The global market size for electronic skin is forecasted to accelerate at a CAGR of 18.84% from 2022 to 2027 and be worth USD 15.66 billion by 2027 from USD 6.61 billion in 2022.
Electronic skin is a type of artificial smart skin made up of multiple sensors stacked on top of each other. Electronic skin, or e-skin, is an elastic network of sensors and electronics that mimics the function of human or animal skin. It is a flexible, self-healing, and wearable device. It responds to environmental stimuli by sensing heat, pressure, and temperature using chemical, tactile, and electrophysiological sensors, actuators, processors, and communication units. These patches help monitor the body's vital signs with little or no discomfort to the user. They're also linked to mobile operating systems found in health-monitoring devices like fitness bands and watches.
Impact of COVID-19 on the global electronic skin market:
The COVID-19 outbreak has had a global impact on many industries. Governments worldwide imposed strict lockdown measures and social distance rules to slow the pandemic's spread. Manufacturing facilities worldwide were shut down during the early stages of the pandemic. Furthermore, the economic crisis that followed the epidemic could cause a significant delay in the market's commercialization. Small and medium-sized businesses, which are the backbone of the technological market, have seen a sharp reduction in income since the epidemic began in 2020. The COVID-19 pandemic has had a favorable impact on the electronic skin market. The virus has had a substantial influence on the healthcare business, necessitating real-time patient monitoring. Market companies develop electronic skin patches that track a patient's temperature and heart rate. These electronic devices allow for remote and continuous temperature monitoring of a patient.
The most common application of electronic skin in robotics is to offer a sense of touch. Such applications have aided the electronic skin market by expanding its product line in the healthcare sector, adopting better and more frequent health monitoring systems worldwide, and allowing users to track their health and fitness concerning various conditions. Electronic skin and skin patches are used for various purposes, including diabetes monitoring, cardiovascular problems, pregnancy detection, and brain abnormalities detection, among others. Furthermore, the growing demand for electronic skin components in wearable electronics is likely to drive the growth of the global electronic skin market. Electronic skin is becoming more popular because of its perks, such as self-healing and flexibility. The market is also expanding as the number of new products is released, and FDA clearances are granted more quickly. Additionally, a surge in investment by various companies for the development of technologically advanced electronic skin products has aided the market expansion.
Increased R&D initiatives to improve its durability are expected to generate significant market expansion opportunities. Technology improvements such as the development of 3D printed and artificial intelligence (AI)-integrated lightning and sweating electronic skins are other growth-inducing factors. Electronic skin is compatible with various operating systems and maybe connected via Bluetooth, making it a viable alternative to watches and fitness trackers. To some extent, the rising trend of green materials encourages the growth of the electronic skin market.
During the forecast period, high capital investment combined with complex design would function as a market restraint for electronic skin. As a result, the adoption of this technology is predicted to be limited by issues such as poor awareness and minimal investment in research and development in underdeveloped economies.
Market Size Available
2021 to 2027
2022 to 2027
By Product, Application, Sensor & Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa
This research report on the global electronic skin market has been segmented and sub-segmented based on the product, application, sensor & region.
Electronic Skin Market – By Product:
Based on the product, the electronic skin patches segment dominated the global electronic skin market in 2021. Actuators, sensors with suitable processing, connectivity, and energy storage are all included in electronic skin patches. Because of its applicability in various personal care applications, electronic skin patches are gaining popularity. For example, this device keeps patients out of hospitals while allowing them to communicate with their doctors. In addition, these electronic patches are used for diabetic self-monitoring, motion detection, inpatient and outpatient remote patient monitoring, and temperature sensing.
Electronic Skin Market – By Application:
During the forecast period, the CAGR for drug delivery systems is expected to have the highest CAGR. The non-invasive, real-time dynamic therapeutic capability is mainly responsible for the segment's rapid rise. These electronic skins can store data, employ muscle action, and utilize recorded data patterns to distribute medicine through the skin.
Electronic Skin Market – By Sensor:
Due to the increasing use of these sensors in healthcare, such as chronic disease, restoration therapies, and real-time monitoring of patient health, the electrophysiological sensors segment accounted for the largest share and is expected to grow rapidly during the forecast period. Furthermore, electrophysiological sensors are incredibly beneficial to the growing geriatric population, as they are more susceptible to disease and require frequent medical interventions and health monitoring.
Electronic Skin Market – By Region:
In 2021, North America dominated the worldwide electronic skin market, and this trend is forecasted to be continued over the forecast period. This is due to increased market competition and high investments made by company research departments and management, which would allow the electronic skin market developing economies to grow at a significant rate throughout the forecast period. This is also likely to help the market grow regionally.
The electronic skin market is expected to develop at the quickest rate in the Asia Pacific during the forecast period. This is because the country has solid institutional pillars, finance systems, business dynamism, and a thriving innovation ecosystem. In addition, rising public awareness and rising healthcare spending are likely to help the growth of the global electronic skin market during the forecast period. As a result, the Asia Pacific electronic skin market is projected to be dominated by China. Furthermore, China's position in the global electronic skin market has been strengthened by private firms and the government's significant investments in research and development.
Europe is also likely to be a key market for electronic skin development. Leading players' positions in the global electronic skin market have been enhanced by their presence in two technologically advanced regions.
KEY MARKET PARTICIPANTS:
Medidata Solutions, Intellisense Technology, Plastic Logic GmbH, Rotex Global, LLC, ‘Smartifeine Limited, Viva NK, Inc., Xenoma Inc., Xsensio, Chrono Therapeutics Inc. and iRhythm Technologies, Inc. are some of the notable companies in the global electronic skin market profiled in this report.
RECENT HAPPENINGS IN THIS MARKET:
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Electronic Skin Market , By Product
6.1.1 Electronic skin suit
6.1.2 Electronic patches
6.1.3 Market Size Estimations & Forecasts (2022 to 2027)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Electronic Skin Market , By Application
6.2.1 Health Monitoring Systems
6.2.2 Drug Delivery Systems
6.2.4 Market Size Estimations & Forecasts (2022 to 2027)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
6.3 Electronic Skin Market , By Sensor
6.3.1 Tactile sensors
6.3.2 Chemical sectors
6.3.3 Electrophysiological Sensors
6.3.4 Market Size Estimations & Forecasts (2022 to 2027)
6.3.5 Y-o-Y Growth Rate Analysis
6.3.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Electronic Skin Market , by Region
7.2 North America - Market Analysis (2022 to 2027)
7.2.1 By Country
7.2.2 By Product
7.2.3 By Application
7.2.4 By Sensor
7.3.1 By Country
126.96.36.199 Rest of Europe
7.3.2 By Product
7.3.3 By Application
7.3.4 By Sensor
7.4 Asia Pacific
7.4.1 By Country
188.8.131.52 South Korea
184.108.40.206 South East Asia
220.127.116.11 Australia & NZ
18.104.22.168 Rest of Asia-Pacific
7.4.2 By Product
7.4.3 By Application
7.4.4 By Sensor
7.5 Latin America
7.5.1 By Country
22.214.171.124 Rest of Latin America
7.5.2 By Product
7.5.3 By Application
7.5.4 By Sensor
7.6 Middle East and Africa
7.6.1 By Country
126.96.36.199 Middle East
7.6.2 By Product
7.6.3 By Application
7.6.4 By Sensor
8. Key Player Analysis
8.1 Medidata Solutions
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Intellisense Technology
8.3 Plastic Logic GmbH
8.4 Rotex Global, LLC
8.5 ‘Smartifeine Limited
8.6 Viva NK, Inc.
8.7 Xenoma Inc.
8.9 Chrono Therapeutics Inc.
8.10 iRhythm Technologies, Inc
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures
As per our research report, the global electronic skin market size is estimated to be worth USD 15.66 billion by 2027.
Based on the product, the electronic patches segment is estimated to dominate the global electronic skin market during the forecast period.
Geographically, the North American electronic skin market accounted for the largest share of the global market in 2021.
Companies playing a major role in the global electronic skin market are Medidata Solutions, Intellisense Technology, Plastic Logic GmbH, Rotex Global, LLC, ‘Smartifeine Limited, Viva NK, Inc., Xenoma Inc., Xsensio, Chrono Therapeutics Inc. and iRhythm Technologies, Inc.
Talk to our analyst and get customised report done according to your research needs
Check if you can avail any discount. Submit your details and our team will get back to you.
Request to avail a free sample report that reflects this market and its growth.