High demand for electronic skin in the healthcare sector to treat diabetes and cardiology diseases is driving market growth.
New York, December 21,2021 – The global electronic skin market is expected to reach a market size of USD 20.02 Billion in 2027 and register a robust CAGR over the forecast period, according to the latest report by Reports and Data. High demand for electronic skin in the healthcare sector and increasing growth in the robotics industry are key factors driving growth of the global electronic skin market. Advancements in technology and incorporation of Artificial Intelligence (AI) in the healthcare sector is supporting revenue growth of the market.
Electronic skin is utilized in robotics and healthcare applications due to it being self-powered, self-healing, and for excellent stretchability. Electronic skin is used in robotics to offer a sense of touch, and in the healthcare industry to track health and fitness-related ailments and conditions.
Electronic skin is used for a range of applications such as to monitor cardiovascular diseases, conditions during pregnancy, patients with diabetes, and in the detection of abnormalities in the brain. Growth of the electronic skin market is expected to be driven significantly by increasing range and variety of applications this technology offers in industrial & residential robotics, healthcare, and prosthetics. Factors such as low awareness and low investment in research and development in developing economies are expected to restrain adoption of this technology to a certain extent. High cost and complex design of the technology will also limit demand for electronic skin technology.
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The COVID-19 impact:
The COVID-19 pandemic has impacted the electronic skin market positively. The virus has impacted the healthcare industry significantly, creating need for real-time health monitoring of patients. Market players are focused on developing electronic skin patches that can track a patient’s temperature and heart rate. These electronic devices provide remote and continuous monitoring of a patient’s body temperature.
Further key findings in the report
- Electronic skin patches are reliable and convenient, and ideal for remote monitoring in in-patient and out-patient cases. Skin patches are commonly used in diabetes and cardiac management, and for temperature sensing, drug delivery, newborn monitoring, and smart wound care, among others.
- Stretchable conductors are essential in stretchable electronic devices, which are used in soft robotics and next-generation wearables. Their ability to enhance electronic performance is a key factor driving demand.
- Health monitoring systems segment accounted for largest revenue share in 2019. Growing application of electronic skin in neurology, cardiology, and diabetes for disease treatment is driving revenue growth of this segment.
- Asia Pacific market revenue growth rate is expected to remain comparatively higher than other regional markets over the forecast period. This can be attributed to increasing geriatric population and rising prevalence of diabetes in countries in the region.
- Key participants include Xensio, MC10, VivaLnk, Inc., Xenoma, iRhytm Technologies, Philips, Plastic Electronics GMBH, Dialog Semiconductor, Holst Center, and Koninklijke Philips N.V.
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For the purpose of this report, Reports and Data has segmented the global electronic skin market on the basis of product, component, sensors, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Electronic patches
- Electronic skinsuits
Component Outlook (Revenue, USD Billion; 2017-2027)
- Photovoltaics systems
- Stretchable circuits
- Stretchable conductors
- Electroactive polymers
Sensors Outlook (Revenue, USD Billion; 2017-2027)
- Chemical sectors
- Tactile sensors
- Electrophysiological Sensors
Application Outlook (Revenue, USD Billion; 2017-2027)
- Health monitoring systems
- Drug delivery systems
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Saudi Arabia
- Rest of MEA
- Latin America
- Rest of LATAM
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