Vancouver, Nov. 23, 2023 (GLOBE NEWSWIRE) -- The global electronic skin patches market is projected to be worth USD 29.55 Billion by 2032, 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 the ability to monitor health and wellness independently.
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Scope of Research
| Report Details | Outcome |
| Market size value in 2019 | USD 8,322.8 Million |
| CAGR (2023 - 2032) | 10.3% |
| Revenue forecast in 2032 | USD 29.55 Billion |
| Base year for estimation | 2022 |
| Historical data | 2019 - 2021 |
| Forecast period | 2023 - 2032 |
| Quantitative units | Revenue in USD Millions, and CAGR from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Component, application, end-users, region |
| Regional scope | North America; Europe; Asia Pacific; Central & South America; MEA |
| Country scope | U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey |
| Key companies profiled | iRhytm Technologies, Xensio, VivaLnk Inc., Holst Center, Plastic Electronic GmbH, MC10, Philips, Xenoma, Quad Industries, and Sensium Healthcare Ltd. |
| Customization scope | 10 hrs of free customization and expert consultation |
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MAJOR COMPANIES and Market Share Analysis
The leading players in the electronic skin patches market are equipped with enhanced production facilities and are involved in various R&D activities. A few leading players in the electronic skin patches market include:
- iRhytm Technologies
- Xensio
- VivaLnk Inc.
- Holst Center
- Plastic Electronic GmbH
- MC10
- Philips
- Xenoma
- Quad Industries
- Sensium Healthcare Ltd.
Strategic Development
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.
In January 2019, Holst Centre announced the launch of a disposable health patch for taking measurements of vital signs associated with human health. An essential technology enhancement in this groundbreaking health patch is incorporating an extensive range of sensors into MUSEIC V3 SoC solution by imec.
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Key Highlights From The Report
- 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.
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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; 2019-2032)
- Stretchable Circuits
- Photovoltaic Systems
- Stretchable Conductors
- Electroactive Polymers
- Application Outlook (Revenue, USD Billion; 2019-2032)
- Health Monitoring Systems
- Drug Delivery Systems
- Cosmetics
- End-Users Outlook (Revenue, USD Billion; 2019-2032)
- Hospitals & Clinics
- Research Institutes
- Cosmetic Firms
- Others
- Regional Outlook (Revenue, USD Billion; 2019-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- 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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