Wilmington, Delaware, United States, June 10, 2022 (GLOBE NEWSWIRE) -- The global market for wearable bioelectronic skin patches is making strides on the back of rapidly growing demand for wearables for monitoring of the body's vital signs increasingly in life-threatening diseases and lifestyle ailments. The demand for wearable bioelectronic skin patches has risen for heart diseases, where their use has revealed critical clinical information on coronary heart functions. The global wearable bioelectronic skin patches market is forecast to reach US$ 14.8 Bn by 2031.
Advancements in sensors, actuators, and processors have enabled manufacturers to improve usability. The trend toward miniaturization of skin patches is bolstering the growth prospects for wearable bioelectronic skin patches market, concur the authors of the study. The incorporation of novel materials in sensors has boosted the comfort. For example, the novel materials have been extensively researched by wearable bioelectronic skin patches manufacturers to develop patches that are comfortable and non-invasive when worn by the user.
R&D in electrophysiological electronic skin sensors will open up new growth opportunities in wearable bioelectronic skin patches market. Vast prospects of these in medical monitoring of chronic diseases are expanding the avenue in the wearable bioelectronic skin patches market. Producers are expected to gain revenues from large-scale distribution of wearable bioelectronic skin patches.
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Key Findings of Wearable Bioelectronic Skin Patches Market Study
- Continuous Monitoring for Cardiovascular Risks Pivots Colossal Opportunities: The need for monitoring multiple biochemical levels non-invasively has spurred the prospects of wearable health monitors. The introduction of products that allow wearable bioelectronic skin patches to monitor cardiovascular signals presents massive lucrative avenue. Companies in the wearable bioelectronic skin patches market. are expected to reap enormous revenue gains from the adoption of these in managing the risk factors such as high blood pressure and diabetes. The trend has gained recent momentum from efforts by industry players to unveil comfortable wearable for all-in-one wearable health monitor.
- Companies Lean on Product Advancements Especially in Electrophysiological Electronic Skin Patches: Electrophysiological based skin patches present market players with enormous revenue potential. The segment held a major share in 2021, and relevant R&D is expected to create substantial lucrative opportunities.
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Wearable Bioelectronic Skin Patches Market: Key Drivers
- Prevalence of chronic diseases is driving the need for reducing the risk factors, and has underpinned the need for non-invasive wearable technology for daily monitoring of biological compounds. This is a key driver for the growing prospects of the wearable bioelectronic skin patches market.
- Advancements made in flexible electronics and adoption of cutting-edge methods are enriching wearable bioelectronic skin patches market. Of note, companies have benefitted from miniaturization of electronics.
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Wearable Bioelectronic Skin Patches Market: Regional Growth Dynamics
- North America held the leading share in terms of volume in the wearable bioelectronic skin patches market. The U.S. has contributed massive revenues to the regional market, catalyzed by R&D by heavyweights in healthcare technology and robust production capabilities.
- Asia Pacific held a share of around 30% of the global wearable bioelectronic skin patches market in 2021. The presence of a vast target population, mainly from the prevalence of strokes and other heart diseases, has fueled the revenue generation in the wearable bioelectronic skin patches market.
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Wearable Bioelectronic Skin Patches Market: Competition Landscape
The wearable bioelectronic skin patches market is highly consolidated, a few large players hold a major share. Some of the key players in the market are The Surgical Company, Insulet Corporation, Feeligreen, iRhythm Technologies, Inc., VivaLNK, Inc., Epicore Biosystems, Inc., and Gentag, Inc.
Wearable Bioelectronic Skin Patches Market Segmentation
- Application
- Motion and Position Sensing
- Medical Monitoring
- Sensor
- Electrophysiological
- Biochemical
- Potentiometric
- Tactile
- Distribution Channel
- Retail
- Online
Regions Covered
- North America
- Latin America
- Europe
- Latin America
- Middle East & Africa
Countries
- U.S.
- Canada
- Germany
- U.K.
- France
- Spain
- Italy
- Russia & CIS
- Japan
- China
- India
- ASEAN
- Brazil
- Mexico
- GCC Countries
- South Africa
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:
Smart Patches Market: The smart patches market is expected to reach US$ 15.5 Bn by 2031. Companies are taking it as a challenge in their stride to develop completely new designs in wearable smart patches that combine both comfort and functionality.
Pericardial Patches Market: The global pericardial patches market is anticipated to reach more than US$ 604 Mn by the end of 2031. The global market is projected to expand at a CAGR of 6.9% from 2022 to 2031. Rise in diseases related to surgical procedures is also likely to propel the global pericardial patches market in the near future.
Electrophysiology Devices Market: An increase in the incidence of cardiac arrhythmias, a surge in the geriatric population, technological advancements, and developing countries focusing on improving the healthcare infrastructure are expected to drive the global electrophysiology devices market from 2022 to 2031.
Skin Care Devices Market: Rise in obesity rates across the world, increase in popularity of non-invasive procedures for fat removal over conventional methods, and large consumer population willing to spend their disposable incomes on these measures are likely to drive the segment during the forecast period.
Atrial Fibrillation Market: The number of people affected by high blood pressure and large number of people are having valvular heart disease caused by rheumatic fever has resulted in atrial fibrillation. Growing incidence of obesity, hypertension, and diabetes has also resulted in different heart diseases leading the growth in the global atrial fibrillation.
Medical Sensors Market: The increase in number of chronic disorders across the globe is a significant factor responsible for the rising sales of medical sensors. There has been spike in the adoption rate of sensor-based medical devices in home care settings. This, in turn, is influencing the global medical sensors market.
Implantable Cardiac Monitor Market: Rise in the prevalence of cardiac arrhythmia such as atrial fibrillation and bradycardia is likely to boost the global implantable cardiac monitor market. Moreover, technological advancements and rise in the geriatric population across the globe are projected to drive the market.
Wearable Medical Devices Market: The global wearable medical devices market was valued at approximately US$ 6.8 Bn in 2017 and is anticipated to reach a value of approximately US$ 29.6 Bn by 2026, expanding at a CAGR of 17.7% from 2018 to 2026.
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