Electronic Skin Market To Create An Absolute Opportunity By 2027, Owing To Rising Expenditure on R&D Development | Million Insights

Electronic Skin Market To Create An Absolute Opportunity By 2027, Owing To Rising Expenditure on R&D Development | Million Insights

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According to new report available with Million Insights, the electronic skin industry is estimated to grow at 20.5% CAGR over the forecast period as the scope and its applications are rising enormously across the globe.

The global electronic skin market size is estimated to touch USD 19.6 billion, by the end of 2027, and is anticipated to grow at a CAGR of 20.5% over the forecast period, 2020 to 2027, according to a new report by Million Insights. The increasing aging population along technological development in healthcare is mainly boosting market growth. Additionally, in the e-textile field, researchers use 3D printing for harvest & storing electricity. In addition, the companies have increased their expenditure on R&D development, which is projected to foster market growth.

For example, Xenoma has developed an e-skin that can monitor health & fitness using printed circuit fabric. Several researchers in the medical are focusing on e-skin application using biomedical and robotic systems. The soft sensors are placed on the skin and the data collected is then integrated with the machine learning process for monitoring tract treatment. In addition, the sensors also track biological parameters like motion, cardiac rhythm, temperature, and breathing.

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Several players in the industry offer soft biosensor systems that help to measure medical data continuously. The e-skins are effective than normal check-ups, that can monitor electric pulse easily. The growing emphasis on self-monitoring and rising diabetes patients are also contributing to market growth. According to the International Diabetes Federation, the total diabetic patient number is projected to increase by up to 700 million by 2045.

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Further key findings from the report suggest:

• In 2019, North America held the largest market share in the global market.

• Based on product, the electronic patches segment is projected to dominate the market over the forecast period.

• The stretchable circuit component segment led the market on owing to its rising application in e-textile and healthcare sectors.

• By Sensors, the tactile sensor segment is anticipated to expand at the highest CAGR from 2020 to 2027.

• The drug delivery system application segment is projected to grow the fastest growing CAGR over the forecast period.

• Key players in the industry continuously focus on developing innovative products by investing in R&D activities.
Electronic Skin Market Segmentation

Million Insights has segmented the global electronic skin market on the basis of product, component, sensor, application, and region:

Electronic Skin Product Outlook (Revenue, USD Billion, 2016 – 2027)
    • Electronic skin suits
    • Electronic patches

Electronic Skin Component Outlook (Revenue, USD Billion, 2016 – 2027)
    • Stretchable circuits
    • Photovoltaic systems
    • Stretchable conductors
    • Electroactive polymers

Electronic Skin Sensors Outlook (Revenue, USD Billion, 2016 – 2027)
    • Tactile sensors
    • Chemical sensors
    • Electrophysiological sensors
    • Others

Electronic Skin Application Outlook (Revenue, USD Billion, 2016 – 2027)
    • Health monitoring systems
    • Drug delivery systems
    • Cosmetics

Electronic Skin Regional Outlook (Revenue, USD Billion, 2016 – 2027)
    • North America
        • U.S.
        • Canada
    • Europe
        • The U.K.
        • Germany
        • France
        • Italy
        • Spain
    • Asia Pacific
        • Japan
        • China
        • India
        • South Korea
        • Australia
    • Latin America
        • Brazil
        • Mexico
        • Argentina
        • Colombia
    • Middle East & Africa
        • South Africa
        • Saudi Arabia
        • UAE

List of Key Players in Electronic Skin Market
    • MC10
    • Xenoma
    • ViVaLNK
    • GENTAG, Inc.
    • DIALOG Semiconductors
    • Bloomlife

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