Electronic Skin Patches Market: Overview
Electronic skin patches are considered to be ultimate wearable electronic devices. These skin patches include electronic components which are set onto the body, typically using an adhesive. These devices are ultra-thin and flexible and are utilized for generating information as well as for communicating through microelectronics and sensors. The breathable skin patch is used in long term care of patients. It can also be used while playing sports, which helps in monitoring the heart rate of an individual. It can be worn for weeks without harming the skin. Electronic skin patches help monitor vital signs and do not cause any discomfort to patients.
Electronic Skin Patches Market: Key Trends
Increase in geriatric population and rise in chronic illnesses drive the global electronic skin patches market. Rise in prevalence of cardiovascular diseases and increase in diabetic population are projected to propel the global market. Technological advancement is the other major factor anticipated to augment the global electronic skin patches market in the next few years. Innovative application of electronic skin patches in monitoring alcohol level is expected to boost the growth of the global market. Drunk driving cases are increasing due to changing lifestyles. This technology provides an accurate and quick way of measuring alcohol consumption level. However, less awareness about the technology and less investments in the developing countries for the development of this device are likely to restrain the global electronic skin patches market.
Electronic Skin Patches Market: Segmentation
The global electronic skin patches market can be segmented based on application, end-user, and region. In terms of application, the market can be classified into cardiovascular management, diabetes management, alcohol level management, and others. Based on end-user, the global electronic skin patches market can be divided into hospitals, clinics, ambulatory surgical centers, and others.
Electronic Skin Patches Market: Regional Analysis
In terms of region, the global electronic skin patches market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2018 and the trend is projected to continue during the forecast period. This is attributed to rise in prevalence of the cardiovascular and diabetes, increase in awareness about health monitoring devices, surge in health care expenditure, and rise in demand for wearable electronic devices in the region. According to the American Heart Association, cardiovascular diseases accounted for 840,678 deaths in 2016. Rise in prevalence of alcohol consumption is anticipated to augment the global electronic skin patches market in the region. The market in Asia Pacific is expected to grow at a rapid pace during the forecast period. Rise in awareness about electronic skin patches and its usage in monitoring chronic diseases is likely to drive the market in the region. Moreover, in 2016, researchers in Japan developed an electronic skin which has an organic circuit, can be worn on the human body, and is 10 times thinner than a skin cell. This technology is expected to display the heart rate or blood oxygen level of the consumer. Furthermore, increase in government investment in research & development is projected to drive the market in Asia Pacific during the forecast period. The market in Latin America and Middle East & Africa is expected to grow at a sluggish pace due to less awareness.
Electronic Skin Patches Market: Competitive Landscape
Major players operating in the global electronic skin patches market include Abbott Laboratories, Dexcom, Medtronic, Roche, Sensium, VitalConnect, Isansys, and Leaf Healthcare.
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