Vancouver, British Columbia, Dec. 17, 2020 (GLOBE NEWSWIRE) -- The global electronic skin patches market is projected to be worth USD 18.10 Billion by 2027, according to a current analysis by Emergen Research. The electronic skin patches market is observing rapid growth attributed to the rising occurrence of chronic diseases. According to the statistics released by the WHO (World Health Organization), chronic diseases' burden is projected to grow by 57.0% by the year 2020 from 2001.
Developing nations are expected to be highly impacted, contributing to 60.0% of the global burden of chronic diseases. The growing incidence of chronic diseases comprising cancer, epilepsy, heart disease, and diabetes drives health monitoring demand. Electronic skin patches through IoT are beneficial for remotely located healthcare personnel in managing chronic conditions and providing patients with the ability to monitor health and wellness independently.
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Key Highlights From The Report
- In February 2020, VitalConnect made an announcement about the inclusion of arrhythmia detection functionality to its remote monitoring platform that deploys wearable biosensor, VitalPatch, to monitor the measurement of eleven vital signs.
- Photovoltaic devices are a preferred substitute for common energy sources due to the exceptional mechanical strength and excellent power conversion efficiency. They cater to the requirements for cheap, eco-friendly, and portable power sources for self-powered electronic devices like electronic skin patches.
- The electronic skin patch is an emerging technology, with researchers emphasizing on the development of a synthetic skin with self-healing ability like normal human skin. This feature may be achieved by deploying elastic polymers substrate having gold nanoparticles, electrodes with excellent conductivity, and microscopic nickel particles.
- The market in the Asia Pacific region is projected to have the fastest CAGR in the forecast period attributed to rising technological advancement in electronic skin patches, growing adoption of the product, and growing occurrence of chronic diseases.
- Key participants include iRhytm Technologies, VivaLnk Inc., Xensio, Holst Center, MC10, Philips, Xenoma, Plastic Electronic GmbH, Quad Industries, and Sensium Healthcare Ltd., among others.
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Emergen Research has segmented the global electronic skin patches market on the basis of component, application, end-users, 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
- Cosmetics
- End-Users Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals & Clinics
- Research Institutes
- Cosmetic Firms
- Others
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- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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