Market Highlights
It is estimated that the global electronic skin patches market is expected to register a CAGR 18.3% during the forecast period of 2018–2023.
Electronic skin patches industry will witness strong growth during the forecast period.
Electronic skin patches are accessories used for monitoring of health and tracking fitness-related metrics such as diabetes management, heart rate monitoring and others. Continuous development in the field of the wireless & sensor technology has provided a path for development of the market. On the other hand, factors such as political instability, economic stress, and lack of proactive government-led initiatives question the availability and accessibility of adequate funding are expected to hamper the growth of the market.
The global electronic skin patches market is conquered by several players. The key players are involved in new product launches, as well as strategic collaborations in order to brace their position in the market. For instance, GE Healthcare is an American multinational company headquartered in the UK. This initiative is anticipated to open new avenues for the firm to cater to the untapped markets in this region.
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Key players
Some of the key players in the global electronic skin patches market are
- MC10
- Physical Optics Corporation
- Dialog Semiconductor
- Intelesens Ltd
- 3M
- Koninklijke Philips N.V.
- Plastic Electronics GmbH
- ROTEX Global
- SMARTLIFEINC LIMITED
- VivaLNK
- Xenoma
- Xsensio
- GE Healthcare
Segmentation
- The global electronic skin patches market is segmented on the basis of component, application, and distribution channel.
- The electronic skin patches market, by component, is categorized into stretchable circuits, stretchable conductors, electro-active polymers, photovoltaics, and others.
- Based on application, the electronic skin patches market is segmented into diabetes management, cardiovascular, patient monitoring, and others
- Based on distribution channel, the market is segmented into pharmacies, online channel, and others.
Regional Analysis
The Americas is expected to hold a major share in the global electronic skin patches market owing to the well-developed healthcare sector and high healthcare spending has boosted the growth of the market in this region.
Europe is expected to hold the second largest share in the electronic skin patches market due to the growing healthcare infrastructure in the UK, Germany, and France hold the major share for the market.
Asia-Pacific was projected to be the fastest growing region for the global he electronic skin patches market due to the increasing patient population huge population base, huge opportunities for development of the market to swift growth of this regional segment.
The Middle East and Africa holds the least share in the market due to fewer initiatives taken by the government.
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