The Global Electronic Skin Market is valued at USD 7.0 Billion in 2020 and is anticipated to grow with a CAGR of 15.0% during the forecast period from 2020 to 2028. Increasing the implementation of imaging modalities in various geographical locations to detect COVID-19 will boost the demand for electronic skin.
Electronic skin is a flexible, thin, and stretchable membrane which is embedded in electronic components. It possesses sensing abilities. The electronic skin technology is proposed to mimic the abilities of the human/animal skin, due to which electronic skin generates a response to environmental stimuli such as changes in pressure as well as heat.
Electronic skin provides a platform for integrating sensors and patches to monitor environmental changes. This feature represented by the electronic skin technology has generated interest among the manufacturers of healthcare equipment and wearable devices. Electronic skin possesses the potential to be utilized for monitoring on-body health and physiological conditions. In the next few years, the electronic skin is expected to experience rapid adoption in different industries, such as industrial & residential robotics, healthcare, and prosthetics.
Global Electronic Skin Market, by Product
In terms of product, the market is segmented into electronic skin suit and electronic patches. Electronic patches hold a significant revenue in 2020 and is expected to grow with a moderate CAGR during the forecast period. This is due to the increasing application of electronic skin patches for diabetes management via CGM (continuous glucose monitoring) and cardiovascular monitoring. Electronic skin patches are also being used for fever monitoring and fertility monitoring and fitness tracking.
Global Electronic Skin Market, by Component
In terms of components, the market is segmented into stretchable circuits, photovoltaics systems, stretchable conductors, and electro-active polymers. The photovoltaic system is expected to grow with a considerable CAGR during the analysis period. This is due to the implementation of the photovoltaics system in skin patches and sensors owing to the limitation of traditional patches.
Global Electronic Skin Market, by Sensor Type
In terms of the sensor type, the market is segmented into tactile sensors, chemical sensors, and electrophysiological sensors. Electrophysiological sensors have emerged as one of the major segments in the global electronic skin market. The need for monitoring diseases, mainly in infants and geriatric population, will boost the market growth. Also, a rise in the incidence of chronic diseases will further supplement the demand for electronic skin products in the market.
Global Electronic Skin Market, by Application
In terms of application, the market is segmented into health monitoring systems, drug delivery systems, and cosmetics. The health monitoring segment accounted for the largest market share in 2020. Health monitoring via electronic skin patches and electronic skin suits is being studied for various ailments such as diabetes, pregnancy related concerns, cardiovascular diseases, smoking cessation, and fever, among other ailments. Therefore, owing to the wide applications of ailments that health monitoring covers, the market is anticipated to witness substantial growth in the coming years.
Global Electronic Skin Market, by Distribution Channel
In terms of distribution channels, the market is segmented into B2B and B2C. B2B is expected to grow with a significant growth rate due to the varied advantages offered by this distribution channel. A few of the advantages offered by B2B over the B2C segment include new customers with more online habits, instant order fulfillment, as well as big order values which correspond to more revenues.
Global Electronic Skin Market, by Region:
In terms of region, the North American region has captured the largest market for global electronic skin in 2020 and is anticipated to be dominant till the forecast period. The major contributing factors are growing chronic diseases, growing awareness, and increasing R&D investments in the healthcare IT sector. These are some of the leading markets for electronic skin in the region.
Some Major Findings of the Electronic Skin Market Report Include:
By Sensor Type
By Distribution Channel
Detailed scope covering all the major segments in the market
In line data validations to ensure data precision
Market recommendations supporting decision making processes
Round the clock analyst support to resolve your queries
Up to 15% additional free customization to meet your specific requirements