Health & Safety Industry Today
Electronic Skin Patches Market Worth $28.82 Billion by 2028, More than $19 Billion Opportunities in the Next 6 Years - Arizton
According to Arizton’s latest research report, the electronic skin patches market will grow at a CAGR of 20.17% during 2022-2028.
Electronic skin patches are becoming highly popular in the medical world, making it possible to monitor the health conditions of a patient. In general, electronic skin patches monitor various physiological parameters of the user. Innovative, smart electronic health patches are being developed that allow continuous, remote, wireless heart monitoring. For instance, an electronic skin patch developed for patients with heart failure and epilepsy was used in treating COVID-19 patients. Also, soft skin patches offer continuous blood pressure monitoring and other vital signs, especially for patients in intensive care units (ICUs), including infants in neonatal intensive care units (NICU).
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Many innovative electronic skin patches are being developed using technological advancements such as artificial intelligence and machine learning. Such electronic skin patches have been developed for conditions such as sleep apnea. It is a potentially serious sleep disorder affecting around one billion people worldwide. Medical device manufacturers developed several wearable devices for monitoring sleep apnea at home through film-based sensors, microelectronic systems, and resistive bands around the chest or abdomen. With growing interest in electronic skin patches, a startup called Onera Health has developed a wearable patch chest that relies on machine learning and bioimpedance measurements for detecting sleep apnea.
Surge in Startup & University Initiatives for Advancing E-Skin Patch Technology
A few interesting start-ups and universities are working to bring advanced electronic skin sensor patches into the market. For instance, XSENSIO SA has developed next-generation wearable devices that track biochemical information at the skin's surface, providing unprecedented real-time data about health and wellness. Epicore Biosystems has created novel biosensing devices for monitoring to optimize athletic performance and health.
The Rogers Laboratory partnered with Gatorade for its wearable sweat analysis technology, providing athletes with real-time performance data. Likewise, the Stanford team, led by biomaterials engineer Alberto Salleo, developed a wearable patch to measure a person’s cortisol levels from sweat. Similarly, Ali Javey and colleagues from the University of California designed an electronic patch to measure sodium levels in sweat and determine sweat rate directly from the skin. Furthermore, the development of novel electronic skin patches that cover a wide range of applications will continue to grow, address various health issues of users, and help maintain their physical and mental health.
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The competitive landscape in the global electronic skin patch market is intensifying due to the rapidly changing technological environment in the healthcare industry. Vendors operating the market are pursuing various strategies to provide the impetus for growth over the next few years. These market participants adopt collaboration, partnerships, mergers, acquisitions, product launches, and other strategies. For instance, Philips acquired BioTelemetry, a leading player in the mobile cardiac telemetry market, in February 2021.
Large medical device companies are adopting an acquisition strategy to invest or partner with many emerging vendors to diversify their product portfolio and strengthen their presence in the overall market. For instance, iRhythm Technologies deployed ZioAT and ZioXT virtual platforms to help doctors treat a patient's heart using telemetry during the COVID-19 pandemic in April 2020.
The global electronic skin patches market is likely to get highly dynamic with the presence of major international, regional, and a handful of local vendors offering electronic skin patches. Abbott, Dexcom, General Electric Company, and Koninklijke Philips are vendors that contributed to a major share of the global electronic skin patches market.
- General Electric Company
- Koninklijke Philips N.V.
- Menarini Diagnostics
- Bardy Diagnostics
- Benware Medical
- Blue Spark Technologies
- BORSAM Biomedical Instruments
- Boston Scientific
- Epicore Biosystems
- FUKUDA DENSHI
- Holst Centre
- iRhythm Technologies
- LCR Hallcrest
- Liv ApS
- Medtrum Technologies
- Natures Frequencies
- Nemaura Medical
- OMRON Healthcare
- Onera Technologies B.V.
- QT Medical
- Quad Industries
- The Surgical Company
- Theranica Bio-Electronics
- The Scott Fetzer Company
- Virility Medical
- Application: Diabetes Management, General Patient Monitoring, Cardiovascular Monitoring, and Others
- End-User: Home Care Settings, Hospitals, Physician Offices & Specialty Clinics, and Others
- Geography: North America, Europe, APAC, Latin America, and Middle East & Africa
Key Questions Answered in the Report
- What is the expected growth of the global electronic skin patches market?
- What is the growth rate of the global electronic skin patches market?
- What are the latest trends in the global electronic skin patches market?
- Who are the key players in the global electronic skin patches market?
- Which region dominates the global electronic skin patches market share?
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