May 18, 2020
As per the report titled ‘Electronic Skin Market Size By Product, By Component, By Sensor Type, By Application, By Distribution Channel, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global electronic skin market is expected to register a healthy growth rate over 2020-2026.
Growing demand for advanced health monitoring systems, increasing expenditure on wearable devices, and rising investments in robotics technology are driving the growth of global electronic skin market.
The main application areas of electronic skin lie in skin wearable devices, robotics and prosthetics. E-skin contains sensors which measure temperature, strain, and stress that is applied to different points of the patient’s body for detailed and effective health monitoring. In addition, flexible displays can be integrated onto an electronic skin, eliminating the discomfort of wearing bulk monitoring devices, thereby encouraging the product adoption.
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Based on the product type, electronic skin suit segment is expected account for a significant market share by the end of the forecast period. Health monitoring properties for various sickness and disorders, such as sleep cardiac, respiratory, and activity tracker are fueling the product demand.
On the basis of component, stretchable conductors are anticipated to witness an accelerated demand in the coming future owing to use in stretchable electronic devices for next-gen wearables and soft robotics. High conductivity in thin metal films is key factor encouraging the product use.
Elaborating on the sensor type, electrophysiological sensors segment is projected to display strong growth trends during the estimated timeframe. Rising worldwide chronic disease burden in tandem with inherent application of electrophysiological sensor in monitoring chronic diseases as well as in restoration therapy for trauma patients is supporting the segment growth.
Speaking of the application spectrum, electronic skin market share from drug delivery systems segment is expected to grow substantially during the analysis period. The advantages offered by new drug delivery systems with electronic skin include improved therapy by increasing the period of action and minimizing the side effects.
With respect to the distribution channel, the market is bifurcated into B2B and B2C, wherein the later segment is reckoned to see considerable gains in the forthcoming years. The growth is attributable to increased consumer awareness regarding the potential health benefits of electronic skin suits and electronic skin patches in developed nations.
As per the regional analysis, Middle East & Africa electronic skin market is projected to expand at 14.6% CAGR over the forecast timeline. The growth can be credited to early adoption of technological advancements in Middle Eastern countries such as Saudi Arabia and UAE.
Major players operating in global electronic skin market are Xsensio, MC10, Rotex Inc., Xenoma Inc., Renew Health Limited (Intelesens Ltd.), VivaLnK, Inc., iRhythm Technologies, Chrono Therapeutics, Holst Center, Bloomlife, Byteflies & Quad Industries, Insulet Corporation, Dexcom, Gentag, Feeligreen, and Abbott.