Electronic Skin Market
Report ID: SQMIG35F2008
Electronic Skin Market Size, Share, Growth Analysis, By Product Type (Electronic Patches, Electronic Skin Suits), By Component (Stretchable Circuits, Photovoltaics Systems), By Sensors (Tactile Sensors, Chemical Sensors), By Application (Health Monitoring Systems, Drug Delivery Systems), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35F2008 |
Region:
Global |
Published Date: February, 2024
Pages:
260
|Tables:
118
|Figures:
77
Electronic Skin Market Insights
Global Electronic Skin Market size was valued at USD 7.23 billion in 2022 and is poised to grow from USD 8.86 billion in 2023 to USD 44.91 billion by 2031, growing at a CAGR of 22.5% during the forecast period (2024-2031).
Electronic skin includes flexible printed electronics that assist in sensing pressure and temperature. High demand for this in the wearable electronics sector will propel the market growth. Electronic Skin and skin patches are being used for a variety of applications such as monitoring diabetes, cardiovascular disorders, pregnancy, detecting abnormalities in the brain, and others.
In addition, the increasing requirement for these components in wearable electronics is also anticipated to boost the Market growth.
US Electronic Skin Market is poised to grow at a sustainable CAGR for the next forecast year.
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Electronic Skin Market Segmental Analysis
Global Electronic Skin Market is segmented by product type, component, sensors, application and region. Based on product type, the market is segmented into electronic patches and electronic skin suits. Based on component, the market is segmented into stretchable circuits, photovoltaics systems, stretchable conductors and electroactive polymers. Based on sensors, the market is segmented into tactile sensors, chemical sensors, electrophysiological sensors and others. Based on application, the market is segmented into health monitoring systems, drug delivery systems and cosmetics. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Electronic Skin Market Analysis by Product Type
By product type, the electric skin patches provide for the storage of energy as well as communication using the sensors in these patches. The demand for these patches in the personal care industry.
It facilitates continual communication with the doctor.
These patches enable the hospital to monitor the patient for a longer period of time and receive all the real-time data, which is very helpful in preserving the patients' or clients' health.
These patches are specifically intended for diabetes monitoring.
It is incredibly helpful for patient monitoring and temperature sensing.
Electronic Skin Market Analysis by Application
By Application, the health monitoring systems are expected to grow well during the forecast period. This segment is expected to dominate the market in the coming years as it has done in the past period. This segment held a market share of about 39% in recent years.
There's an increased use of electronic skin in various diseases like cardiovascular diseases and chronic diseases. This technology happens to be user-friendly as they are easy to use, and patients can monitor their health. The drug delivery system segment is also expected to grow well in the coming years. As it happens to be a non-invasive method therefore the market is expected to grow.
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Electronic Skin Market Regional Insights
Asia Pacific held the largest Global Electronic Skin Market share in 2021 owing to high demand for e-skin products in cosmetics and drug delivery systems. Increasing usage of e-skin patches in numerous applications such as biomedical, industrial robotics, artificial prosthetics, and others are expected to boost growth of the market during the forecast period. Moreover, companies are focusing on the implementation of Machine Learning (ML) and Artificial Intelligence (AI) in e-skin development in this region.
Increasing competition in the market and high investments made by the research departments and government will contribute to growth of the e-skin market.
North America accounted for largest revenue share in 2021 and is expected to register a steady growth rate over the forecast period owing to increasing geriatric population and increasing number of innovative e-skin product launches.
In addition, presence of major players in the industry such as VivaLnK, Inc., Xsensio, and iRhythm Technologies among others are investing in R&D activities and are continuously innovating their products, which is expected to boost the market during the forecast period.
Europe is expected to grow at a steady rate during the forecast period owing to rise in the application of e-skin in various industries. Government initiatives to reduce the risk of non-communicable diseases in adults and children are also boosting growth of the market. Continuous technological advancement and developed medical infrastructure are also contributing to the growth of the market in the region.
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Electronic Skin Market Dynamics
Electronic Skin Market Drivers
Increasing Concerns Related to Chronic Ailments in Geriatric Population will Boost Demand for Electronic Skin in Global Market
- The rising in geriatric population acts as one of the major factors driving the growth of electronic skin market as they are more prone to chronic diseases such as diabetes, cancer, and heart diseases. The subsequent rise in the incidence of chronic diseases among elderly people accelerating consistent monitoring have a positive impact on the market. Electronic Skin patches and related equipment facilitate the remote management of chronic diseases while providing complete independence to the patient. Chronic changes in diet and lifestyle due to increasing health problems in the average population and the growing awareness about fitness are expected to boost the market. Growing awareness regarding this technology in the healthcare sector and the ever-rising acceptance of remote patient monitoring equipment are anticipated to propel the global market during the projected period.
Electronic Skin Market Restraint
High Costs and Complex Designing to Hinder Market Growth
- The global electronic skin market is constrained by a high initial setup cost, which is anticipated to impede market expansion during this projected period. Global market growth is also anticipated to be hampered by sophisticated designing and material deterioration.
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Electronic Skin Market Competitive Landscape
Global Electronic Skin Market is highly fragmented with the presence of several small and large market players operating all over the world. Major companies of the market are implementing several business strategies such as new product launches, acquisition & mergers, collaboration, and partnerships for the expansion of their geographical presence and their product portfolio.
Electronic Skin Market Top Player’s Company Profiles
- MC10 (US)
- Xenoma (Japan)
- VivaLNK (US)
- GENTAG, Inc. (US)
- Dialog Semiconductors (UK)
- Bloomlife (US)
- Abbott (US)
- Dexcom, Inc. (US)
- Medtronic (Ireland)
- Insulet Corporation (US)
- Boston Scientific Corporation (US)
- Koninklijke Philips N.V. (Netherlands)
- Biolinq Incorporated (US)
- Zio By iRhythm Technologies, Inc. (US)
- VitalConnect (US)
- The Surgical Company (Netherlands)
- Senseonics Ltd. (US)
- Active Environmental Solutions (Australia)
- ScottCare (US)
- Bittium (Finland)
Electronic Skin Market Recent Developments
- In January 2020, Vivalnk Inc. announced that the company’s wearable sensors are helping the Chinese government to combat the spread of corona virus in China. Shanghai Public Health Clinical Center (SPHCC) has started utilizing wearable sensors in their special wards as the wearable sensors were modelled post the previous SARS outbreak.
Electronic Skin Key Market Trends
Global Electronic Skin Market to Witness Launch of Many Novel Products in Coming Years
- Due to the potential advantages of electronic skin, there will likely be a rise in demand for and acceptance of the technology. These patches are used in many different fields, including the detection of brain abnormalities, cardiovascular problems, diabetes, and pregnancy. Moreover, an increase in demand for electronic skin in wearable electronics is also expected to boost the market growth over the forecast period. Additionally, the increase in the number of product launches, as well as product approval activities, will drive market growth significantly.
Electronic Skin Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Electronic Skin Market analysis, the growing demand and the approval of electronic skin due to its potential advantages will propel the market growth. The increase in funding by various organizations for developing technologically progressive these products will shape the future of the market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 7.23 billion |
| Market size value in 2031 | USD 44.91 billion |
| Growth Rate | 22.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Electronic Skin Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Electronic Skin Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Electronic Skin Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Electronic Skin Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Electronic Skin Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Electronic Skin Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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