“Global Electronic Skin Patch Market to reach a market value of USD 30 Billion by 2031 growing at a CAGR of 11.7%”
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.
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.
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.
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.
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.
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
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.
| 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 |
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| 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. |
By End User
By Type
By Wireless Connectivity
By Application
By Geography
This Market size is expected to reach $30 billion by 2031.
Increasing focus on preventive healthcare are driving the Market in coming years, however, High initial costs of electronic skin patch restraints the growth of the Market.
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.
The expected CAGR of this Market is 11.7% from 2023 to 2031.
The Healthcare segment is leading the Market by End User in 2023; thereby, achieving a market value of $18.2 billion by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $11.5 billion by 2031.
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