Electronic Skin Patch Market

Global Electronic Skin Patch Market Size, Share & Trends Analysis Report By End User, By Type, By Wireless Connectivity, By Application, By Regional Outlook and Forecast, 2024 - 2031

Report Id: KBV-23091 Publication Date: June-2024 Number of Pages: 308
2023
USD 12.5 Billion
2031
USD 30 Billion
CAGR
11.7%
Historical Data
2020 to 2022

Market Report Description

The Global Electronic Skin Patch Market size is expected to reach $30 billion by 2031, rising at a market growth of 11.7% CAGR during the forecast period.

Electronic skin patches can be early warning systems for detecting changes in vital signs, physiological parameters, or disease markers that may indicate deterioration in patients’ health. Thus, the general patient monitoring segment acquired 12.5% revenue share in the market 2023. They offer timely interventions, rapid reactions, and possibly life-saving treatment, lowering healthcare costs and improving patient outcomes. They do this by sending real-time warnings and notifications to healthcare providers when irregularities are discovered.

Electronic Skin Patch Market Size - Global Opportunities and Trends Analysis Report 2020-2031

Preventive healthcare strategies aim to detect health issues at their earliest stages, allowing for timely intervention and treatment. Electronic skin patches enable continuous monitoring of physiological parameters such as glucose levels, blood pressure, heart rate, and hydration status.

Additionally, it facilitates population health management initiatives by providing real-time data on disease trends, risk factors, and healthcare utilization patterns, informing public health interventions, preventive strategies, and resource allocation decisions. Therefore, the rising prevalence of chronic diseases worldwide drives the market's growth.

However, developing and manufacturing electronic skin patches involves significant research, design, prototyping, and production expenses. Developing innovative sensor technologies, flexible substrates, biocompatible materials, and miniaturized electronic components requires substantial investments in R&D facilities, equipment, and expertise. Thus, the high initial costs of electronic skin patches are hindering market growth.

Driving and Restraining Factors
Electronic Skin Patch Market
  • Increasing focus on preventive healthcare
  • Growing fitness and wellness trends
  • Rising prevalence of chronic diseases worldwide
  • High initial costs of electronic skin patch
  • Limited reimbursement policies
  • Increasing consumer demand for wearable health devices
  • Rising demand for remote patient monitoring
  • Privacy and data security concerns
  • Skin sensitivity and allergic reactions

End-User Outlook

Based on end user, the market is divided into healthcare, fitness & sport, and others. In 2023, the fitness & sports segment procured 26.8% revenue share in the market. Electronic skin patches enable athletes and fitness enthusiasts to monitor their performance metrics in real time during workouts, training sessions, and competitive events.

Type Outlook

Based on type, the market is bifurcated into monitoring & diagnostic and therapeutic. In 2023, the monitoring & diagnostic segment garnered 78.7% revenue share in the market. Electronic skin patches are primarily designed for health monitoring applications, including continuous monitoring of vital signs, physiological parameters, and biometric data.

Electronic Skin Patch Market Share and Industry Analysis Report 2023

Wireless Connectivity Outlook

On the basis of wireless connectivity, the market is segmented into connected and non-connected. In 2023, the non-connected segment attained 28.4% revenue share in the market. Non-connected offer an advantage regarding privacy and security, as they do not transmit health data wirelessly or store sensitive information on external servers or cloud platforms.

Application Outlook

Based on application, the market is fragmented into diabetes management, cardiovascular monitoring, general patient monitoring, temperature sensing, electrical stimulation, iontophoresis, sweat sensing, wound monitoring & treatment, motion sensing, and others. In 2023, the diabetes management segment registered 22.6% revenue share in the market. Electronic skin patches fitted with glucose sensors allow people to continuously check their blood glucose levels.

Free Valuable Insights: Global Electronic Skin Patch Market size to reach USD 30 Billion by 2031

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Asia Pacific region generated 25.3% revenue share in the market. The Asia-Pacific region is witnessing a rise in the burden of chronic diseases such as diabetes, cardiovascular diseases, respiratory disorders, and obesity, driven by factors such as urbanization, sedentary lifestyles, and dietary changes.

Electronic Skin Patch Market Report Coverage
Report Attribute Details
Market size value in 2023 USD 12.5 Billion
Market size forecast in 2031 USD 30 Billion
Base Year 2023
Historical Period 2020 to 2022
Forecast Period 2024 to 2031
Revenue Growth Rate CAGR of 11.7% from 2024 to 2031
Number of Pages 308
Number of Tables 490
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered Type, Wireless Connectivity, Application, End User, Region
Country scope
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included Abbott Laboratories, DexCom, Inc., Medtronic PLC, Insulet Corporation, Boston Scientific Corporation, Koninklijke Philips N.V., The Surgical Company, VivaLNK, Inc., Blue Spark Technologies, Inc., and Senseonics Holdings, Inc.
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List of Key Companies Profiled

  • Abbott Laboratories
  • DexCom, Inc.
  • Medtronic PLC
  • Insulet Corporation
  • Boston Scientific Corporation
  • Koninklijke Philips N.V.
  • The Surgical Company
  • VivaLNK, Inc.
  • Blue Spark Technologies, Inc.
  • Senseonics Holdings, Inc.

Electronic Skin Patch Market Report Segmentation

By End User

  • Healthcare
  • Fitness & Sports
  • Others

By Type

  • Monitoring & Diagnostic
  • Therapeutic

By Wireless Connectivity

  • Connected
  • Non-connected

By Application

  • Diabetes Management
  • Cardiovascular Monitoring
  • General Patient Monitoring
  • Electrical Simulation
  • Temperature Sensing
  • Iontophoresis
  • Wound Monitoring & Treatment
  • Sweat Sensing
  • Motion Sensing
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA
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