic Skin Market, by Application
In terms of application, the market is segmented into health monitoring systems, drug delivery systems, and cosmetics. The health monitoring segment accounted for the largest market share in 2020. Health monitoring via electronic skin patches and electronic skin suits is being studied for various ailments such as diabetes, pregnancy related concerns, cardiovascular diseases, smoking cessation, and fever, among other ailments. Therefore, owing to the wide applications of ailments that health monitoring covers, the market is anticipated to witness substantial growth in the coming years.
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Global Electronic Skin Market, by Distribution Channel
In terms of distribution channels, the market is segmented into B2B and B2C. B2B is expected to grow with a significant growth rate due to varied advantages offered by this distribution channel. A few of the advantages offered by B2B over the B2C segment include new customers with more online habits, instant order fulfilment, as well as big order values which correspond to more revenues.
Global Electronic Skin Market, by Region:
In terms of region, the North American region has captured the largest market for global electronic skin in 2020 and is anticipated to be dominant till the forecast period. The major contributing factors are growing chronic diseases, growing awareness, and increasing R&D investments in the healthcare IT sector. These are some of the leading markets for electronic skin in the region.
Some Major Findings of the Electronic Skin Market Report Include:
- Global electronic skin market trend & forecasts analysis along with a country-specific market analysis for up to 25 countries
- In-depth global electronic skin market analysis by test type, application, end-use, and regions with an analysis of trend-based insights and factors
- Profiles of the major market players operating in the global electronic skin market, which include MC10, Xsensio, Rotex Inc., Renew Health Limited (Intelesens ltd), Xenoma Inc., VivaLnK, Inc., Chrono Therapeutics, iRhythm Technologies, Holst Center, Byteflies & Quad Industries, Bloomlife, Dexcom, Insulet Corporation, Feeligreen, Gentag, and Abbott.
- Competitive benchmarking, product offering details, and growth strategies adopted by the leading market players, along with their major investments in the last five years.
- Key impact factor analysis across regions that includes clinical pipeline analysis, along with the drivers, restrains, opportunities, and challenges that are prevailing in the global electronic skin market.
- Impact analysis of COVID-19 on the electronic skin market.
Browse key industry insights spread across 119 pages with 102 market data tables and 68 figures & charts from the report, “Electronic Skin Market, By Product (Electronic Skin Suit, Electronic Patches), By Component (Stretchable Circuits, Photovoltaics System, Stretchable Conductors, Electro-Active Polymers), By Sensor Type (Tactile Sensors, Chemical Sensors, Electrophysiological Sensors), By Component (Health Monitoring Systems, Drug Delivery Systems, Cosmetics), By Distribution Channel (B2B and B2C), By Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) - Market Size & Forecasting (2016-2028)” in-depth analysis along with the table of contents (ToC).
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