Electronic Skin Market Share, Size, Key Players, Trends, Competitive And Regional Forecast To 2027

High demand for electronic skin in the healthcare sector to treat diabetes and cardiology diseases is driving market growth.

NEW YORK, NY, UNITED STATES, March 30, 2022 /EINPresswire.com/ -- The global electronic skin market is expected to reach a market size of USD 20.02 Billion in 2027 and register a robust CAGR over the forecast period, according to the latest report by Reports and Data. High demand for electronic skin in the healthcare sector and increasing growth in the robotics industry are key factors driving growth of the global electronic skin market. Advancements in technology and incorporation of Artificial Intelligence (AI) in the healthcare sector is supporting revenue growth of the market.

Electronic skin is utilized in robotics and healthcare applications due to it being self-powered, self-healing, and for excellent stretchability. Electronic skin is used in robotics to offer a sense of touch, and in the healthcare industry to track health and fitness-related ailments and conditions.

Electronic skin is used for a range of applications such as to monitor cardiovascular diseases, conditions during pregnancy, patients with diabetes, and in the detection of abnormalities in the brain. Growth of the electronic skin market is expected to be driven significantly by increasing range and variety of applications this technology offers in industrial & residential robotics, healthcare, and prosthetics. Factors such as low awareness and low investment in research and development in developing economies are expected to restrain adoption of this technology to a certain extent. High cost and complex design of the technology will also limit demand for electronic skin technology.

The COVID-19 impact:
The COVID-19 pandemic has impacted the electronic skin market positively. The virus has impacted the healthcare industry significantly, creating need for real-time health monitoring of patients. Market players are focused on developing electronic skin patches that can track a patient’s temperature and heart rate. These electronic devices provide remote and continuous monitoring of a patient’s body temperature.

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Leading companies operating in the market and profiled in the report include:

Xensio, MC10, VivaLnk, Inc., Xenoma, iRhytm Technologies, Philips, Plastic Electronics GMBH, Dialog Semiconductor, Holst Center, and Koninklijke Philips N.V.

Market Overview:

The pharmaceutical and healthcare sector is rapidly expanding in terms of revenue in the recent years and is expected to register robust CAGR over the forecast period of 2027. Factors such as rapid advancements in the pharma and healthcare sector, adoption of latest technologies, tools and equipment, emergence of various new diseases and improvements in healthcare facilities and infrastructure. In addition, rising healthcare expenditure, increasing per capita income in the developing countries and favorable reimbursement policies are fueling market growth. Increasing funds by various public and private sectors and increasing investments to develop enhanced products and devices are also boosting market growth. Moreover, increasing preference for ambulatory services and point of care services, and increasing funds for research centers and hospitals for drug discovery is expected to fuel market growth going ahead.

Competitive Landscape:

The report provides details about competitive landscape of global Electronic Skin market focusing on every market player, its global position, revenue generation product portfolio, company overview, financial planning and business expansion plans. The global Electronic Skin market is quite competitive and comprises various key players at global and regional levels. Key players are investing in research and development activities, and strategizing various plans such as mergers and acquisitions, partnerships, joint ventures, new product launches, to enhance their product base and strengthen their market position.

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Electronic Skin Market Segmentation:

Product Outlook (Revenue, USD Billion; 2017-2027)

Electronic patches
Electronic skinsuits

Component Outlook (Revenue, USD Billion; 2017-2027)

Photovoltaics systems
Stretchable circuits
Stretchable conductors
Electroactive polymers

Sensors Outlook (Revenue, USD Billion; 2017-2027)

Chemical sectors
Tactile sensors
Electrophysiological Sensors
Others

Application Outlook (Revenue, USD Billion; 2017-2027)

Health monitoring systems
Drug delivery systems
Cosmetics

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Regional Outlook:

North America (U.S., Canada, Mexico)
Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
Latin America (Brazil, Rest of LATAM)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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