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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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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