ElectronicSkin Patches Market Research Report, By Component (Stretchable Circuits,Stretchable Conductors, Electro-active Polymers, Others), Application (DiabetesManagement), and End User (Pharmacies, Online Channel, Others) — GlobalForecast till 2027
MarketHighlights
It isestimated that the global electronic skin patches market is expected toregister a CAGR 18.3% during the forecast period of 2018–2023. The globalelectronic skin patches market is expected to witness tremendous growth owingto the government initiatives to increase adoption of patient monitoring,growing venture capital investments, and growing pressure to curb healthcarespending and improve patient outcomes. Other key factors such as risinghealthcare costs, increasing chronic diseases and conditions such as diabetes,cancer, heart diseases, and others.
Theincreasing demand for electronic skin solutions in the wearable electronicssector and technological advancement is expected to drive the growth of themarket. Factors such as the high cost of electronic skin patches are limitingthe growth of the market.
Moreover,major companies in the market are involved in investing more in research anddevelopment and new product launches to strengthen their position in themarket. For instance, in March 2017, 3M developed adhesives to improve wearablemedical devices.
SegmentationalAnalysis:
On aregional basis, the Electronic Skin Patches Market Opportunities inthe Americas is predicted to dominate the market during the forecast period.The North American region holds a substantial share in the global market. Thisowes to the growth of federal healthcare regulations that curb the risinghealthcare costs; rising government initiatives focusing on research anddevelopment activities. Moreover, America commands for the largest market forwearable tracking devices chiefly due to the presence of huge obese anddiabetic population. According to the National Center for Chronic Disease, in2014 9.3% of the population have diabetes and 37% of adult America populationis suffering from obesity and overweight.
Currently,the global electronic skin patches market is dominated by numerous players. Themajor players in this market are involved in new product launches, strategicpartnerships and collaborations to increase their product portfolio.
Theglobal electronic skin patches market is segmented on the basis of component,application, and distribution channel.
IntendedAudience
- Medical device companies
- Analytical companies
- Government institutions
- Research and Development (R&D) companies
- Medical research laboratories
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