New York, USA, July 23, 2024 (GLOBE NEWSWIRE) -- Market Overview:
The Global Electronic Skin Patch Market size is predicted to grow from USD 12.83 billion in 2023 to USD 38.38 billion by 2032. It is anticipated to grow at a compound annual growth rate (CAGR) of 13.0% from 2024 to 2032, according to the latest research report by Polaris Market Research.
Market Introduction
What are Electronic Skin Patches?
Electronic skin patches are thin, flexible commodities that fix the user's skin through the usage of compliant adhesives. For instance, rather than a heart rate monitor taking the configuration of the strap that is positioned on a connected covering the user, it can be applied instantly to a particular area of the skin. The electronic constituents of the commodity involving sensors, processors and interaction factors are combined into the skin patch. Juxtaposed to conventional wearable gadgets, electronic skin patches can be compact, weightless, more agreeable, and less invasive for the users. Patches can be outlined for solitary, interim, or prolonged usage.
The electronic skin patch market is witnessing substantial demand owing to the possibility of e-skin gadgets in healthcare as they can be used in health observing gadgets, bionic prosthetics, and brilliant drug delivery systems improving the longevity of electronic commodities. To develop e-skin gadgets further, it is important to advance new substances that have skin-resembling features, sensor units with inventive concepts, outstanding presentation in critical variables, and several operations and arrangement amalgamation.
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Electronic Skin Patch Market Report Attributes
| Report Attributes | Details |
| Market value in 2023 | USD 12.83 billion |
| Market value in 2032` | USD 38.38 billion |
| CAGR | 13.0% from 2024-2032 |
| Base year | 2023 |
| Historical data | 2019-2022 |
| Forecast period | 2024-2032 |
Key Highlights of the Report
- Various factors involving eminent medical device firms have earned apex skin patch firms disposed to encompass them into wider digital healthcare ecology are driving the market for electronic skin patches.
- The market is primarily segmented based on type, wireless connectivity, application, end-use, and region.
- North America dominated the market with the largest electronic skin patch market share.
Electronic Skin Patch Market Key Players
- Abbott
- Active Environmental Solutions
- Biolinq Incorporated
- Boston Scientific Corporation
- Dexcom, Inc.
- Insulet Corporation
- Koninklijke Philips N.V.
- Medtronic
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Top Market Developments
Growth Drivers and Trends:
Wireless Data Transference: By including wireless data transference, e-skin can gain movable and smartphone-congenial functions, eliminating the requirement for intricate devices and technologies such as proximate field interaction. Alternate notable operations such as self-restoration, self-power, self-cleaning, and zestful drug delivery can also be engaged in the healthcare domain.
Progressive Technologies: The growing incorporation of technologies such as AI has the potential to recognize substances that improve the corrective value of the drugs and also assist in picking and maximization of fabrication procedures depending on attributes of the substances, supporting the electronic skin patch market growth.
Distant Healthcare Solutions: There is a growing demand for distant healthcare observing solutions to ease distant and ongoing observation of patients' health footing. When firmly attached to sensing electronics, they estimate several variables such as respiration, cardiac function, brain activity, and more.
Challenges:
Worries in the context of data security and solitude portray a significant challenge to extensive acquisition. These patches assemble fragile health data, highlighting the requirement for strong security steps. It is important to ascertain the established repository and conveyance of this data to prohibit cybercriminals from capitalizing on susceptibilities.
Which Region Leads the Electronic Skin Patch Sector?
North America: The North American region dominated the electronic skin patch industry with the largest revenue share. The region's dominance in the market can be attributed to point-of-care technology, which permits for appropriate and instant healthcare services. Further, the region's market augmentation is reinforced by escalated healthcare disbursement and an escalating elderly population.
Asia Pacific: Asia Pacific is anticipated to witness the fastest growth in the electronic skin patch market over the estimated period. This is due to a rise in the demand for electronic skin patches for home care therapies. As the geriatric population is more open to detrimental illnesses, this demographic move is anticipated to aid in growth in patient aggregate, thereby pushing the acquisition of electronic skin patches.
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Segmental Overview
By Type Outlook
- Monitoring & Diagnostic
- Therapeutic
By Wireless Connectivity Outlook
- Connected
- Non-connected
By Application Outlook
- Diabetes Management
- Temperature Sensing
- Electrical Stimulation
- Iontophoresis
- Sweat Sensing
- Cardiovascular Monitoring
- General Patient Monitoring
- Wound Monitoring & Treatment
- Motion Sensing
- Others
By End Use Outlook
- Healthcare
- Hospitals & Clinics
- Home Care
- Diagnostics Laboratories
- Fitness & Sports
- Others
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Australia, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
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