Market Research Report
Global Electronic Skin Patches Market Forecast 2021-2028
|Published by||Inkwood Research||Product code||980649|
|Published||Content info||215 Pages
Delivery time: 2-3 business days
|Global Electronic Skin Patches Market Forecast 2021-2028|
|Published: January 7, 2021||Content info: 215 Pages||
The global electronic skin patches market is evaluated to project a CAGR of 16.89%, during the forecast period of 2021 to 2028. The market growth is attributed to factors, such as, the surging demand for periodic health monitoring, the growing incidence of lifestyle-associated and chronic diseases, the rise in fitness regimens among the adult population, and the increasing geriatric population.
The skin is characterized by the outer covering of the human body, capable of sensing temperature, pressure, as well as various other complex environmental conditions. Electronic skin patches entail a thin layer of fabric, used to mimic the human skin's properties. It particularly includes the sensitivity to temperature and pressure, which helps understand the surrounding, in addition to external aspects like heat and touch.
Businesses expand their operations through consistent research and development, using innovative solutions, like, wearable technology, smart clothing, and smart tattoos. Electronic skin primarily tracks respiration, heart rate, muscle movement, and other health statistics. The demand for electronic skin patches observes a considerable increase, owing to the presence of an organic circuit, to be worn on the body. Its wide range of applications includes electronic tattoos to monitor health, among others, thereby making it suitable for the end-user.
The global electronic skin patches market growth analysis entails the assessment of Europe, the Asia Pacific, and North America. North America is set to harbor the greatest market share by 2028, due to factors, such as, the increasing incidence of chronic as well as lifestyle-related diseases like diabetes and cardiovascular conditions. The market is further fueled by the increased awareness concerning the importance of such diseases' early diagnosis.
However, the high costs associated with electronic skin patches are expected to hinder the market growth.
Technical innovations linked with the introduction of new and enhanced extracts, especially across personal care products, are anticipated to propel the product demand. Hence, competitive rivalry is projected to remain high, during the forecast period. Key players operating in the market include, DexCom Inc, Medtronic PLC, Koninklijke Philips NV, Abbott Laboratories, GE Healthcare, etc.