PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1479075
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1479075
The Electronic Skin Patch market is projected to grow from USD 15.0 billion in 2024 and is projected to reach USD 27.0 billion by 2029; it is expected to grow at a CAGR of 12.5% from 2024 to 2029. Rising geriatric population, Rapid advancements in flexible electronics, sensors and wireless technologies, and Increasing application beyond traditional healthcare to fuel the growth of Electronic Skin Patch market.
Scope of the Report | |
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Years Considered for the Study | 2020-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Billion) |
Segments | By Type, Wireless Connectivity, Application, End User and Region |
Regions covered | North America, Europe, Asia Pacific, RoW |
"Market for Monitoring & Diagnostic to hold the largest share during the forecast period."
Recent innovations have led to integrating multiple sensors within a single patch, enabling the simultaneous monitoring of vital signs and biomarkers. The applications of electronic skin patches for diagnosis and monitoring are vast and diverse, covering various healthcare settings and medical conditions. In critical care settings, such as ICUs these patches continuously monitor vital signs such as heart rate, blood pressure, respiratory rate, and temperature. Dexcom's continuous glucose monitoring (CGM) system, such as the Dexcom G7, is a crucial tool for diabetes management. This application of electronic skin patches enables individuals with diabetes to continuously monitor their blood glucose levels, eliminating the need for frequent finger pricks.
"Market for Connected electronic skin patches holds for largest market share during the forecast period."
Connected electronic skin patches leverage wireless technologies, such as BLE, Wi-Fi, cellular connectivity, RF technology, Ethernet, and near-field communication, to transmit real-time data collected by integrated sensors to receiving devices, such as smartphones, smartwatches, or medical consoles. These patches enable continuous monitoring of vital signs and other health metrics, including glucose levels, heart rate, blood pressure, and temperature. This real-time data transmission provides healthcare professionals with up-to-date information about the patient's health status, facilitating timely intervention for critical situations and enabling remote patient monitoring from a distance. Additionally, the energy efficiency of BLE technology makes it particularly suitable for wearable devices, such as electronic skin patches, ensuring long battery life and uninterrupted monitoring.
"Market for Cardiovascular Monitoring holds for second largest market share during the forecast period."
Electronic skin patches for cardiovascular monitoring provide a promising solution to this pressing need by enabling continuous and non-invasive monitoring of blood pressure, heart rate, and electrocardiogram (ECG) readings. One of the most significant applications of these patches is in electrocardiogram (ECG) monitoring. Patches equipped with ECG sensors, such as AliveCor's KardiaMobile, allow individuals to record their heart rhythm at any time, enabling early detection of potential arrhythmias, such as atrial fibrillation, which can cause serious health consequences. Additionally, these patches can be used to track heart rate variability (HRV), a valuable indicator of overall cardiovascular health and stress levels. Beyond ECG, electronic skin patches can monitor vital signs essential for cardiovascular health assessment. Patches, such as Philips PatchPoint, offer continuous monitoring of blood oxygen levels, heart rate, blood pressure.
"Market for Healthcare segment is projected to hold for largest share during the forecast timeline."
The healthcare industry accounts for major share in electronic skin patch market. The healthcare industry is further segmented into hospitals & clinics, home care/home diagnostics, and diagnostics laboratories. The market is driven with the increasing demand for connected devices with more advanced features and functionalities. The low-cost, disposable, body-worn electronic skin patches play a significant role in monitoring several physiological parameters that can be analyzed remotely to keep track of critical health indicators of patients and check whether they have taken their medication. Wearable patches replace various clinical devices, offering comfort and convenience to patients and healthcare professionals. Remote monitoring and telehealth are emerging concepts in the healthcare industry. Healthcare service providers are adopting electronic skin patches and wireless technologies to improve their relationship with patients. This would reduce the number of hospital visits of patients and bring down the cost of patient care. Sensor patches and related healthcare services continue to improve with better compliance and enhanced security and privacy features.
"North America is expected to have the largest market share during the forecast period."
North America presents promising growth prospects driven by the strong emphasis on self-care and health monitoring, alongside its well-established healthcare infrastructure and commitment to technological progress. The increasing penetration of mobile devices (smartphones, tablets, and PDAs) and the growing popularity of wearables are driving the demand for electronic skin patches. Consumers are aware of new technologies and capabilities of electronic skin patches and are early adopters of new technologies. In addition, consumers seek new and innovative skin patches for monitoring fitness. These factors are major contributors to the growth of the electronic skin patch market in the region.
The report profiles key players in the Electronic Skin Patch market with their respective market ranking analysis. Prominent players profiled in this report are 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), GENTAG, Inc. (US), VitalConnect (US), The Surgical Company (Netherlands), Senseonics Ltd. (US), Active Environmental Solutions (Australia), among others.
Apart from this, ScottCare (US), VivaLNK, Inc. (US), Bittium (Finland), Cardiomo (US), Seers Technology (South Korea), SIGKNOW (Taiwan), Cortrium (Denmark), Qardio, Inc. (US), LifeSignals (US), Blue Spark Technologies, Inc. (US), Epicore Biosystems (US), HIVOX BIOTEK INC. (US), IontoPatch (US)., are among a few emerging companies in the Electronic Skin Patch market.
Research Coverage: This research report categorizes the Electronic Skin Patch market based on Type, Wireless Connectivity, Application, End User, and region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the Electronic Skin Patch market and forecasts the same till 2029. Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the Electronic Skin Patch ecosystem.
Key Benefits of Buying the Report The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Electronic Skin Patch Market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.