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.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Electronic Skin Patches Market

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