Electronic Skin Market Size, Share, Growth Analysis, By Product Type (Electronic Patches, Electronic Skin Suits), By Component (Stretchable Circuits, Photovoltaics Systems), By Sensors, By Application, By Region - Industry Forecast 2024-2031
Global Electronic Skin Market size was valued at USD 7.23 billion in 2022 and is poised to grow from USD 8.86 billion in 2023 to USD 44.91 billion by 2031, growing at a CAGR of 22.5% during the forecast period (2024-2031).
The market for electronic skin, which encompasses flexible printed electronics designed for pressure and temperature sensing, is poised for substantial growth driven by the burgeoning demand in the wearable electronics sector. Applications of electronic skin and skin patches span various healthcare needs, including diabetes management, cardiovascular monitoring, pregnancy tracking, and neurological disorder detection. As consumers and healthcare providers increasingly recognize the value of continuous health monitoring, the requirement for innovative wearable solutions is expected to surge, further propelling market expansion. This trend underscores the intersection of advanced technology with personalized healthcare, positioning electronic skin as a pivotal component in the evolving landscape of medical and wearable devices.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Electronic Skin market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Electronic Skin Market Segmental Analysis
Global Electronic Skin Market is segmented by product type, component, sensors, application and region. Based on product type, the market is segmented into electronic patches and electronic skin suits. Based on component, the market is segmented into stretchable circuits, photovoltaics systems, stretchable conductors and electroactive polymers. Based on sensors, the market is segmented into tactile sensors, chemical sensors, electrophysiological sensors and others. Based on application, the market is segmented into health monitoring systems, drug delivery systems and cosmetics. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Electronic Skin Market
The Global Electronic Skin market is significantly driven by the increasing concerns related to chronic ailments, especially among the aging population. As the geriatric demographic becomes more susceptible to chronic illnesses like diabetes, cancer, and heart conditions, there is a heightened demand for innovative solutions that enable continuous health monitoring. Electronic Skin patches and associated devices are pivotal in managing these chronic conditions remotely, offering patients enhanced independence and improved quality of care. Additionally, the rising prevalence of health issues due to changing lifestyles and diets, combined with growing awareness of fitness and technology in healthcare, is expected to further propel market growth in the coming years.
Restraints in the Global Electronic Skin Market
The global electronic skin market faces several restraints that could hinder its growth, primarily due to the elevated initial investment required for its deployment. This high cost is likely to deter potential adopters, affecting overall market expansion in the forecast period. Additionally, the complexity involved in the design and engineering of electronic skin technologies poses challenges, potentially slowing down innovation and adoption rates. Furthermore, issues related to material degradation over time present significant concerns, which could undermine product viability and contribute to hesitance among stakeholders in fully embracing these advanced solutions, ultimately impacting the market's momentum.
Market Trends of the Global Electronic Skin Market
The Global Electronic Skin market is poised for substantial growth driven by the expanding applications of this innovative technology across diverse sectors such as healthcare, fitness, and consumer electronics. As electronic skin patches gain traction for monitoring vital health parameters like brain abnormalities, cardiovascular issues, and diabetes, consumer acceptance is expected to rise sharply. The surge in wearable electronics further fuels demand, supported by a growing trend of personalized health monitoring. Concurrently, the market will benefit from a flurry of new product launches and regulatory approvals, signaling a robust shift towards advanced, skin-like sensors that promise enhanced user experience and medical diagnostics over the forecast period.
Table of Contents
Introduction
Objectives of the Study
Scope of the Report
Definitions
Research Methodology
Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Overview
Market Size
Market Dynamics
Drivers & Opportunities
Restraints & Challenges
Porters Analysis
Competitive rivalry
Threat of substitute
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Key Market Insights
Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2023
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Regulatory Analysis
Technology Analysis
Global Electronic Skin Market Size by Product Type & CAGR (2024-2031)
Market Overview
Electronic Patches
Electronic Skin Suits
Global Electronic Skin Market Size by Component & CAGR (2024-2031)
Market Overview
Stretchable Circuits
Photovoltaics Systems
Stretchable Conductors
Electroactive Polymers
Global Electronic Skin Market Size by Sensors & CAGR (2024-2031)
Market Overview
Tactile Sensors
Chemical Sensors
Electrophysiological Sensors
Others
Global Electronic Skin Market Size by Application & CAGR (2024-2031)
Market Overview
Health Monitoring Systems
Drug Delivery Systems
Cosmetics
Global Electronic Skin Market Size & CAGR (2024-2031)
North America (Product Type, Component, Sensors, Application)
USA
Canada
Europe (Product Type, Component, Sensors, Application)
Germany
Spain
France
UK
Italy
Rest of Europe
Asia Pacific (Product Type, Component, Sensors, Application)
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America (Product Type, Component, Sensors, Application)
Brazil
Rest of Latin America
Middle East & Africa (Product Type, Component, Sensors, Application)