The global electronic skin market size was estimated at USD 4.6 billion in 2022 and is expected to hit around USD 22.59 billion by 2032, poised to grow at a compound annual growth rate (CAGR) of 17.3% during the forecast period from 2023 to 2032.
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As there are many advantages of using electronic skin the demand for it is expected to grow during the forecast period. It has the properties of flexibility and self-healing which shall drive the market growth in the coming years. It also has the capability of mimicking the capabilities of the human skin in terms of sensing various things the market is expected to grow as it shall have many applications Tom St comes to the monitoring of the health. Apart from all the other devices that are wearable human skin has two extremely distinct factors that are unique which are flexibility as well as sensitivity. Due to an increase in the number of approvals that come from the FDA the market is expected to grow well during the forecast period.
Many new products are expected to be launched in the forecast period. There's a growing demand for the electronic skin in the current market as it is extremely helpful in monitoring many physiological signals. It helps in tracking those tissue pressure, it helps in understanding the electrolyte balance and the temperature. Constant research and development activities have been favorable for the growth of the market as the advancements and the innovations in the already existing technology will be able to provide additional features to the electronic skin. Researchers are working on providing self-healing and sweating features to the electronic skin. There is an increased number of investments for coming up with the human like skin especially in the region of Korea which will be able to sense different things.
There's a growing demand for electronic skin in the manufacturing of the robotic devices also there is an increased application of electronic skin in the biomedical industry. A huge amount of capital nudes to be invested in this market and this happens to be a challenge in the growth of the electronic skin market beated the COVID-19 pandemic has had a negative impact on this market as there were strict social distancing norms and lockdowns imposed across the globe due to the spread of the virus. In order to contain the spread of the virus all of these policies were adopted. Due to the partial or complete shutdown of various industries the demand for the products have also gone down to a great extent. Due to the restricted movement transport to the raw materials was also affected due to which the production was hampered. After the pandemic the market is expected to grow well do too increased application of the electronic skin in various markets.
Constant research and developmental activities will be helpful in coming up with innovative products that will be extremely beneficial and efficient. there has been an increase in the demand for wearable technologies which will drive the market growth in the coming years. Electronic skin provides connectivity two smart devices and this will drive the demand in the coming years. It comes with or durable battery which lasts long and the operations are hand free. this technology is capable of deriving the responses to the external stimuli through the use of electronic skin.
Report Scope of the Electronic Skin Market
|Market Size in 2023
USD 5.37 Billion
|Market Size by 2032
USD 22.59 Billion
|Growth Rate from 2023 to 2032
|CAGR of 17.3%
|2023 to 2032
|Product, Type, Component, Sensors, Application and Geography
|Gentag, Bloom life, Dialog semiconductors, M C10, and Xenoma
Constant awareness regarding the fitness and improvement in the lifestyle will also be helpful in driving the market growth. Growing demand for the health care services at the patience home will also drive the market from the electronic skin during the forecast period. As electronic skin is also used in treating various diseases like the stroke or the cardiovascular disease is the demand is expected to go up in the coming years. Growing demand for monitoring the health conditions of the people in the developed as well as the developing nations will create a great demand for the electronic skin market in the coming years. there's a growing learn for the adoption of electronic skin especially in the robotics market.
On the basis of the product, the electronic skin patches segment will dominate the market. This segment had accounted for a market share of about 91% in the recent years and it is expected to dominate the market in the coming years. These skin patches provide for storage of energy as well as communication through the use of the sensors in these patches. There's an increased use of these patches in the personal care industry. It has many applications in the personal care sector. Go to it helps in remaining in touch with the doctor constantly. These patches are helpful in monitoring the patient for a longer period of time and providing with all the real time data to the hospital which is extremely beneficial in maintaining the health of the consumers or the patients. These patches are specially used in the monitoring of diabetes. It is extremely beneficial in monitoring of the patients and sensing the temperature.
Apart from the growth of the electronic skin patches segment the electronic suits segment will also grow well in the forecast period. There's a growing demand for electronics suits in the market. It is a combination of electronic and textiles. Textiles or the clothes or an extremely good interface which is constantly in touch with the body and when sensors are attached to the clothes it helps in providing all the real time data. This happens to be a convenient option and an extremely effective option. There's a growing demand for these electronic suits in the healthcare and the sports sector.
Depending upon the components, the stretchable circuits segment will dominate the market in the coming years period the stretchable circuits market is expected to grow with the highest compound annual growth rate during the forecast period. It has had a 34% market share in terms of revenue in the recent years. It helps in monitoring the health of the patient. It also happens to be a platform for the regenerative medicines. Monitoring the bio signals through the use of these stretchable circuits which are in touch with the human skin is done in an efficient manner without hampering the day-to-day activities of the patient.
The electroactive polymers market will also grow well during the forecast period. Electric field is applied to the polymers do to which the dimensions of these polymers change. These polymers become capable of storage capacity. And they also become electronically conductive. Due to an increased trend of the usage of the variable sensors the market for electroactive polymers is expected to grow well during the forecast period.
Depending upon the sensors, the electrophysiological segment is expected to dominate the market in the coming years. This segment has accounted for a market share of about 42% in the past and it is expected to grow well in the coming years. These sensors have a wide amount of application in different sectors. There's a growing demand for the sensors for the chronic disease's therapies of restorative nature and also for the monitoring of the physiological conditions. All of these factors will drive the market growth. As there's been an increase in the geriatric population across the globe the demand for Electro physiological sensors is expected to grow well. These sensors will be extremely efficient for providing constant monitoring to these patients. It will also be helpful in monitoring the health of the patients at home. All of these factors are expected to drive the demand for electrophysiological segment.
The tactile sensor segment will also grow well in the coming years. Due to an increased use of these sensors in robotics, physiological monitoring and the human machine interface the market is expected to grow well. Constant innovation in this field we will drive the market growth as tactile sensors are flexible and highly sensitive.
Depending upon the application, the health monitoring segment is expected to grow well during the forecast period. This segment is expected to dominate the market in the coming years as it has done in the past period this segment held a market share of about 39% in the recent years. There's an increased use of electronic skin in various diseases like the cardiovascular diseases and the chronic diseases. This technology happens to be user friendly as they are easy to use and the patients can themselves monitor their health. The drug delivery system segment is also expected to grow well in the coming years. It happens to be a non-invasive method therefore the market is expected to grow.
Electronic Skin Market Share, By Region, 2022 (%)
|Revenue Share in 2022 (%)
The North American region dominates the market and it has had a largest market share of about 40% in the past period this segment is expected to dominate the market in the coming years due to an increase in the number the aging population. Constant research and developmental activities have provided innovative products in the North American region. New products are launched which are extremely beneficial when it comes to this technology and it they will drive the market growth of the North American region. The availability of the reimbursement policies in this region will also drive the market growth in the coming years period there are many major companies based in the North American region that shall be instrumental in increasing the demand for electronic skin.
The Asia Pacific region will also grow well in the forecast period. Increase in the chronic diseases and growing geriatric population will drive the market growth. There is a great demand for electronic skin in the Asia Pacific region especially due to the aging population.
Key market developments
Key market players
Segments covered in the report
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