Electronic Skin Market To Grow With Impressive CAGR During the Forecast Period
Surging demand of advanced healthcare are driving the growth in Global Electronic Skin Market in the forecast period, 2022-2026.
According to TechSci Research report, “Global Electronic Skin Market By Product (Electronic Skin Patches v/s Electronic Skin Suit) By Component (Stretchable Circuits, Photovoltaics System, Stretchable Conductors, Electro-Active Polymers) By Sensor Type (Tactile Sensors, Chemical Sensors, Electrophysiological Sensors) By Application (Health Monitoring Systems, Drug Delivery Systems, Cosmetics) By Distribution Channel (Hospitals & Clinics, Cosmetic Companies, Others) By Region, Competition Forecast & Opportunities, 2026”, the global electronic skin market is projected to grow at an impressive CAGR in the forecast period, 2022-2026. The market attributes responsible for the growth of the market are increasing number of road accidents, active participation of the children and young adults in the adventure ports and physical activities. Moreover, rising research and development of the artificial skin is supporting the growth of the global electronic skin market. South Korean research institutions have developed multitasking skin that can act like human skin and can sense temperature, pressure, and sound simultaneously. Scientists are continuously performing research activities to imitate olfactory, palate senses, and tactile sensing. Furthermore, the use of electronic skin in artificial prosthetics, biomedical, and robotic devices is also creating new avenues for the market. Also, scientists have developed multitasking skin that can act like human skin and can sense temperature, pressure, and sound simultaneously. Scientists are continuously performing research activities to imitate olfactory, palate senses, and tactile sensing. Furthermore, the use of electronic skin in artificial prosthetics, biomedical, and robotic devices is also creating new avenues for the market.
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The global electronic skin market is segmented by product, component, sensor type, application, distribution channel, competitional landscape, and regional distribution. Based on component, the market is further segmented into stretchable circuits, photovoltaics system, stretchable conductors, electro-active polymers. Stretchable circuits are anticipated to hold the largest revenue shares of the market on the account of its advantage over soft tissues for the regenerative medicines continuous health monitoring, and robotic control and feedback. In addition, these stretchable circuits allow various bio signals to be measured on human skin without restricting daily activities. Although, electro-active polymers are expected to register the fastest growing segment in the next five years on the account of its biocompatible nature. Electro-active polymers undergo dimensional changes in response to the applied electrical field. These electroactive polymers are electronically conductive with high reversible ion storage capacity. These are a special class of material, with the ability to conform to the surface of different shapes and have low-moduli high strain capabilities.
Based on product, the market is further bifurcated into electronic skin patches and electronic skin suits. Electronic skin patches are anticipated to hold the largest revenue shares of the market and assert its dominance over the segment on the account of surge in demand. Skin grafting for a patch or multiple patches is more convenient and often has multiple demand. Whereas electronic skin suits are only utilized in the case of complete skin replacement and not just grafting. Electronic skin patch technology keeps patients out of the hospitals, while still maintaining close contact with doctors. These electronic patches are used in diabetes self-monitoring, motion sensing, remote patient monitoring- both inpatient and outpatient, & temperature sensing. Although, electronic skin suits sub-segments are expected to grow rapidly and register the fastest growing CAGR on the account of advantages like highly convenient and effective solution for patient monitoring if its action is based on feedback temperature and pressure coming from the body.
Holding the major shares of the market are Koninklijke Philips N.V., Insulet Corporation, Dexcom, Inc., Abbott Laboratories, Inc., 3M Company, Dialog Semiconductor PLC, VivaLnk, Inc., MC10, Inc., Xenoma, Inc., GENTAG, Inc., Chrono Therapeutics, Inc., Plastic Electronics GmbH, iRhythm Technologies, Inc., Xsensio SA, Byteflies & Quad Industries, among others. Market players are actively involved in the research and technological development in the product manufacturing. The advanced technology has made it possible for the healthcare industry to monitor the patient health via electronic skin. Further advancement would aid the market value and brand establishment in the future five years. New market players may focus on the research and development to provide devices that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
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“Increasing incidences of road accidents are some of the major reasons of why North America is anticipated to be a promising future market for the next five years. The region has some of the major economies and the government that aids the emergency trauma treatments and thus creates a definite market growth for the global electronic skin market. Asia Pacific is expected to show lucrative growth with India as the most growing country on the grounds of alarming growth in the number of road accidents and road kills caused. Moreover, rising geriatric population in Japan and China, increasing instances of advanced medical facility along with developing economies are probably the major causes of the region’s exceptional growth in the next five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Electronic Skin Market By Product (Electronic Skin Patches v/s Electronic Skin Suit) By Component (Stretchable Circuits, Photovoltaics System, Stretchable Conductors, Electro-Active Polymers) By Sensor Type (Tactile Sensors, Chemical Sensors, Electrophysiological Sensors) By Application (Health Monitoring Systems, Drug Delivery Systems, Cosmetics) By Distribution Channel (Hospitals & Clinics, Cosmetic Companies, Others) By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of global electronic skin and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global electronic skin market.
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