Press Release

Electronic Skin Patches Market to Grow with a CAGR of 9.58% through 2028

Rising demand for connected monitoring devices and increasing research regarding the use of artificial skin is expected to drive the Global Electronic Skin Patches Market growth in the forecast period, 2024-2028.

 

According to TechSci Research report, “Electronic Skin Patches Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Electronic Skin Patches Market stood at USD 4.92 billion in 2022 and is anticipated to grow with a CAGR of 9.58% in the forecast period, 2024-2028. The growth of electronic skin patches can be primarily attributed to key drivers which include the increasing demand for electronic skin patches due to the growing geriatric population, the rising burden of chronic and lifestyle-associated diseases requiring continuous monitoring and treatment, the growing focus on personal health and fitness.

The increasing healthcare expenditure, the growing importance of point-of-care technologies, and the widespread adoption of mobile platforms, tablets, and smartphones. The market is expected to witness significant growth, driven by opportunities such as expansion in emerging countries and technological advancements in electronic skin patches. 

                                                                                             

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The global market for electronic skin patches is poised for remarkable growth due to government initiatives to enhance patient monitoring, increasing venture capital investments, and mounting pressure to reduce healthcare spending while improving patient outcomes. Other key factors include escalating healthcare costs and the rise in chronic diseases such as diabetes, cancer, and heart diseases.

Significant factors driving the growth of the electronic skin patches market encompass the need for continuous monitoring of physiological parameters, the growing adoption of wearable devices and mobile platforms for healthcare monitoring, the development of innovative skin patches, the high demand for remote patient monitoring, the emergence of digital tattoos as a trend, supportive initiatives and reimbursement policies, and the proliferation of start-ups specializing in electronic skin patches.

Electronic skin patches are devices affixed to a user's skin to fulfill specific functions. Equipped with sensors, actuators, processors, and communication technology, these patches enable connectivity to the internet, transforming them into smart devices. Their profound impact on health and quality of life is evident in various application areas, particularly cardiovascular monitoring and diabetes management, which generate significant annual revenues.

To stay ahead of the technology curve in the electronic skin patches market, numerous start-ups and universities are striving to introduce advanced sensor patches. For instance, XSENSIO SA has developed next-generation wearable devices that track biochemical information on the wearer's skin surface. Scientists at the Georgia Institute of Technology have created wireless wearable devices for measuring heart rate, electrocardiogram, respiratory rate, and motion activity. Other scientists have developed flexible, wearable patches that detect blood-alcohol levels from sweat.Initiatives by regulatory bodies like the FDA, including the Digital Health Innovation Action Plan, aimed at ensuring timely access to high-quality and safe digital health products, are also expected to drive market growth. However, factors such as interoperability challenges, limited awareness about electronic skin patch technology, and insufficient investments in developing countries like India may impede the growth of the global electronic skin patches market.

Electronic skin patches represent the latest wave in health monitoring, offering non-intrusive design that ensures comfort and discretion. These patches encompass various types of sensors, including sweat, axillary temperature, motion, and biopotential (TENS, EMS) patches, catering to different sectors and product categories. In cardiovascular monitoring, they range from traditional ECG options and monitoring devices for inpatients and outpatients to specialized products like Holter monitors, mobile cardiac telemetry devices, and other event monitors. Nevertheless, the growth of the market is anticipated to be impeded during the forecast period due to factors such as the scarcity of proficient medical professionals.


The Global Electronic Skin Patches Market is segmented into component, application, end user, regional distribution, and company.

Based on component, the stretchable circuits segment is poised to dominate the market in the coming years. With the highest compound annual growth rate during the forecast period, the stretchable circuits market is expected to experience significant expansion. These circuits play a crucial role in monitoring the health of patients and serve as a platform for the advancement of regenerative medicines. By seamlessly integrating with the human skin, these stretchable circuits efficiently monitor bio signals without disrupting the patient's day-to-day activities. This innovative technology offers a non-invasive solution that ensures accurate and convenient health monitoring for improved patient care. The ability of stretchable circuits to conform to the contours of the body allows for enhanced comfort and prolonged wearability, making them ideal for long-term monitoring applications.

Moreover, the flexibility of stretchable circuits enables them to be used in a wide range of medical devices, including wearable sensors, smart bandages, and electronic skins. These circuits can be customized to meet specific patient needs, providing personalized healthcare solutions. With their potential to revolutionize healthcare practices, the demand for stretchable circuits is anticipated to surge in the future. Furthermore, the integration of stretchable circuits with wireless communication technology allows for real-time data transmission and remote monitoring, enabling healthcare professionals to remotely monitor patients' health conditions and provide timely interventions. This capability is particularly beneficial for patients in remote areas or those with limited access to healthcare facilities.

 

Based on region, North America segment is expected to grow during the forecast period. North America dominates the global electronic skin patches market, primarily driven by factors such as the increasing prevalence of cardiac disorders and diabetes, advanced healthcare infrastructure, growing adoption of wearable devices for healthcare monitoring, rise in IoT-based applications, sensor miniaturization in medical devices, and the growing focus on personal health and fitness. Additionally, the U.S. holds the largest share in North America's electronic skin patches market, fueled by the rising demand for remote monitoring devices to manage chronic conditions like cardiovascular diseases and diabetes. In Europe, the sophisticated healthcare infrastructure and awareness of the advantages of electronic skin patches contribute to its significant market share. APAC is emerging as a promising region due to the population's emphasis on physical health and continuous physiological monitoring. Conversely, Latin America, the Middle East, and Africa have minimal shares in the global electronic skin patches market. 


Major companies operating in Global Electronic Skin Patches Market are:

  • Vitalconnect Inc.
  • Leaf Healthcare Inc.
  • Quad industries SA
  • Loreal SA
  • Sensium Healthcare Ltd
  • iRhythm Technologies Inc.
  • VivaLNK, Inc.
  • GE Healthcare
  • DexCom Inc.
  • MC10, Inc.

 

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“Electronic skin patches are experiencing a significant surge in demand, driven by the rising prevalence of chronic diseases like cardiovascular diseases, diabetes, and cancer. These diseases have become more common due to changing lifestyles, unhealthy eating habits, and a lack of physical activity. Moreover, the growing adoption of wearable health monitoring devices, rapid advancements in robotics, an increasing geriatric population, and government initiatives are anticipated to further propel the global market growth of electronic skin patches in the forecast period. The need for convenient and non-invasive monitoring solutions has amplified the importance of these patches, offering a promising future in healthcare and disease management.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Electronic Skin Patches Market Segmented By Component (Stretchable Circuits, Photovoltaic Systems, Stretchable Conductors, Electroactive Polymers), By Application (Health Monitoring Systems, Drug Delivery Systems, Cosmetics, Others), By End User (Hospitals & Clinics, Ambulatory Surgical Centres, Cosmetic Companies, Others), By Region and Competition, Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Electronic Skin Patches Market 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 Patches Market.

 

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