Electronic Skin Market Is Expected To Reach USD 20.01 Billion By 2027 At A CAGR Of 20.4 percent.
Maximize Market Research has published a report on the Electronic Skin Market that provides a detailed analysis for the forecast period of 2022 to 2027.
Electronic Skin Market Scope:
The report provides comprehensive market insights for industry stakeholders, including an explanation of complicated market data in simple language, the industry’s history and present situation, as well as expected market size and trends. The research investigates all industry categories, with an emphasis on key companies such as market leaders, followers, and new entrants. The report includes a full PESTLE analysis for each country. A thorough picture of the competitive landscape of major competitors in the Electronic Skin market by goods and services, revenue, financial situation, portfolio, growth plans, and geographical presence makes the study an investor’s guide.
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Electronic Skin Market Overview:
The increasing use of electronic skin due to benefits such as self-healing and flexibility is a major driving factor. Because synthetic skin replicates human sensory capacities, it has several uses in health monitoring technology. Human skin’s sensitivity and elasticity are two significant aspects that set it apart from other wearable technologies. The growing number of product releases and quick FDA approvals are also driving the market growth. For example, Actuators and sensors with suitable processing, connectivity, and energy storage are included in electronic skin patches. Electronic skin patches are gaining popularity due to their usage in a variety of personal care applications.
Electronic Skin Market Dynamics:
Wearable electronic devices with skin-like qualities enable real-time and continuous monitoring of human biomedical parameters such as temperature, tissue pressure, electrolyte balance, disease-related biomarkers, and bodily movement. Many developments in self-healing electronic skin, lightning electronic skin, and sweating electronic skin are anticipated in the market.
Rising research and development in the field of artificial skin is also driving the market forward. Researchers in Korea have created multitasking skin that can detect temperature, pressure, and sound at the same time. Scientists are always researching to mimic the olfactory, taste, and tactile sensations. Furthermore, the usage of electronic skin in prostheses, biomedical, and robotic devices is opening up new commercial opportunities.
The introduction of 3D printing with artificial intelligence has sparked interest in the fields of health monitoring, medication delivery, and therapeutic applications. The growing acceptability of electronic skin in a wide range of applications such as cardiovascular, diabetes, anomaly detection, and pregnancy is driving the advancement of e-skin technology. Many ongoing studies are focusing on these technologies, particularly in combination.
Electronic Skin Market Regional Insights:
North America led the market in 2021, accounting for 40 percent of total sales. At the end of the forecast period, the area is likely to retain its dominance. The market is divided into five regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa (MEA). The growing senior population and the increasing number of product launches are driving growth in North America. Continuous technological progress and attractive reimbursement policies are also helping to drive the region’s market growth. Furthermore, the presence of key industrial players is boosting growth in the region.
During the forecast period, the Asia Pacific market is expected to grow at the quickest rate. The expanding elderly population and the growing number of diabetic patients are the two most important drivers supporting market growth. As per the American Diabetes Association, Asia is home to more than 60% of diabetics. Furthermore, the rapidly aging population is driving up demand for the electronic skin industry. According to the UNFPA, by 2050, one in every four persons in the Asia Pacific would be above the age of 60.
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Electronic Skin Market Segmentation:
By Product:
- Electronic skinsuits
- Electronic patches
By Component:
- Stretchable circuits
- Photovoltaic systems
- Stretchable conductors
- Electroactive polymers
By Sensors:
- Tactile sensors
- Chemical sectors
- Electrophysiological Sensors
- Others
By Application:
- Health Monitoring Systems
- Wearable Technology
- Others
Electronic Skin Market Key Competitors:
- MC10
- Physical Optics Corporation
- Dialog Semiconductor
- Intelesens Ltd
- 3M
- Koninklijke Philips N.V.
- Plastic Electronics GmbH
- ROTEX Global
- SMARTLIFEINC LIMITED
- VivaLNK
- Xenoma
- Xsensio.
- Chrono Therapeutics
- iRhythm Technologies, Inc
- Quad Industries
- Bloomlife
- Dexcom, Inc
- Insulet Corporation
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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