|
Forecast Period
|
2024-2028
|
|
Market Size (2022)
|
USD 4.92 Billion
|
|
CAGR (2023-2028)
|
9.58%
|
|
Fastest Growing Segment
|
Hospitals & Clinics
|
|
Largest Market
|
North America
|
Market Overview
Global Electronic Skin Patches Market
has valued at USD 4.92 Billion in 2022 and is anticipated to project impressive
growth in the forecast period with a CAGR of 9.58% through 2028. Electronic
skin patches are utilized to anchor a device onto the patient's or user's skin,
serving a specific purpose. These patches, when affixed to the skin, integrate
sensors, actuators, processors, and communication technology. This enables the
device to establish an internet connection and enhance its intelligence.
Various significant application areas have profoundly impacted health and
quality of life. Notably, cardiovascular monitoring and diabetes management
have experienced exponential growth, generating substantial annual revenues.
Electronic skin patches represent the
latest wave in health monitoring. Their non-intrusive design ensures comfort
and discretion. These patches encompass a range of functionalities, including
sweat, axillary temperature, motion, and biopotential (TENS, EMS) monitoring.
They are employed across different sectors and product categories. In
cardiovascular monitoring, they encompass traditional ECG options, monitoring
devices for inpatients and outpatients, as well as specialized products like
Holter monitors, mobile cardiac telemetry devices, and other event monitors.
Key Market Drivers
Growing
Number of Start-ups and Rise in the Development of Innovative Skin Patches
With the growing demand for
technological innovations in the healthcare field, numerous start-ups are
emerging, each striving to stay ahead of the technology curve in order to
strengthen their competitive advantage in the electronic skin patches market.
These start-ups, along with renowned universities, are actively working to
bring advanced electronic skin sensor patches into the market, revolutionizing
the way healthcare is monitored and delivered. One such notable start-up is
XSENSIO SA, which has developed groundbreaking wearable devices capable of
tracking and analyzing biochemical information on the wearer's skin surface.
These cutting-edge devices provide valuable insights and data that can enhance
personalized healthcare and wellness.
In addition, scientists at the
prestigious Georgia Institute of Technology have made significant strides in
the development of wireless wearable devices. These devices are designed to
measure vital signs such as heart rate, electrocardiogram, respiratory rate,
and motion activity, thereby providing a comprehensive overview of an
individual's health status in real-time.
Furthermore, there have been remarkable
advancements in the field of alcohol monitoring through wearable technology.
Scientists have successfully created flexible, wearable patches capable of
detecting blood-alcohol levels from the user's sweat. This breakthrough
innovation has the potential to revolutionize alcohol monitoring practices,
ensuring public safety and promoting responsible consumption. These remarkable
developments in the electronic skin patches market signify the ongoing efforts
to improve healthcare delivery and monitoring through cutting-edge technology.
As the demand for innovative solutions continues to rise, we can expect even
more exciting advancements and collaborations in the near future.
High
Need for Constant Physiological Monitoring and Treatment for Hospitalized
Patients
The rising burden of acute or chronic
conditions has amplified the necessity for continuous monitoring of both
inpatients and outpatients. Heart diseases, cancers, diabetes, chronic lower
respiratory syndrome, stroke, cerebrovascular diseases, viral infections, and
other ailments contribute significantly to global mortality. Among these,
cardiovascular diseases claim approximately 17.9 million lives annually, making
it a foremost cause of death worldwide. Consequently, the demand for constant
monitoring of heart rate, pulse rate, electrocardiogram, and other
cardiac-related parameters has surged. In response, the electronic skin patches
market has emerged as a solution to monitor these physiological indicators for
heart-related diseases and various other medical conditions.
Remote
Patient Monitoring Driving the Adoption of Electronic Skin Patches
Remote patient monitoring is
revolutionizing healthcare by harnessing innovative technology tools to collect
and track patient data beyond the confines of traditional medical settings.
This approach is gaining significant traction, especially in scenarios
involving elderly patients, pandemics, and other relevant situations where
continuous monitoring is paramount.
One of the key drivers of remote patient
monitoring is the adoption of electronic skin patches, which enable seamless
transfer of patient information to healthcare providers or electronic medical
records. This has not only streamlined the process but has also given a
significant boost to the electronic skin patches market.
Cardiology, being at the forefront of
medical advancements, was among the first fields to embrace remote patient
monitoring as a standard practice. By remotely transitioning between compact
cardiac monitoring devices during the monitoring period, doctors and patients
have experienced a remarkable reduction in doctor-hospital visits, leading to
improved efficiency and convenience. With the increasing prevalence of various
diseases, the adoption of remote patient monitoring continues to rise. This
game-changing approach ensures timely and accurate monitoring of patient
health, enabling healthcare providers to provide proactive and personalized
care, ultimately leading to better patient outcomes.
Increase
in Adoption of Healthcare Applications & Smart Wearables
In recent years, there has been a
significant increase in the adoption of connected wearable medical devices,
driven by the multitude of benefits they offer. These devices provide
continuous monitoring of vital signs, enabling early detection and prediction
of potential health issues. With real-time data collection, healthcare
professionals gain valuable insights into patient health, allowing for more
personalized and proactive care. Moreover, these devices empower patients by
involving them in their own healthcare journey.
One notable advancement in this field is
the seamless integration of wearable devices with electronic skin patches. This
integration enhances convenience and usability for users, as the patches can be
easily applied and worn without discomfort. The global electronic skin patch
market is experiencing rapid growth due to this integration, as it expands the
range of applications and possibilities for healthcare monitoring.
To further streamline the data
collection process, mobile or smartwatch applications are utilized in
conjunction with these patches. These applications enable direct transmission
of health-related data to healthcare providers, facilitating real-time monitoring
and analysis. By leveraging these technologies, users can stay connected with
their healthcare professionals and take proactive steps towards maintaining
their well-being. Overall, the growing adoption of connected wearable medical
devices, coupled with the integration of electronic skin patches and mobile
applications, is revolutionizing the way healthcare is delivered and monitored.
The continuous advancements in this field promise to further improve patient
outcomes and empower individuals to take control of their health.
Download Free Sample Report
Key Market Challenges
Design
Complexity of Electronic Skin Patches
The design complexity of electronic skin
patches, while offering numerous potential benefits, is paradoxically leading
to a decrease in their demand. Electronic skin patches are thin, flexible, and
wearable devices that can monitor various health parameters, deliver
medications, or even serve as user interfaces for controlling electronic
devices. However, their intricate design poses several challenges that limit
their widespread adoption. The complexity of electronic skin patches often
results in higher manufacturing costs. These devices require precise
engineering, advanced materials, and intricate integration of sensors,
electronics, and power sources. As a result, the production costs are
relatively high, making them less affordable for both consumers and healthcare
systems.
The technical sophistication of these
patches can lead to issues related to durability and reliability. With multiple
components and sensors packed into a small, flexible package, electronic skin
patches are susceptible to wear and tear, malfunction, and sensor degradation
over time. Users may encounter difficulties in maintaining and repairing these
devices, which can deter adoption.
Furthermore, the complexity of
electronic skin patches can be a barrier to regulatory approval and
standardization. Ensuring the safety, efficacy, and consistency of these
devices can be challenging, leading to delays in market entry and a lack of
clear guidelines for manufacturers.
Lack
of Data Security
The lack of data security in electronic
skin patches has become a prominent concern, significantly impeding their
adoption and decreasing their demand. These wearable devices, designed to
monitor health parameters and transmit data wirelessly, present a unique set of
security challenges that have raised legitimate apprehensions among users and
healthcare providers. Electronic skin patches often collect sensitive
health-related data, including vital signs, medication schedules, and even
patient identifiers. The transmission and storage of such personal information
make them attractive targets for cyberattacks and data breaches. The potential
for unauthorized access to this sensitive data is a major deterrent for users,
particularly in an era where data privacy is a paramount concern.
The small size and limited computing
power of electronic skin patches can make it challenging to implement robust
security measures. These devices may lack encryption capabilities or secure
communication protocols, leaving them vulnerable to interception and tampering.
As a result, individuals and healthcare institutions are reluctant to use
electronic skin patches, fearing the compromise of their data integrity. Furthermore,
the complexity of electronic skin patches can be a barrier to regulatory
approval and standardization. Ensuring the safety, efficacy, and consistency of
these devices can be challenging, leading to delays in market entry and a lack
of clear guidelines for manufacturers.
Moreover, user-friendliness can become a
concern with highly complex electronic skin patches. Patients and individuals
may find it challenging to properly apply and use these devices, which may
require specific training or support. This can limit their adoption, especially
among elderly or less tech-savvy populations. While electronic skin patches
offer promising capabilities in healthcare and technology, their design
complexity presents significant hurdles. High manufacturing costs, durability
issues, regulatory challenges, and user-friendliness concerns are all factors
contributing to the decreasing demand for these devices. Addressing these
issues through innovation, standardization, and cost reduction efforts may be
essential to unlock the full potential of electronic skin patches in the
future.
Key Market Trends
Growing
Number of Start-ups and Rise in the Development of Innovative Skin Patches
With the increasing demand for
technological innovations in the healthcare sector, a number of start-ups are
emerging to stay at the forefront of the technology curve and enhance their
competitive advantage in the market for electronic skin patches. Several
noteworthy start-ups and academic institutions are actively working towards
introducing advanced electronic skin sensor patches to the market. One such
example is XSENSIO SA, which has developed cutting-edge wearable devices for
monitoring biochemical information on the surface of the wearer's skin.
Additionally, researchers at the Georgia Institute of Technology have created
wireless wearable devices capable of measuring heart rate, electrocardiogram,
respiratory rate, and motion activity. Furthermore, some scientists have
successfully developed a flexible, wearable patch that can detect blood-alcohol
levels through the user's sweat.
Remote
Patient Monitoring
Remote patient monitoring utilizes
innovative technology tools to collect and track patient data outside
traditional medical settings. With the increasing prevalence of various
diseases, healthcare providers are increasingly adopting remote patient monitoring,
particularly for conditions such as elderly patients and pandemics. This shift
has led to the growing use of electronic skin patches to directly transfer
patient information to healthcare providers or electronic medical records,
thereby boosting the electronic skin patches market. Cardiology was among the
first therapy areas to incorporate remote patient monitoring into standard
practice, streamlining doctor-hospital visits by remotely switching monitors
between compact cardiac monitoring devices during the monitoring period.
Segmental Insights
Application Insights
The Electronic Skin Market is categorized into Health Monitoring
systems, Drug Delivery Systems, and Cosmetics and others, based on application.
In 2022, the health monitoring sector emerged as the dominant market segment,
driven by its extensive usage in medical fields such as diabetes, cardiology,
and neurology. Furthermore, the user-friendly nature of the technology enables
patients to independently apply patches for muscle, heart, and brain activity
testing. The drug delivery systems segment is projected to exhibit the highest
growth rate during the forecast period, primarily due to its non-invasive,
real-time dynamic therapeutic capability. These electronic skins have the
ability to store data, monitor muscle movement, and deliver medication through
the skin based on the stored data patterns. Therefore, these factors are
expected to drive the demand in the market.
Component Insights
Based on
the component segment, stretchable circuits have emerged as the dominant force
in the market, capturing the largest revenue share in 2022. These circuits
offer a revolutionary platform for interfacing with soft tissue in regenerative
medicine, continuous health monitoring, and robotic control and feedback.
Moreover, they enable the measurement of various biosignals on human skin
without impeding daily activities.
Electroactive
Polymers (EAP) also hold a significant market share due to their biocompatible
nature. EAPs are polymers that exhibit dimensional changes in response to an
applied electrical field. They possess excellent electronic conductivity and
high reversible ion storage capacity. As a special class of material, they can
conform to surfaces of different shapes and exhibit remarkable strain
capabilities with low moduli. These features are gaining momentum in wearable
sensor applications and soft tissue interfacing.
Download Free Sample Report
Regional Insights
The North
American region has maintained dominance in the market, holding the largest
share in the past period. It is expected to continue its dominance in the
coming years, driven by the increasing number of aging population. Continuous
research and development efforts have resulted in innovative products within
the North American region. The introduction of new, highly beneficial
technologies will further contribute to the market growth. Additionally, the
availability of reimbursement policies in this region will play a significant
role in driving market expansion in the future. Several prominent companies
based in North America are poised to stimulate the demand for electronic skin.
In the
forecast period, the Asia Pacific region is also projected to experience
significant growth. This can be attributed to the rise in chronic diseases and
the growing geriatric population. The demand for electronic skin in the Asia
Pacific region, particularly due to the aging population, is notably high.
Recent Developments
- In August
2022, Xenoma and CYBERDYNE, two companies specializing in printed circuit
fabric and Cybernics, joined forces to develop solutions that enhance users'
physical capabilities in their daily lives.
- Recently,
researchers from the Singapore National University achieved a breakthrough in
the development of stretchable, touch-sensitive, self-healing, and transparent
electronic skin. This innovative product draws inspiration from jellyfish.
- Stanford University has made significant strides in the advancement
of flexible and durable electronic skin in recent years. By utilizing thousands
of transistors, this technology enables the electronic skin to stretch up to
double its original size. Its applications are expected to extend to robotics
and prosthetics.
Key Market Players
- Vitalconnect Inc.
- Leaf Healthcare Inc.
- Quad industries SA
- Loreal SA
- Sensium Healthcare Ltd
- iRhythm Technologies Inc.
- VivaLNK, Inc.
- GE Healthcare
- DexCom Inc.
- MC10, Inc.
|
By Component
|
By Application
|
By End User
|
By Region
|
|
- Stretchable Circuits
- Photovoltaic Systems
- Stretchable
Conductors
- Electroactive
Polymers
|
- Health Monitoring
Systems
- Drug Delivery Systems
- Cosmetics
- Others
|
- Hospitals &
Clinics
- Ambulatory Surgical
Centers
- Cosmetic Companies
- Others
|
- North America
- Europe
- Asia Pacific
- South America
- Middle East &
Africa
|
|
|
|
|
|
Report Scope:
In this report, the Global Electronic
Skin Patches Market has been segmented into the following categories, in
addition to the industry trends which have also been detailed below:
- Electronic Skin Patches Market, By Component:
o
Stretchable Circuits
o
Photovoltaic Systems
o
Stretchable Conductors
o
Electroactive Polymers
- Electronic Skin Patches Market, By Application:
o
Health Monitoring Systems
o
Drug Delivery Systems
o
Cosmetics
o
Others
- Electronic Skin Patches Market, By End User:
o
Hospitals & Clinics
o
Ambulatory Surgical Centres
o
Cosmetic Companies
o
Others
- Electronic Skin Patches Market, By Region:
o
North
America
§
United
States
§
Canada
§
Mexico
o
Europe
§
France
§
United Kingdom
§
Italy
§
Germany
§
Spain
o
Asia-Pacific
§
China
§
India
§
Japan
§
Australia
§
South
Korea
o
South
America
§
Brazil
§
Argentina
§
Colombia
o
Middle
East & Africa
§
South
Africa
§
Saudi
Arabia
§
UAE
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in the Global Electronic Skin Patches Market.
Available Customizations:
Global Electronic Skin Patches market report with the given market data,
Tech Sci Research offers customizations according to a company's specific
needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
Global Electronic Skin Patches Market is an upcoming report to be released
soon. If you wish an early delivery of this report or want to confirm the date
of release, please contact us at [email protected]